Did you know that lithium ion batteries power nearly everything in our daily lives? From the phones that we keep in our pockets to the electric cars that are driving on the road, lithium powers it all. That is why lithium is the most sought after mineral on the market right now.
The call for cutting down carbon emissions is growing louder, meaning there is a higher demand for electric cars now than ever before. Electric cars run on lithium ion batteries, which is what has added to the growing demand for lithium in the past few years. In fact, it is expected that the demand for the mineral will increase to 3-4 million tons by 2030.
With technology constantly evolving, the need for lithium ion batteries is increasing across all industries, not just with electric cars. With so many versatile uses, the demand for lithium is only increasing. To learn more about the lithium economy and what this means for the market, take a look at the infographic below: