Lithium Production Will Triple In Next 4 Years
Global lithium production is expected to triple in four years
According to GlobalData’s forecast, lithium production enters a path of high growth after a period of moderate growth (2010-2017). It’s expected that within four years (by 2022) the production (or rather extraction) of lithium metal will triple to some 154,000 tons annually.
Currently, the market is below 64,000 tons, but already 86kt (kiloton) of new metal capacity comes on stream.
The total knew lithium resources have increased substantially worldwide in the past years to more than 53 million tons.
Highest production of lithium by country:
- Australia – 18.3 kt
- Chile – 14.1kt
- Argentina – 5.5kt
Largest global producers:
- SQM—market leader with a 25% share of global production
- Talison – 24% share
- Albemarle – 17% share
- FMC – 9% share
Expected share of additional capacity over the next four years by country:
- Australia – 37%
- Argentina – 29%
- Canada – 16%
- Chile – 9%
- US – 6%
- Mexico – 4%
Lead image credit: Here is where the lithium comes from (Source: SQM)
Source: Green Car Congress