Lithium funds are gaining popularity due to their extensive use in portable digital devices and the automotive industry. The industrial demand is fuelling the growth forecast for the metal, which will likely continue to grow at a positive rate of 24% per annum until 2021.
Due to the widespread adoption of energy-efficient batteries, the demand for lithium-ion batteries has increased dramatically. The industry has doubled its use of lithium carbonate. This is an important component of rechargeable batteries. In the last few years, the industrial demand for lithium carbonate has more than doubled.
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Without the easy energy solutions provided by lithium batteries, the gadget industry wouldn't have exploded to such an extent. Its unique characteristics and its rarity make it a valuable resource for miners and explorers.
This metal is now in demand, and mining has seen a surge inactivity. It will continue to be a strong resource for many years to come. Demand has grown 25% between 2010 and 2012 and is expected to increase by 50% by 2020. In 2015, electric cars powered by lithium-ion batteries will likely reach 1.5 to 3.0 million.
A sudden scientific discovery that can not only provide better energy recharging capabilities but also be compatible with existing lithium-cell products is an obvious negative.
While it is possible to find a better replacement, the demand for the metal will be eliminated. However, the likelihood of an invention that would allow such a mutiny to take place in the near future indicates a positive outlook on the sector.