Global Lithium Battery Market Is Projected To Reach $60 Billion By 2020

Date: 2015-11-18

Thanks to the booming demand of consumer electronics such as the mobile phones, personal computers, and other digital products, the global lithium battery industry stays growing over recent years. According to the research, the global lithium battery amounted to $20 billion in 2012, the estimated it will be projected to reach $60 billion by 2020.

Japan, Korea, China are the lithium ion battery main producers. 
Japan was the first country developed lithium ion battery for commercial use, before 2000, global lithium ion batteries were almost all produced in Japan. In 2000, China and South Korea commenced investing in lithium battery industry and having production gradually, nowadays, the lithium battery in China and South Korea shipments increased significantly, at the moment, global lithium battery production is mainly from these three countries.

Currently, there are mainly two types of lithium ion battery we are using in cars: lithium iron phosphate cathode battery and lithium ASP cathode battery.
 Lithium iron phosphate cathode battery, with its outstanding advantage of safety, which can work stably under the condition of temperature as high as 390 degrees Celsius, but its theoretical capacity is relatively and the discharge voltage is relatively low as well, that result full charge endurance of vehicle is shorter than vehicles installed lithium ASP cathode battery. The Chinese company BYD is leading lithium iron phosphate cathode battery in the world.
 Lithium ASP cathode battery, as mentioned above, the lithium ASP cathode battery has excellent storage capacity, but its shortages are also obtrusive, the most changeable disadvantage is its cathode material only can work at deoxygenation under 200 degrees Celsius, that’s mean once its working temperature excesses 200 degrees Celsius, the battery will generate oxygen, and cause bulge in battery surface, which has a potential safety risk. In the market, the global electric vehicle leader Tesla is manufacturing and using this battery in America.

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