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Ranked: The Fastest-Growing Battery Materials Since 2020
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Key Takeaways
- Lithium production quadrupled between 2020 and 2025, far outpacing other battery materials in growth.
- The rapid rise of LFP batteries has shifted demand toward phosphorus and away from nickel-based chemistries.
Battery production has expanded rapidly over the last five years, driving major increases in demand for critical minerals and refined materials.
This visualization shows how global supply of key battery materials changed between 2020 and 2025, based on data from Benchmark Intelligence. It also highlights how the rise of lithium iron phosphate (LFP) batteries is reshaping which materials matter most across the EV supply chain.
Lithium Leads the Charge
Lithium has seen the most dramatic growth of any battery material. Production surged from 395 kilotonnes in 2020 to 1,500 kilotonnes in 2025, a nearly fourfold increase.
| Material | 2020 Supply (Kilotonnes) | 2025 Supply (Kilotonnes) | Growth (%) |
|---|---|---|---|
| Lithium | 395 | 1,544 | 291% |
| Cobalt | 127 | 270 | 113% |
| Manganese | 55 | 106 | 93% |
| Nickel | 2,530 | 3,641 | 44% |
| Graphite | 907 | 1,289 | 42% |
| Phosphorus | 4,093 | 5,786 | 41% |
The rapid expansion of lithium demand reflects its central role across nearly all modern battery chemistries. As electric vehicle adoption accelerates globally, lithium use continues to outpace other materials.
The Rise of LFP Batteries
A major shift in battery chemistry is reshaping material demand. Lithium iron phosphate (LFP) batteries have grown from just 19% of global market share in 2020 to 55% in 2025.
This shift has driven increased demand for phosphorus, with purified phosphoric acid production rising 41% over the same period. China’s dominance in battery manufacturing and its preference for LFP technology have been key factors behind this transition.
Nickel, Cobalt, and the Changing Mix
Nickel-based chemistries, once dominant, are losing share as LFP rises. Nickel production still grew from 2,500 to 3,600 kilotonnes, reflecting continued demand for longer-range batteries.
Meanwhile, cobalt and high-purity manganese sulphate more than doubled, supporting both legacy and evolving battery designs.
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