The global demand for Lithium is red hot. According to Reuters, the Global demand for Lithium batteries alone is expected to leap five-fold by 2030, driven by the purchase of electric vehicles and energy storage systems.
As Electric Vehicles (EVs) continue to proliferate across the United States, the Biden Administration is doing everything possible to support the movement, from offering tax credits to building a national “highway system” of charging stations to make sure EVs can be used for driving greater distances. It’s no surprise that the demand for Lithium is growing.
And it’s not just batteries and energy storage systems. Here are some other uses for Lithium:
- Glass and ceramics: Lithium compounds are used in the production of glass and ceramics to lower the melting point and improve the durability and strength of the materials.
- Pharmaceuticals: Lithium is used as a mood stabilizer in the treatment of bipolar disorder and depression.
- Aerospace: Lithium is used in the aerospace industry for the production of lightweight alloys and as a lubricant in aircraft engines.
- Greases and lubricants: Lithium-based greases and lubricants are used in a wide range of applications, from automotive and industrial machinery to aerospace and marine equipment.
- Metallurgy: Lithium is used as a flux in the production of aluminum, magnesium, and other metals.
- Nuclear power: Lithium is used in the production of nuclear fusion reactions in experimental reactors, and as a coolant in nuclear reactors.
- Air purification: Lithium chloride is used in air conditioning systems to absorb moisture and purify the air.
- Pyrotechnics: Lithium compounds are used in pyrotechnic devices, such as fireworks and flares, to produce a red color.
While China remains a leading supplier of Lithium to the global markets, the U.S. isn’t far behind, with efforts to increase domestic mining operations to meet domestic demand.
Here are some of the Leading Suppliers of Lithium in the U.S. (source: Lithium Investing News)
- Atlas Lithium (NASDAQ: ATLX)
Market Cap as of 3/30/2023: $105.391M
Current Share Price: $17.90 - Piedmont Lithium (NASDAQ: PLL)
Market Cap as of 3/30/2023: $1.157B
Current Share Price: $58.36 - Sigma Lithium (NASDAQ: SGML)
Market Cap as of 3/30/2023: $4.028B
Current Share Price: $38.18 - Lithium Americas (NYSE: LAC)
Market Cap as of 3/30/2023: $3.225B
Current Share Price: $21.35
5. Livent (NYSE: LTHM)
Market Cap as of 3/30/2023: $3.897B
Current Share Price: $21.69
Stayed tuned for further updates on Lithium production.
