Signal IEA: clean energy mineral demand to double by 2030 and quadruple by 2040 under net zero

Summary

Citing International Energy Agency assessments, the report states that world demand for minerals used in clean energy technologies is set to climb steeply. In a scenario based on 2023 policy settings, demand doubles between 2023 and 2030. It nearly triples by 2030 if announced national pledges are met, and it reaches four times its current level by 2040 in the scenario for net zero by 2050. The report links these figures to the pursuit of global climate targets. Because critical minerals are often extracted alongside other commodities as by-products or co-products, supply and demand can become disconnected. The report warns that rising demand combined with supply chain disruption and higher prices could make clean energy technologies more expensive and slow their rollout.