According to Transparency Market Research, the global lithium-ion battery market was valued at in 2015 and is expected to reach by 2024. This growth is projected to be achieved at a CAGR of 11.6% during the forecast period. The research indicates that an increasing shift towards clean and sustainable energy in the automobile industry plays a major role in the global lithium-ion battery market. High capacity batteries are now in higher demand because of their usage in HEVs, BEVs, and EVs. An increasing shift towards clean and sustainable fuels in the automobile industry is the chief driving factor for the growth of global lithium-ion battery market. An essential component of the LIB market is the chemical element of Cobalt. Like nickel, cobalt is found in the Earth’s crust only in chemically combined form. According to Benchmark Mineral Intelligence, 75% of lithium-ion battery cathode capacities are expected to contain some volume of cobalt by 2020. LiCo Energy Metals Inc , First Cobalt Corp , Katanga Mining Limited , Panasonic Corporation , Lundin Mining Corp.
Source: PR Newswire