A forecast on future raw material demand and recycling potential of lithium-ion batteries in electric vehicles

The market for electromobility has grown constantly in the last years. To ensure a future supply of raw materials for the production of new batteries for electric vehicles, it is essential to estimate the future demand for battery metals. This study focuses on the future demand for electric vehicle battery cathode raw materials lithium, cobalt, nickel, and manganese by considering different technology and growth scenarios. The results show that in 2040 the future material demand for lithium, cobalt, and nickel for Lithium-Ion Batteries in electric vehicles exceeds current raw material production. Depending on the growth and technology scenario, the future demand for lithium and cobalt exceeds today's…