Global Electric Vehicle Metals Market 2021-2026

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    GLOBAL ELECTRIC VEHICLE METALS MARKET

     

    INTRODUCTION

    EVs initially appeared in the mid-nineteenth century, when electricity was one of the favoured ways of motor vehicle propulsion, giving a degree of comfort and simplicity of operation that gasoline automobiles of the period could not match. Automobile interior package design practices have been greatly aided over the past thirty years by the development of a variety of standardized tools to represent the behaviour of vehicle occupants, particularly drivers.

     

    This would require the Vehicle to be replaced with a varied class of specially designed engines depending upon the source of power being generated within the Vehicular Drivetrain System. As compared to IC Engines based Vehicles, the technology which is to be integrated into the renewable energy-based vehicles is focused on catering to the requirements of Light Weight vehicles by usage of Various Combinations and Lighter Metals.

     

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    EV revolution will strongly impact metals demand, but is difficult to quantify in terms of timing/volume. As compared to petrol and diesel engines, the consumption of metals produced by EV Companies in the manufacturing of EV engines is much more intensive. The process requires 2 to 27 times more of nickel, 2 to 4 times more of copper, and 12 to 17 times more of PGM (the latter are particularly important for fuel cell vehicles).

     

    Limitations in the supply of critical metals needed to produce efficient and high-performing electric vehicles. Production of some of these metals, such as nickel, praseodymium, neodymium, cobalt, dysprosium, and lithium, would have to scale threefold in the coming ten years to meet projected global electric vehicle demand.

     

    RECENT ELECTRIC VEHICLE METALS MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 AI Based mineral exploration company has signed contract to search EV based Metals in Greenland Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, has signed an agreement with London-listed Bluejay Mining to search in Greenland for critical materials used in electric vehicles. UK – Greenland This would enhance better EV Adoption and better technologies harnessing.
    2 Phillips 66 to acquire stake in NOVONIX as demand for EV battery materials rises Phillips 66 makes specialty coke, a key precursor in the production of batteries that power electric vehicles, personal electronics, medical devices, and energy storage units. It has acquired the lithium-ion battery material supplier NOVONIX Limited for $150 million. USA This would help in better presence and social responsibility on increased levels of requirements
    3 US Initiative towards Battey Metals The Federal Consortium for Advanced Batteries, a cross-agency group chaired by the Department of Energy, released the first ever National Blueprint for Lithium Batteries to guide the development of a domestic battery industry that helps the U.S. meet its climate targets. Among other goals, the blueprint calls for eliminating nickel and cobalt from lithium batteries by 2030. USA This would improve its presence and production capability of new generation climate control goals.

     

    GLOBAL ELECTRIC VEHICLE METALS MARKET DYNAMICS

    The demands placed on future electric vehicle cockpits are very considerable: Car drivers expect the same kind of seamless connectivity that they have become accustomed to when using their smartphones; the automotive industry’s safety and security standards are very stringent; and vehicle manufacturers want highly versatile systems that cost as little as possible.

     

    The electric vehicle industry is clearly facing a period of intensive growth, which will boost long-term demand for key metals. However, so far experts have not come to a consensus on market growth projections. One of the most likely drivers of EV expansion will be government policy in many developed countries committed to introducing a broad range of incentives to promote the production of green cars, up to imposing an ultimate ban on the sale of cars with internal combustion engines.

     

    For the past 20, 30, 40 years, fuel economy has been the most important element in automobiles and aeronautics. Cars were made using a lot of iron throughout the 1960s and 1970s. They functioned properly, but they were hefty, and as fuel prices climbed, they had to be replaced.

     

    There is a whole separate issue with electric cars (EVs): batteries are hefty. The overall weight of an EV’s power pack is more than that of a gasoline or diesel car’s engine. All of this adds fuel to the effort to decrease vehicle weight and develop new materials. Steels and irons were the base material for a long time and there are hundreds of different variations. As other materials have come to the EV auto industry they have got much better.

     

    Given the increasing demand for metals, increased mining production can be expected. This expansion can lead to severe local environmental and social issues, making it imperative that mining is done as sustainable and fair a manner as possible.

     

    GLOBAL ELECTRIC VEHICLE METALS MARKET SEGMENTATION

     

    The Global Electric Vehicle Metals Market can be segmented into following categories for further analysis.

     

    By EV Battery Based on Metals Type

    • Lithium Nickel Manganese Cobalt (Li-NMC)
    • Lithium Iron Phosphate (LFP)
    • Lithium Cobalt Oxide (LCO)
    • Lithium Titanate Oxide (LTO)
    • Lithium Manganese Oxide (LMO)
    • Lithium Nickel Cobalt Aluminium Oxide (NCA)

     

    By Vehicular Usage Type

    • Light Motor Vehicles
    • Light Commercial Vehicles
    • Specialised Vehicles
    • Heavy Commercial Vehicles

     

    By Automotive Steel Classification

    • Ultra-high Strength Hot forming Steel
    • High Strength Steel
    • Reinforced Steel
    • Plain Steel
    • Advanced High Strength Steel – Automotive Class

     

    By Processing Placement Area

    • Body Structuring
    • PowerTrain / Drivetrain
    • Suspension
    • Internal Component parts
    • External Feature Parts
    • Sensor Systems
    • Chassis Structure
    • Engine Systems

     

    By Regional Classification

    • Asia Pacific Region – APAC
    • Middle East and Gulf Region
    • Africa Region
    • North America Region
    • Europe Region
    • Latin America and Caribbean Region

     

    RECENT MARKET TECHNOLOGICAL TRENDS IN GLOBAL ELECTRIC VEHICLE METALS

    Critical metals are also used as leverage to exert political influence. Moreover, mining activities are sometimes related to human rights violations and frequently cause significant environmental damage. With growing worldwide demand for critical metals, the risk of geopolitical conflicts increases as well. Supply constraints or temporary disruptions could delay the large-scale deployment of sustainable energy technologies (such as electric transport).

     

    The reliance on certain metals can be reduced by replacing alternative metals for key metals. From a social standpoint, this looks to be the simplest option, but it is difficult and may impair performance and efficiency. Critical metals, such as cobalt, are used in the production of electric cars, for the motor and batteries for example. In the last few years, there has been a lot of media attention on the growing worldwide concerns about the increasing dependence on these critical metals.

     

    The elements neodymium, dysprosium, and praseodymium – which are needed for the motors in electric cars – are also needed to produce wind turbines. The scarcity of these elements will create tensions between different sustainable technologies. For the electric motor, a substitution rate of neodymium, dysprosium and praseodymium which equals the cobalt substitution rate for batteries. Consequently, the number of critical metals per vehicle lowers by 30% in 2030, compared to 2020.

     

    COMPETITIVE LANDSCAPE

    Approximately 80% of all nickel output is currently utilised in alloys. Approximately 90% of new nickel sold each year goes into alloys, with the remaining two-thirds going into stainless steel manufacturing. With the advent of the nickel cobalt battery in the 1990’s (think camcorder and the Prius), and the subsequent advances in the use of nickel both in Lithium-ion EV batteries as well as in nickel-cobalt batteries, nickel is now playing a fundamental role in delivering low-cost, long range vehicle batteries. 

     

    BHP Group has been focusing on manufacturing of Nickel Metal for EV Integrations at various levels. Nickel has been making a vital contribution to the lithium-ion batteries that power electric vehicles. When the battery has more nickel, the vehicle can drive for longer. A 60kwh NMC811 battery needs 5kg of cobalt, 5kg of manganese, 6kg of lithium and 39kg of nickel. BHP’s open-cut and underground operations in the Northern Goldfields mine nickel sulphide ore, which is crushed and concentrated at two massive nickel concentrators utilising nickel sulphide flotation technology.

     

    The AMG (Advanced Metallurgical Group) is a well-known global supplier of essential metals (such as vanadium, tantalum, niobium, and lithium), mineral products (such as graphite), highly specialised furnace systems, and related services. Largo Resources has been using vanadium for battery electrolytes which could be twice as profitable as supplying it for steel production, which is currently the major industrial use for the abundant metal.

     

    COMPANIES PROFILED

     

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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