A Decade Of Lithium Demand Growth Ahead

Canaccord Genuity

In this 76-page report, Canaccord Genuity provides an extensive analysis of the lithium market and leading ASX lithium companies. We forecast the lithium market to grow by 81% to 347kt lithium carbonate equivalent (LCE) by 2020, and by 259% to 687kt LCE by 2025, representing a CAGR of 14% across all demand sectors. We anticipate Li-ion battery-based EV's to be a key driver of demand over the next decade, accounting for 38% of all lithium demand by 2025 (from ~6% in 2015). Similarly, we also anticipate significant demand for lithium from the grid storage sector, which we forecast will account for 13.6% of all demand by 2025. We expect the supply side to respond, but longer term demand profile supports higher lithium prices. We forecast lithium carbonate prices to rise from US$6,000/t in 2015, to US$10,500/t in 2025, with spodumene concentrate prices expected to experience a similar increase from US$450/ t in 2015 to US$725/t in 2025. To access our report, which includes updates on Galaxy Resources (GXY), General Mining (GMM), and Orocobre (ORE), Livewire subscribers can click here: (VIEW LINK)


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