Lithium market 2021 outlook to 2050 Report

Commodity Market Report 29 December 2021

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

The inaugural lithium report contains a significant overhaul of both supply and demand as strong methodologies and datasets have been combined. Our outlook has been extended to 2050. The last few years have been remarkable for the lithium industry and 2021 was no exception. With demand growth outstripping supply growth we saw spot prices increase to record levels. With new supply being added continuously in the coming years we are forecasting a relative balance in the market in the near term and we should see prices moderate to more sustainable levels. In the medium term we are forecasting a calculated supply deficit to occur and as a result prices will increase to levels which incentivise additional supply. While growth in demand LFP cathode chemistry will continue to result in strong growth for lithium carbonate, we are forecasting stronger growth for lithium hydroxide as a result of growing demand for high nickel cathode chemistries.

Historic prices
Current price landscape
Price outlook
- Battery-grade lithium hydroxide
- Battery-grade lithium carbonate
- Technical-grade lithium hydroxide
- Technical-grade lithium carbonate
- Chemical-grade spodumene concentrate
Market balance outlook
- Lithium chemical market balance outlook
- Battery-grade lithium chemical market balance outlook
- Mineral concentrate market outlook
- Key risks to market balance
Demand outlook
- Lithium chemical demand outlook
- Mineral concentrate demand outlook
Supply outlook
- Lithium chemical supply outlook
- Mineral concentrate supply outlook
Key risks to the base case outlook
Rechargeable Li-ion batteries
- Lithium demand in automotive
- Lithium demand in automotive by region
Lithium demand in ESS
Lithium demand in portable electronics
Li-ion batteries in power applications
Lithium demand in motive applications
9 more item(s)...