What is the production cost of lithium-ion batteries in the NCX market?

Under the medium metal prices scenario, the production cost of lithium-ion batteries in the NCX market is projected to increase by +8 % and +1 % for production volumes of 5 and 7.5 TWh, resulting in costs of 110 and 102 US$/kWh cell, respectively.

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.

How big will lithium-ion batteries be in 2022?

But a 2022 analysis by the McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh. 1

What is the future of lithium-ion batteries?

The future of lithium-ion batteries, including threats and opportunities, and recycling potential. Analysis of existing and potential end-uses including consumer electronics demand, glass/ceramics and other non-battery end-use evolution. Supporting demand data to 2040 on lithium demand by end-use and lithium EV demand by region.

Are lithium-ion batteries cost-saving?

Cost-savings in lithium-ion battery production are crucial for promoting widespread adoption of Battery Electric Vehicles and achieving cost-parity with internal combustion engines. This study presents a comprehensive analysis of projected production costs for lithium-ion batteries by 2030, focusing on essential metals.

What is the global demand for Li-ion batteries?

Global demand for Li-ion batteries is expected to soar over the next decade, with the number of GWh required increasing from about 700 GWh in 2022 to around 4.7 TWh by 2030 (Exhibit 1).