According to the forecast, it will increase by 50-75%, mainly due to electric vehicles and energy storage systems. In addition, the demand for rare earth metals needed for permanent magnets used in wind turbines and electric motors is projected to increase by 45%. At the same time, in 2024, China controlled more than 90% of the production of key components for electronics, such as gallium and magnesium (production at refineries). Beijing has extracted almost 80% of the world's natural graphite, used mainly in batteries, and almost 70% of the world's rare earth elements needed for permanent magnets in electric vehicles and wind power. The country accounts for more than 60% of the world's titanium and aluminum production.
In the period from 2024 to 2030, the global demand for lithium, according to the baseline scenario, will grow by 146%, while the demand for graphite and cobalt
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