Asia-Pacific: Lithium Battery Market 2024

Lithium Battery Market Size in Asia-Pacific

The Asia-Pacific lithium battery market fell dramatically to $X in 2021, reducing by -26.6% against the previous year. Overall, consumption recorded a deep contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Lithium Battery Production in Asia-Pacific

In value terms, lithium battery production rose sharply to $X in 2021 estimated in export price. In general, production, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 15% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Lithium Battery Exports

Exports in Asia-Pacific

In 2021, approx. X tons of lithium cells ans batteries were exported in Asia-Pacific; rising by 25% against 2020. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.8% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 56%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, lithium battery exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when exports increased by 23%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

In 2021, China (X tons) represented the key exporter of lithium cells ans batteries, creating 35% of total exports. It was distantly followed by Indonesia (X tons), Singapore (X tons), Hong Kong SAR (X tons), Japan (X tons) and South Korea (X tons), together comprising a 59% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the lithium cells ans batteries exports, with a CAGR of +29.8% from 2012 to 2021. At the same time, South Korea (+9.3%), Hong Kong SAR (+6.3%), Indonesia (+5.4%), Japan (+3.2%) and Taiwan (Chinese) (+1.9%) displayed positive paces of growth. By contrast, Singapore (-1.7%) illustrated a downward trend over the same period. While the share of China (+28 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-1.6 p.p.), Japan (-3.6 p.p.), Indonesia (-3.9 p.p.) and Singapore (-21.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Hong Kong SAR ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2021, with a combined 61% share of total exports.

China, with a CAGR of +14.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, which is down by -6.9% against the previous year. Over the period under review, the export price recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2015 when the export price increased by 23% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.7%), while the other leaders experienced more modest paces of growth.

Lithium Battery Imports

Imports in Asia-Pacific

In 2021, the amount of lithium cells ans batteries imported in Asia-Pacific shrank modestly to X tons, therefore, remained relatively stable against 2020 figures. In general, imports, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, lithium battery imports rose sharply to $X in 2021. Total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 30% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

Imports by Country

The countries with the highest levels of lithium battery imports in 2021 were Singapore (X tons), Hong Kong SAR (X tons), China (X tons) and Vietnam (X tons), together recording 69% of total import. It was distantly followed by Malaysia (X tons), generating an 8.3% share of total imports. South Korea (X tons), Japan (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Australia (X tons), India (X tons), Indonesia (X tons) and the Philippines (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +59.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Singapore ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 56% share of total imports. These countries were followed by Vietnam, Malaysia, Japan, South Korea, Taiwan (Chinese), Australia, Thailand, India, Indonesia and the Philippines, which together accounted for a further 42%.

Vietnam, with a CAGR of +48.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 8% against the previous year. Over the period under review, the import price, however, recorded a pronounced slump. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while Singapore ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+17.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform