Can lithium ion batteries be adapted to mineral availability & price?

Lithium-ion batteries dominate both EV and storage applications, and chemistries can be adapted to mineral availability and price, demonstrated by the market share for lithium iron phosphate (LFP) batteries rising to 40% of EV sales and 80% of new battery storage in 2023.

What are lithium-ion power batteries used for?

Lithium-ion power batteries are mainly used in the field of new energy vehicles, and in the global market, new energy vehicles are in a long-term starting stage, which will drive the demand for the lithium-ion power battery industry to continue to be strong.

What is the global market for lithium-ion batteries?

The global market for Lithium-ion batteries is expanding rapidly. We take a closer look at new value chain solutions that can help meet the growing demand.

What is the growth rate of lithium-ion power batteries in 2019-2020?

According to GGII data, it is estimated that the growth rate of global lithium-ion power batteries in 2019-2020 will be 52.5% and 50.9% respectively, still maintaining a stable and high growth level. Figure 2. Global Lithium-ion Power Battery Production（GWh） Source: Secondary Sources, Expert Interviews and QYResearch, 2020

What is the market share of lithium-ion power battery?

The market concentration of lithium-ion power battery is very high. The market share of the world's top five manufacturers exceeds 60%. CATL and Panasonic have the highest market share, accounting for 22.6% and 21.5% respectively. Figure 8.

What percentage of lithium-ion batteries are used in the energy sector?

Despite the continuing use of lithium-ion batteries in billions of personal devices in the world, the energy sector now accounts for over 90% of annual lithium-ion battery demand. This is up from 50% for the energy sector in 2016, when the total lithium-ion battery market was 10-times smaller.