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Lithium Batteries and Globalization

Date2020-8-28 On Click:749

Nowhere is the scope and scale of industrial globalization more evident than in the manufacture of lithium-ion batteries—the catalyst for the electrification of the world’s transportation systems. According to a recent August 2020 report by Verified Market Research, “The Global Lithium-Ion Battery Market was valued at USD 36.35 Billion in 2019 and is projected to reach USD 115.98 Billion by 2027, growing at a CAGR of 15.6% from 2020 to 2027.”
Lithium-ion batteries are not all the same, however. There are a variety of battery chemistries that are in production and that are used by different electric vehicle (EV) manufacturers. In addition, there are several ways in which the lithium battery raw materials are mined—and batteries that use some chemistries work best with specific lithium extraction techniques. Understand where lithium comes from and who uses what kind of lithium-ion battery, and you can grasp the scale of the global battery industry.

The first commercial lithium-ion battery was developed by Sony in 1991. It used a carbon graphite anode and a lithium-cobalt-oxide cathode that resulted from research by John Goodenough. While graphite anode electrodes have remained fairly constant, over time, a variety of different cathode materials have been developed in a search for batteries that produce more energy, high power levels, longer life, and improved safety.

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