Regardless of rising cobalt prices, consulting company Arthur D. Little (ADL) expects that lithium-ion batteries will prevail in the long run. In a new study titled “Future of batteries: Winner takes all?”, the market watchers conclude that upcoming technological innovation will secure top position for this type of battery. Over the last two years, new players invested more than $13.7 billion in this sector. Innovations, such as solid-state electrolyte li-ion batteries, will replace existing battery technologies over the long-term. This is thanks to improved performance and innovation delivery combined with consumer pull and willingness to pay for better solutions, the ADL study says.
Michaël Kolk, Partner and Head of ADL’s Global Chemicals Practice, explains: “Battery technology is undergoing the biggest disruption in its 150-plus-year history, driven by the need for better solutions in areas such as electric vehicles and renewable power. However, companies need to beware of the risks, as well as the huge potential of the market, if they are to emerge victorious in the future.”