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What Factors are encouraging the Demand for Lithium-Ion Batteries?

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MarkNtel Advisors
What Factors are encouraging the Demand for Lithium-Ion Batteries?

A lithium-ion battery is a rechargeable battery that uses lithium-ions as the main component of its electrochemistry. Lithium ions present in the battery move from the negative to the positive electrode during discharging and back when charging.


While discharging, lithium atoms present in the anode are ionized & detached from their electrons. Then lithium-ions travel from the anode to the cathode through the electrolyte. Here, they recombine with their electrons and get electrically neutralized. Since lithium ions are quite small to pass through a micro-permeable separator between the cathode & anode, they pose very high voltage.


Different types of materials can be used as electrodes in lithium-ion batteries. However, the most frequently preferred combination is lithium cobalt oxide (cathode) and graphite (anode), i.e., used majorly in portable electronic devices, including laptops, tablets, & cellphones. On the other hand, lithium manganese oxide, which is used commonly in electric & hybrid vehicles, and lithium iron phosphate, are other common cathode materials used in lithium-ion batteries.


Owing to their extensive usage, especially in the automotive & consumer electronics industries, a recent research study has cited around 15% CAGR for the UK Lithium-Ion Battery Market during 2021-26. Lithium-ion batteries have been in use for over 20 years. From small smartphones to high-power requiring electric automobiles, the high energy density of Li-ion cells makes them more versatile & cost-effective than any other battery technology. These benefits, however, do not warrant them to become risk-free. To understand the unique challenges related to this chemistry, we need to dive deep into the science of battery technology. Nevertheless, let's have a look at some of the prominent advantages of Lithium-Ion batteries.


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Significant Advantages of Lithium-Ion Batteries


·        Environment-Friendly

Most batteries like Lead-Acid and Nickel-Cadmium (Ni-Cd) comprise a high level of toxic heavy metals. However, Lithium-ion batteries have relatively low levels of such metals that make them less harmful to humans, animals, & plants. Hence, they are safer & eco-friendly compared to other types.


·        Require Low Maintenance

Batteries like nickel-metal hydride and nickel-cadmium have a "memory effect" or "lazy battery effect." It means if these batteries are charged repeatedly before being completely discharged, they would only be able to provide energy used during the partial discharges before their voltages drop. This factor fuels the need for regular & proper maintenance of the battery. However, lithium-ion batteries don't suffer from any such effects, which means they deliver energy till their last bit of power and can be recharged either at 100% or 25% of their total capacity without needing any maintenance.  


·        Compact & Lightweight

The most commonly used electrodes in lithium-ion batteries are lightweight. Hence, it is beneficial in making much lighter & compact batteries compared to others. This feature of lithium-ion batteries is highly significant in head torches since it helps increase light output without adding weight to the battery pack.


Takeaway

For Electric vehicles, lithium-ion batteries are the most suitable & appropriate batteries because they provide high energy & power and longer lifetimes than other battery systems available in the market. Therefore, the increasing number of people getting inclined toward Electric Vehicles, coupled with the mounting requirements for lightweight portable electronics, are the most critical factors attributing to the mounting sales of lithium-ion batteries.


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