Youmin Rong

It will certainly be in the rate of interests of more or less everybody associated with the "wider lithium-ion battery supply chain" to develop efficient reusing communities, according to an analyst with IHS Markit.

The business knowledge firm has predicted storage space prices will certainly proceed their down trajectory on the back of item and also process optimization. That will favor a higher adoption price in auto as well as grid applications, the analysts claim. Somewhere else, explorations of lithium in the U.S. and also the U.K. have actually increased hopes for lower raw material prices and more supply chain variety.

When Sony first commercially introduced lithium-ion batteries in 1991, the industry recognized their potential to revolutionize portable electronics. Ever since, there have been countless efforts to improve the technology, with many researchers focusing on energy density and longevity, in line with demand from emerging applications such as electric vehicles (EVs) and on-grid energy storage. Julian Jansen and Youmin Rong of IHS Markit discuss the effect of safety concerns on this rapidly growing global market.