Global Lithium Ion Battery Market to Explode Over the Next Decade
The global lithium ion battery (LIB) market is expected to grow six fold over the next 10 years, creating unprecedented opportunities for graphite developers. Addressing the Paydirt Australian Graphite Conference in Perth during April, only the second time the sector’s key forum has been held, the ASX listed Battery Minerals’ Executive Chairman David Flanagan, said the scope of the LIB market opportunity should not be under-estimated.
“This market was worth around $1 billion last calendar year and industry experts are putting a total value on it by 2027 of around $60 billion,” Flanagan said. “Of this total sector, at least half of that value or some $30 billion, will come from the actual materials market required to provide componentry for the batteries.