Expected ROI of nickel manganese cobalt battery project in Sweden 2030

Will lithium & cobalt produce more manganese in 2040?

The quantities of material demand for manganese used in LIBs are low in contrast to the high global production volume. However, the calculation for lithium and cobalt predicts a higher material demand in 2040 than the production volume of these battery metals in 2021. In the case of nickel, it depends on the technology and growth scenario.

Are end-of-life batteries the future of lithium & cobalt?

T&E’s new analysis finds that: End-of-Life batteries and scrap from battery gigafactories in Europe have potential to provide 14% of all lithium, 16% of nickel, 17% of manganese, and a quarter of cobalt demand by 2030 already.

What is McKinsey's 2030 battery raw materials supply outlook?

McKinsey's 2030 battery raw materials supply outlook (Source: McKinsey) McKinsey's analysis indicates a geographic concentration in the supply chains of these critical materials, posing significant risks.

How much lithium & cobalt will be recycled by 2040?

Cumulatively, recycling could supply about 105 kt of lithium (LCE), nickel, cobalt and manganese by 2030, with volumes potentially more than tripling to 390 kt by 2040. These recovered materials could meet 11%-19% of the demand from EVs and ESS by 2030 and 19%-53% by 2040, depending on the metal and evolving battery chemistries.

Will manganese demand outpace the demand for battery-grade materials?

Meanwhile, the supply of manganese is projected to grow moderately through 2030, but an increasing demand for battery-grade material is likely to outpace supply, requiring the development of new refineries.

Can battery manufacturers securing supply of essential battery raw materials by 2030?

Based on current market observations, battery manufacturers can expect challenges securing supply of several essential battery raw materials by 2030, McKinsey’s report finds. Battery makers use more than 80% of all lithium that is mined today, and that share could grow to 95% by 2030.