What metal has the highest energy storage demand

Are EVs and battery storage the fastest growing consumer of lithium?

Since 2015, EVs and battery storage have surpassed consumer electronics to become the largest consumers of lithium, together accounting for 30% of total current demand. As countries step up their climate ambitions, clean energy technologies are set to become the fastest-growing segment of demand for most minerals.

Are EVs and battery storage causing mineral demand growth?

In both scenarios, EVs and battery storage account for about half of the mineral demand growth from clean energy technologies over the next two decades, spurred by surging demand for battery materials. Mineral demand from EVs and battery storage grows tenfold in the STEPS and over 30 times in the SDS over the period to 2040.

Which metals will grow fastest in 2040?

By weight, mineral demand in 2040 is dominated by graphite, copper and nickel. Lithium sees the fastest growth rate, with demand growing by over 40 times in the SDS. The shift towards lower cobalt chemistries for batteries helps to limit growth in cobalt, displaced by growth in nickel. IEA. Licence: CC BY 4.0

Which metal is most recyclable?

Copper is also one of the world's most recyclable metals. Nickel: The last of the energy transition’s four major minerals is nickel. Nickel is another key ingredient in Li-ion batteries, particularly in advanced cathode chemistries.

Are metal reserves a constraint on future demand?

For other minerals, current reserves could be a constraint on future demand—especially lithium and lead, but also for zinc, silver, and silicon. Importantly, however, metal reserves and production are not static.

Are energy transitions driving demand for minerals?

Energy transitions are already the major driving force for total demand growth for some minerals. Since 2015, EVs and battery storage have surpassed consumer electronics to become the largest consumers of lithium, together accounting for 30% of total current demand.