Global demand for battery metals 2022-2040, by commodity

Published by
Madhumitha Jaganmohan,
Apr 25, 2024
In 2022, copper was the battery metal which had the largest global demand at more than six million metric tons. By 2040, the demand for copper worldwide is forecast to more than triple and amount to over 20.6 million metric tons based on the Net Zero Emissions Scenario (NZE).

Demand for battery metals worldwide in 2022 with forecast for 2040, by commodity (in 1,000 metric tons)

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Release date

February 2024

Region

Worldwide

Survey time period

2022

Supplementary notes

*Forecast based on the Net Zero Emissions Scenario (NZE).

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Overview

4

Reserves

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Production

6

Political stability

5

Consumption

6

Electric vehicles

2

Trade and prices

4

Environmental impact

4

Outlook

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Battery minerals worldwideNickel mining worldwideLithium industry worldwideStrategic minerals worldwideCobalt mining industry worldwide
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