Why Lithium Mining Is Anticipated To Grow Tenfold Between 2021 and 2030

- FinancialNewsMedia.com News Commentary - 

PALM BEACH, Fla., March 30, 2023 /PRNewswire/ -- The market for lithium-ion batteries is likely to grow significantly over the next several years as a result of the electrification of cars, which will spur lithium mining during that period. A report from ResearchAndMarkets projected that the Global Lithium market , which was valued at USD 4650 Million in 2021 and expected to grow at a CAGR of 13.5% during the forecast period of 2023-2028. The report said: "Due to the strict rules that ICE automakers must adhere to in order to minimize carbon dioxide emissions from automobiles, the automotive application market is predicted to increase significantly over the course of the projection period. This has caused automakers to become more interested in creating EVs, which is expected to increase demand for lithium and related goods. Together with investments in this area, government subsidies for EVs are projected to serve as an additional catalyst for the market's expansion. Also, the growing lithium-ion battery market will be able to get enough products from the lithium sector. Direct lithium extraction (DLE) and direct lithium to product (DLP), which are anticipated to grow tenfold between 2021 and 2030, can be the driving factors behind the industry's ability to react more quickly to skyrocketing demand."  Active mining stocks in the markets this week include:  Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC),  Lithium Ltd. (NYSE: SLI) (TSXV: SLI), Piedmont Lithium Inc. (NASDAQ: PLL), Pilbara Minerals (OTCPK: PILBF).