The Lithium Demand Economy

Batteries, something thought of as a shorter-term and temporary source of energy, are actually growing in popularity. While the everyday AA battery may still be limited in use, the same can not be said for the modern lithium battery. Lithium batteries are not only serving as effective energy storage, but power electric vehicles, scientific processes, and phones alike.

This has created a demand for lithium that has been skyrocketing in recent years. As early as 2021 the demand for lithium reached 500,000 metric tons. While this is a significant amount, it is dwarfed by the demand of four million tons expected in 2030. The main driving force behind this- electric cars. Electric cars take eight kilograms of lithium each to power their batteries. This may not sound like a lot, but think about the potential billions of cars in production. The future of cars is largely thought to be electric, and this doesn’t happen without lithium.

And that’s why batteries have so significantly changed the demand for lithium. This can be a scary prospect when one remembers that lithium is limited, but it’s not all bad. Not only is there a ton of lithium left on the planet, but lithium is largely able to be retrieved. This means when one makes a battery or uses lithium for industrial use, it won’t all disappear. Lithium will only grow in importance over the next few years. What’s left to be seen is battery alternatives or efficient uses of lithium can be discovered.

Lithium In The Energy Economy