New York, June 17, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Lithium-Ion Battery Metal Market – A Global and Regional Analysis: Focus on Constituent Metal, Cell Chemistry, Application of ‘End Use and Region – Analysis and Forecast, 2022-2031’ – https://www.reportlinker.com/p06287394/?utm_source=GNW
Market life cycle stage
Lithium-ion batteries were developed by three scientists, John B. Goodenough, M.
Stanley Whittingham and Akira Yoshino working separately in the 1970s. During the oil crisis of the 1970s, Mr.
Stanley Whittingham began working on a battery that could recharge in a short time. He began his experiments with titanium disulfide and lithium metal as electrodes.
In the 1980s, John B. Goodenough used lithium cobalt oxide (LCO) instead of titanium disulfide as the cathode and discovered that the battery doubled its energy potential. After five years, Akira Yoshino of Meijo University in Japan used petroleum coke as the anode in John B. Goodenough’s LCO battery. This last experiment by Akira Yoshino resulted in the first known prototype of a lithium-ion battery. The three scientists were awarded the Nobel Prize in Chemistry in 2019 for their work in developing lithium-ion batteries.
The growth of the lithium-ion battery metal market is closely linked to the automotive industry and the consumer electronics industry. The growing demand for electric vehicles and consumer electronics such as laptops, mobile phones, and Internet of Things (IoT) devices has led to the growing demand for lithium-ion batteries around the world.
Additionally, the increasing adoption of lithium-ion batteries in stationary energy storage systems is contributing to the growth of the lithium-ion battery metals market.
Impact of COVID-19
The COVID-19 outbreak has caused several delays in manufacturing operations, which has led to the slowdown in the lithium-ion battery metal market. Additionally, supply chain disruptions have negatively impacted the lithium-ion battery metal market.
Currently, companies are trying to obtain long-term supply contracts with other suppliers, in order to maintain the smooth operation and interruption of the supply of metals.
The market for metals for lithium-ion batteries is dominated by the automotive industry with a share of 50.53% in 2021. Rising sales of electric vehicles and announcements from key automotive companies, such as Ford, General Motors and Tesla, for focus on the production of electric vehicles in the coming years is driving the growth of the lithium-ion battery metal market.
Segmentation 2: by constituent metal
• Other constituent metals
The lithium-ion battery metal market is dominated by cobalt metal in 2021 with a 48.74% share in terms of revenue due to the high price of the metal and the growing demand for NMC cell chemistry type batteries.
Segmentation 3: by Cellular Chemistry
• Lithium-cobalt oxide (LCO)
• Nickel-Cobalt-Manganese (NMC)
• Nickel-Cobalt-Aluminium (NCA)
• Lithium-magnesium oxide (LMO)
• Lithium-Iron-Phosphate (LFP)
• Other cellular chemistries
The lithium-ion battery metals market is estimated to be dominated by lithium-iron-phosphate (LFP) cell chemistry with a 40.34% share in 2021, driven by growing demand for LFP batteries from the market segment. energy storage and electric vehicles.
Segmentation 4: by Region
• North America: United States, Canada and Mexico
• Europe: Germany, France, Italy, Ukraine, Russia and rest of Europe
• Asia-Pacific and Japan: Japan, India, South Korea, Australia, Indonesia and Rest of Asia-Pacific and Japan
• South America: Argentina, Chile, Brazil and rest of South America
• Middle East and Africa – United Arab Emirates, Saudi Arabia, South Africa, Democratic Republic of Congo (DRC) and Rest of Middle East and Africa
China led the market in 2021 with a share of 71.86%; however, Asia-Pacific and Japan is expected to gain traction in lithium-ion battery metal production due to the presence of a large number of lithium-ion battery manufacturers such as Panasonic, Toshiba, and LG Chem and of increased sales. of electric vehicles. Additionally, favorable government policies are also expected to support the growth of the lithium-ion battery metals market in Asia Pacific and Japan during the forecast period.
Recent Developments in the Lithium-Ion Battery Metals Market
• In April 2022, Lithion Recycling, a Canadian company, received $18 million in funding from the Quebec government. The funding was granted to further develop battery recycling technology capable of recovering 95% of strategic materials from end-of-life lithium-ion batteries and industrial waste.
• In April 2022, Contemporary Amperex Technology Co. Ltd. (CATL) has been granted exploration rights to a lithium clay deposit in China. CATL announced that it has obtained exploration rights for $135 million and further announced that the exploration site contains approximately 2.66 million tonnes of lithium metal oxide.
• In April 2022, Nissan and NASA announced that they were collaborating to develop solid-state lithium-ion batteries. The partnership aims to develop solid-state batteries ideal for application in the commercial and aerospace industries.
Demand – Drivers and Limits
The following are the demand drivers for the lithium-ion battery metals market:
• Increase in sales of electric vehicles
• Growing demand for applications in consumer electronics
• Performance advantages of lithium-ion batteries over lead-acid batteries
The market is also expected to face some limitations owing to the following challenges:
• Rise in lithium, cobalt and nickel prices
• Human rights issues related to cobalt mining
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of metals and chemicals available for deployment and their potential globally. Additionally, the study provides the reader with a detailed understanding of the Lithium Ion Battery Metals market by end-use application (automotive industry, consumer electronics, energy storage systems, and other end-use applications), constituent metals (lithium, cobalt, nickel, and other constituent metals), and by cellular chemistries (lithium-cobalt oxide (LCO), nickel-cobalt-manganese (NCM), nickel-cobalt-aluminum (NCA) , lithium-magnesium oxide (LMO), lithium-iron-phosphate (LFP), and other cellular chemistries).
Growth/Marketing Strategy: The lithium ion battery metals market has witnessed major development by the major players operating in the market such as business expansion, partnership, collaboration and joint venture. The preferred strategy for companies has been mergers and acquisitions to strengthen their position in the market for metals for lithium-ion batteries.
For example, in March 2022, Rio Tinto completed the acquisition of Rincon’s lithium project for $825 million in Argentina after receiving approval from the Foreign Investment Review Board (FIRB) in Australia.
Competitive Strategy: The major lithium-ion battery metals market players analyzed and profiled in the study involve major metal mining companies and cell chemistry manufacturers. Additionally, a detailed benchmarking analysis of the players operating in the Lithium Ion Battery Metals market has been carried out. to help the reader understand how players compare to each other, presenting a clear market landscape.
Moreover, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand the untapped revenue pockets in the market.
Key Market Players and Competition Summary
The profiled companies have been selected based on input collected from primary experts and analysis of company coverage, product portfolio and market penetration.
Some important established names in this market are:
• Umicore AG
• L&F Co., Ltd.
• Nichia Corporation
• BASF TODA Battery Materials LLC
• Jiangxi Ganfeng Lithium Co., Ltd.
• Albemarle Corporation
• China Molybdenum Co., Ltd.
• Tianqi Lithium Corporation
• Sumitomo Metal Mining Co., Ltd.
• NEI Company
• Huayou Cobalt Co., Ltd.
• Toda Kogyo Company
• CoreMax Corporation
• Lygend Resources & Technology Co., Ltd.
• Nickel from Norilsk
• POSCO CHEMICAL
• Glencore PLC
• Wildcat discovery technologies
• Echion Technologies Ltd.
• CAMX Power LLC
• Texpower EV Technologies, Inc.
• North America
• Rest of Europe
• Asia-Pacific and Japan
• South Korea
• Rest of Asia-Pacific and Japan
• South America
• Rest of South America
• Middle East and Africa
• South Africa
• Saudi Arabia
• Democratic Republic of Congo (DRC)
• Rest of the Middle East and Africa
Read the full report: https://www.reportlinker.com/p06287394/?utm_source=GNW
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