Why Lithium Prices Soared 480% Last Year

Why Lithium Prices Soared 480% Last Year

Dr Yunlong Zhao from the School of Advanced Technology at the University of Surrey explained:

"We've all heard horror stories about lithium-ion batteries in shipping environments, often with case rupture issues caused by exposure to stressful environments such as extreme temperature changes. Our research demonstrates that it is possible to produce more robust solid-state lithium-ion batteries. batteries, which should provide a promising approach to high-energy and safe future models for real-life examples such as electric vehicles."

Using the Surrey Ion Beam Centre's state-of-the-art national facility, the small team implanted xenon ions into ceramic oxide materials to create solid-state electrolytes. The team found that their method created a battery electrolyte with a 30-fold improvement in lifespan compared to batteries that were not injected into the battery.

"We live in a world that is more aware of the damage humans are doing to the environment. We hope our batteries and methods will help advance the science of high-energy batteries, ultimately leading us into a more sustainable future."

The University of Surrey is a leading research institution focused on sustainable development for the benefit of society in response to the many challenges of climate change. It is also committed to improving the efficiency of its own real estate resources and becoming an industry leader. It has pledged to be carbon neutral by 2030. In April, it was ranked 55th in the world in the Times Higher Education (THE) University Impact Rankings, which assess the performance of more than 1,400 universities on the United Nations Sustainable Development Goals (SDGs).

To combat climate change and support American energy independence, President Joe Biden on Monday announced a $3 billion commitment to increase the nation's supply of lithium-ion batteries through a bipartisan infrastructure plan.

Lithium prices surged 480% last year

Biden used the bill because the long-term and short-term market challenges facing the U.S. battery supply chain are well documented. Joseph Johnson, a market intelligence manager at a technology consultancy that analyzes trends in the solar and energy storage industries, noted that this comes after a review of supply chains for key minerals that Biden ordered.

According to a recent forecast from MarketsandMarkets, the size of the global power tools market – projected to be $34.3 billion in 2021 – is projected to grow 5.7% annually by 2026, reaching $45.2 billion.

Hottest product? Cordless power tools, drilling and fastening tools, and those intended for pro users.

Top by Power: Electric Tools

Based on the mode of operation, the electric segment held the largest share of the power equipment market in 2020 and is expected to continue to gain profits till 2026. Innovations in battery technology and increasing adoption of cordless devices will fuel the growth of electrical appliances. between industrial and residential users.

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