Lithium demand growth by end market
In May 2021 JP Morgan noted that lithium demand would increase 545% over 2020. Demand growth from Electric vehicles would be nearly 1000%.
Global EV Growth forecasts
In May 2021 JP Morgan estimated that EV penetration into total vehicle sales would increase from 3% in 2020 to 27% in 2030, while ICE sales would surrender over 50% its market share.
Global LIB demand forecast: exponential growth
Compared to today, global battery demand is expected to grow by a factor of ~19 to reach ~3,600 GWh in a 2030 target case.
