Lithium is a soft, white metal that is part of the alkali metal family. It is used in a variety of products including greases, lubricants, ceramics, glass, batteries, and more. As battery technology has become increasingly important, the demand for lithium has skyrocketed.
Lithium is not an unlimited resource, but there are currently no known substitute materials that can take its place in batteries. This means that the supply of lithium is a major concern for businesses and countries that rely on this metal. In this blog post, we’ll explore the current state of the lithium supply and what the future may hold.
Where does lithium come from?
Lithium is found all over the world, but most of the world’s supply comes from just a few countries. Chile and Argentina have the largest reserves of lithium, with Australia coming in a close third. Bolivia also has large reserves but has not yet developed them due to political instability.
What's happening with demand?
As electric vehicles (EVs) become more popular and affordable, demand for lithium-ion batteries is expected to increase exponentially. Some estimates predict that global demand for lithium will triple by 2025. The majority of this increase will be driven by China, which is investing heavily in EVs as part of its goal to reduce air pollution.
How will we meet future demand?
Although there are concerns about the future supply of lithium, most experts believe that there will be enough to meet future demand. This is because new mines are being developed and existing mines are increasing production. For example, Australia’s Greenbushes mine—which supplies 25% of the world’s lithium—is doubling its production capacity.
The demand for lithium is increasing rapidly as battery technology becomes more important. Although there are concerns about the future supply of lithium, most experts believe that there will be enough to meet future demand thanks to new mines and increased production at existing mines. Businesses and countries that rely on lithium should closely monitor the situation to ensure they have adequate supplies.
