Article

The Asia-Pacific region is set to see significant growth in energy storage systems (ESS) by 2026, driven by government initiatives, particularly in China, which currently dominates the market with 88% of the region's capacity. As countries like South Korea, Australia, Vietnam, and Malaysia ramp up their ESS targets, this shift is expected to impact the lithium market, with increased demand for lithium-iron-phosphate batteries amid changing production priorities among battery manufacturers.