According to research conducted by BloombergNEF, annual demand for lithium-ion batteries will sur 2030 TWh per year by 2,7. This estimate is 35% higher than last year’s forecast, largely due to the increased adoption of enger EVs (electric vehicles).
Rogério Mattos, director of Ideatek, Tesvolt’s official representative in Brazil, also shares this premise and said that projections for energy storage should be revised upwards. “The EV market will be one of the main drivers of this growth in demand for lithium batteries, not only for use in electrified cars, but also in charging points. This should help reduce costs significantly,” he highlighted.
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Another point highlighted in the BNEF report is the demand for graphite from lithium-ion batteries, which is expected to increase in relation to the previous year by 37% – which corresponds to 446.914 metric tons in 2021. In total, the company projects an increase 297% by the end of the decade.
“Graphite is one of the main components of the lithium battery, resistant to high temperatures. It is normally used in the anode, helping with stability and also increasing energy density. Its growing use is explained by the expansion of storage”, pointed out Mattos.
Lithium price is expected to rise, but will stabilize in 2022
According to the study, lithium prices will continue to rise in 2021, due to supply constraints as a result of the pandemic and higher demand from China and Europe. Costs have risen, for example, 71% for carbonate this year, 91% for hydroxide and 58% for spodumene concentrate. “We expect all prices to continue to rise but gradually stabilize as more supply comes online in 2022,” BloombergNEF highlighted.
more data
Check out other data presented by BNEF:
- Nickel prices will likely remain within US$18 per metric ton in 2021;
- Demand for cobalt will reach 163.121 tonnes in 2021, leading to a surplus of 3.313 tonnes this year. This projected surplus will depend on the ability of artisanal producers to increase supply;
- The price of cobalt metal could average US$45 per ton at the end of 2021. With the market projected to be relatively surplus this decade, costs are expected to remain at an average of US$44 per ton until 2025;
- Manganese sulfate prices increased 30%, from US$867 per metric ton in January to US$1.128 in June, due to increased demand for batteries. Such values should continue to rise in the second half of the year.
