Lithium Ion battery Market is estimated to be US$ 115.6 billion by 2030 with a CAGR of 12.5% during the forecast period
Lithium metal is the third lightest element with low molecular weight, and it can effectively produce batteries with high capacity. In lithium ion batteries, lithium ions move from negative to positive electrodes during discharge and back when charging. Lithium ion batteries are used an intercalated lithium compound as one electrode material but in non-rechargeable lithium battery metallic lithium is used. Lithium ion batteries are the powerhouse for the digital electronic revolution because of high energy density, tiny memory effect and low self-discharge. Increased demand for smartphones and other electronics devices, as well as an increase in the number of electric cars, are some of the major drivers propelling the growth of the global lithium-ion battery market. It is also anticipated that the market growth will be enhanced by the implementation of strict government laws to reduce rising pollution levels. However, it is projected that the high cost of lithium-ion batteri...