Global Trade Watch: Global Market Analysis of Lithium ion Battery Industry

Overview of Global Lithium ion Battery Imports

1、Global trend in import value of lithium-ion batteries

In 2023, the global import value of lithium-ion batteries reached 119.22 billion US dollars, an increase of 31.4% compared to the same period last year, 

and has achieved positive growth for 11 consecutive years. In the long run,

 the average annual growth rate of global lithium-ion battery imports from 2012 to 2023 is 25.0%, showing an overall upward trend.

Figure 1 Annual trend of global lithium-ion battery imports from 2012 to December 2023 (in billions of US dollars)

2、Top 10 countries/regions in terms of global import value of lithium-ion batteries

In 2023, the top ten countries or regions for global lithium-ion battery imports are Germany,

 the United States, South Korea, the Czech Republic, the Netherlands, Belgium, Mexico, Italy, Vietnam, and the United Kingdom. 

Among them, Germany had the highest import value, with a total amount of 23.17 billion US dollars, a year-on-year increase of 60.8%, and a share of 19.4%.

Table 1 Top Ten Countries or Regions in Global Import Amount in 2023

Figure 2: The structure of the top ten countries or regions in terms of global lithium-ion battery imports in 2023

3、Analysis of Global Lithium ion Battery Trade Network

Based on the global trade big data calculation from 2020 to December 2023, the visualization of the global lithium-ion battery trade network is as follows:

Figure 3: Analysis of the Global Trade Network of Lithium ion Batteries from 2020 to December 2023 (Arrows represent trade flow, line thickness represents bilateral trade scale)

Global key regional markets for lithium-ion batteries requirement analysis

1、Import situation of lithium-ion batteries in important economic regions

1） Import of lithium-ion batteries along the "the Belt and Road"

In 2023, the import amount of lithium-ion batteries of the "the Belt and Road" will reach 22.98 billion US dollars, up 10.5% over the same period of the previous year, 

which has achieved positive growth for 11 consecutive years. In the long run, from 2012 to 2023,

 the import of lithium-ion batteries along the "the Belt and Road" increased by 35.3% annually, showing an overall upward trend.

Figure 4 Annual trend of import amount of lithium-ion batteries along the "the Belt and Road" from 2012 to December 2023 (US $100 million)

In 2023, the top ten countries or regions of the "the Belt and Road" lithium ion battery import amount are the Czech Republic,

 Vietnam, India, Poland, Hungary, Slovakia, Türkiye, Thailand, Indonesia, Israel, etc. 

Among them, the Czech Republic had the highest import value, with a total amount of 5.18 billion US dollars, a year-on-year increase of 40.9%, and a share of 22.6%.

Table 2 Top 10 Countries or Regions of the "the Belt and Road" Import Amount in 2023

Figure 5 Structure of the Top 10 Countries or Regions in the Amount of Lithium Ion Battery Imports along the "the Belt and Road" in 2023

According to the statistics of the unit with the first corresponding amount (the same below), in 2023,

 the import price of lithium-ion batteries along the "the Belt and Road" will be 8.1 dollars/piece, down 8.5% from the same period of the previous year, 

failing to continue the growth trend of the previous year.

 In the long run, the import price of lithium-ion batteries in the "the Belt and Road" from 2012 to 2023 increased by 7.2% annually, 

showing a trend of rising first and then falling, with the peak appearing in 2022.

 According to the quantity statistics, in 2023, the import quantity of lithium-ion batteries of the "the Belt and Road" will be 2.50 billion, 

an increase of 53.1% over the same period of the previous year, 

which has achieved positive growth for three consecutive years.

 In the long run, from 2012 to 2023, the import of lithium-ion batteries along the "the Belt and Road" increased by 31.3% annually, showing an overall upward trend.

Figure 6 Annual trend of import price and quantity of lithium-ion batteries along the "the Belt and Road" from 2012 to December 2023 (US $100 million)

2. Import situation of RCEP lithium-ion batteries

In 2023, the import value of RCEP lithium-ion batteries reached 20.68 billion US dollars, an increase of 16.2% compared to the same period last year, a

nd has achieved positive growth for 8 consecutive years. 

In the long run, the average annual growth rate of RCEP lithium-ion battery imports from 2012 to 2023 is 13.0%, showing an overall upward trend.

Figure 7 Annual trend of RCEP lithium-ion battery imports from 2012 to December 2023 (in billions of US dollars)

In 2023, the top ten countries or regions for RCEP lithium-ion battery imports are South Korea, Vietnam, Japan, China, Australia, Thailand, Indonesia, Singapore, Malaysia, and the Philippines. 

Among them, South Korea had the highest import value, with a total amount of 8.47 billion US dollars, a year-on-year increase of 48.7%, and a share of 40.9%.

Table 3 Top Ten Countries or Regions with RCEP Import Amount in 2023

picture

Figure 8: Structure of the Top Ten Countries or Regions with RCEP Lithium ion Battery Import Amount in 2023

According to the unit with the highest corresponding amount, in 2023,

 the import price of RCEP lithium-ion batteries was 6.4 US dollars per unit, an increase of 22.2% compared to the same period last year,

 and has achieved positive growth for seven consecutive years.

 In the long run, the average annual growth rate of RCEP lithium-ion battery import prices from 2012 to 2023 is 10.1%, showing an overall upward trend. 

According to quantity statistics, in 2023, the import volume of RCEP lithium-ion batteries reached 1.81 billion units, an increase of 29.8% compared to the same period last year, 

reversing the downward trend of the previous year. 

In the long run, the average annual decrease in RCEP lithium-ion battery imports from 2012 to 2023 is 1.5%, 

showing a trend of first decreasing and then increasing, with the trough appearing in 2022.

Figure 9 Annual trend of RCEP lithium-ion battery import prices and quantities from 2012 to December 2023 (in billions of US dollars)