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%.
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.
2021 to 2028
Rising consumer awareness, in addition to government incentives, is supporting the exponential rise in EV sales.
Source: BloombergNEF. https://www.visualcapitalist.com/sp/visualizing-the-global-demand-for-lithium/
EV Manufacturers Sold*:
cars in 2016
cars in 2016
* Figures have been rounded
Global gigafactory pipeline passes the 300 mark.
Mid Stream
Cathode and Anodes
China is home to 148 of the 200 battery megafactories in the pipeline for 2030.
Downstream Lithium-ion
Battery Cells
Australia, Chile, and China collectively account for 88% of global lithium production.
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.
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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