What is Lithium-Ion Battery?
Lithium-ionbatteries are commonly used for portable electronics and electric vehicles andare growing in popularity for military and aerospace applictions.
Manufacturing Process of Lithium-Ion Battery?
A lithium-ionbattery is created from materials such as nickel and cobalt, which are mixedwith chemicals such as sulphuric acid and an electrolyte. The mixture is thenheated at high temperatures to create a solid mass known as lithium slurry.This slurry is then cooled into a pellet that is used in lithium ion batteries.Once complete, these pellets are shipped to factories for production ofrechargeable batteries. It's also possible to produce cells at home usingreadily available materialsit's just not advisable.
The steps involvedin Li-ion battery manufacturing are:
Heating and Cooling
Testing and assembly
What is the market of Lithium-Ion Battery?
The market forlithium ion batteries is projected to grow from USD 53.9 billion in 2015 to USD92.9 billion by 2021, at a CAGR of 10.6% from 2016 to 2021. The key factorscontributing to this market growth are growing electronics industries,increasing production of electric and hybrid vehicles, and rising focus onenergy efficiency.
The growth of themarket is attributed to the growing demand for the lithium-ion battery inElectric Vehicles (EVs) and grid storage as it offers high-energy densitysolutions and lightweight. The subsequent increase in the registration of EVsand a decrease in the price of the lithium-ion battery is estimated to expandmarket.
Also, a surge insales of EVs and a change in user preferences are likely to drive marketgrowth. The mounting number of photovoltaic installations and nuclear powerplants, along with the beginning of the wind energy projects, is projected topropel market growth over the estimated period.