Market Drivers for Commercial Recovery of Products from Geothermal Fluids

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Market Drivers for Commercial Recovery of Products from Geothermal Fluids Hill Technology Management Limited Market Drivers for Commercial Recovery of Products from Geothermal Fluids Client: GNS Science May 2015 Author: Alistair Hill Also available as GNS Science Miscellaneous Series 81; ISBN 978-0-478-19996-3 (print), 978-0-478-19997-0 (online). www.gns.cri.nz 196 Stagecoach Road I Mahana RD1 I Upper Moutere I Nelson 7173 I New Zealand T: +64 (0) 3 540 3739 I M: +64 (0)275 346 778 I Skype: alistairhill I Email: [email protected] TABLE OF CONTENTS Executive summary ......................................................................................................... 7 Introduction ..................................................................................................................... 9 Applications and costs ............................................................................................... 10 Silica .............................................................................................................................. 12 Colloidal silica ............................................................................................................ 12 Precipitated silica ....................................................................................................... 14 Supply chain considerations .................................................................................. 16 Lithium ........................................................................................................................... 18 Introduction ................................................................................................................ 18 Lithium product grades and compounds .................................................................... 18 Non-battery chemical Applications ......................................................................... 21 Glass and Ceramics ............................................................................................... 21 Other Technical Applications ................................................................................. 21 Speciality lithium products and metallic lithium ...................................................... 22 Batteries ................................................................................................................. 22 Market sector demand development.......................................................................... 23 Lithium supply ............................................................................................................ 28 Lithium price development ......................................................................................... 32 Influence of recycling ................................................................................................. 33 Boron ............................................................................................................................. 36 Borate demand .......................................................................................................... 37 Insulation and textile fibreglass .............................................................................. 37 Borosilicate Glass .................................................................................................. 39 Fertilizer ................................................................................................................. 41 Ceramics and frits .................................................................................................. 43 Detergents ............................................................................................................. 44 Wood preservation ................................................................................................. 44 Borate supply ............................................................................................................. 44 Caesium ........................................................................................................................ 47 Caesium uses ........................................................................................................ 47 Caesium extraction ................................................................................................ 49 Caesium market ..................................................................................................... 50 2 Rubidium ....................................................................................................................... 51 Uses of rubidium ........................................................................................................ 51 Rubidium extraction ............................................................................................... 53 Rubidium market .................................................................................................... 53 Magnesium .................................................................................................................... 54 Magnesium uses .................................................................................................... 54 Magnesium as a strategic metal and price volatility ............................................... 56 Sodium .......................................................................................................................... 60 Uses of sodium ...................................................................................................... 60 Sodium extraction and production .......................................................................... 60 Sodium market ....................................................................................................... 60 Potassium ..................................................................................................................... 61 Uses of potassium .................................................................................................. 61 Extraction and production ...................................................................................... 61 Potassium market .................................................................................................. 62 Calcium ......................................................................................................................... 63 Uses of calcium ...................................................................................................... 63 Calcium market ...................................................................................................... 64 Gold ............................................................................................................................... 65 Conclusions ................................................................................................................... 67 3 TABLES Table 1: Lithium product groupings around market and product type ....................... 19 Table 2: Lithium products for technical markets and their key end uses ................... 19 Table 3: Lithium products for speciality and metals markets and their key end uses ............................................................................................................. 22 Table 4: Lithium products for battery markets ........................................................... 23 Table 5: Lithium (LCE) content of non-automotive battery applications .................... 24 Table 6: Automotive battery applications and types .................................................. 24 Table 7: Global industry CAGR selected industries (Borates) 2009 – 2013 .............. 41 Table 8: Regional frits & ceramics market and growth 2010 – 2015 ......................... 43 Table 9: Gold use 2013, 2014 ................................................................................... 65 TABLE OF FIGURES Figure 1: Speciality silica market 2001 – 2026 ........................................................ 13 Figure 2: Speciality silica market value 2001 – 2026 .............................................. 13 Figure 3: Colloidal silica market 2001 – 2026 ......................................................... 15 Figure 4: Precipitated silica market 2001 – 2026 .................................................... 15 Figure 5: The effect of HD Silica on tire performance ............................................. 17 Figure 6: Tire market growth ................................................................................... 17 Figure 7: Lithium process routes illustrating products used for technical grade markets .................................................................................................... 20 Figure 8: Summary of key lithium products and uses ............................................. 20 Figure 9: The effects of battery demand on overall lithium demand........................ 25 Figure 10: Overall lithium demand with different battery scenarios ........................... 25 Figure 11: Light vehicle volumes featuring 48V systems .......................................... 27 Figure 12: Global passenger car and light vehicles emission legislation progress 2005 – 2025 ............................................................................................. 27 Figure 13: A ragone plot illustrating relative power and energy densities for various battery chemistries ................................................................................... 29 Figure 14: Forecast EV range and price evolution for different chemistries .............. 29 Figure 15: Global
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