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A new study shows that with demand from businesses that produce batteries for electric vehicles, laptops and other high-tech devices growing, while overall demand for lithium is forecast to more than triple growth, the outlook for the lithium market remains buoyant, with projected growth of 650 percent
by 2027.
Battery manufacturers surge in demand Lithium market expected to grow by 650% by 2027
According to Roskill's 15th edition of the market outlook report, while lithium reserves will be less than 1% underground in the next 9 years, battery manufacturers will need more lithium to support production, which will drive lithium demand growth of nearly 16% to 1 million tons
.
However, the projected supply is far
from the astronomical figures predicted by the company.
The Bank of Montreal (BMO) expects 8-91,500 tonnes of lithium to come from mines by 2025
.
BMO's data includes recent scale-up plans by market leaders covering Chile's SQM, China's Tianqi Lithium, Albemarle USA, FMC, and Nemaska Lithium's plans to build a spodumene mine
in northwest Quebec, Canada.
Roskill estimates that demand from lithium-ion battery manufacturers will increase from 46 percent last year to 83 percent
by 2027.
In turn, the use of lithium hydroxide is also expected to become more common, with the proportion of lithium compounds used in rechargeable batteries increasing from 25% to 55%
by 2027.
Analysts expect the battery-grade lithium compound market to remain tight
as installing new battery-grade capacity has proven to be complex and forecasting the largest growth in demand for these products.
In terms of lithium prices, peak is expected in 2018 as more supply of mined and refined lithium enters the market in the coming years, causing prices to briefly retreat in 2019 with a floor price of $11,000/mt battery-grade lithium carbonate
.
After 2021, lithium prices will rise again to 2018 levels, as continued growth in demand for battery-grade lithium compounds will put more demand pressure
on prices.
，
A new study shows that with demand from businesses that produce batteries for electric vehicles, laptops and other high-tech devices growing, while overall demand for lithium is forecast to more than triple growth, the outlook for the lithium market remains buoyant, with projected growth of 650 percent
by 2027.
Battery manufacturers surge in demand Lithium market expected to grow by 650% by 2027
Battery manufacturers surge in demand Lithium market expected to grow by 650% by 2027According to Roskill's 15th edition of the market outlook report, while lithium reserves will be less than 1% underground in the next 9 years, battery manufacturers will need more lithium to support production, which will drive lithium demand growth of nearly 16% to 1 million tons
.
However, the projected supply is far
from the astronomical figures predicted by the company.
The Bank of Montreal (BMO) expects 8-91,500 tonnes of lithium to come from mines by 2025
.
BMO's data includes recent scale-up plans by market leaders covering Chile's SQM, China's Tianqi Lithium, Albemarle USA, FMC, and Nemaska Lithium's plans to build a spodumene mine
in northwest Quebec, Canada.
Roskill estimates that demand from lithium-ion battery manufacturers will increase from 46 percent last year to 83 percent
by 2027.
In turn, the use of lithium hydroxide is also expected to become more common, with the proportion of lithium compounds used in rechargeable batteries increasing from 25% to 55%
by 2027.
Analysts expect the battery-grade lithium compound market to remain tight
as installing new battery-grade capacity has proven to be complex and forecasting the largest growth in demand for these products.
In terms of lithium prices, peak is expected in 2018 as more supply of mined and refined lithium enters the market in the coming years, causing prices to briefly retreat in 2019 with a floor price of $11,000/mt battery-grade lithium carbonate
.
After 2021, lithium prices will rise again to 2018 levels, as continued growth in demand for battery-grade lithium compounds will put more demand pressure
on prices.
，
