Global Lithium-Ion Battery Market Is Projected To Exceed $129 Billion By 2027 - FinancialNewsMedia.com News Commentary PALM BEACH, Fla., March 17, 2021 /PRNewswire/ -- Today, with the increasing concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are gaining preference for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is gaining fast pace. Lithium has been essential for this growth. An article by Trading Economics recently said that the price for Lithium Carbonate, which is a critical ingredient in lithium-ion batteries surged after government incentives boosted demand for the metal while supplies remain tight. European governments offer subsidies to electric-car buyers and sales of alternatively powered cars account now for a third of new passenger cars. In China, electric vehicles sales more than tripled in January from a year earlier and in the US, President Biden pledged to build half a million of charging stations. A report from Statista added: "The market for lithium-ion battery recycling is expected to grow tenfold over the next decade (due to high demand). It is estimated that, by 2030, it will be possible to recover over 120,000 metric tons of lithium carbonate equivalent worldwide from used Li-ion batteries… the global lithium-ion battery market between 2020 and 2025. By 2025, global revenues in the lithium-ion market are expected to exceed 70 billion U.S. dollars." Active mining stocks in the markets this week include: