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Developments in the Lithium Compounds Market

FinancialBuzz.com News Commentary

NEW YORK, April 30, 2018 /PRNewswire/ --

According to a research report by Markets and Markets, the global lithium compounds market is projected to reach USD 5.87 Billion by 2020 and at a 13.22% CAGR. Li-ion batteries are the largest segment for lithium compounds in terms of value and volume. The demand for li-ion batteries is growing in countries globally with the need for new generation energy electronic devices like cameras, high performance portable computing devices, and electric vehicles. This in turn is driving the growth of lithium compounds. Data compiled by Markets and Markets research, the lithium-ion battery market is forecast to be valued at $68.97 billion by 2022 and growing at a CAGR of 16.6 percent. MGX Minerals Inc. (OTC: MGXMF), Tesla, Inc. (NASDAQ: TSLA), Panasonic Corporation (OTC: PCRFY), Nemaska Lithium Inc. (OTCQX: NMKEF), Galaxy Resources Limited (OTC: GALXF)

The lithium-ion market has been outpacing expectations, causing analysts to reiterate their forecasts. The rising price in lithium will be attributable to demand being significantly higher than supply available. "The continued pricing strength in lithium has been a surprise," said Chris Berry of House Mountain Partners. "I thought the lithium market (on a LCE basis) would grow to roughly 550,000 tonnes per year, [but] in the middle of the year I adjusted this upwards to 617,000 tonnes by 2025. This still appears too conservative based on potential gigafactory-scale expansion."

Developments in the Lithium Compounds Market