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CommoditiesMedium•3 March 2026•

1 min read

Wood Mackenzie Forecasts Global Lithium Demand to Exceed 13 Million Tonnes by 2050

An open-pit mine with heavy machinery, piles of ore, and mining tools. Chinese and Canadian flags are in the background, overlaid with rising green and red graphs. Bitcoin coins and hard hats are in t

Key Facts

1Global lithium demand is projected to exceed 13 million tonnes by 2050.

Wood Mackenzie has released a long-term forecast projecting that global lithium demand will surge to over 13 million tonnes by 2050. The primary drivers for this massive consumption growth are the rapid adoption of electric vehicles (EVs) and the expansion of large-scale energy storage systems. The report warns of potential supply deficits emerging as early as 2028, as current mining capacity may fail to keep pace with demand. This outlook underscores the accelerating global energy transition and the urgent need for increased investment in lithium extraction projects. While the market currently faces short-term fluctuations, the long-term fundamentals remain bullish for lithium prices and mining equities. Key market instruments, including the LIT ETF and major producers like ALB and SQM, are expected to be significantly influenced by these structural supply-demand dynamics.