Market
COPPER MARKET
Over the past decade, the total global copper reserves have increased from 630 million metric tons in 2010 to 880 million metric tons as of 2021. Meanwhile, the total global copper production from mines amounted to an estimated 21 million metric tons in 2021
Electric vehicles need twice as much copper as internal combustion engines
Volume of global copper in electric vehicles
metric tons in 2022
Volume of global copper in electric vehicles
metric tons expected by 2023
GLOBAL COPPER MARKET BY REGION
global copper market was valued at
USD in 2021
expected to grow to
USD by 2030
Sources:
https://www.acumenresearchandconsulting.com/copper-market
https://www.vantagemarketresearch.com/industry-report/copper-in-electric-vehicles-market-1776
https://www.statista.com/topics/1409/copper/#topicOverview
https://www.databridgemarketresearch.com/reports/global-copper-market
LITHIUM MARKET
YOY demand increased
for lithium-ion batteries
Global EV sales doubled from 3.3M units to
between 2020 and 2021
Global EV sales increased by
in 2022
Facing supply deficit as demand could increase by
in the next decade
Global EV sales doubled from 3.3M units to
Lithium prices have surged
Depending on the method of lithium extraction, bringing new capacity online can take
3-5yrs
or more
Sources: https://www.forbes.com/sites/davidblackmon/2022/05/02/skyrocketing-lithium-prices-highlight-need-for-new-technologies/?sh=4d1cf11db273 | https://www.globalxetfs.com/lithium-market-update-elevated-prices-are-creating-favorable-dynamics-for-miners/
Lithium supply is likely to lag lithium demand through the first half of the decade.
In the short term, notable lithium mining capacity is set to come online in late 2023 and early 2024
These new projects could cut into the deficit in 2023, but surging EV sales are expected to result in sizeable shortages again in 2024 and 2025.
EVs could account for about
of total lithium demand by 2030
up from about
in 2021
Sources: https://www.globalxetfs.com/lithium-market-update-elevated-prices-are-creating-favorable-dynamics-for-miners/
The electric vehicle MARKET
Lithium is one of the key components in EV batteries, but global supplies are under strain because of rising EV demand
of vehicle sales will be EV or hybrid by 2040
EV passenger cars by 2040
barrel demand oil displaced by EVs by 2040
Sources: https://www.woodmac.com/our-expertise1/capabilities/electric-vehicles/2040-forecast/
battery plant MARKET
Expected Global Lithium Demand of: 2.7 Mt LCE in 20301
Expected Global EV Battery Demand of: 3.2 TWh in 2030 (~2.5M – 2.9Mt LCE)2
- operational plant
- project in process
- OPERATIONAL PILOT LINE OR IN PROGRESS
Source: IEA
1. Based on IEA’s “The Role of Critical Minerals in Clean Energy Transitions”, May 2021
2. Based on IEA’s “Global EV Outlook 2022”, May 2022. Assuming 0.8 – 0.9kg LCE/kWh
Canada x Volkswagen Battery Plant Deal
Volkswagen announces plans to build a major plant for electric vehicle batteries in St. Thomas, Ontario, Canada
- This will be Volkswagen’s first overseas gigafactory and production is planned for 2027
- The new battery plant could result in adding as many as 2,500 direct jobs and up to 7,500 total indirect jobs
- Canada will contribute to Volkswagen’s battery supply chains through raw materials and assembly
Source: IEA
1. Based on IEA’s “The Role of Critical Minerals in Clean Energy Transitions”, May 2021
2. Based on IEA’s “Global EV Outlook 2022”, May 2022. Assuming 0.8 – 0.9kg LCE/kWh
GOLD MARKET
Gold continues to be the most popular precious metal commodity by offering long-term store of value and serving as a hedge against inflation.
Gold mining is a global industry with operations on every continent except Antarctica.
global gold mining market
Expected CAGR between 2022 and 2027
Gold has been considered one of the best sources of investment for centuries and is always in high demand regardless of any fluctuating economies and happenings in society
Global gold production is expected to surpass
ounces by 2024
Sources:
Gold.org
https://www.researchandmarkets.com/reports/5574847/global-gold-mining-market-2022-edition
https://www.mining-technology.com/gold-commodity-dashboard/