Share this article Share this article ResearchAndMarkets.com's offering. The global lithium-ion battery market reached a value of US$ 34.1 Billion in 2020. Looking forward, the global lithium-ion battery market to exhibit strong growth during the next five years. A lithium-ion battery (LIB) is a rechargeable battery that utilizes an intercalated lithium compound as its electrode. Consisting of the anode, cathode and electrolyte, it is an electrochemical storage device that does not require complete discharge prior to recharging. It is characterized by higher energy density, minimal maintenance and lower self-discharge rates when compared with its counterparts, such as nickel-cadmium batteries. It also offers a good energy-to-weight ratio and high open-circuit voltage.