Global key battery raw materials

What will the global demand for battery materials be in 2040?

The global demand for raw materials for batteries such as nickel, graphite and lithium is projected to increase in 2040 by 20, 19 and 14 times, respectively, compared to 2020. China will continue to be the major supplier of battery-grade raw materials over 2030, even though global supply of these materials will be increasingly diversified.

How is global supply in battery minerals affecting the future?

For the global supply in battery minerals, the scaling-up of mining capacities is keeping pace with the growing demand in the medium term, while global mineral reserves are sufficient to support future battery production in the long term.

Will China continue to supply battery-grade raw materials over 2030?

China will continue to be the major supplier of battery-grade raw materials over 2030, even though global supply of these materials will be increasingly diversified. Possible supply shortages will remain.

Which countries can provide a low-risk battery supply to the EU?

Australia and Canada are the two countries with the greatest potential to provide additional and low-risk supply to the EU for almost all battery raw materials. Enhancing circularity along the battery value chains has potential to decrease EU’s supply dependency.

Are batteries sustainable?

For instance, the EU Batteries Regulation aims to make batteries sustainable throughout their entire life cycle, from material sourcing to battery collection, recycling, and repurposing. Pressure to address ESG concerns will likely increase moving forward.

Will the EU be reliant on battery raw materials?

However, it is likely that the EU will be import reliant to various degrees for primary and processed (batt-grade) materials. Australia and Canada are the two countries with the greatest potential to provide additional and low-risk supply to the EU for almost all battery raw materials.