PROSPECTS AND RESTRICTIONS FOR THE DEVELOPMENT OF THE LITHIUM INDUSTRY IN UKRAINE
DOI:
https://doi.org/10.56197/2786-5827/2024-3-4-2Keywords:
modeling, forecasting, lithium industry, critical materials, investments, lithium products, global market, demand, prospects, renewable energyAbstract
Introduction. A leading trend in modern development is the growing consumption of energy. Energy availability is a critical component for supporting the maintenance of living standards and stimulating industrial production. Currently, the role of critical materials required for the production of energy-saving devices and renewable energy technologies (lithium, cobalt, nickel) is growing. The global lithium market is currently growing rapidly due to increased demand for batteries, electric vehicles and renewable energy sources. Ukraine is among the countries that potentially have prospects to become a participant in lithium manufacturing chains.
Materials and methods. The theoretical and methodological basis of the study is the scientific works of domestic and foreign scientists, as well as statistical data.
Results and discussion. The article identifies the most important factors influencing the development of the global lithium market. The key players in the global lithium market are analyzed in the regional context. The leaders of the global lithium products market are: USA, Australia, Chile, Canada and China. The dynamics of supply and demand for lithium in the global market in 2022-2023 with forecasts for 2024-2025 are analyzed. Based on the analysis of indicators (market volume, revenue share of the region in the structure of the world market, average annual growth rate (CAGR)), the forecast volumes of the global lithium market until 2030 are determined.
Conclusions. The global market for lithium products requires sustainable supplies, including through the discovery of new lithium deposits and the introduction of innovative processing technologies. Among the countries with prospects to become a member of lithium production chains is Ukraine, which has sufficient resource, labor and scientific potential. In general, investments in geological exploration, extraction and processing of lithium raw materials, and construction of lithium battery plants in Ukraine have promising opportunities and high profitability. In addition, investors' interest in financing investment projects for the extraction and processing of lithium in Ukraine will grow due to the following reasons: availability of natural resources; the strategic role of lithium in the global economy; European integration and geographical location; possible government support; global demand for electric vehicles and alternative energy. However, the war in Ukraine could deter potential investors due to risks associated with investment security, regulatory and bureaucratic barriers.
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