Electric Vehicle Boom Drives $483 Billion Lithium Battery Market, Raising Supply and Sustainability Concerns
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Electric vehicle boom and government incentives driving massive growth in lithium-ion battery market, projected to reach $483 billion by 2032.
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Asia Pacific currently dominates production at 79% but Europe and North America aim to challenge that dominance by 2025.
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Supply chain and environmental concerns around lithium mining capability to meet surging demand.
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Focus on advancements in battery chemistry and recycling to enable growth while addressing sustainability.
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Top players like LG, Panasonic, and Samsung competing in an increasingly crowded market alongside risks like safety, geopolitics, and price volatility.