Commodities Buzz: Lithium demand from battery makers to almost double by 2027

The outlook for lithium continues to shine, with demand from companies that produce batteries to power electric cars, laptops and other high-tech devices, expected to increase more than thirty fold by 2027, a new study shows.

While the next nine years will drain less than 1% of the reserves in the ground, battery makers will need more lithium to support their production, which will boost demand for the key metal almost 16% to reach 1 million tonnes, according to Roskills 15th edition market outlook report.

Expected supply, however, is far from the astronomical figure forecast by the research firm, with Canadas Bank of Montreal expecting between 80,000 and 91,500 tonnes of lithium coming from mines by 2025. And BMOs numbers include recently up-sized expansion plans by the market leaders, Chiles SQM, Chinas Tianqi Lithium, Albemarle and FMC, as well as Nemaska Lithiums plans to build a spodumene mine in northwestern Quebec, Canada.