Australia’s lithium export earnings are projected to increase from $9.9 billion in 2025–26 to $12.5 billion in 2026–27 (in real terms), before moderating to $10.0 billion in 2030–31 as prices ease from current levels.

Australian mine output is expected to grow by about 8% annually to 2031 underpinned by mine expansions, especially at the biggest mines.

Global lithium demand is projected to grow by over 11% a year to 2031, driven by continued strong trends in electric vehicle (EV) adoption and battery energy storage system (BESS) deployment.

Global supply is projected to grow by 10% annually, likely to leave the market oversupplied early in the outlook period before moving back into balance by 2030.

(source: https://www.industry.gov.au/publications/resources-and-energy-quarterly-june-2026)