Benchmark begins tracking the global anode market via satellite analysis

Benchmark is pleased to announce it has started utilising satellite imagery to track and validate the advancement of anode material facility construction worldwide as part of the Benchmark Verified service.

This adds to the existing Benchmark Verified service already incorporated in the Benchmark Gigafactory Market Assessment and the Benchmark Cathode Price Assessment.

“Integrating satellite imagery into the anode market assessment will provide valuable, real-time insights into production activity and global supply chain trends, unlocking a whole new level of precision and strategic foresight,” said George Ingall, anode analyst at Benchmark.

With Chinese producers continuing to expand their capacity and new players preparing to meet growing demand in western markets for locally sourced anode material, Benchmark’s satellite imagery will give subscribers granular, evidenced-based insight into the status of developments at specific facilities worldwide.

Benchmark’s analysis reveals the global capacity of anode material will increase over fivefold between 2024 and the end of the decade, reaching over 15,000,000 tonnes per year. At present, Benchmark Verified has confirmed 2,277,150 tonnes per year of operational capacity in 2024.

However, the battery industry is facing increased risk due to a downturn in crucial mineral prices. In light of this, Benchmark expects the anode market to undergo a period of consolidation throughout this year and the following, with geospatial analysis giving Benchmark the means to track how industry participants are coping with the downturn.

Benchmark intends to keep a close eye on every location to verify any activity, especially since certain markets may experience overcapacity, which could force businesses to cease development, expansion, or production or, if challenges continue, to abandon projects entirely.

Benchmark Verified

Benchmark’s new remote sensing service will be included within its Anode Assessment.

This service will provide accurate and transparent insight into anode projects, backed by satellite imagery.

Benchmark has combined its detailed knowledge of these existing and planned facilities globally with advanced capabilities in the analysis of satellite imagery using geographic information systems (GIS).

Initially this service will verify the status of active anode facilities and monitor the progress of individual projects construction and production timelines. Through the development of proprietary site evaluation methodologies from satellite imagery, Benchmark will assign each individual anode production site into one of two initial categories:

Benchmark uses a number of indicators to gauge activity levels at each site or the stage of construction each facility is undergoing.

These indicators include but are not limited to:

Where anode production sites have been verified this will be indicated in research via two main categories:

Where possible Benchmark uses its extensive field visits to further verify its findings from satellite imagery.

As part of our data collection process Benchmark also conducts regular reviews of our sources and the data received to analyse the information published against external metrics and verify accuracy.

Benchmark provides expert market coverage of the midstream anode sector:

Benchmark provides expert market coverage of the midstream anode sector:

Benchmark’s Anode Price Assessment publishes anode prices on a monthly basis as well as a capacity assessment of every anode facility globally out to 2035.

Our Anode Forecast examines supply and demand of Anode Active Material (AAM) by region and producer out to 2040, along with a dynamic cost model.Get in touch with our team to learn more.