Global production of Lithium amounted to 82 Thousand Tonnes in 2020
Production grew by a CAGR of 5.21% between 2017 to 2020,and is expected to grow by...
GlobalData projects the production to decline at a CAGR of...
Impact of COVID-19 on Global lithium production
The growing adoption of electric vehicles (EVs) is rapidly increasing demand for lithium. Despite a slowdown in the market, global battery demand raised in 2020, supported by a shift in the design and advancement of battery technology. In the same year, batteries alone accounted for majority of total lithium consumption.
Global lithium metal production is expected to rise in 2021 in comparison to 2020, after registering a significant decline that year, amid declining prices and the COVID-19 pandemic. Output from Australia and Argentina will be significant contributors to overall growth. Output from Chile is also expected to grow. Rising prices, as well as increasing battery demand for EVs, will be the driving factors for growth in lithium production in 2021.
Global lithium production
Global lithium metal production, after registering a decline in 2020 amid declining prices and the COVID-19 pandemic, is expected to recover in 2021. Production from Australia, and Argentina will be significant to the overall growth. In addition, output from Chile is also expected to grow.
According to GlobalData, there were eight operating mines that accounted for majority of the global output in 2020. Of these, four were operating in Australia and two each in Chile and Argentina. Spodumene, brines and lepidolite are among the major sources of lithium globally. However, the most economical source is brines, with extraction from other minerals having relatively higher production cost due to combined extraction and beneficiation challenges.
Global lithium producers
Albemarle Corp. which is headquartered in the US, is a global developer, manufacturer and marketer of highly engineered specialty chemicals. The company serves a range of end markets, including petroleum refining, consumer electronics, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services. Albemarle operates in Americas, Europe, the Middle East, Africa, Australia and Asia.
Sociedad Quimica y Minera de Chile SA
SQM is a non-metallic mining company headquartered in Santiago, Chile. It carries out the extraction of minerals, processing and commercialization of products for essential industries. The company mines and processes caliche ore and brine deposits in northern Chile. Its product portfolio includes potassium nitrate, specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals, including industrial nitrates and solar salts. SQM sells products through a network of offices and distribution affiliates across the world. The company has operations in North America, Asia, Europe, and Central and South America.
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