Lithium, sometimes referred to as “white gold” is a soft, highly reactive, metal and is an extremely popular element for a wide array of uses. Ranging from medications, to uses in industrial settings, to even nuclear fusion, lithium finds use in every aspect of society. The most important use of lithium, however, is its integral role in lithium-ion batteries. The rising popularity of electric vehicles and consumer electronics has skyrocketed the demand for lithium.
In 2015, batteries only accounted for 30% of the global lithium demand, while the rest went towards ceramics and industrial applications. But by 2030, batteries are projected to take up as much as 95% of total lithium demand. The global push to cut down on carbon emissions has made electric vehicles in an even higher demand than ever before.
The demand for lithium is expected to increase by 22 times by the year 2030. But the US holds just 3.6% of lithium reserves globally, meaning reliance on the international mining industry is greater than ever. Chile and Australia together hold over a whopping 65% of all lithium, creating the largest supply and demand imbalance in recent times.
Learn more about how lithium is powering the present and the future here.