Global Lithium Foil Market Size to Reach USD 51.98 Billion in 2032 | Emergen Research

Vancouver, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The global lithium foil market size is expected to reach USD 51.98 Billion in 2032 and register a steady revenue CAGR of 19.5 % over the forecast period, according to the latest analysis by Emergen Research. Rising demand for electric vehicles and energy storage systems is a major factor driving market revenue growth. The ongoing global energy crisis and environmental risks have hastened the global adoption of Electric Vehicles (EVs) across the globe. In contrast to gasoline-powered cars, EVs have the potential to substantially decrease greenhouse gas emissions, reduce energy expenses for drivers, and diminish reliance on imported oil. Ambitious policy initiatives in major economies, such as the European Union's Fit for 55 package and the United States' Inflation Reduction Act, are expected to further drive the market share of electric vehicles in terms of revenue throughout this decade and beyond. It is expected that by 2030, the proportion of electric cars in total sales in China, the EU, and the United States will increase to approximately 60%. These encouraging developments are also yielding positive effects on battery production and supply chains which is a major factor driving revenue growth of the market. Lithium foil is employed in lithium-ion batteries because it provides the highest energy density among rechargeable batteries, facilitating quicker and more durable charging of these batteries. These factors are expected to drive revenue growth of the lithium foil market over the forecast period.

However, limited availability of lithium resources and volatility in lithium prices is a major factor restraining revenue growth of the market. Rising demand for lithium is driven by rapid expansion of electric vehicle production relying on lithium-ion batteries. Nevertheless, there exists a global deficiency in the supply of this metal, prompting Western countries to expedite the development of new mines to compete with China. In 2023, electric vehicle sales are expected to reach 13.8 million units, but this figure is expected to soar to over 30 million by 2030. Despite the operation of 45 lithium mines worldwide in 2022, with an additional 11 slated to commence operations this year and seven more in 2024, which is not expected to be sufficient to meet rising demand. Furthermore, even if more  raw lithium is extracted from these new mines, there is the potential for a shortage of facilities capable of refining the metal into battery-grade materials.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2393

Scope of Research

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2393

Major Companies and Competitive Landscape

The global lithium foil market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective database security. Some major players included in the global lithium foil market report are:

• Honjo Chemical Corporation
• Thermo Fisher Scientific Inc.
• AMERICAN ELEMENTS
• Merck KGaA
• Albemarle Corporation
• Nanoshel LLC
• BASF SE
• Ganfeng Lithium Group Co.
• CEL
• SQM S.A.
•  Livent
• Talison Lithium Pty Ltd
• Pilbara Minerals Limited
• Galaxy Resources Limited
• Neo Lithium Corp.
• Orocobre Limited Pty Ltd (Allkem)
• Lithium Americas Corp.
• Bacanora Lithium
• Millennial Lithium
• LiTHIUM X

Strategic Development

On 1 September 2023, NOVONIX Limited, a leading company in battery materials and technology, announced a partnership with SandboxAQ, an enterprise SaaS firm that combines Artificial Intelligence (AI) with Quantum Analysis (AQ) to address complex global challenges. Together, they will collaborate to predict the lifespan of lithium-ion batteries. This will be achieved by utilizing SandboxAQ's AI-powered chemical simulation software and NOVONIX's Ultra-High Precision Coulometry (UHPC) technology, along with their extensive expertise in battery cell prototyping and testing. Given the increasing demand for lithium-ion batteries to support the global shift towards electrification, optimizing battery performance and lifespan has become exceptionally crucial for enhancing overall performance and reducing battery costs. NOVONIX is dedicated to developing essential technologies and materials required for long-lasting, high-performance battery applications.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2393

Some Key Highlights From the Report

• The battery anode material segment is expected to account for largest revenue share in the global lithium foil market during the forecast period. The battery anode material segment is further sub-segmented into lithium-ion batteries, lithium polymer batteries, and solid-state batteries. Lithium (Li) foil is considered an ideal choice as an anode material for rechargeable batteries, primarily because of its exceptionally high theoretical specific capacity (3860 mA h g−1), low density (0.59 g cm−3), and the most negative electrochemical potential (−3.040 V compared to the standard hydrogen electrode). As we enter the era of post-Li-ion batteries, ensuring safe and efficient operation of Li metal anodes has become a critical technology. This capability could play a pivotal role in determining the success of several promising candidates for the next generation of energy storage systems, including rechargeable Li–air batteries, Li–S batteries, and Li metal batteries employing intercalation compounds as cathodes which are expected to drive revenue growth of the market.
• The ultra-thin lithium foil (less than 0.1mm) segment is expected to account for a significantly large revenue share in the global lithium foil market over the forecast period. In a thin foil lithium-ion battery, both electrodes possess the capability for reversible lithium insertion, effectively creating a Li-ion transfer cell. In contrast to conventional lithium-ion batteries that typically employ liquid electrolytes, thin film-based systems commonly utilize solid electrolytes that can adapt to the battery's shape. Liquid electrolytes can pose challenges if they are incompatible with the separator, and they often necessitate an increase in the battery's overall volume, which is not conducive to achieving high energy density in the system. Furthermore, in a flexible thin film Li-ion battery, the polymer-based electrolyte serves multiple functions as the electrolyte, separator, and binder material. This design not only enables flexibility but also eliminates the concern of electrolyte leakage.
• The North America market is expected to account for largest revenue share in the global lithium foil market during the forecast period. This is attributed to increasing activities by key market players in countries in this region. For instance, on 30 August 2022, Energy Capital Group, a Saudi investment company, invested in Pure Lithium, a U.S.-based company that specializes in lithium metal batteries. Pure Lithium has developed a battery technology aiming to replace current Lithium-ion (Li-ion) batteries. Their rechargeable lithium metal product is not only lighter than Li-ion batteries but also significantly more cost-effective to produce, while also eliminating the necessity for materials such as graphite, nickel, cobalt, and manganese.

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/lithium-foil-market
For the purpose of this report, Emergen Research has segmented the global lithium foil market based on purity level, application, thickness-based, end-use, and region:

• Purity Level Outlook (Revenue, USD Billion; 2019–2032)
  • Less than 99.5%
  • 99.5% and above
• Application Type Outlook (Revenue, USD Billion; 2019–2032)
  • Battery Anode Material
    • Lithium-ion Batteries
    • Lithium Polymer Batteries
    • Solid-State Batteries
  • Thermal Insulation
    • Aerospace
    • Electronics
    • Automotive
    • Building & Construction
  • Chemical Reagents
    • Laboratory Use
    • Industrial Processes
  • Others
    • Nuclear Reactors
    • Lithium-Based Alloys
• Thickness-based Outlook (Revenue, USD Billion; 2019–2032)
  • Ultra-Thin Lithium Foil (Less than 0.1mm)
  • Thin Lithium Foil (0.1mm - 0.5mm)
  • Thick Lithium Foil (0.5mm and above)
• End-Use Outlook (Revenue, USD Billion; 2019–2032)
  • Electronics
    • Smartphones and Tablets
    • Laptops and Notebooks
    • Wearable Devices
  • Automotive
    • Electric Vehicles (EVs)
    • Hybrid Vehicles
    • Conventional Vehicles
  • Aerospace
    • Satellites
    • Aircraft
    • Spacecraft
  • Energy Storage
    • Residential Energy Storage
    • Grid-Level Energy Storage
  • Chemical
    • Pharmaceuticals
    • Specialty Chemicals
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of MEA

Curated Reports You Shouldn't Miss: Dive In Now!

Nanocoatings Market By Product Type (Antimicrobial, Anti-Fouling & Easy-to-Clean, Self-Cleaning. Anti-Fingerprints), By Distribution Channel, By Industry Verticals (Healthcare, Automotive, Building & Construction, Electronics, Marine, Energy, Water Treatment, Packaging), Forecasts to 2027

PVDF Membrane Market By Type (Hydrophobic, Hydrophilic), By Technology (Microfiltration, Ultrafiltration, Nanofiltration), By Application (Bead-based Assays, Sample Preparation, General Filtration), By End-use Industry (Industrial, Biopharmaceutical, Food & Beverage), and By Region Forecast to 2027

Wood Preservatives Market By Application (Commercial, Residential, Industrial), By Formulation (Solvent-based Wood Preservatives, Water-based Wood Preservatives, Oil-based Wood Preservatives), and By Region, Forecasts to 2027

Electrophoresis Market By Product (Electrophoresis Reagents, Electrophoresis Systems, Electrophoresis Software, Gel Documentation Systems), By Application (Research, Quality Control & Process Validation, Diagnostics), By End User (Academic & Research Institutes, Hospitals, Pharmaceutical & Biotechnology Companies, Others), and By Regions, Forecast to 2028

Cellulose-Based Plastics Market Size, Share, Trends, By Type (Cellulose Butyrate, Cellulose Acetate, Cellulose Propionate), By Application (Thermoplastic, Extruded Films, Rods, Sheets, Ophthalmic Goods), By End-use (Food Packaging, Automotive) and By Region Forecast to 2028

Fiber Reinforced Polymer Rebar Market By Fiber Type, By Resin Type (Epoxy, Polyester, Vinyl Easter, Others), By Application (Water Treatment Plants, Highways, Bridges & Buildings, and Others), and By Region Forecast to 2028

Synthetic Leather Market By Type (Polyurethane, Polyvinyl Chloride, Bio-Based), By Application (Footwear, Clothing, Automotive, Bags, Purses & Wallets, Furnishing, Sports, Electronics) and By Region Forecast to 2028

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights

Read our Press Release @ https://www.emergenresearch.com/press-release/global-lithium-foil-market