Lithium battery peak season

What will the lithium market look like in 2025?

By 2025, the lithium market is expected to stabilize through production cuts, delays in new projects, and strategic stockpiling. Strong demand growth, particularly from the EV and energy storage sectors, will drive modest price recovery, signaling a more balanced future for the industry.

What's going on with the lithium market in 2022?

On the supply side, a drawn-out slump in the lithium market this year — prices remain mired at levels that are less than a fifth of the peak in late 2022 - has led to mines closing or cutting costs in Australia, China and elsewhere.

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 lithium demand for energy storage systems in 2025?

Beyond EVs, lithium demand for energy storage systems is growing rapidly. In 2025, these systems are expected to account for 13% of total lithium demand, with year-on-year growth projected at 45%. The lithium supply chain faced significant disruptions in 2024.

How much lithium ion battery does a car use a year?

In the past five years, over 2 000 GWh of lithium-ion battery capacity has been added worldwide, powering 40 million electric vehicles and thousands of battery storage projects. EVs accounted for over 90% of battery use in the energy sector, with annual volumes hitting a record of more than 750 GWh in 2023 – mostly for passenger cars.