The market for cathode materials in 2018 is about $16.43 billion. Industry experts and analysts project it to grow to slightly over $22 billion in five years, which is a compound annual growth rate of about 6%. Typically, this is a significant rate of market growth. However, this depends on the current price of cobalt and nickel as well as how the supply chain sticks to the projected price chart. These market players have to check their batteries for the following things:
Different applications have various demands for energy. It is therefore an economical option only to choose a battery that will supply your industry application with the required power.
Safety and Performance
Also, consider whether the batteries you are purchasing are safe for use in your facility and that they are not costly to maintain. Be keen to check that the battery pack that you will choose comes with a manufacturer’s warranty. Read through and sign the warranty form. Then, confirm that the batteries have a high rating for performance and energy-efficiency over their service life.
When deciding how to rate the current price of lithium, graphite, cobalt, and nickel, consider the specific application in which you will use the batteries. Typically, that will cover how current developments rate in the use of these batteries in hybrid electric vehicles, portable battery packs, and utility-scale storage of renewable energy. Both the independent and collective consultation of manufacturers, distributors and other industry movers will play a significant role in guiding how and when to integrate higher technologies into these batteries applications.