10 October, 2019
RALEIGH, North Carolina, October 10, 2019 -The current global lithium supply is estimated to be 312,000 MT resulting in a deficit market which is expected to improve with capacity additions in the near future, according to Beroe Inc, a procurement intelligence firm. Lithium carbonate accounts for 45 percent of the overall lithium demand, and is expected to grow at a CAGR of 8 percent until 2020.
Chile has the largest lithium reserve at a global level, estimated to be 7,500,000 MT, out of which the annual production is 12,000 MT. After Chile, China has a reserve of 3,200,000 in the form of brine/hard rock, with an annual production of 2,000 MT. Australia has the highest production of lithium, of around 14,300 MT with reserves amounting to 1,600,000 MT.
https://www.beroeinc.com/category-intelligence/lithium-market/
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
The single largest end-user segment for lithium is batteries, accounting for 36 percent of the total demand with the demand expected to grow further at a CAGR of 10-15 percent till 2020. Glass/ceramics account for 26 percent of the demand for lithium, followed by greases and lubricants accounting for 10 percent of the total demand.
In the long term, growing demand from lithium battery compounds is expected to increase the prices of lithium metal in the global market. Supply tightness is expected to prevail, as most of the major battery expansions are due to come into production by 2020, further worsened by anticipated stockpiling/inventory holdings by suppliers to meet the demand from the electro-mobility market.
The research methodology adopted for the report included:
The single largest global lithium source is brine, accounting for 66 percent of the total supply, followed by hard rock ores/pegmatite for 26 percent and sedimentary rock deposits for 8 percent. The higher production cost associated with the production of lithium concentrate from hard rocks has contributed to the rising prices of lithium compounds in the Chinese market and globally.
The report also includes:
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
To learn more about Beroe Inc., please visit: http://www.beroeinc.com
Media Contact:
Debobrata Hembram
debobrata.hembram@beroe-inc.com