How much is the lithium battery industry worth in 2023?

Estimates show that the global lithium battery industry was worth $54 billion in 2023, but global macroeconomic troubles left in the wake of the coronavirus pandemic have also shaken up the sector by quite a bit.

What are lithium stocks?

Lithium stocks are commodity stocks that have principal interests in the mining, refining and distribution of lithium. The companies included under the umbrella of lithium stocks may be involved in the production of other metals and minerals, but lithium will be included in their portfolio.

What are the best lithium stocks?

One of the younger firms on this list of best lithium stocks, Pilbara was incorporated in 2005 and primarily produces lithium through a wholly-owned project located in a region of Western Australia. That site is billed as the largest independent hard-rock lithium operation in the world, and Pilbara has estimated the mine life at 34 years of output.

Why did lithium price fall in 2023?

The resulting oversupply of lithium caused the lithium price to fall through 2023 and into 2024. Even with the oversupply, soaring battery demand from EVs and energy storage (saving power for later distribution to the electric grid) have some investors anticipating a solid recovery in lithium demand in the next few years.

How will the lithium-ion battery industry grow in 2027?

With this growing demand, the lithium-ion battery industry is projected to hit 87.54 billion USD in 2027 at 13% CAGR. The increase in the demand is a result mostly of the projected electric vehicle boom of the world, experts are now projecting electric cars going from 2% market share in the year 2018 to around 25-35% by the year 2030.

Which lithium company has the highest stock price?

Founded in 1887, Albemarle Corp. is the company with the longest history and the highest stock price among those listed here. Formerly known as Western Lithium USA Corp., the company became Lithium Americas Corp. in March of 2015.