According to Qinghai Taifeng Lithium Energy Technology Co.’s chairman GAO Li, the lithium battery industry market will grow rapidly in the next 5-10 years, and the world will enter the TWh (terawatt-hour) era. It is estimated that this will require 2.2 million t of cathode materials and 800,000 t of lithium carbonate, whereas global production of cathode materials in 2020 was only about 700,000 t and that of lithium carbonate about 300,000 t. These major shortages in supply will lead to explosive growth in demand.

Japan JST China news, April 8, 2021