Status of the Rechargeable Li-ion Battery Industry 2021

From Technologies to Markets

© 2021

From Technologies to MarketsFrom Technologies to Markets

Status of the RechargeableLi-ion Battery Industry 2021

Market and Technology Report

Sample

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TABLE OF CONTENTSPart 1/4

• Scope of the report p7• Methodology used inYole Développement reports p8• About the author p9• Companies list p10• What we saw / what we missed p11• Who should be interested in this report p12• Three page summary p14• Executive summary p18• Introduction p54

Battery typesLi-ion battery compositionDifferent Li-ion battery cells - comparative table

• Market forecast p58Li-ion battery market segments2020 - 2026 Li-ion battery cell demand in MWh - consumer electronics2020 - 2026 Li-ion battery cell market value in $M - consumer electronics2020 - 2026 Li-ion battery cell demand in GWh - E-mobility2020 - 2026 Li-ion battery cell market value in $M - E-mobility2020 - 2026 Li-ion battery cell demand in MWh - stationary battery energystorage2020 - 2026 Li-ion battery cell market value in $M - stationary battery energystorage applicationsHow does E-mobility impact stationary battery market demand?2020 - 2026 total Li-ion battery cell demand (GWh)2020 - 2026 Li-ion battery cell market - total value ($B)2020 - 2026 battery cell average selling price – evolutionWhat impacts the price?Where is the potential for battery pack cost decrease?

• Market trends p72How is Li-ion battery demand growing?Li-ion battery - key applicationsLi-ion battery applications, as analyzed in this report

Large battery capacity - not necessarily a sign of high-end productBattery capacity range, by applicationLi-ion battery requirements for different applications - overviewConsumer electronics – main drivers and market segmentsLi-ion battery-powered cordless power toolsConsumer electronics – battery requirementsMain drivers for electric mobilityElectric mobilityEV/HEV – CO2 reduction regulations as the main DriverEV/HEV – different electrification levels and their associated CO2

reductionHow EVs/HEVs drive technology innovationBatteries as a charging speed bottleneckEV/HEV - battery requirementsLight commercial vehiclesElectric and hybrid-electric busesElectric trucksBattery in electric trucks must compete with other solutionsE-scootersE-bikesMain drivers for stationary battery energy-storage applicationsBenefits of battery for stationary battery applicationsEV/HEV charging and intermittent renewable sources drive the stationarybattery marketStationary battery storage - challengesNew stationary battery segment - buffer battery for EV/HEV charging

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Li-ion battery recycling supply chain movement – partnerships and Merger andAcquisitionSecond-life battery - supply chain trendsSecond-life battery - drivers and challengesSecond-life batteries - partnershipsBattery-cell manufacturersBattery cell manufacturers, split by cell chemistry and cell formatBattery pack manufacturersLi-ion battery supply chain - gigafactories worldwide

Cell production capacity (gigafactories) announced in EuropeCell production capacity (gigafactories) announced in Asia and in the USAGlobal battery production capacity vs. battery demand (in GWh)

Top battery manufacturers’ market sharesWho is doing what - LG Energy SolutionWho is doing what – CATLLi-ion battery supply chainAnnouncements about new battery manufacturing capaci- investment strategyties-Partnerships, joint ventures and merger & acquisitionLi-ion battery - manufacturing and testing equipment suppliersBattery integrators - consumer electronicsBattery integrators - cordless toolsBattery integrators - electric and hybrid electric vehiclesBattery integrators - electric busesBattery integrators - electric trucksStationary battery and battery inverter suppliersLi-ion battery supply chain - horizontal and vertical integrationSupply chain reshaping - focus on non-mainstream applicationsMoving to another business segment is not so easy…

• Battery cost analysis p176General information about the analyzed EV batteriesAnode cost comparison


Battery electricity storage systems for buildings -V2HVehicle-to-grid (V2G)Space applications – main market driversSpace applications - battery usage and applicationsSpace applications - battery specifications and requirementsAerospace applications - main drivers and market segmentsAerospace applications - battery specifications and requirements

• Li-ion battery supply chain p119Numerous players can find opportunities in the Li-ion battery businessLi-ion battery raw material suppliers - cobaltCobalt supply chain flowGlencore supply chainLi-ion battery raw material – lithium-How much lithium is in everyday items?Li-ion battery raw material suppliers - lithiumThe lithium supply chain is being reshapedGanfeng Lithium - supply partnershipsLithium resources and applicationsLi-ion battery raw materials supply chain - top ten countriesLi-ion battery component suppliers – anode – graphite based2020 top graphite-based anode material manufacturers market sharesLi-ion battery material developers – Anode – silicon basedLi-ion battery component suppliers – cathode2020 top cathode material manufacturers market sharesLi-ion battery component suppliers – electrolyte2020 top electrolyte manufacturers market sharesLi-ion battery separator - developers and manufacturers2020 top separator material manufacturers market sharesFuture separator manufacturing capacity expansionLi-ion battery component suppliers - otherLi-ion battery recycling companies – geographic overview


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Different Li-ion battery cells - comparative tableComparative graph of energy density for different Li-ion battery cellsLithium manganese oxide (LMO) cathodeLithium iron phosphate (LFP) cathodeLithium nickel cobalt aluminium oxide (NCA) cathodeLithium cobalt oxide (LCO) cathodeLithium nickel cobalt manganese oxide (NMC) cathodeNCM as a “universal” cell technologyTechnology trends – cathode

Towards nickel-rich and low cobalt cellsNext-generation NMC 811 cathodeLG Energy’s pouch NMC 721 cathodeNCMA batteryTowards cobalt-free cells

Technology trends – anodeMain Li-ion battery anode material trendsTechnology trends - anodeLithium -Titanate (LTO) anodeGraphene-based anode materials

Separator - overviewTechnology trends – separator

Polyolefin based separatorCeramic separators

Technology trends – electrolyteSolid-state electrolyte

Towards “beyond Li-ion” technologies• Technology trends - Battery pack p248

Global trends in battery packBattery pack components


Cathode cost comparisonSeparators cost comparisonElectrolytes cost comparisonCell materials cost comparison2019 - 2025 BEV battery cell price and cost of cells-to-pack integrationTake away

• Li-ion battery main challenges p186Technology and market challengesKey Challenges - Fast chargingKey Challenges – safetyKey Challenges – cost

• Li-ion battery innovation p197Tesla 4680 tab-less batteryGM - LG Energy solution Ultium batteriesBYD blade battery

• Technology trends p204How technology trends are interlinked with the factors of battery choiceHow smartphones drive Li-ion battery technology innovationsHow EV/HEV drive Li-ion battery technology innovationsTechnology trends - towards higher cell safetyFour main axes of Li-ion battery cell developmentTwo main axes of innovation - cell and pack levelIs lower environmental impact an important criteria for battery customers?

• Technology trends - Battery cell p212Li-ion battery cells - Manufacturing process flowWhat are the limitations/weak points of Li-ion batteries?Battery-cell improvement approachesLi-ion battery trends: battery cell - size, design, and formatsLi-ion battery trends: battery cell - materials


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TABLE OF CONTENTSPart 4/4Three main battery pack development axesLi-ion battery packs - Manufacturing process flowBattery pack voltage and energy capacity, by applicationBattery pack - size, design, and formatsToward higher standardization to reduce battery costsBattery pack approach- cell to module approach

Modular pack – a few examplesBattery pack approach – cell to pack approach

Cell to pack approach - BYD blade batteryCell to pack approach – module pack integrated (MPI) Platform

Battery pack - voltage level and fast-charging capabilityToward 1,500V DC in stationary battery packBattery pack – BMSBattery pack - thermal managementTrends towards higher battery charging power capability

• Second-Life battery and recycling p273Two options for end-of-life EV batteriesLifecycle of a battery packOption 1- recycling of Li-ion batteries

General recycling processBattery recycling - what is recycled, and who are the customers? Li-ion battery recycling processLi-ion battery recycling process - hydrometallurgical methodAdvantages and disadvantages of pyrometallurgical and hydrometallurgicalprocessChallenges in Li-ion battery recycling

Option 2 - Second-life batteriesSecond-life battery applications – examplesSecond-life applications-trendCathode raw-material share of a few battery cellsLi-ion battery recycling technology - innovation

• Conclusion p287Conclusions / Takeaways

Li-ion battery marketApplications - consumer electronicsApplications - E-mobilityApplications - stationary energy storageBattery technologies - Li-ion and “beyond Li-ion” technologiesBattery technologies - focus on Li-ionBattery technologies - second-life battery and recyclingLi-ion battery supply chain

• Yole Group of Companies presentation p297


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Biography & contactABOUT THE AUTHOR

Shalu Agarwal, PhD.

Shalu Agarwal, PhD. is Power Electronics and Materials Analyst at Yole Développement (Yole),within the Power & Wireless division. Based on Seoul,Shalu is engaged in the development of technology & market reports as well as the production of custom consulting studies. Shalu has more than 10years’ experience in Electronic Material Chemistry. Before joining Yole, she worked as a project manager and research professor in the field ofelectronic materials, batteries and inorganic chemistry. Shalu Agarwal received her master’s and Ph.D. degree in Chemistry from the Indian institute ofTechnology (IIT) Roorkee (India).

E-mail: [email protected]


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This report:

• Offer deep insights into the rechargeable Li-ion battery market, covering the three main application segments: consumerelectronics, electric mobility, and stationary energy storage.

• Furnish 2020 - 2026 battery demand data (in GWh) and market value (in $M) for different Li-ion battery applications.

• Offer a thorough analysis of different Li-ion chemistries and their future applicative potential.

• Discuss the cost analysis of various type of Li-ion batteries.

• Discuss main challenges associated with Li-ion batteries

• Discuss the main technology trends for Li-ion battery cell materials, formats, sizes, and cell components (cathode, anode,electrolyte, and separator), as well as battery packs.

• Provide a detailed overview of the Li-ion battery supply chain, ranging from raw material supply, cell components, andmanufacturing/testing equipment, to battery integrators in different applications, and battery recycling companies.

SCOPE OF THIS REPORT

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BATTERY TYPES

Battery type

Primary (non-rechargeable)

Secondary (rechargeable)

Alkaline Nickel-metal hydride Lithium-ion Lead-acid Nickel-cadmium

Lithium manganese oxide (LMO)

cathode

Lithium iron phosphate (LFP)

cathode

Lithium nickel cobalt aluminum oxide (NCA)

cathode

Lithium cobalt oxide (LCO)

cathode

Lithium nickel cobalt manganese oxide (NCM) cathode

Examples


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BATTERY CELL - TECHNOLOGY TRENDS

Main battery cell trends are aligned with much sought-after higher energy density.


Less cobalt and nickel-rich

Affordable batteriesCathode

Anode

Electrolyte

Cell

NMC NCALFP LTO

NMC

Li-S*

LMO NMC 622

NMC 532

NMC811

Lithium metal anode

Solid-state electrolyte

Solid-state battery (no separator)

NMC 721

*Li-S: Lithium-Sulfur

2019 2020 2025 and beyondInnovationChange

Separator-free Li-ion battery

2021

NCMA

LFP

Graphene anode

Separator

Progressive evolution

Cell format and form factor optimized for a given applicationFast-charging-capable cellsIncreasing cell energy density and energy capacity per cell

Beyond Li-ion technologies

High-performance batteries

Growing silicon-rich anode share

Growing ceramic separator share

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2020 - 2026 LI-ION BATTERY MARKET FORECAST


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LI-ION BATTERIES – COST ANALYSIS


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LI-ION BATTERY RAW MATERIALS SUPPLY CHAINTop ten countries - 2020 ranking

Some countries are very crucial in the battery raw materials supply chain.China tops the list with the world's leading producer of graphite.

DRC- Democratic Republic of the Congo

Top 10 Li-ion battery raw materials countries of productionStatus of the Rechargeable Li-ion Battery Industry 2021| Sample | www.yole.fr | ©2021

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TOP LI-ION BATTERY COMPONENTS MANUFACTURERS 2020


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LI-ION BATTERY SUPPLY CHAIN


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LI-ION BATTERY SUPPLY CHAIN - GIGAFACTORIES WORLDWIDE


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LI-ION BATTERIES - TECHNOLOGY AND MARKET CHALLENGESMain challenges

There are many challenges associated with Li-ion batteries.

Greater safety

Better performance(e.g. fast charging)

Lower cost

Main challenges associated with Li-ion batteries


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TOWARD ENHANCED Li-ion BATTERY SAFETY

Although Li-ion battery chemistries are associated with intrinsic safety issues, the final battery pack can be designed and built to be very safe.

Safe

ty le

vel

Integration levelChemistry Cell Pack System

High

Low

Adapted high-voltage cables

Thermal management

Modular approach (low-voltage modules)

BMS

Housing

Connectors

Protection components

Battery placement

Fire-suppression system

Safe chemistry

Ceramic separator

Non-flammable electrolyte

Cell housing

Cell safety vent

LFP

LCO

NCA

NMC

LMO

LTO

Fire-suppression system

Li-ion battery

Even ‘safe’ present some hazards.


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LI-ION BATTERY PACK TRENDSBattery pack - voltage level and fast-charging capability

Higher-power charging capability

• Battery charging in minutes instead of hours

• Driven by:

• Trends towards full electric vehicles

• Increasing battery pack energy capacity in kWh

• Development and deployment of ultrafast charging stations with charging power over 150kW (up to over 350kW)

• It requires suitable cells, cell interconnections, thermal management (cooling), and safety solutions for battery pack.

Higher battery-pack voltage

• A battery pack voltage increase enables higher speed charging, desired by car manufacturers and car users.

• Today, the mainstream battery pack voltage in passenger vehicles is about 400V . The trends, especially in premium, long-range vehicles is to increase the battery voltage to “800V level” (it can be 650V, 800V, 900V, etc.). Similar voltage level is used also in electric buses, trucks and some off-road vehicles.

• Higher voltage enables lower Joule losses in battery pack wiring, inverter and motor wiring, wiring weight, volume and cost reduction, and easier integration in the vehicle.

• In stationary battery energy systems, there is a trend to increase battery voltage toward 1,500V, as this value is increasingly used in photovoltaic systems (often associated with battery storage systems).

Some high-power charging stations can fast-charge a single car, or charge several cars simultaneously

Source: ABB

Porsche Taycan using 800V approach Benefits of 800V approach:

~400V ~800V

Up to 1500V

Premium BEVs

Stationary battery energy storage

1,500V1,000V


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LI-ION BATTERY INNOVATION – A FEW EXAMPLES


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• Second life-battery representsan additional added-value forend-of-life EV/HEV batteries.

• As the number of EVsincreasing every year,theoretically/ideally more andmore end-of-life batteriesshould go for second-lifeapplications before beingrecycled.

• However, currently, the numberof EVs is marginal, and mosthave yet not reached end-of-life. Therefore, the questionsabout the real trend of second-life-application are still pendingand will only find their answersthrough the actual practice ofrecycling and second-lifeapplications of EV batteries.

SECOND-LIFE APPLICATIONS-TREND

Second-life application

RecyclingEV

batteries

EV batteries

Recycling

Today

Next 3 - 5 years

5+ yearsSecond-life application

EV batteries

Recycling

Ideal/theoretical trend of second-life-applications

Second-life application

Real trend of second-life-application


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Contact ourSales Team for more information

Power Electronics for E-Mobility 2021

Lithium-ion Battery Recycling Market & Technology Trends 2020

Solid-State Battery 2021

DC Charging for Plug-In Electric Vehicles 2021

YOLE GROUP OF COMPANIES RELATED REPORTSYole Développement


Li-ion Battery Packs for Automotive and Stationary Storage

Applications 2020

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Status of the Rechargeable Li-ion Battery Industry 2021