Electrification
Will Direct Lithium Extraction Disrupt the $90B Lithium Market?
The following content is sponsored by the EnergyX
Will Direct Lithium Extraction Disrupt the $90B Lithium Market?
Current lithium extraction and refinement methods are outdated, often harmful to the environment, and ultimately inefficient. So much so that by 2030, lithium demand will outstrip supply by a projected 1.42 million metric tons. But there is a solution: Direct lithium extraction (DLE).
For this graphic, we partnered with EnergyX to try to understand how DLE could help meet global lithium demands and change an industry that is critical to the clean energy transition.
The Lithium Problem
Lithium is crucial to many renewable energy technologies because it is this element that allows EV batteries to react. In fact, it’s so important that projections show the lithium industry growing from $22.2B in 2023 to nearly $90B by 2030.
But even with this incredible growth, as you can see from the table, refined lithium production will need to increase 86.5% over and above current projections.
2022 (million metric tons) | 2030P (million metric tons) | |
---|---|---|
Lithium Carbonate Demand | 0.46 | 1.21 |
Lithium Hydroxide Demand | 0.18 | 1.54 |
Lithium Metal Demand | 0 | 0.22 |
Lithium Mineral Demand | 0.07 | 0.09 |
Total Demand | 0.71 | 3.06 |
Total Supply | 0.75 | 1.64 |
The Solution: Direct Lithium Extraction
DLE is a process that uses a combination of solvent extraction, membranes, or adsorbents to extract and then refine lithium directly from its source. LiTASTM, the proprietary DLE technology developed by EnergyX, can recover an incredible 300% more lithium per ton than existing processes, making it the perfect tool to help meet lithium demands.
Additionally, LiTASTM can refine lithium at the lowest cost per unit volume directly from brine, an essential step in meeting tomorrow’s lithium demand and manufacturing next-generation batteries, while significantly reducing the footprint left by lithium mining.
Hard Rock Mining | Underground Reservoirs | Direct Lithium Extraction | |
---|---|---|---|
Direct CO2 Emissions | 15,000 kg | 5,000 kg | 3.5 kg |
Water Use | 170 m3 | 469 m3 | 34-94 m3 |
Lithium Recovery Rate | 58% | 30-40% | 90% |
Land Use | 464 m2 | 3124 m2 | 0.14 m2 |
Process Time | Variable | 18 months | 1-2 days |
Providing the World with Lithium
DLE promises to disrupt the outdated lithium industry by improving lithium recovery rates and slashing emissions, helping the world meet the energy demands of tomorrow’s electric vehicles.
EnergyX is on a mission to become a worldwide leader in the sustainable energy transition using groundbreaking direct lithium extraction technology. Don’t miss your chance to join companies like GM and invest in EnergyX to transform the future of renewable energy.
Electrification
Visualizing the Supply Deficit of Battery Minerals (2024-2034P)
A surplus of key metals is expected to shift to a major deficit within a decade.

Visualizing the Supply Deficit of Battery Minerals (2024-2034P)
The world currently produces a surplus of key battery minerals, but this is projected to shift to a significant deficit over the next 10 years.
This graphic illustrates this change, driven primarily by growing battery demand. The data comes exclusively from Benchmark Mineral Intelligence, as of November 2024.
Minerals in a Lithium-Ion Battery Cathode
Minerals make up the bulk of materials used to produce parts within the cell, ensuring the flow of electrical current:
- Lithium: Acts as the primary charge carrier, enabling energy storage and transfer within the battery.
- Cobalt: Stabilizes the cathode structure, improving battery lifespan and performance.
- Nickel: Boosts energy density, allowing batteries to store more energy.
- Manganese: Enhances thermal stability and safety, reducing overheating risks.
The cells in an average battery with a 60 kilowatt-hour (kWh) capacity—the same size used in a Chevy Bolt—contain roughly 185 kilograms of minerals.
Battery Demand Forecast
Due to the growing demand for these materials, their production and mining have increased exponentially in recent years, led by China. In this scenario, all the metals shown in the graphic currently experience a surplus.
In the long term, however, with the greater adoption of batteries and other renewable energy technologies, projections indicate that all these minerals will enter a deficit.
For example, lithium demand is expected to more than triple by 2034, resulting in a projected deficit of 572,000 tonnes of lithium carbonate equivalent (LCE). According to Benchmark analysis, the lithium industry would need over $40 billion in investment to meet demand by 2030.
Metric | Lithium (in tonnes LCE) | Nickel (in tonnes) | Cobalt (in tonnes) | Manganese (in tonnes) |
---|---|---|---|---|
2024 Demand | 1,103,000 | 3,440,000 | 230,000 | 119,000 |
2024 Surplus | 88,000 | 117,000 | 24,000 | 11,000 |
2034 Demand | 3,758,000 | 6,082,000 | 468,000 | 650,000 |
2034 Deficit | -572,000 | -839,000 | -91,000 | -307,000 |
Nickel demand, on the other hand, is expected to almost double, leading to a deficit of 839,000 tonnes by 2034. The surge in demand is attributed primarily to the rise of mid- and high-performance electric vehicles (EVs) in Western markets.
Electrification
Visualizing the EU’s Critical Minerals Gap by 2030
This graphic underscores the scale of the challenge the bloc faces in strengthening its critical mineral supply by 2030.

Visualizing EU’s Critical Minerals Gap by 2030
The European Union’s Critical Raw Material Act sets out several ambitious goals to enhance the resilience of its critical mineral supply chains.
The Act includes non-binding targets for the EU to build sufficient mining capacity so that mines within the bloc can meet 10% of its critical mineral demand.
Additionally, the Act establishes a goal for 40% of demand to be met by processing within the bloc, and 25% through recycling.
Several months after the Act’s passage in May 2024, this graphic highlights the scale of the challenge the EU aims to overcome. This data comes exclusively from Benchmark Mineral Intelligence, as of July 2024. The graphic excludes synthetic graphite.
Securing Europe’s Supply of Critical Materials
With the exception of nickel mining, none of the battery minerals deemed strategic by the EU are on track to meet these goals.
Graphite, the largest mineral component used in batteries, is of particular concern. There is no EU-mined supply of manganese ore or coke, the precursor to synthetic graphite.
By 2030, the European Union is expected to supply 16,000 tonnes of flake graphite locally, compared to the 45,000 tonnes it would need to meet the 10% mining target.
Metal | 2030 Demand (tonnes) | Mining (F) | Processing (F) | Recycling (F) | Mining Target | Processing Target | Recycling Target |
---|---|---|---|---|---|---|---|
Lithium | 459K | 29K | 46K | 25K | 46K | 184K | 115K |
Nickel | 403K | 42K | 123K | 25K | 40K | 161K | 101K |
Cobalt | 94K | 1K | 19K | 6K | 9K | 37K | 23K |
Manganese | 147K | 0K | 21K | 5K | 15K | 59K | 37K |
Flake Graphite | 453K | 16K | 17K | N/A | 45K | 86K | N/A |
The EU is also expected to mine 29,000 tonnes of LCE (lithium carbonate equivalent) compared to the 46,000 tonnes needed to meet the 10% target.
In terms of mineral processing, the bloc is expected to process 25% of its lithium requirements, 76% of nickel, 51% of cobalt, 36% of manganese, and 20% of flake graphite.
The EU is expected to recycle only 22% of its lithium needs, 25% of nickel, 26% of cobalt, and 14% of manganese. Graphite, meanwhile, is not widely recycled on a commercial scale.
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