The global lithium market, size was valued at US$ 3.95 Bn. in 2022 and the total revenue is expected to grow at 6.8 % through 2022 to 2029, reaching nearly US$ 6.26 Bn.
Market Overview:
This study aims to comprehensively analyze the lithium market based on its components, applications, industries, and geographical regions. Detailed insights into the primary growth drivers influencing the lithium market are provided, along with an extensive analysis of its value chain.
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Market Scope:
The research methodology employed to evaluate and forecast the lithium market involves initial secondary research using sources that gather revenue data from key suppliers. Vendor offerings are also taken into account during market segmentation. The total size of the lithium market is determined using a bottom-up approach, considering the revenues of major enterprises.
Drivers:
The growth in the electric vehicles market and the Government’s strict emission standards are expected to augment the market growth of lithium. Demand in Large stationary storage applications is driving the market growth swiftly.
Technological advances in the electrification of buses, trucks, bikes, rickshaws, and cars are escalating demand for Electric vehicles and consequently increasing the demand for lithium-ion batteries. Lithium is a crucial component to clean up the environment by reducing emissions and is being implemented by major automotive companies.
Segmentation:
by Product
Hydroxide
by Source Type
Brines
Hardrock
by Application
Batteries
Lubricants
Pharmaceuticals
Glass and Ceramics
Others
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Key Players:
1. Tianqi Lithium
2. Ganfeng Lithium Co., Ltd.
3. General Lithium Corp
4. LITHIUM EXPLORATION GROUP
5. LSC Lithium Corporation
6. Neo Lithium Corporation
7. U.S. Lithium Corp
8. Yacimientos de Litio Bolivianos
9. Albemarle Corporation
10.Altura Mining
11.Avalon Advanced Materials Inc.
12.Corporation Lithium Elements Critiques
13.FMC Corporation
14.Galaxy Resources Limited
15.Ganfeng Lithium Co. Ltd
16.Lithium Americas Corp.
17.Nemaska Lithium
18.Novo Litio Ltd
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Regional Analysis:
Market share statistics for Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America are analyzed separately. Competitive strengths are evaluated, and individual competitive analyses are conducted for each competitor by analysts at Maximize.
COVID-19 Impact Analysis on lithium Market:
The COVID-19 pandemic has affected various industries including aerospace and defense, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. The impact of COVID-19 on the lithium market and its growth rate during 2019-2020 is significant. Timely insights and analysis on mitigating risks and digitizing operations to provide trusted information and insights to CEOs are crucial for businesses and organizations navigating through the COVID-19 crisis.
Key Questions Answered in the lithium Market Report:
• Which segment dominated the lithium market?
• How was the competitive landscape of the lithium market in 2020?
• What are the key factors driving the growth of the lithium market?
• Which region held the largest share in the lithium market in 2020?
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