Argonne-Supported Critical Materials Assessment Tags Potential Supply Chain Bottlenecks
March 28 2024 - 11:46AM
Business Wire
Global sales of electric vehicles (EVs) increased from 716,000
vehicles in 2015 to 10.6 million vehicles in 2022. Meanwhile,
demand rose for the materials used in EV batteries such as
graphite, cobalt and lithium.
As demand jumps for these critical materials, which are sourced
from all over the world, the risk of disruption to supply chains
also increases. One way the United States can reduce supply chain
risks is to develop a strong domestic manufacturing sector with a
diverse set of producers, according to a new report developed by
researchers at the U.S. Department of Energy’s (DOE) national
laboratories, including Argonne.
The report, titled the 2023 Critical Materials Assessment,
“draws upon mature expertise in complex supply chains and our
understanding of the underlying causes of disruptions,” said
Allison Bennett Irion, director of supply chain research at
Argonne. “It can help strengthen America’s energy security and help
decision makers focus on the right clean energy technologies.”
The report lists materials deemed critical and near-critical to
clean energy and decarbonization technologies through 2035, along
with insights about why certain materials may be less secure or
particularly scarce. Findings from the report include supply chain
risks from a global rise in use of electricity and a greater
emphasis on renewable and green technologies, such as electric
vehicles, wind turbines and LEDs.
This information can help guide research and development
efforts. It can be used to determine the eligibility of projects
for clean energy tax credits available via the Inflation Reduction
Act of 2022. Bennett Irion and Braeton Smith, an economist at
Argonne and the report’s co-author, have expertise in studying
trends in the market for rare earth minerals — neodymium,
praseodymium, dysprosium — that are used in magnets for EV motors,
wind turbines and other clean technologies.
Argonne helped produce several supply chain reports in response
to the 2021 Executive Order on America’s Supply Chains. Argonne
also helped develop a global critical materials agent-based model
which is used to forecast market dynamics by modeling decisions
that producers and consumers might make.
The 2023 Critical Materials Assessment was funded by the
Advanced Materials and Manufacturing Technologies Office within
DOE’s Office of Energy Efficiency and Renewable Energy.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240328545405/en/
Christopher J. Kramer Head of Media Relations Argonne National
Laboratory Office: 630.252.5580 Email: media@anl.gov