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.

Are spent lithium-ion batteries a circular economy?

As regulations and economic factors are ranked the highest by the expert panel, this is a clear indication that currently, the circular economy practice of spent lithium-ion batteries needs development at a system level in parallel with the growth of spent battery volumes. 6.3. Limitations and further research

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 a lithium-based battery sustainability framework?

By providing a nuanced understanding of the environmental, economic, and social dimensions of lithium-based batteries, the framework guides policymakers, manufacturers, and consumers toward more informed and sustainable choices in battery production, utilization, and end-of-life management.

What is the value chain depth and concentration of the battery industry?

Value chain depth and concentration of the battery industry vary by country (Exhibit 16). While China has many mature segments, cell suppliers are increasingly announcing capacity expansion in Europe, the United States, and other major markets, to be closer to car manufacturers.

Are lithium-ion batteries a viable energy storage system for EVs?

Lithium-ion batteries (LIB) are the most-used energy storage system in EVs due to their high energy and power densities ( Opitz et al., 2017 ). The EV demand is largely expected to continue contributing to growth in LIB production ( Winslow et al., 2018 ). However, the increased use of LIBs comes with several challenges.