Lithium is becoming more and more of an essential element to help our society run smoothly, so it’s no wonder the demand for this soft metal has started to skyrocket. Lithium sees a wide variety of uses, ranging from nuclear fusion, to metallurgy, to glass and ceramics, and even to some medications. But the most important use of lithium is its role in lithium-ion batteries which are used to power everything from phones to cars. The popularity of electric tools, mobile devices, ebikes, and especially electric cars has massively raised the demand for lithium. In 2015, only 30% of the lithium demand came from batteries, while the rest was for ceramics or for use in polymers or other industrial uses, but the projected lithium demand for 2030 puts 95% of the total demand for lithium towards battery production.
The demand for lithium is projected to increase by 22 times by 2030, but the US only contains 3.6% of global lithium reserves, creating the largest supply-demand imbalance in recent history. Chile and Australia contain over 65% of the global lithium supply, turning heads towards these regions.
Learn more about the potential of lithium and how it’s already powering our lives here.