The 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.
Lithium Market Overview:
Maximize Market Research’s new report, Global Lithium Market 2021-2027, is useful for understanding the market’s competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2021-2027). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Lithium Market
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Market Scope:
The research provides an analytical view of the business by studying several elements such as worldwide Lithium Market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market’s complexities. The research provides an overview of the worldwide Lithium Market , including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.
Dynamics:
The market for electric vehicles is anticipated to expand, and the government’s tough emission regulations should help. Large stationary storage application demand is accelerating market expansion.
The electrification of buses, lorries, scooters, rickshaws, and cars has resulted in technological advancements that are driving up demand for electric vehicles and, as a result, for lithium-ion batteries. Major car businesses are using lithium, which is essential for decreasing pollutants and cleaning up the environment.
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Segmentation:
by Product
Carbonate
Hydroxide
In terms of product, Carbonate held a 68% market share in 2022. The most stable substance is carbonate, which can also be used to create other substances like pure lithium and lithium hydroxide. It is widely utilised in the production of lithium-ion batteries for the automotive industry as well as the processing of metal oxides and the creation of medications for bipolar disorders.
by Source Type
Brines
Hardrock
Brines led the market in 2022 with a 57% share by Source Type. Salt brines are mostly produced from seawaters. Before being sent to facilities for the manufacturing of carbonate, the brines are concentrated through evaporation.
Through the projection period, Hardrock is anticipated to increase at a CAGR of 3.4 percent. Concentrate production in hard rock mines is less expensive than that from brines. The price of a crucial finished good called spodumene concentrate is much lower than those made at brines, which is fueling the market’s expansion over the projection period.
by Application
Batteries
Lubricants
Pharmaceuticals
Glass and Ceramics
Others
With a 28% market share in 2022, the Batteries application sector will rule the industry. Primary and secondary batteries that combine active materials for the cathode, anode, and electrolyte are lithium batteries. Secondary batteries are used in computers, electric cars, cordless tools, cameras, calculators, watches, electronic games, and other devices. Primary batteries are used in these devices. A CAGR of 7% is predicted for the battery market. Throughout the projection period, the market for electric vehicles is anticipated to increase at a faster rate than that of batteries.
Key Players:
It then discusses the top competitors in the worldwide Lithium Market , as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:
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
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Regional Analysis:
The report has analyzed the global Lithium Market in the following regions:
- America, North (the United States, Canada, and Mexico)
- European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (Brazil, Argentina, Colombia, and Rest of South America)
- Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)
The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Lithium Market , such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.
COVID-19 Impact Analysis on Lithium Market :
COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.
Key Questions Answered in the Lithium Market Report are:
- Which are the major companies in the Lithium Market ?
- Which is the potential market for Lithium Market in terms of the region?
- Which application area of Lithium Market is expected to grow at a significant rate in the market in the next 5 years?
- What are the opportunities for new market entrants?
- What will be the Lithium Market size by 2027?
- What are the growth prospects for the Lithium Market ?
- What is the base year considered in the Lithium Market report?
- Which region holds the largest market share in the Lithium Market ?
- What factors are anticipated to drive the Lithium Market ?
