Lithium Demand for Electric Vehicles Could Grow 599% by 2025
The unique physical and chemical properties of lithium make it useful in a diverse range of applications. It's resistant to high and low temperatures, which makes it a common component in industrial greases and lubricants. Lithium is lightweight, which makes it valuable in high-strength metal alloys, such as those used in fuel tanks for SpaceX rockets. And of course, lithium has a high electrochemical potential and small ionic radius, which makes it uniquely suited for shuttling charges from one electrode to the other inside of a battery.
While the global markets for lithium-ion batteries and energy are still in their infancy, many analysts expect a surge in demand this decade. There's some disagreement on the details, but almost everyone agrees impressive growth is in store.
Albemarle (NYSE: ALB), the world's largest lithium producer, expects the largest end market for lithium metals to be electric vehicles (EV). And it won't even be close. In fact, the company projects the EV market alone will see a 599% increase in lithium demand from 2019 to 2025. Here's what that means for investors.
Source Fool.com
