How will e-mobility reshape the lithium ion battery supply chain?
KEY FEATURES OF THE REPORT
- Detailed discussion about rechargeable Li-ion battery technology and market trends and how they will reshape the Li-ion battery supply chain
- Li-ion cell market and market shares of main players in 2016
- Market size in kWh and revenue forecast in $M for Li-ion cells for 2017-2022
- Application and sector size breakdown in each of the three key markets: Consumer, electric mobility and stationary battery energy storage
- Technology analysis, covering cell materials and pouch, cylindrical and prismatic formats
- Detailed overview of Li-ion battery supply chains, ranging from raw material supply, cell components, manufacturing and testing equipment to applications
- Business models, supply chain evolution and presentation of opportunities for existing players as well as for newcomers into the Li-ion battery market
OBJECTIVES OF THE REPORT
This report’s objectives are to:
- Provide an overview of the rechargeable Li-ion battery market covering the three main application segments: consumer electronics, electric mobility and stationary energy storage.
- Furnish market data for different Li-ion cell applications.
- Offer deep insight into Li-ion chemistries, their future application potential and how their market share will evolve.
- Present the main technology trends for Li-ion battery cell materials, formats, sizes and cell components.
- Deliver a detailed overview of Li-ion battery supply chains, ranging from raw material supply, cell components, manufacturing and testing equipment, to applications.
Table of contents
Report objectives 7
Companies cited in this report 8
List of abbreviations 9
Executive summary 10
Lithium-ion battery market 33
- Market forecast methodology
- Main Li-ion battery applications
- 2016 – 2022 Li-ion battery cell demand for consumer electronics (GWh)
- 2016 – 2022 Li-ion battery cell market value for consumer electronics ($M)
- 2016 – 2022 Li-ion battery cell demand for e-mobility (GWh)
- 2016 – 2022 Li-ion battery cell market value for e-mobility ($M)
- 2016 – 2022 Li-ion battery cell demand for stationary battery energy storage applications (GWh)
- 2016 – 2022 Total Li-ion battery cell demand (GWh)
- 2016 – 2022 Li-ion battery cell market value for stationary battery energy storage applications ($M)
- 2016 – 2022 Total Li-ion battery cell demand (GWh)
- 2016 – 2022 Total Li-ion battery cell market value ($M)
Li-ion battery cost 47
Li-ion battery applications 57
- Consumer electronics
- Electric mobility
- Stationary battery energy storage
Li-ion battery cell technologies 80
- Comparative table of different Li-ion battery cells
- Comparative graph of energy densities of different Li-ion battery cells
- Which Li-ion battery type for which application?
- Growing interest in NMC battery cells
- Main Li-ion battery cell formats
- Battery cell format and cell cooling
- Li-ion cell energy capacity for different cell formats
- Battery pack voltage and energy capacity per application
Li-ion battery manufacturing and testing 98
- Li-ion battery manufacturing and testing 98
- Manufacturing process flow for Li-ion battery cells
- Manufacturing process flow for Li-ion battery packs
- Battery cell/module/pack characterization/testing steps
Raw material availability 105
- Potentially critical raw materials for Li-ion batteries: lithium, cobalt, graphite
- Factors influencing raw material impact on LIB market and supply chain
Second life battery and recycling 112
Technology trends in Li-ion batteries 123
- Main trends in Li-ion battery industry
- How smartphones drive the technology innovations in Li-ion batteries
- How EV/HEV drive the technology innovations in Li-ion batteries
- Technology trends – battery cell formats
- Technology trends – cell type
- Technology trends – cathode
- Application trends – cell type
- Cell cathode material share evolution
- Technology trends – anode
- Separator – overview
- Technology trends – separator
- Technology trends – electrolyte
- Solid state battery – new electrolyte type, no separator
- Global battery cell trends
- Global Li-ion battery cell trends
- Battery pack trends
- Why go to 800V battery pack voltage?
- Four main axes of Li-ion battery cell development
Li-ion battery supply chain, partnerships and business models 150
- Li-ion battery raw material suppliers – graphite
- Li-ion battery raw material suppliers – cobalt
- Li-ion battery raw material suppliers – lithium
- Li-ion battery component suppliers – anode
- Li-ion battery component suppliers – cathode
- Li-ion battery components suppliers – electrolyte
- LIB separator developers and manufacturers
- Market shares of the leading LIB separator suppliers
- Li-ion battery component suppliers – other
- Battery cell manufacturers
- Tentative market shares of the top ten Li-ion battery cell manufacturers
- Battery pack manufacturers
- Battery cell manufacturers, split per cell chemistry and cell format
- Li-ion battery manufacturing and testing equipment suppliers
- Companies involved in Li-ion battery recycling
- What are the origins of battery players and how did they evolve?
- Automotive players entering stationary battery electricity storage market
- Supply chain reshaping – focus on non-mainstream applications
- Li-ion battery supply chain relationships: from mining to cell
- Li-ion battery supply chain relationships: from cell to system
- Stationary battery applications supply chain overview
- EV/HEV Li-ion battery supply chain relationships
- Stationary Li-ion battery supply chain relationships
- Li-ion battery supply chain mergers and acquisitions: from mining to cell
- Li-ion battery supply chain mergers and acquisitions: from cell to system
- Synergies create new opportunities for partnerships and integration
- Synergies between EV/HEV and batteries
- Integration trends within the Li-ion battery value chain
- How to avoid to being squeezed between high input costs and low cell prices?
THE RECHARGEABLE LITHIUM ION (LI-ION) BATTERY MARKET WILL GROW STRONGLY AND STEADILY, WITH A 20% COMPOUND ANNUAL GROWTH RATE (CAGR) FROM 2016-2022
Li-ion batteries have become the technology of choice for many applications. The rechargeable Li-ion battery cell market will be worth $59.1 billion by 2022, thanks to a 20% CAGR from 2016–2022, as shown in Figure 1. Consumer electronics, the traditional Li-ion battery market segment, has been overtaken by electric mobility, which includes electric and hybrid electric vehicles (EV/HEV), electric buses, trucks, and bikes. In 2022, e-mobility will represent 72% of the total rechargeable Li-ion battery cell market’s value.
According to Yole Développement’s analysis, the global demand for battery cells in GWh will rise by more than 400% between 2016 and 2022. To satisfy such huge demand for Li-ion batteries, large manufacturing facilities have to be built in coming years. This provides an opportunity for new players, which can take part in a growing market more easily, and will also result in accelerated implementation of innovations in materials, equipment and processes. The Li-ion industry might therefore experience accelerated technology consolidation and supply chain reshaping, as happened in the photovoltaic industry.
E-MOBILITY PROVIDES OPPORTUNITIES FOR PLAYERS ALREADY PRESENT IN THE BATTERY INDUSTRY, BUT ALSO FROM OTHER INDUSTRIES
There are numerous business opportunities within the Li-ion supply chain, from raw material mining to material preparation, cell component production, cell manufacturing, integration of battery cells into battery packs and final battery systems.
Rapidly growing demand for e-mobility applications will mean that access to and prices of raw materials will be the focus of leading battery players. The most critical materials are cobalt, lithium and graphite. Yole Développement’s report provides a focus on those materials and their main suppliers. It also gives insights into battery recycling as an additional source of raw materials and second-life batteries, which can help to reduce the need for manufacturing of new batteries, namely for stationary battery applications.
The Li-ion battery industry is refocusing from consumer applications to e-mobility, which needs different battery characteristics. One example is in the cathode material. LiCoO2 (LCO) is mainly used in consumer electronics and was the dominant Li-ion cell cathode material in the past. Today, the largest cathode material segment is LiNiMnCoO2 (NMC), which better matches the needs of the huge EV/HEV market, but also of most other applications, as shown in Figure 3. Therefore, material suppliers and cell makers today focus on NMC technology. The players with the necessary IP and know-how could rapidly increase their revenues by positioning themselves in this market early. Similar trends can be expected for separators, where the trend is toward ceramic separators providing better thermal stability, anodes and electrolytes.
Further innovations are needed both in battery cell and pack manufacturing. As shown in the report, material costs and equipment depreciation represent a large part of battery cell cost. New materials, equipment and processes are being introduced to the battery industry from chemical, microelectronics, power electronics and other industries, providing opportunities for the technology leaders well-established in those industries. Several players such as Manz, F&D Delvotec and Schunk Sonosystems have already developed specific tools for battery manufacturing.
Other players involved in wire bonding, ultrasonic welding, laser processing and other technologies will follow, by providing equipment and processes for high-speed, highly-automated battery cell and pack manufacturing.
THE LI-ION SUPPLY CHAIN WILL BE SIGNIFICANTLY RESHAPED
As the dominant market segment, e-mobility will drive battery technology development and reshape the Li-ion battery supply chain. EV/HEVs are the main focus of both new entrants and established players, but there is growing interest in other applications, like electric bikes, buses and forklifts.
Many small players and newcomers are trying to minimize the competition they face by focusing on battery market segments that are non-mainstream or have very specific battery characteristic needs, as shown.
As new Li-ion battery markets mature, the supply chain will become increasingly vertically and horizontally integrated. The report analyses the different integration drivers and main trends in detail, and provides the examples of partnerships, mergers and acquisitions.
High cell material costs and the increasing pressure on the cell prices motivate some cell manufacturers to seek higher margins through vertical integration towards cell material manufacturing. Other companies are integrating vertically towards battery pack applications to offer complete product solutions.
Horizontal integration secures cell manufacturers sales in different markets, making their business less susceptible to growing competition.
EV/HEV players like BYD, Tesla, Daimler, BMW and Nissan have already entered the stationary battery storage market. BYD and Daimler are also focusing on other e-mobility applications such as e-buses and trucks.
3M, A123 Systems, ABB, Akasol, Albermarle, Asahi Kasei, ATL, Aoyu Graphite Group, BASF, Bitrode, BMW, BMZ, Bosch, BTR, BYD, CALB, CATL, China Baoan Group, Daikin, Daimler, Digatron, DNP, Dongguan HONBRO Li-ion Battery Equipment Technology Co., Ltd., E-One Moli Energy, Electrovaya, F&K Delvotec, Dow, Dynapower, FDK, Festo, FMC, Freudenberg, Focus Graphite, Freeport McMoran, Furukawa Electric, Glencore, GS Yuasa, Henan Kelong New Energy, Hioki, Hitachi, Hitachi Chemical, Huayou Cobalt, IF, Ingeteam, JFE, Johnson Matthey, Kanto Denka Kogyo, Kokam, Kulicke & Soffa, Leclanché, LG Chem, Lishen, Litarion, M+W, Maison Graphite, Maccor, Manz, Mitsubishi Chemical, Mitsubishi Motors, Mitsui Chemical, Morita, NEC Energy Solutions, Nichia, Nippon Carbon, Nippon Chemical Corporation, Nippon Denko, Nissan, Northern Graphite, Panasonic, Parker, Red Fairy, Saft, Samsung SDI, SEC Crabon, Scud, SGL Group, SK, Schneider Electric, Schunk Sonosystems, Showa Denko, Senior, SK Innovation, SMA, Sonnen, SONY, Sovema, SQM, Stella, Sumitomo Chemical, Sumitomo Metal Mining (SMM), Sungrow, Sunstone, Tanaka Chemical Corporation, Targray, Tektronix, Tesla, Toda Kogyo, Toppan, Toray, Toshiba, Total, Toyota, UACJ, UBE, Umicore, Wanxiang and more
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