{"id":81271,"date":"2023-03-17T04:53:55","date_gmt":"2023-03-17T04:53:55","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81271"},"modified":"2023-06-27T06:50:19","modified_gmt":"2023-06-27T06:50:19","slug":"the-lithium-boom-25-years-of-white-gold","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/the-lithium-boom-25-years-of-white-gold\/","title":{"rendered":"The Lithium Boom: 25 years of \u201cWhite Gold\u201d"},"content":{"rendered":"

Rising demand for lithium has seen the metal\u2019s production quadruple over the last ten years. <\/span>As a key material in lithium-ion batteries, the global demand for lightweight lithium has grown alongside the push towards net zero emissions.\u00a0<\/span><\/p>\n

The emergence of Electric Vehicles (EVs) is the primary driver of the future-focused mineral\u2019s new heights.\u00a0 <\/span><\/p>\n

For many years, until 2010, the uses for lithium were wide and varied. <\/span>The ceramics and glassmaking industries accounted for around one-third of lithium consumed for a long time.<\/span><\/p>\n

Fast forward to 2021, and that demand has shrunk to just 14%, a distant second behind batteries which consume a massive <\/span>74%<\/b> of all lithium produced worldwide today.<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n
End-use<\/b><\/td>\nLithium Consumption 2010 (%)<\/b><\/td>\nLithium Consumption 2021 (%)<\/b><\/td>\n<\/tr>\n
Batteries<\/span><\/td>\n 23%<\/span><\/td>\n74%<\/span><\/td>\n<\/tr>\n
Ceramics and glass<\/span><\/td>\n 31%<\/span><\/td>\n14%<\/span><\/td>\n<\/tr>\n
Lubricating greases<\/span><\/td>\n 10%<\/span><\/td>\n 3%<\/span><\/td>\n<\/tr>\n
Air treatment<\/span><\/td>\n 5%<\/span><\/td>\n1%<\/span><\/td>\n<\/tr>\n
Continuous casting<\/span><\/td>\n\u00a0 <\/span>4%<\/span><\/td>\n\u00a0 2%<\/span><\/td>\n<\/tr>\n
Other<\/span><\/td>\n27%<\/span><\/td>\n 6%<\/span><\/td>\n<\/tr>\n
Total<\/span><\/td>\n100%<\/span><\/td>\n100%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Considering how much that production has and is projected to increase, we can expect battery technology alone to require 1.5 million tonnes of lithium by 2025 and double again to 3 million tonnes by 2030.\u00a0 <\/span>That\u2019s a vast amount of \u201cWhite Gold\u201d yet to come out of the ground.<\/span><\/p>\n

Who Digs up Our Lithium?<\/strong><\/h2>\n

Sources of lithium have been in flux over the years.<\/span><\/p>\n

Rewinding to the 1990s, the US was the world\u2019s largest lithium producer, accounting for one-third of all production.<\/span><\/p>\n

But some things never stay the same.<\/span><\/p>\n

Chile took the mantle of the number-1 lithium powerhouse after the US and until 2010, relying on its massive Salar de Atacama lithium brine deposits \u2013 some of the world’s richest.\u00a0<\/span><\/p>\n

However, Australia has risen to the top of the lithium podium since then.\u00a0<\/span><\/p>\n

Compared to Chile’s brine deposits, Australia unearths a wealth of Li from hard-rock mines and the mineral spodumene contained inside.\u00a0<\/span><\/p>\n

Australia alone now produces <\/span>52%<\/b> of the world\u2019s lithium.\u00a0<\/span><\/p>\n

China is the world\u2019s third-largest producer, acquiring several assets worldwide over the last decade on a $5.6B spending spree.\u00a0<\/span><\/p>\n

The communist nation is also home to 60% of the world\u2019s lithium battery refining capacity.<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Rank<\/b><\/td>\nCountry<\/b><\/td>\n2021 Production (tonnes)<\/b><\/td>\n% of Total<\/b><\/td>\n<\/tr>\n
#1<\/span><\/td>\nAustralia \ud83c\udde6\ud83c\uddfa<\/span><\/td>\n55,416<\/span><\/td>\n52%<\/span><\/td>\n<\/tr>\n
#2<\/span><\/td>\nChile \ud83c\udde8\ud83c\uddf1<\/span><\/td>\n26,000<\/span><\/td>\n25%<\/span><\/td>\n<\/tr>\n
#3<\/span><\/td>\nChina \ud83c\udde8\ud83c\uddf3<\/span><\/td>\n14,000<\/span><\/td>\n13%<\/span><\/td>\n<\/tr>\n
#4<\/span><\/td>\nArgentina \ud83c\udde6\ud83c\uddf7<\/span><\/td>\n5,967<\/span><\/td>\n6%<\/span><\/td>\n<\/tr>\n
#5<\/span><\/td>\nBrazil \ud83c\udde7\ud83c\uddf7<\/span><\/td>\n1,500<\/span><\/td>\n1%<\/span><\/td>\n<\/tr>\n
#6<\/span><\/td>\nZimbabwe \ud83c\uddff\ud83c\uddfc<\/span><\/td>\n1,200<\/span><\/td>\n1%<\/span><\/td>\n<\/tr>\n
#7<\/span><\/td>\nPortugal \ud83c\uddf5\ud83c\uddf9<\/span><\/td>\n900<\/span><\/td>\n1%<\/span><\/td>\n<\/tr>\n
#8<\/span><\/td>\nUnited States \ud83c\uddfa\ud83c\uddf8<\/span><\/td>\n900<\/span><\/td>\n1%<\/span><\/td>\n<\/tr>\n
<\/td>\nRest of World \ud83c\udf0d<\/span><\/td>\n102<\/span><\/td>\n0.1%<\/span><\/td>\n<\/tr>\n
<\/td>\nTotal<\/span><\/td>\n105,984<\/span><\/td>\n100%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Future of Lithium Production<\/strong><\/h2>\n

To put all this in perspective, the world produced just 540,000 tonnes of Lithium Carbonate in 2021.\u00a0<\/span><\/p>\n

Yet based on the above demand projections, production will need to triple by 2025 and increase again nearly six times by 2030!<\/span><\/p>\n

And while supply has been on a steep growth line, it can take six to over 15 years for new lithium projects to come online.\u00a0<\/span><\/p>\n

Because of this, the lithium market is projected to be in drought over the next few years.<\/span><\/p>\n

Summary<\/strong><\/h2>\n

The world\u2019s demand for lightweight lithium has gone from strength to strength over the last 25 years.<\/span><\/p>\n

Initially relied on for ceramics, glass and lubrication applications, the rise of lithium-ion batteries has seen demand quadruple over the last decade, with projections of a 3 million tonne requirement by 2030.<\/span><\/p>\n

Much of this rests with electric vehicle (EV) manufacturers and their supply chains.\u00a0<\/span><\/p>\n

After changing hands many times, Australia is now the dominant performer in global lithium production, accounting for over half the world\u2019s supply alone.<\/span><\/p>\n

Gone are the days of varied use, however, with battery technology requiring 74% of the world\u2019s stock to keep up with its rapid advance.<\/span><\/p>\n

Dust suppression is an enduring issue in the world of mining and energy.<\/b><\/p>\n

Learn more about GRT\u2019s industry-leading and IoT-connected <\/b>SMART Dosing Units<\/b><\/a>, and discover how we\u2019re driving better dust suppression solutions for all!<\/b><\/p>\n

Your feedback is important to us. If you enjoyed reading this Global Road Technology industry update and found it informative, please let us know by leaving a\u00a0REVIEW<\/a>.<\/p>\n

 <\/p>\n

References:<\/strong><\/p>\n

https:\/\/elements.visualcapitalist.com\/25-years-of-lithium-production-by-country\/<\/span><\/p>\n

https:\/\/www.bp.com\/content\/dam\/bp\/business-sites\/en\/global\/corporate\/pdfs\/energy-economics\/statistical-review\/bp-stats-review-2022-full-report.pdf<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Rising demand for lithium has seen the metal\u2019s production quadruple over the last ten years. As a key material in […]<\/p>\n","protected":false},"author":5,"featured_media":81272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-81271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-articles"],"yoast_head":"\nThe Lithium Boom: 25 years of \u201cWhite Gold\u201d | GRT<\/title>\n<meta name=\"description\" content=\"Rising demand for lithium has seen the metal\u2019s production quadruple over the last ten years. 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