According to a recent report published by U.S. News & World Report, the burgeoning lithium-ion battery market is set for meteoric growth and success for its investors.
The mainstream automotive market is more widely embracing electric cars. As a result, demand is booming for rechargeable lithium-ion batteries, made from the world’s lightest metal. Lithium’s growing impact will also be felt in the renewable energy batteries sector, with the technology’s ability to store solar and wind-generated electricity.
Consider the significant growth in demand predicted for the lithium battery market depicted in this chart:
For investors interested in lithium, it is important to note that lithium isn’t traded on an exchange the same way as commodities like corn, copper and oil. Rather, investors gain access to the market through an exchange-traded fund. Investors also may work directly with companies that produce lithium or manufacture rechargeable lithium-ion batteries.
Demand for lithium-ion battery applications is growing more than 10 percent annually, according to the Longbow Research basic materials analyst Dmitry Silversteyn. The use of lithium will also continue to grow in lubricants and medical applications due to its efficient energy storage, light weight and power potential.
Without a doubt, lithium is a powerhouse that has an ever-growing potential to change the battery industry. Embrace the trend and optimize your applications with lithium batteries.