Lithium De­mand Pro­jected To Grow As Li-Ion Bat­ter­ies Gain Pop­u­lar­ity

Chemical Industry Digest - - News & Views -

Ac­cord­ing to data pub­lished by Al­lied Mar­ket Re­search, the global lithium ion (Li-ion) bat­tery mar­ket is pro­jected to reach $46.21 bil­lion by 2022 and at a CAGR of 10.8%. The in­creas­ing de­mand for durable recharge­able bat­ter­ies is at­trib­ut­able to in­creas­ing us­age of recharge­able elec­tronic de­vices, grid stor­age sys­tems and elec­tric ve­hi­cles.

Lithium bat­ter­ies are com­pact, but the en­ergy den­sity al­lows for the ve­hi­cles to drive a fur­ther range than pre­vi­ous bat­tery op­tions. Ger­ard Reid, eq­uity re- searcher and fund man­ager at Alexa Cap­i­tal, ex­plained, “Lithium is quite unique as a ma­te­rial in that it is very light with the low­est re­duc­tion po­ten­tial of any chem­i­cal el­e­ment which al­lows bat­ter­ies based on lithium to have un­beat­able per­for­mance. Lithium-ion bat­ter­ies costs are likely to fall an­other 50% by 2020 to $100/kWh while at the same time en­ergy den­sity should in­crease by 20%, which will help bring the range of the av­er­age elec­tric ve­hi­cle (EV) to­wards 500km.”

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