Energy storage lithium battery supply and demand analysis chart

Should lithium-based batteries be a domestic supply chain?

Establishing a domestic supply chain for lithium-based batteries requires a national commitment to both solving breakthrough scientific challenges for new materials and developing a manufacturing base that meets the demands of the growing electric vehicle (EV) and electrical grid storage markets.

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 has demand for lithium-ion technology changed over the last 10 years?

Data collected by Bloomberg shows how demand for the lithium-ion technology in electric vehicles and energy storage has started to quickly increase over the last 10 years. The cumulative demand, at just 0.5 gigawatt-hours in 2010, has soared to roughly 526 gigawatt hours in 2020.

Are lithium-ion batteries the future of consumer technology?

According to Bloomberg, energy companies like Exxon Mobil have been working on lithium-ion batteries for decades. While their focus has been on automotive applications, many consumer technology products wouldn’t exist without this pivotal advancement in battery power.

Are lithium-ion batteries critical materials?

Given the reliance on batteries, the electrified transportation and stationary grid storage sectors are dependent on critical materials; today’s lithium-ion batteries include several critical materials, including lithium, cobalt, nickel, and graphite.13 Strategic vulnerabilities in these sources are being recognized.

What should the US do about lithium-ion batteries?

The U.S. should develop a federal policy framework that supports manufacturing electrodes, cells, and packs domestically and encourages demand growth for lithium-ion batteries. Special attention will be needed to ensure access to clean-energy jobs and a more equitable and durable supply chain that works for all Americans.