Market Change Due To Lithium Ion Battery Materials Suppliers
In 2015, market of lithium battery was normal but it was boosted in 2016 because of increase in the devices that use the battery. This increase helped the lithium ion battery materials suppliers to extract more materials for different components of the battery.
It is being expected that by 2025 the rate of growth will be much high than the current one. It has been expected because the cost of battery has been reduced a lot and its range is also improved. This improvement will also lead to increase in the transportation of the batteries.
Impact on business of the suppliers of lithium ion battery materials
The lithium ion battery is made from various materials and all of them are nonferrous. The main components of the battery include cathode, anode, electrolyte, and separators and separate materials are used to create all of them and assembled to make a battery.
The materials needed for these components include cobalt, nickel, graphite, manganese, aluminum, lithium and copper. Out of these, Manganese, lithium, nickel and cobalt are used to make cathode are known as active materials. Lithium is also used in making electrolyte.
Nowadays people are liking wireless charging and this will also increase the market of the battery and its manufacturing materials. Cathode materials were developed by using cobalt but now they are being developed by nickel. NMC and CAN are very popular all over the world and LFP is being used in China.
Lithium ion battery materials suppliers can be winners or losers
The market for materials required for the battery is rising especially for lithium and cobalt. Since the performance of cobalt is poor, so its market may go down in the near future. Though NMC and NCA have cobalt content but it is very less. Market of other materials may also go up or down so lithium ion battery materials suppliers can be winners or losers.