In spite of being popular, there are still many questions that surround lithium ion. For those keen on investing in it, here are three questions that matter:
What’s the demand for lithium ion?
The demand for lithium ion is strong. Data from Technavio revealed that it has a compound annual growth rate of more than 11%. Within the same forecast period, it can reach an income of $81.65 billion. This only refers to batteries.
The increased need for these batteries will come from electric vehicles. International Energy Agency forecasts that there will be over 122 million of them by 2030. It’s not only Tesla that will manufacture these types of cars. Even the mainstream ones such as Volkswagen AG are producing them.
Where can you get more information about the lithium market?
Those who have an interest in the minerals industry can participate in a lithium conference. There are many of these events coming up. Each symposium can have its own objective. It might be to talk about the market or dispel myths. Either way, you can get plenty of pointers that can help you make smart decisions.
What are the advantages and disadvantages of lithium ion?
All types of minerals have strengths and weaknesses. When it comes to lithium ion, the most significant benefit is that it is lightweight. It is the reason why most types of electronics use it. It takes only a short time to charge, and the self-discharge rate is much slower than that of nickel-metal hydride.
On the other hand, the cost of production remains high. As long as the prices are high, the final goods will also be pricey. It can also become unstable and combustible. The safety concerns can be one of the reasons why some people want to stay away from it. Still, multiple studies aim to make these minerals not only more efficient but also much safer.
Should you invest in lithium ion or not? It depends on the goals of your business. Many minerals can provide you with lucrative opportunities. Joining mineral conferences is one of the ways to help you decide.