U.S.: Lithium Battery Market 2024

Lithium Battery Market Size in the U.S.

The U.S. lithium battery market surged to $X in 2021, increasing by 31% against the previous year. Over the period under review, consumption posted prominent growth. Lithium battery consumption peaked in 2021 and is likely to continue growth in the immediate term.

Lithium Battery Production in the U.S.

In value terms, lithium battery production dropped sharply to $X in 2021. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +26.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 54% against the previous year. As a result, production reached the peak level of $X, and then dropped notably in the following year.

Lithium Battery Exports

Exports from the U.S.

In 2021, overseas shipments of lithium cells ans batteries decreased by -29.5% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, lithium battery exports amounted to $X in 2021. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 19% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

Mexico (X tons) was the main destination for lithium battery exports from the United States, accounting for a 49% share of total exports. Moreover, lithium battery exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-1.1% per year) and the Netherlands (-0.5% per year).

In value terms, the largest markets for lithium battery exported from the United States were Mexico ($X), Switzerland ($X) and Canada ($X), with a combined 39% share of total exports. Singapore, Ireland, Germany, the UK, the Netherlands, the United Arab Emirates, Japan, Brazil and Poland lagged somewhat behind, together comprising a further 31%.

Singapore, with a CAGR of +13.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lithium battery export price amounted to $X per ton, surging by 53% against the previous year. Over the period under review, the export price recorded resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 137%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+49.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Battery Imports

Imports into the U.S.

In 2021, the amount of lithium cells ans batteries imported into the United States skyrocketed to X tons, jumping by 17% against the previous year's figure. Overall, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 37% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, lithium battery imports soared to $X in 2021. The total import value increased at an average annual rate of +2.5% 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 2017 when imports increased by 22%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Singapore (X tons), China (X tons) and Japan (X tons) were the main suppliers of lithium battery imports to the United States, together accounting for 81% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +29.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lithium battery suppliers to the United States were Singapore ($X), China ($X) and Japan ($X), with a combined 51% share of total imports.

Among the main suppliers, Singapore, with a CAGR of +15.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lithium battery import price stood at $X per ton in 2021, stabilizing at the previous year. Overall, the import price saw a deep reduction. The pace of growth appeared the most rapid in 2015 an increase of 5.6% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Canada ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+34.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform