Revenue from Materials for Advanced Batteries Is Expected to Total More than $132 Billion from 2014-2023, According to Navigant Research

Declining battery prices are also affecting the advanced batteries materials supply chain, report finds

BOULDER, Colo.--()--A recent report from Navigant Research examines the global materials supply chain of the advanced batteries industry, including global market forecasts for capacity, shipments, and revenue for key raw materials inputs for advanced batteries through 2023.

Since 1991, when the first mass-produced lithium ion (Li-ion) batteries emerged, the market for advanced batteries and shipments of the materials used to manufacture them has steadily increased. Today, with growing demand for batteries in stationary, portable, and transportation applications, a variety of new advanced battery chemistries are replacing the long-used lead-acid and primary alkaline chemistries, spurring industry-wide growth and transformation. Click to tweet: According to a recent report from Navigant Research, worldwide revenue for materials for advanced batteries is expected to total $132.2 billion from 2014 through 2023.

“With greater manufacturing scale, expertise, and a maturing supply chain, more advanced batteries are being purchased and more products containing them are being sold,” says Sam Jaffe, principal research analyst with Navigant Research. “As the industry continues to transform, capacity and materials shipments are also anticipated to continue to increase, with the number of annual shipments expected to nearly triple during the forecast period.”

While the enhanced capabilities that advanced batteries can enable has been a major driver in the increased shipments of materials for these batteries, a decline in the prices of batteries themselves is also contributing. During the last 5 years, according to the report, the factories in which batteries are made have become larger, while manufacturing yield losses have decreased and supply chain ecosystems have become established, nudging prices down.

The report, “Materials for Advanced Batteries,” analyzes the global materials supply chain of the advanced batteries industry. It explores the market drivers and barriers and growth trends for the advanced batteries materials market. Global market forecasts for the capacity, shipments, and revenue of key raw materials inputs for advanced batteries, including lithium, cobalt, nickel, copper, and aluminum, and processed materials such as lithium carbonate, cathode powders, and fully processed graphite, extend through 2023. The report also examines the key advanced battery chemistries and materials and discusses the strengths and weaknesses of the major industry players. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the report, “Materials for Advanced Batteries,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Contacts

Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Megan Maupin, +1-312-583-5703
megan.maupin@navigant.com

Release Summary

Worldwide revenue for materials for advanced batteries is expected to total $132.2 billion from 2014 through 2023, according to Navigant Research.

Contacts

Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Megan Maupin, +1-312-583-5703
megan.maupin@navigant.com