North America lithium for energy storage batteries

How big is the North America lithium-ion battery market?

North America lithium-ion battery market from the NMC segment is anticipated to exceed USD 9 billion by 2032 owing to high energy density, improved stability, and longer lifespan compared to other product variants. North America Lithium-Ion Battery Market Scope

Why is the US relying on a global lithium battery supply chain?

The United States relies (and, without intervention, will continue to rely) on a global lithium battery supply chain that is highly vulnerable to disruption, as seen in Figure 1. Two issues account for this vulnerability. First, global manufacturing capacity for batteries and battery materials is highly concentrated.

How can the US protect a North American lithium battery supply chain?

To protect U.S. security and critical interests on several fronts, the U.S. government must act immediately to support the timely development of a North American lithium battery supply chain based on U.S. know-how and free from the threat of foreign supply constraints. III. The Li-Bridge Initiative

What should the US government do about the lithium battery market?

The U.S. government must take actions to enhance the expected returns on financial investments in U.S.‐based lithium battery supply chain‐related projects (e.g., battery materials, components, cells, or manufacturing equipment) and reduce the perception of demand uncertainty in the U.S. battery market.

Why are lithium-ion batteries becoming more popular in North America?

The escalating shift towards renewable energy sources necessitates efficient energy storage solutions, with lithium-ion batteries being at the forefront due to their high energy density and longer lifespan. This dual demand is stimulating the production and deployment of Lithium-Ion Battery across North America.

Is a lithium phosphate battery the future of energy storage?

America is finally ramping up a type of battery seen as key to the future of energy storage, as well as more affordable electric vehicles. Korean battery giant LG Energy Solution (LGES) inaugurated America's first lithium iron phosphate (LFP) battery plant in Holland, Michigan, this week.