The global lithium market continues to be one of the more active industries across the board as increasing attention in lithium and cobalt explode behind rising demand and impressive mining operations and results. Venture capitalists have turned their focus towards the lithium industry of late and have been placing enormous bets the demand will continue for lithium-ion (Li-ion) batteries. These high-tech batteries are capable of powering everything from smart phones and power tools to electric vehicles. Demand for lithium is certain to surge as vehicles become greener, new devices flourish and electricity becomes cleaner. Unabated demand and material shortages have driven up prices and sparked a global quest for mining of lithium. According to a study completed by Variant Market Research, the global lithium market is projected to reach $56 billion within six years, illustrating a CAGR of more than 10%. INN Daily reported the global lithium demand is projected to triple by 2025 as electronic vehicles become more prevalent and mainstream. Long story short, lithium is poised to remain an ultra-high-demand resource for decades to come.
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