Our Sites

IDTechEx forecasts $52 billion market for EV battery cell and pack materials

A new report from IDTechEx, “Materials for Electric Vehicle Battery Cells and Packs 2021-2031,” identifies and analyzes trends in the materials used for the assembly and production of battery cells and battery packs in the electric vehicle (EV) market. The report also provides granular market forecasts for more than 20 key material categories, both by demand (tons) and market value.

The lithium-ion batteries in EVs present very different material demands at the cell and pack level compared with the internal-combustion engine (ICE) vehicles they replace. While ICE drivetrains heavily rely on aluminum and steel alloys, lithium-ion batteries use materials such as nickel, cobalt, lithium, copper, insulation, and thermal interface materials. Demand for these materials will increase rapidly as the market for EVs grows.