6
growth in the lithium industry (20% per year Figure 6).
As we will see below, the batteries of electric cars are over-
whelmingly the main demanders, a situation that arose due
to the continuous search for less polluting transport alter-
natives. Consequently, any discussion generated by lithium
demand is supported by the boom it has had worldwide in
recent years.
The consumption of lithium by chemical compounds
is now the most widely used product in the industry, with
an increase of around 71% and lithium hydroxide with a
decrease of 24%. Similarly, both hydroxides and carbonates
can be classified into industrial grades and battery grades
according to the purity of their constituents. For carbon-
ates, ndustrial grade generally requires 99.0% purity, while
ttery grade requires at least 99.5% purity. As can be seen in
Figure 7, battery quality is generally desirable.
Batteries are expected to account for 95% of white
gold demand by 2030, with only 1% of battery consump-
tion related to other lithium uses in industry, as shown in
Figure 8. Figure 9 shows the base scenario and the elec-
tric vehicle scenario. [12] stated that lithium demand will
grow by around 500,000 tonnes of lithium carbonate
Figure 5. Economic growth of lithium in the last 10 years [5]
Table 3. Annual lithium production
Years/Countries China (ton)
Australia
(ton)
Chile
(ton)
Argentina
(ton)
2018 7,100 58,800 17,000 6,400
2019 10,800 45,000 19,300 6,300
2020 14,000 40,000 18,000 6,200
2021 14,000 55,300 28,300 5,970
2022 19,000 61,000 39,000 6,200
[6]
Figure 6. Lithium production by source, estimated supply
for 2025 to 2030 [12]
growth in the lithium industry (20% per year Figure 6).
As we will see below, the batteries of electric cars are over-
whelmingly the main demanders, a situation that arose due
to the continuous search for less polluting transport alter-
natives. Consequently, any discussion generated by lithium
demand is supported by the boom it has had worldwide in
recent years.
The consumption of lithium by chemical compounds
is now the most widely used product in the industry, with
an increase of around 71% and lithium hydroxide with a
decrease of 24%. Similarly, both hydroxides and carbonates
can be classified into industrial grades and battery grades
according to the purity of their constituents. For carbon-
ates, ndustrial grade generally requires 99.0% purity, while
ttery grade requires at least 99.5% purity. As can be seen in
Figure 7, battery quality is generally desirable.
Batteries are expected to account for 95% of white
gold demand by 2030, with only 1% of battery consump-
tion related to other lithium uses in industry, as shown in
Figure 8. Figure 9 shows the base scenario and the elec-
tric vehicle scenario. [12] stated that lithium demand will
grow by around 500,000 tonnes of lithium carbonate
Figure 5. Economic growth of lithium in the last 10 years [5]
Table 3. Annual lithium production
Years/Countries China (ton)
Australia
(ton)
Chile
(ton)
Argentina
(ton)
2018 7,100 58,800 17,000 6,400
2019 10,800 45,000 19,300 6,300
2020 14,000 40,000 18,000 6,200
2021 14,000 55,300 28,300 5,970
2022 19,000 61,000 39,000 6,200
[6]
Figure 6. Lithium production by source, estimated supply
for 2025 to 2030 [12]