Lithium ion batteries are found everywhere these days and they have become an essential part of modern day life. These batteries have changed the world in a short time period.
The Royal Swedish Academy of Sciences bestowed M. Stanley Whittingham, Akira Yoshino, and John B. Goodenough with Nobel Prize in Chemistry this October. These three scientists have invented lithium-ion batteries, which have metamorphosed the world of portable electronics. The Royal Swedish Academy of Sciences stated “They created a rechargeable world.”
Scarcity of Raw Materials Needed to Make Lithium Batteries can Hamper its Market Growth
Lithium ion batteries were commercialized in 1991 and now these batteries are powering countless pacemakers, cellphones, scooters, laptops, hearing aids, cameras, tablets, bikes, and solar panels. It can even power long-distance electric cars.
According to Paul Coxon, University of Cambridge’s Department of Materials Science and Metallurgy, opined that more than two thirds of the total global population possesses a tablet, a smartphone, or a laptop and almost all of them run of lithium ion batteries.
These batteries have remarkably improved mobility of human beings and enabled millions to gain access to services and information online using mobile phones in developing nations. Dependence on fossil fuels has been diminished with the growing use of lithium ion batteries. Particularly, with the gaining popularity of electric cars, the use of lithium ion batteries is gathering further momentum. In addition, these batteries can be utilized in combination with fluctuating yet renewable sources of energy like wind or Sun. It is capable of storing energy so that it can be reused later on.
Unlike its predecessors, lithium batteries are rechargeable and are smaller. In addition, these batteries are more durable, lighter, and more powerful than its predecessors are. However, an article published on the Nature warned people about the scarce reserves of raw materials such as nickel and cobalt, which are utilized in the making of lithium ion batteries. Furthermore, lithium ion batteries are known to explode at times and get overheated on many occasions.