3 LITHIUM
INSIGHTSFOR TODAY'SINVESTORS
Lithium consumption surged by 30% in 2022,
accompanied by a boost in production.¹¹Source: International Energy Agency (IEA), Critical Minerals
Market Review, July 2023, page 52

Here are three things to know about the lithium market's future.

1

HOW MUCH LITHIUM DOES
THE WORLD NEED BY 2050?

Demand for lithium is projected to rise tenfold under
the NZE (net zero emissions by 2050) scenario.

Projected demand forlithium in the NZE scenario²Electricvehicles (EV)

2022

2050P

P = Projectionskt = Kiloton

69 kt

1104 kt

4 kt
Grid batterystorage

75 kt
Note: “Other uses” refer to specialty applications,
including lubricants, medication, ceramics, glass,and battery applications not related to clean energy.
²Source: IEA, Critical Minerals Data Explorer 2023.
There is no guarantee that this projection will be achieved.

57 kt
Other uses

135 ktLithium is a critical enablingmaterial for the transition to a
low-carbon economy. It plays a
key role in energy storage
solutions, and is a vital
component of EV batteries.”

2WHAT IS LITHIUM
USED IN?

Jay Jacobs
U.S. Head of Thematics &Active Equity ETFs, iShares

By 2030, batteries are anticipated to makeup 95% of the demand for lithium.³95%

Batteries

EVs
This is the biggest
and fastest growing
source of demand.

Other batteries
Lithium is used in devices
like cell phones, cameras,
toys, toothbrushes,and pacemakers.

Other uses

5%

3

Renewable energy storage
Batteries made of lithium
store electricity generated
from renewable sources likesolar and wind power.

Lithium is also present inlubricants, medications,ceramics, and glass.

³Source: McKinsey & Company, April 2022.
There is no guarantee that this projection will be achieved.

WHEN WILLLITHIUM DEMAND
EXCEED SUPPLY?

Forecasted Lithium
Supply and Demand⁴

SupplyDemandDemand for lithium is anticipatedto surpass supply by 2030, but
technological, financial, and geopoliticalchallenges could hinder extraction andprocessing even further.
mt = Million tons

P = Projections

4.6 mtMeasured in million tons of lithium carbonate equivalent (LCE)i

LCE measures lithium in compounds,
akin to lithium carbonate. It is primarily
processed for batteries and other uses.

2.9 mt

3.5 mt

2.8 mt
1.8 mt
1.4 mt
0.4 mt
0.5 mt
2020

2025P

2030P

2035P

⁴Source: S&P Global Market Intelligence, analysis by Boston Consulting Group, August 2022
Subject to change, there is no guarantee this projection will be achieved.

Investors looking to gain exposure tolithium may want to consider an ETF
that seeks to track an index composedof companies primarily engaged inlithium mining and/or manufacturing.

Learn more about
investing in lithium with iShares

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