Surging global demand for lithium is projected to drive lithium market to $134 billion by 2032
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CALGARY, Alberta–(BUSINESS WIRE)–Midas Vantage Projects (MVP) Lithium Limited, the world’s leader in green solutions for lithium extraction, announces the successful production of 99.9% pure battery-grade lithium hydroxide from brine in the DLE pilot plant from its resource in the Montney Formation.
Driven by the surging demand for electric vehicles (EVs) and their essential components, the global lithium market is poised for unprecedented growth. Valued at $27 billion in 2024, the market is expected to soar to $134 billion by 2032, marking a compound annual growth rate (CAGR) of 22%. This rapid expansion underscores lithium’s critical role in the transition to renewable energy and clean transportation. As EV adoption accelerates, fueled by technological advancements, favorable government policies, and growing consumer demand for sustainable solutions, the need for high-quality lithium products will only intensify, solidifying its position as a cornerstone of the green energy revolution.
“These results demonstrate that the pilot is operating optimally and as expected,” says MVP Lithium CEO Max Iyer. “This milestone not only validates our technological capabilities but also positions MVP Lithium to play a pivotal role in meeting the rapidly growing global demand for lithium. As the EV market drives unprecedented growth in the lithium industry, we are committed to leading the charge with sustainable, high-quality lithium solutions. This achievement underscores our readiness to support the green energy revolution and capitalize on opportunities in an evolving energy landscape.”
About MVP Lithium
MVP Lithium Limited leverages advanced cutting-edge technologies to extract lithium from Western Canada’s rich brines, positioning itself as a leader in sustainable and responsible resource management. Committed to delivering zero-carbon emission and ethically sourced lithium, the company plays a pivotal role in supporting the global clean energy transition as a key provider of responsibly sourced lithium and green energy solutions.
Contacts
Lauren Perry
SlicedBrand for MVP Lithium
[email protected]