Global Production

Lithium mines produced an estimated global total of 100,000 metric tons in 2021, a peak in production.

This is a significant increase from 2010, when global lithium production was just 28,100 metric tons.

The demand for lithium is reaching new highs as the electric vehicle industry grows. Between 2016 and 2020, global lithium production increased by 116%.

Global Lithium Production: 2010-2020
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Market Growth

The global lithium market is projected to grow from USD 3.83 billion in 2021 to USD 6.62 billion in 2028 at a CAGR of 8.1% during the 2021-2028 period.

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Global Market
$3.64 Billion
$3.83 Billion
$6.62 Billion
CAGR 8.1%

2021 to 2028

Industry Drivers

More EVs on the Road

Rising consumer awareness, in addition to government incentives, is supporting the exponential rise in EV sales.

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EV Manufacturers Sold*:


cars in 2016


cars in 2016

* Figures have been rounded

The lithium gap can be bridged in the second half of the decade.
Global lithium supply and demand, 1 kilotons lithium carbonate equivalent.
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Global gigafactory pipeline passes the 300 mark.

The 10 year gigafactory pipeline has grown 3 times since September 2019.
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Supply Chain

China’s Dominance in the Battery Supply Chain 2019
In 2031, China is set to have almost 4,500 GWh of gigafactory capacity, representing 70% of global capacity.*
China is the third-largest producer of lithium and produces 80% of refined battery chemicals.
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Mid Stream Chemical Refining
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Mid Stream
Cathode and Anodes

China is home to 148 of the 200 battery megafactories in the pipeline for 2030.

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Downstream Lithium-ion
Battery Cells

Australia, Chile, and China collectively account for 88% of global lithium production.

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Source: Benchmark Mineral Intelligence –
* https://

Lithium Extraction & Processing Options

Direct Lithium Extraction

For geothermal or oilfield brines to succeed as a source of lithium supply, a proven process for DLE will be required. There are a number of companies testing various DLE approaches. 

Direct Shipping Ore

This low-grade spodumene concentrate can be brought to the market with a very short lead time (less than a year for a brownfield project), with resulting sales contributing toward the construction of a full-scale spodumene processing plant.

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