Rechargeable Batteries
Rechargeable Batteries
- A recent report by the United Nations Conference on trade and development (UNCTAD) said the supply of raw materials required to produce rechargeable batteries is uncertain.
- Rechargeable batteries are crucial to move to clean energy.
- The report is named Commodities at glance: Special issue on Strategic battery and minerals.
Overview
- The report also talks about facilitating research into battery technologies depending less on critical raw materials and had potential to provide higher energy density.
- It also suggested chalking out a strategy that would allow for dynamic monitoring of raw material cycles which include
- Processing
- refining
- manufacturing
- recycling
- This would facilitate early detection of supply risks.
- It would enable development of mitigation strategies both at company level and national level.
- As per the report, the critical raw materials for manufacturing rechargeable batteries are-
- Lithium
- Natural graphite
- Manganese
- There is a large demand for rechargeable batteries due to integration of electric vehicles into global transportation.
- Consequently, the demand for raw material required for rechargeable battery manufacturing will also increase.
- As the raw material production is concentrated in a few countries, the security of supplies should be a concern for all stakeholders.
- Over 60 percent of the world՚s cobalt is mined in Democratic Republic of Congo.
- 75 percent of global Lithium is mined in Australia and Chile.
- Any disruption in supply might lead to
- Tighter markets
- Higher prices
- Increased costs of rechargeable batteries
- As the other sources of energy lose their sheen, the demand of raw materials required for manufacturing rechargeable batteries will grow.
- Cobalt demand is expected to reach 185,000 tonnes by 2023, with about 35 per cent accounting for the EV battery sector.
- Growth in lithium demand has been significant since 2015. It increased 13 per cent per year.
✍Examrace Team at Aug 27, 2021