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How Cars and Phones Affect the Lithium Industry

The growing popularity of Lithium funds owes the credit to its extensive usage in portable digital products and the automobile industry. The industrial needs are fuelling the demand forecast for the metal which in all likelihood, will continue to grow annually at a positive rate of 24% till 2021.

The worldwide retail success of products like Apple's iPhones and iPads along with Toyota's Hybrid electric car is the main focus for this investor league. You can look for LG lithium ion battery online.

The demand has incredibly increased due to the widespread use of energy effective batteries. Between the years 2003-2007, the industry doubled its consumption of Lithium carbonate, which is a very important constituent of these rechargeable batteries. Since then the industrial demand has more than doubled in the past few years.

Most major carmakers are now sincerely considering a feasible electric vehicle that can be mass-produced, demand surge from the automobile industry itself may be well upwards of 160% from current levels.

The growth of this rare element has depended a lot upon the adoption of clean energy technology. In contrast to lead and other chemical products, it is significantly eco friendly and has much higher energy storing capabilities.

The gadget industry would have never inflated to this level if it was not for the easy energy solutions that lithium batteries provide. Its unique attributes and a fact that it is a rare metal found only in the top layer of the earth's crust adds to the importance of miners and explorers of the mineral.