SHANGHAI, Aug 23 (SMM) - Under the global trend of electrification of vehicles, the global lithium demand is expected to increase from 430,000 mt in 2021 to 1.54 million mt of LCE in 2025, with a CAGR of 38%. Meanwhile, lithium supply and demand is expected to become tighter from 2021-2025. Salt lake resources have the advantages of large scale reserves and low lithium extraction costs.
In 2020, 74% of lithium in China was sourced from overseas. While the domestic lithium reserves in the salt lake accounted for 79% of the total amount in China, the development of the salt lake will help to secure the supply of domestic lithium resources with strategic significance.