Lithium Market 2022 Global Industry Share, Growth, Drivers, Emerging Technologies, and Forecast Research Report 2030

 

The global lithium market size was valued at USD 7.49 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.3% from 2023 to 2030.

Due to the strict rules that ICE automakers must adhere to in order to minimise carbon dioxide emissions from automobiles, the automotive application market is predicted to increase significantly over the course of the projection period. This has caused automakers to become more interested in creating EVs, which is expected to increase demand for lithium and related goods. Together with investments in this area, government subsidies for EVs are projected to serve as an additional catalyst for the market's expansion.

Also, the growing lithium-ion battery market will be able to get enough products from the lithium sector. Direct lithium extraction (DLE) and direct lithium to product (DLP), which are anticipated to grow tenfold between 2021 and 2030, can be the driving factors behind the industry's ability to react more quickly to skyrocketing demand.

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Among the sources of lithium, the rising demand for high-capacity lithium-ion batteries will propel the demand for brine due to the enormous potential and significant technological advancements in the production of the product. Furthermore, the extraction of lithium from geothermal brines provides an opportunity to offer regions a reliable domestic supply of lithium to fulfill the rising needs of electric vehicles and other uses.

The Global lithium market is not fragmented but oligopolistic in structure as there are few players controlling the supply and price dominance in the marketplace. The top 10 lithium companies control more than 60% of the industry, while the other companies in the industry control a combined 22% of the market.

Scope of the Report:

  • The report analyses the Lithium Market by Value (USD Million).
  • The report analyses the Lithium Market by Volume (000’ metric tons of LCE)
  • The report presents the analysis of Lithium market for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028.
  • The report analyses the Lithium Market by Source (Brine, Hardrock).
  • The report analyses the Lithium Market By Applications (Battery, Glass & Ceramics, Lubricant, Casting Fluxes, Other Application).
  • The report analyses the Lithium Market By End Users (Industrial, Consumer Electronics, Energy Storage, Medical, Automotive, Other End User).
  • The Global Lithium Market has been analysed by countries (United States, Canada, Brazil, Germany, UK, France, China, Japan, South Korea, India).
  • The market dynamics such as growth drivers, market trends, and challenges are analyzed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players (Albemarle Corporation, SQM, Tianqi Lithium Corporation, Ganfeng Lithium Co. Ltd., Pilbara Minerals, Allkem, Livent Corporation, Savannah Resources PLC, Li-Cycle Holdings, Minerals Resources Ltd.) are also presented in detail.

Key Target Audience:

  • Lithium Companies
  • EV Companies
  • Component Suppliers
  • Consulting Firms
  • Research and Development Organizations
  • Government Bodies & Regulating Authorities

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With a deep understanding of the industry landscape, Vertex Business Insights is a research and advisory firm offering insights into a variety of industry verticals, products, and services. Our team of highly experienced professionals offers a holistic and research-driven view of every industry vertical, product or service, or industry sector.Our aim is to help our clients make informed decisions and stay ahead of the competition. We offer highly informative research reports as well as corporate-ready advisory and consulting services. The insights we provide can help organizations achieve their business goals in an accurate and actionable way.

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