Lead: things to look for in 2024

Lead's future is threatened. Full vehicle electrification removes the need for SLI batteries. Battery electric vehicles (BEVs) still require a smaller auxiliary battery that are very often still Pb-acid, but these can be substituted for Li-ion.

Record Li prices a year ago were bullish for Pb in the short term because it implied that Pb-acid would have to meet the demand that Li-ion couldn't. Li prices are much lower today. And while this will impair Li supply further out, it implies that there is now a smaller shortfall for Pb-acid to fill.

Against this backdrop, what are the key themes that will shape the lead market in 2024? In this report, we've drawn on insight from the Lead Research Suite to put together our view of the year ahead. This includes: 

• Pb use in internal combustion engine vehicles (ICEVs) experiencing its penultimate year of growth?
• BEV uptake of 48V auxiliary battery technology: could this  accelerate the shift from Pb-acid? 
• Updated government ambitions as elections grapple with the expensive realities of subsidising EVs
• And more. 

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