As Lithium Demand Continues to Rise, the Lithium Market Projected to Reach $6.4 Billion By 2028
The aerospace industry, in particular, requires lightweight and high-performance batteries, making lithium metal an attractive choice, thus enhancing the demand for lithium metal.
- The aerospace industry, in particular, requires lightweight and high-performance batteries, making lithium metal an attractive choice, thus enhancing the demand for lithium metal.
- Furthermore, consumer electronics like watches, toys, and remote controls mainly use lithium metal batteries where lithium metal is used as an anode material.
- Thus, the increasing demand for lithium metal batteries is expected to enhance the market for lithium metal during the forecast period.
- A recent report from MarketsAndMarkets said that the lithium metal market is projected to grow from USD 2.5 billion in 2023 to USD 6.4 billion by 2028, at a cagr 20.4% from 2023 to 2028.