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https://www.barchart.com/story/news/23872511/as-lithium-demand-continues-to-rise-the-lithium-market-projected-to-reach-64-billion-by-2028


As Lithium Demand Continues to Rise, the Lithium Market Projected to Reach $6.4 Billion By 2028FinancialNewsMedia - Tue Feb 6, 7:45AM CST Partnership ContentPalm Beach, FL – February 6, 2024 – FN Media Group News Commentary – Lithium metal is used in various industrial applications, including the private, consumer, aerospace and defense industries

. The aerospace industry, in particular, requires lightweight and high-performance batteries, making lithium metal an attractive choice, thus enhancing the demand for lithium metal. Lithium metal is an essential component of lithium-ion batteries and solid-state batteries, as it is used to create the anode or negative electrode of the battery. Lithium metal has a very high energy density and can store a lot of energy in a small volume and allows for longer run times. Lithium metal batteries currently use graphite as the anode material, which has a limited capacity for storing lithium ions. Lithium metal has 10 times the specific capacity for storing lithium ions as compared to graphite battery.


Furthermore, consumer electronics like watches, toys, and remote controls mainly use lithium metal batteries where lithium metal is used as an anode material. Thus, the increasing demand for lithium metal batteries is expected to enhance the market for lithium metal during the forecast period. A recent report from MarketsAndMarkets said that the lithium metal market is projected to grow from USD 2.5 billion in 2023 to USD 6.4 billion by 2028, at a cagr 20.4% from 2023 to 2028. The market has observed stable growth throughout the study period and is expected to continue with the same trend during the forecast period. Active stocks in the mining markets this week include Canter Resources Corp. (OTCPK:CNRCF) (CNSX:CRC.CN), LithiumBank Resources Corp. (OTCQX:LBNKF) (TSXV:LBNK.VN), Rio Tinto Group (NYSE:RIO), Tesla, Inc. (NASDAQ:TSLA), Albemarle Corporation (NYSE:ALB).