Forecast: Import of Lithium Oxide and Hydroxide to South Africa

The import of Lithium Oxide and Hydroxide to South Africa in 2023 stood at 323.94 thousand kilograms. Reviewing the historical data, there is an overall declining trend from 2013 to 2028, with fluctuations such as an 18.28% decrease from 2019 to 2020, followed by a 24.57% increase from 2020 to 2021. The last year-on-year variation from 2022 to 2023 showed a slight reduction of 1.52%. The forecast data projects a continuous decline, with an average annual decrease (CAGR) of approximately -1.34% over the next five years.

Future trends to watch include:

- Advancements in battery technology and their potential impact on demand.

- The progression of electric vehicle adoption in South Africa and globally.

- Changes in global supply chains and potential shifts in sourcing strategies.