Visualizing the Future Demand for Battery Minerals
The Future Demand For Battery Minerals
Battery minerals are vital for the clean energy transition. They power cost-effective, on-demand energy systems and are at the core of decarbonizing transportation.
In this graphic, our sponsor Sprott examines the growth in demand for battery metals, as well as potential supply constraints.
Exploring Mineral Growth to 2040
Demand for battery metals is set to skyrocket in the coming years. Let’s break down the expected growth between current usage and the projected demand in 2040, based on a Net Zero Emissions Scenario (NZE):
|Mineral Demand (kilotonnes)
The raw materials that batteries use can differ depending on their chemical compositions. However, these metals are considered critical for EVs and energy storage.
For example, the cells in the average battery with a 60 kilowatt-hour (kWh) capacity—the same size that’s used in a Chevy Bolt—contained roughly 185 kilograms of minerals.
Supply Gap in 2030
The growing demand for these battery metals is raising concerns over supply. Predicted shortages are expected to emerge by or before 2030, according to Energy Transitions Commission:
|Supply gap in 2030P
The rising demand for key minerals, driven in part by the move to EVs, could result in a supply gap that provides a potential investment opportunity in mineral exploration and mining companies. Interested in learning more?
Invest in the energy of tomorrow. Sprott Energy Transition ETFs offer a focused investment opportunity in the miners of the critical minerals essential to fueling the clean energy transition.
You may also like
China2 months ago
China Dominates the Supply of U.S. Critical Minerals List
The U.S. Geological Survey estimates that in 2022, China was the world’s leading producer of 30 out of 50 entries on the U.S. critical minerals list.
United States7 months ago
Charted: America’s Import Reliance of Key Minerals
The U.S. is heavily reliant on imports for many critical minerals. How import-dependent is the U.S. for each one, and on which country?
Energy7 months ago
Ranked: The World’s Top Cobalt Producing Countries
Cobalt, an essential component for certain types of EV batteries, has seen a significant shift in its global production landscape.
Mining2 years ago
Visualizing China’s Dominance in Clean Energy Metals
Despite being the world’s biggest carbon emitter, China is also a key producer of most of the critical minerals for the green revolution.