In 2017, Rechargeable Batteries Accounted For Over 43% Of Total Lithium Demand. The Increasing Use Of Li-Ion Batteries In Automotive Applications, Both For Hybrid And Fully-Electric Vehicles, Has Seen
Global demand for lithium, mainly driven by the lithium-ion battery industry, is set to grow exponentially will continue to be the main catalyst for its growth. The lithium ion battery industry, which accounted for around 50 percent of consumption in 2017, is expected to reach over 80 percent by 2027, says Roskill, a London-based consultancy agency.
The report states that growth in the consumption of lithium accelerated in 2017, by over 10 percent on 2016 levels, to reach 211,000t lithium carbonate equivalent (LCE). Automotive applications were the largest market for Li-ion batteries in 2017, with Chinese sales of plug-in electric vehicles (PEV) increasing by around 20 percent year on year. This placed a strain on the battery supply chain which is likely to continue; Roskill estimates Chinese PEV sales could reach around one million units in 2021.