Mining
The Silver Series: Supply and Demand (Part 2)
In 2011, there were 1040.6 million troy oz of silver produced. Of this, 84% was used by industry and the remaining was used as an investment.
Interestingly, traditional uses only account for about a third of silver fabrication. These include jewelry, coins, medals, and silverware. Most is actually consumed in over 10,000 modern industrial applications.
The vast majority of silver supply comes from recycling, net government sales, and mine production. In terms of mine production, the majority comes as a by-product of mining other metals. In addition, about half of all mined silver comes from Latin America.
Although all silver ever mined can fit in a 52m cube, the vast majority has been consumed. While the actual amount is unknown, some experts believe as much as 90-95% ever mined has been ‘lost’ to landfills. For this reason, there is likely less silver available above ground than gold (98% of all gold is accounted for today).
Lithium
Ranked: The Top 10 EV Battery Manufacturers in 2023
Asia dominates this ranking of the world’s largest EV battery manufacturers in 2023.
The Top 10 EV Battery Manufacturers in 2023
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Despite efforts from the U.S. and EU to secure local domestic supply, all major EV battery manufacturers remain based in Asia.
In this graphic we rank the top 10 EV battery manufacturers by total battery deployment (measured in megawatt-hours) in 2023. The data is from EV Volumes.
Chinese Dominance
Contemporary Amperex Technology Co. Limited (CATL) has swiftly risen in less than a decade to claim the title of the largest global battery group.
The Chinese company now has a 34% share of the market and supplies batteries to a range of made-in-China vehicles, including the Tesla Model Y, SAIC’s MG4/Mulan, and various Li Auto models.
| Company | Country | 2023 Production (megawatt-hour) | Share of Total Production |
|---|---|---|---|
| CATL | 🇨🇳 China | 242,700 | 34% |
| BYD | 🇨🇳 China | 115,917 | 16% |
| LG Energy Solution | 🇰🇷 Korea | 108,487 | 15% |
| Panasonic | 🇯🇵 Japan | 56,560 | 8% |
| SK On | 🇰🇷 Korea | 40,711 | 6% |
| Samsung SDI | 🇰🇷 Korea | 35,703 | 5% |
| CALB | 🇨🇳 China | 23,493 | 3% |
| Farasis Energy | 🇨🇳 China | 16,527 | 2% |
| Envision AESC | 🇨🇳 China | 8,342 | 1% |
| Sunwoda | 🇨🇳 China | 6,979 | 1% |
| Other | - | 56,040 | 8% |
In 2023, BYD surpassed LG Energy Solution to claim second place. This was driven by demand from its own models and growth in third-party deals, including providing batteries for the made-in-Germany Tesla Model Y, Toyota bZ3, Changan UNI-V, Venucia V-Online, as well as several Haval and FAW models.
The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment.
Once a leader in the EV battery business, Panasonic now holds the fourth position with an 8% market share, down from 9% last year. With its main client, Tesla, now sourcing batteries from multiple suppliers, the Japanese battery maker seems to be losing its competitive edge in the industry.
Overall, the global EV battery market size is projected to grow from $49 billion in 2022 to $98 billion by 2029, according to Fortune Business Insights.
-
Debt1 week agoHow Debt-to-GDP Ratios Have Changed Since 2000
-
Markets2 weeks agoRanked: The World’s Top Flight Routes, by Revenue
-
Countries2 weeks agoPopulation Projections: The World’s 6 Largest Countries in 2075
-
Markets2 weeks agoThe Top 10 States by Real GDP Growth in 2023
-
Demographics2 weeks agoThe Smallest Gender Wage Gaps in OECD Countries
-
United States2 weeks agoWhere U.S. Inflation Hit the Hardest in March 2024
-
Green2 weeks agoTop Countries By Forest Growth Since 2001
-
United States2 weeks agoRanked: The Largest U.S. Corporations by Number of Employees