Report: Lithium lull makes nickel top priority for US battery OEMs despite difficult sourcing environment

Rethink Energy has published a new report analyzing battery raw material supply chains up to 2030, looking at how current raw material prices will affect future supply and whether or not this can meet demand. The report also analyzes battery cell prices and how prices will continue to fall amidst... Read more →


IDTechEx is forecasting a 35% CAGR in automotive software-related revenue by 2034, with software-related revenue worth more than US$700 billion annually (US, 2023 prices) by 2034. To put this into everyday terms, IDTechEx forecasts that by 2034, the average new car buyer will be paying ~US$70 per month on software... Read more →


In a new report—“Fuel Cell Electric Vehicles 2024-2044: Markets, Technologies, and Forecasts”—IDTechEx predicts that fuel cell electric vehicles will account for just 4% of zero-emission vehicles on the road in 2044, but the opportunity is greater in certain market segments. Battery electric vehicles (BEVs) have made monumental progress in the... Read more →


Argus: Weak nickel fundamentals to weigh on EV market

In an end-of-year outlook, consultancy Argus forecasts that demand will grow in 2024 for nickel-based battery cathodes, their component ingredient nickel sulfate and input feedstocks after a slowdown this year. However, Argus adds, supply is set to outpace this growth, with a ramp up in mixed hydroxide precipitate (MHP) and... Read more →


As of 2023, Taiwan holds approximately 46% of global semiconductor foundry capacity, followed by China (26%), South Korea (12%), the US (6%), and Japan (2%), according to TrendForce. However, due to government incentives and subsidies promoting local production in countries such as China and the US, the semiconductor production capacities... Read more →


ABI Research: surging EV adoption will propel public EV charging revenue to $164B by 2035

Government decarbonization targets and Electric Vehicle (EV) subsidies are driving the adoption of EVs worldwide. By 2035, EVs will make up 27% of all registered cars, requiring a massive increase in public charging infrastructure to support them. New research from global technology intelligence firm ABI Research finds that revenue from... Read more →


In a new report, “Copper Demand for Cars 2024-2034: Trends, Utilization, Forecasts”, IDTechEx forecasts that automotive copper demand will reach 5MT (1MT = 1 billion kilograms) of annual demand in 2034. Autonomy and electrification will drive the growth from today’s demand, but the component that dominates the demand will still... Read more →


In its Short-Term Energy Outlook, the US Energy Information Administration (EIA) forecasts the lowest annual petroleum consumption in Japan in 2024 since at least 1980, in part due to the country’s aging and declining population. Japan’s reduced consumption is already affecting its refining industry. Japanese refiner ENEOS permanently closed a... Read more →


The US Energy Information Administration (EIA) expects North America’s liquefied natural gas (LNG) export capacity to expand to 24.3 billion cubic feet per day (Bcf/d) from 11.4 Bcf/d today as Mexico and Canada place their first LNG export terminals into service and the United States adds to its existing LNG... Read more →


EIA forecasts global oil supply to increase and per capita gasoline consumption to fall in 2024

The US Energy Information Administration (EIA) expects global liquid fuels production to increase by 1.0 million barrels per day next year. EIA expects OPEC+ production cuts will remain in place through the end of 2024 and offset non-OPEC production growth. EIA expects a slight decline in global oil inventories in... Read more →


Exponential growth in electric vehicle (EV) sales is transforming the auto sector faster than currently predicted, with EVs set to dominate global car sales by the end of the decade, putting at risk nearly half of worldwide oil demand, according to new analysis by RMI in partnership with the Bezos... Read more →


According to the latest data from J.D. Power, EV adoption in the US is growing increasingly divided, with the most active states for EV adoption already on the path to parity with internal combustion engine (ICE) vehicles and consumers steadily pulling back on EV purchases in the least-active states. On... Read more →


Demand for manganese in batteries is set to grow over eight-fold this decade, due to new battery chemistries and rising electric vehicle sales, according to Benchmark’s Manganese Sulphate Market Outlook. Manganese is a crucial element in nickel cobalt manganese (NMC) cathodes and can be used to improve the range of... Read more →


Global EV sales reached 7.7 million units in 2022, up from 1.4 million units in 2018, and are anticipated to reach 51.6 million units in 2035, driven by government mandates and infrastructure investments, according to GlobalData, a data and analytics company. GlobalData’s latest report, “Electric Vehicles Market Report, Update 2023... Read more →


The US Energy Information Administration (EIA) expects US crude oil production to surpass 12.9 million barrels per day for the first time in late 2023 and to exceed 13 million barrels per day in early 2024. In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to... Read more →


The lithium industry needs to invest $116 billion by 2030 if the world is to meet the ambitions targets set by governments and the largest automakers, according to a Benchmark analysis. This is more than double the $54-billion investment needed to meet Benchmark’s base case lithium demand scenario. This is... Read more →


More than 1GWh of batteries are now sailing on waters globally, reflecting 72% industry growth in 2022, according to a new report from IDTechEx. Despite this, there have been several challenges that shipbuilders and maritime battery suppliers have had to navigate in recent years. First, electric ship markets have historically... Read more →


Africa’s mined lithium production output is set to increase more than ten-fold this decade, according to Benchmark’s Lithium Forecast. This will increase the region’s strength in the supply of critical minerals beyond cobalt, which the continent has historically dominated. Benchmark’s Lithium Forecast shows that the region is expected to account... Read more →


The global market for ammonia is poised to triple in the coming decades with nearly all of the growth coming from low-carbon ammonia, according to a new analysis by S&P Global Commodity Insights. Driven by improved economics resulting from decarbonization policies, low-carbon ammonia is expected to grow from its current... Read more →


In a new report, Deloitte forecasts that the clean hydrogen market will top the value of the liquid natural gas trade by 2030 and grow further to US$1.4 trillion per year by 2050. In the report, Deloitte uses clean hydrogen to encompass both green hydrogen— produced from renewable electricity via... Read more →


A new NREL study has estimated the number, type, and location of the charger infrastructure needed to support 30–42 million light-duty electric vehicles on the road by 2030. Between ambitious federal clean energy policies, pledges by automotive companies to transition to zero-emission vehicles, and accelerating consumer demand for EVs, analysts... Read more →


Globally, the battery industry needs to invest at least $514 billion across the whole supply chain to meet expected demand in 2030, and $920 billion by 2035, according to a new analysis by Benchmark. Demand for lithium ion batteries is forecast to grow to 3.7 terawatt-hours by 2030, up from... Read more →


ABI Research projects worldwide commercial EV market to surpass US$680B by 2027

According to global technology intelligence firm ABI Research, the worldwide commercial Electric Vehicle (EV) market is projected to grow from US$30.7 billion in 2020 to more than US$682 billion by 2030. This market valuation refers to the total industry-wide global revenues derived from all commercials EVs sold yearly. The growing... Read more →


A study by a team from Carnegie Mellon University and Yale Universitysuggests that BEVs could constitute the majority or near-majority of cars and SUVs by 2030, given widespread BEV availability and technology trends. Their open-access paper is published in Proceedings of the National Academy of Sciences (PNAS). A suggestive market-wide... Read more →


Nornickel presents market review of nickel and platinum group metals

Russia-based Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, presented its eleventh review of the nickel and platinum group metals (PGM) markets based on the fundamental analysis of world economic and industry data. Nickel. In early 2023, nickel has been... Read more →


Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. The new forecast, produced by the S&P Global Commodity Insights Oil Sands Dialogue, expects Canadian oil sands production to reach... Read more →


An economic study by research group Steer, and commissioned by T&E, looked at future operating costs of hydrogen planes on intra-European flights and found that they could be an efficient, cost competitive technology to decarbonize the sector, provided kerosene is taxed adequately. (If fossil kerosene is taxed in line with... Read more →


The Cobalt Institute’s Cobalt Market Report, prepared by Benchmark Mineral Intelligence, finds that cobalt market conditions have weakened substantially since the price peak in 2022. This dynamic will likely remain through to 2024, the report says, as a plentiful and growing supply surplus maintains pressure on prices. However, in the... Read more →


Electricity is continuing to gain traction in previously thought to be hard-to-electrify sectors including heavy trucking and aviation. Electricity’s share in transport will grow from 1% today to 23% in 2050, according to DNV’s latest Transport in Transition report. DNV’s Transport in Transition report draws on DNV’s system dynamics-based Energy... Read more →


Adamas Intelligence: market for magnet rare earth oxides to increase five-fold by 2040; undersupply expected

Following a latent demand pop in 2021 that saw the materialization of some pent-up demand from the year prior, Adamas Intelligence data indicates that global consumption of NdFeB magnets increased just 1.9% year-over-year in 2022, suppressed by global economic headwinds and regional pandemic-related challenges. Now, in its latest annual report... Read more →


A team from Cornell, with a colleague from Paul Scherrer Institute, has analyzed the trade-off between the decarbonization potential of the road transportation sector and its critical metal requirement from the demand-side perspective in 48 major countries committing to decarbonize their road transportation sectors aided by electric vehicles (EVs). In... Read more →


IEA forecasts world oil demand to hit record 101.9 million b/d in 2023; non-OECD to account for 90% of growth

In its April Oil Market Report, the International Energy Agency (IEA) forecasts that world oil demand will climb by 2 mb/d in 2023 to a record 101.9 million barrels per day. Reflecting the widening disparity between regions, non-OECD countries, buoyed by a resurgent China, will account for 90% of growth.... Read more →


EIA forecasts 2023 global production of liquid fuels to exceed 101 MMb/d for first time

In its April Short-Term Energy Outlook (STEO), the US. Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oil price by 2.5% from its previous forecast. This change came after OPEC and its partner countries (OPEC+) announced crude oil production cuts for 2023. EIA expects the Brent... Read more →


A new survey of automakers and Tier 1 suppliers conducted by Ducker Carlisle concludes that as electric vehicles continue to enter the mass market, aluminum demand will grow through the end of the decade. The report—“2023 North American Light Vehicle Aluminum Content and Outlook”—released by the Aluminum Association indicates that... Read more →


IDTechEx forecasts that the second-life EV battery market will reach US$7B in value by 2033. The second-life EV battery market adds value to future energy infrastructure, creates a circular economy for electric vehicle (EV) batteries, and provides a lower levelized cost of storage compared to new batteries. A new IDTechEx... Read more →


Adamas Intelligence predicts that in 2023, a booming 762.9 GWh of battery capacity will be deployed onto roads in newly passenger EVs globally (+/- 12%). Additionally, Adamas projects that 19.7 million passenger EVs (HEVs, PHEVs, BEVs) will be sold globally (+/- 10%) in 2023, translating to a sales-weighted average pack... Read more →


Polestar and Rivia have collaborated on a ‘Pathway Report’ which concludes that the automotive industry is set to overshoot the IPCC’s 1.5-degree pathway by at least 75% by 2050. The report, which uses existing, open-source data to model the current trajectory for emissions stemming from the car industry, was carried... Read more →


In 2022, Adamas Intelligence calculated that $3.8 billion worth of magnet rare earth oxides—i.e., NdPr, Dy and Tb oxides—were consumed globally in NdFeB alloys for energy-transition-related applications, including EV traction motors and wind power generators. The total value of rare earth oxides consumed for the energy transition each year quadrupled... Read more →


US production capacity for renewable diesel could more than double from current levels by the end of 2025, based on several announcements for projects that are either under construction or could start development soon, according to the US Energy Information Administration (EIA). EIA estimates US renewable diesel production capacity was... Read more →


In the first half of 2022, motors with oil cooling became the dominant form in the electric car market, taking 50% market share, according to a report from IDTechEx. The downside of oil cooling is the addition of extra components and typically, the water-glycol circuit still exists to remove the... Read more →


In its January 2023 Short-Term Energy Outlook, the US Energy Information Administration (EIA) forecasts that crude oil production in the United States will average 12.4 million barrels per day (b/d) in 2023 and 12.8 million b/d in 2024, surpassing the previous record of 12.3 million b/d set in 2019. In... Read more →


EIA expects record global petroleum consumption in 2024, with lower crude oil prices

The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. According to EIA’s January Short-Term Energy Outlook (STEO), global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for... Read more →


Juniper Research: Connected vehicles to surpass 367M globally by 2027, up from 192M in 2023; role of operators

A new Juniper Research study forecasts that the number of connected vehicles in service will reach 367 million globally in 2027, from 192 million in 2023. This growth of 91% will be driven by the advancement of both ADAS (Advanced Driver Assistance Systems) and increasing the capabilities of in-vehicle infotainment... Read more →


A wave of new planned electric vehicle battery plants will increase North America’s battery manufacturing capacity from 55 Gigawatt-hours per year (GWh/year) in 2021 to 998 GWh/year by 2030, according to the US Department of Energy (DOE). Most of the announced battery plant projects are scheduled to begin production between... Read more →


The worldwide semiconductor industry is projected to invest more than $500 billion in 84 volume chipmaking facilities starting construction from 2021 to 2023, with segments including automotive and high-performance computing (HPC) fueling the spending increases, SEMI announced in its latest quarterly World Fab Forecast report. The projected growth in global... Read more →


Juniper: Mobility-as-a-Service spend to exceed 350% globally over next 5 years

A new study from Juniper Research found that MaaS (Mobility‑as‑a‑Service) will generate revenue of $92 billion globally by 2027; up from $20 billion in 2022. Growing by 357% over the period, the main drivers will be the cost and convenience of MaaS solutions and the increased investment into MaaS infrastructure.... Read more →


As demand for electric vehicles (EVs) soars, spurred by government incentives and a push to decarbonize the transportation sector, the global battery industry is set to attract significant attention and investment. Rystad Energy forecasts total EV sales this year will reach nearly 10 million units, a 43% jump from 2021... Read more →


China continues to dominate BloombergNEF’s (BNEF) global lithium-ion battery supply chain ranking, for the third time in a row, for both 2022 and its projection for 2027, due to continued support for the electric vehicle demand and raw materials investments. China currently hosts 75% of all battery cell manufacturing capacity... Read more →


EIA expects continued high prices for diesel and home heating oils

The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. According to EIA’s November Short-Term Energy Outlook (STEO), diesel prices will remain higher than $5 per gallon the remainder... Read more →


Benchmark: Indonesia could become major cobalt producer; forecasts 30x boost

Indonesia is both the world’s largest nickel producer and the country with the biggest nickel reserves. (Most of Indonesia’s nickel output is currently Class 2 nickel, a low-purity type used for stainless steel. The country’s government and the mining sector are determined to transform its nickel industry to meet the... Read more →