Global demand for materials surges due to population growth, economic expansion, and the energy transition, posing challenges for securing a sustainable supply.
The world’s total demand for materials is expected to climb around 30% from just over 9 billion tonnes Gt in 2022 to more than 12 Gt in 2050. Continued economic expansion and population growth are expected to be the main drivers of the surging need for more materials. The biggest-consuming sectors are mature industries like construction, consumer products, packaging, and transportation, which made up around 90% of the material demand by weight in 2022.
Battery materials such as lithium, and metals commonly used as electric conductors, like copper and aluminum, are expected to require the highest supply growth compared to 2022 levels to enable the energy transition Figure 3. The increased need for battery materials is driven by the high pace in the electrification of road transportation and battery energy storage systems.
Energy Transition Supply Chain Construction Materials Battery Materials Critical Minerals Sustainability Natural Resources Global Economy Renewable Energy
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