NetworkNewsWire Editorial Coverage: A January report from Zion Market Research projects the global lithium-ion battery market, worth around $31 billion in 2016 and dominated by Asia-Pacific producers such as China, is on track to grow at a CAGR of 13.7 percent through 2022, ballooning to over $67.6 billion (http://nnw.fm/9gEz3). Australia, Chile, Argentina and China are responsible for the lion’s share of global lithium production (around 93 percent) — about half of which is currently consumed by battery production. Prices per ton for the two main types of lithium (hydroxide and carbonate) have jumped from around $6,500 in 2015 to recent highs of more than $20,000. UBS Securities also recently projected that lithium demand will continue to stay high through 2024 (http://nnw.fm/GCfv9), citing primary drivers such as the burgeoning EV (electric vehicle) market, which is projected to grow at a whopping 28.3 percent through 2026 (http://nnw.fm/T80kH). All of this is extremely bullish news for lithium producers, whether we are talking relatively small up-and-comers such as British Columbia-based QMC Quantum Minerals Corp. (TSX.V: QMC) (FSE: 3LQ) (OTC: QMCQF) (QMC profile) and Nemaska Lithium, Inc. (TSX: NMX) (OTC: NMKEF), or sector heavyweights such as Chile’s Sociedad Química y Minera de Chile S.A. (NYSE: SQM), Albemarle Corporation (NYSE: ALB) and FMC Corporation (NYSE: FMC).
Cleaner Cars Require Much More Lithium
Bloomberg New Energy Finance analysis of the EV market shows production will increase more than thirtyfold by 2030 and relays Deutsche Bank estimates that there are enough lithium reserves in the ground to last us another…
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