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Why Demand is Accelerating

Market Drivers

Lithium, a lightweight metal essential for modern technologies, has become a cornerstone in the global transition toward a more sustainable future. Its demand is growing rapidly, driven by the rise of electric vehicles (EVs), renewable energy storage solutions, and technological advancements in the battery industry. These are the key factors accelerating the growth of the lithium market and how these drivers are shaping the global energy landscape. As economies move toward decarbonization, lithium’s role as a strategic resource is solidifying, ushering in an era of innovation and transformation across the transportation, energy, and technology sectors.

Market

Electric Vehicle (EV) Revolution

The global EV market is experiencing unprecedented growth as governments and consumers prioritize sustainability. By 2035, EVs are expected to comprise 50% of new vehicle sales globally, fueled by government incentives, stricter emissions standards, and consumer demand for green technology.

Fact: The average EV battery contains 8-10 kilograms of lithium, and this demand will continue to rise with larger battery capacities.

Energy Storage Solutions

Renewable energy systems, such as solar and wind, rely on lithium-ion batteries to store power and stabilize the grid. As the world transitions to clean energy, the need for scalable, efficient storage solutions is becoming more critical than ever.

Fact: Lithium-ion batteries currently dominate the energy storage market, with over 2,000 GWh of battery capacity in development globally.

Technological Innovation

Advancements in battery chemistry, such as solid-state batteries, are increasing the efficiency and energy density of lithium-ion batteries, further driving demand for high-purity lithium like that found in Salar de Atacama.

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