EVs Put The Bite On Cobalt And Lithium Supplies

According to research company Technavio, the global lithium market is expected to increase at a CAGR of 8% until 2021. The lithium market is expected to grow due to the high demand for lithium-ion batteries, which have versatile capabilities. The demand for batteries also increases the demand for cobalt, which is another major element required. According to data compiled by Technavio, the global cobalt market is expected to grow at a CAGR of 9% until 2020. The battery segment for cobalt uses approximately 42 percent of global production, while the remainder is used in industrial related segments.

 

Although the industrial segment for cobalt still controls majority of the global market, the shift to electric vehicles (EVs) will be the market driver in the future. Many countries have begun to reduce diesel powered vehicles to provide a cleaner environment. EVs currently hold a relatively small portion of the automotive market, but shifts are expected to cause a spike in demand. Caspar Rawles, analyst at Benchmark Mineral Intelligence, explained, "I still believe the critical point [for the cobalt market] will be in 2020, when most of the electric vehicles are going to come to market. I don't think there are any factors that could derail the cobalt story at this point."

Sponsored by Infosys

In Conversation with Antonio Neri, President & CEO – Hewlett Packard Enterprise & Salil Parekh, CEO – Infosys

Hear the CEOs of Infosys & HPE discuss the current crisis and how it has accelerated the need for digital transformation for their clients. Connectivity at the Edge, right mix of hybrid cloud, ability to extract data faster than ever before… these are just some of the contributions that HPE and Infosys make to our clients’ digital transformation journey.

 

Hopefully those companies deep mining for cobalt and lithium will leave a little bit of earth so people have some road to drive those EVs on.  For more exciting details, visit The FinancialBuzz and or email them at [email protected], or go analog and call +1-877-601-1879.

Read more on

Suggested Articles

Revenues overall hit $3.82 billion, up 1% from third quarter of 2019, as auto plants reopened and personal electronics revenues grew

MIT Sloan and Boston Consulting Group call for expanding organizational learning to gain better financial rewards of AI deployments

Originally a 1960s memory manufacturer, Intel wants out of NAND following the market decline in 2018