The Importance of the Lithium Market in Latin America Countries within the Framework of Global Energy Transition

Nowadays, such a critical mineral as lithium, which is used in many industries, especially in the production of batteries, is of particular importance for the global economy. This technology has become an important component for modern energy transition, in particular in the electric vehicle manufacturing sector and the introduction of renewable energy sources. The increase in battery production has affected lithium production, the main centers of which are Australia, China and Latin America. The countries of the latter are becoming important centers of lithium production, since more than half of the world's resources are located on their territory, primarily in the region of the "lithium triangle" (Chile, Argentina, Bolivia). Research hypothesis: Latin American countries, historically exporters of raw materials in the context of expanding existing opportunities for the introduction of lithium and products based on it as part of the energy transition, will be able to increase their role in global production chains. The study revealed the transformation of the importance of the lithium market in the economies of Latin American countries rich in lithium resources, as part of adaptation to the global energy transition. The novelty of the study is the use of the index of revealed comparative advantages for lithium exports of the "triangle" countries. During the study, it was found that the countries of the "triangle" have a different approach to the development of the industry. In Chile, it is centralized, in Bolivia the industry is nationalized, Argentina is an example of a more open sector for foreign companies, which is why the country leads in terms of investment in the industry. Chile remains the main exporter of the region, which is demonstrated by the high indicators of the index of revealed comparative advantages. The lithium sector is only developing in Bolivia. The main exports of the region's countries are directed to the countries of East Asia (China, South Korea and Japan), where the main production of batteries is concentrated. The trade policy of the countries of the region is aimed at developing cooperation with the main importers of lithium, in which Chile is the leader in terms of the number of free trade agreements. The current restrictions on lithium are related to the willingness of the countries of the region to develop new lithium-ion battery production on their own territory, but this experience remains unsuccessful. The working hypothesis was partially confirmed. The importance of the lithium market in Latin American countries in terms of energy transition is becoming high. Efforts are being made in the lithium Triangle to develop the sector both for exports to developed and large economies and for the formation of new industries. The countries of the lithium triangle are becoming important exporters of raw materials, which is confirmed by their indicators of revealed comparative advantages, primarily Chile. However, attempts to create new lithium-based production facilities remain unsuccessful or are on a small scale and are in the design stage. In general, the countries of the region retain their technological dependence on developed and large economies, which is why they cannot increase their role in global chains, but they have prospects for this within the framework of energy transition due to their potential in the field of renewable energy.