Dublin, March 09, 2023 (GLOBE NEWSWIRE) -- The "Global Lithium Market (2023 Edition) - Analysis By Value and Volume, Source (Brine, Hardrock), Applications, End Users, By Region, By Country: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The Global Lithium market was valued at USD 4650 Million in 2021 and expected to grow at a CAGR of 13.5% during the forecast period of 2023-2028. The market for lithium-ion batteries is likely to grow significantly over the forecast period as a result of the electrification of cars.
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.
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.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $5.64 Billion |
| Forecasted Market Value (USD) by 2028 | $10.6 Billion |
| Compound Annual Growth Rate | 13.4% |
| Regions Covered | Global |
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 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.
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 Corporation
- Mineral Resources Ltd.
Key Topics Covered:
1. Market Background
1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Strategic Recommendations
3. Global Lithium Market: Historic and Forecast (2018-2028)
3.1 Impact Analysis of Macro Economic Factors on Lithium Market
3.2 Worldwide Lithium Resources
3.3 Global li-ion Battery Demand
3.4 Global Lithium Market: Dashboard
3.5 Global Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
3.6 Global Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
3.7 Average Selling Price Analysis (USD/Metric Tons of LCE
3.8 Impact of COVID-19 on Lithium Market
3.9 Global Lithium Market Segmentation: By Source
3.10 Global Lithium Market Segmentation: By Application
3.11 Global Lithium Market Segmentation: By End Users
4. Global Lithium Market, Region Analysis
4.1 Regional Coverage of the Study
4.2 Regional Snapshot
5. Americas Lithium Market: Historic and Forecast (2018-2028)
5.1 Americas Lithium Market: Snapshot
5.2 Americas Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.3 Americas Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
5.4 Americas Lithium Market: Key Factors
6. Europe Lithium Market: Historic and Forecast (2018-2028)
6.1 Europe Lithium Market: Snapshot
6.2 Europe Lithium Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.3 Europe Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
6.4 Europe Lithium Market: Key Factors
7. Asia Pacific Lithium Market: Historic and Forecast (2018-2028)
7.1 Asia Pacific Lithium Market: Snapshot
7.2 Asia Pacific Lithium Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.3 Asia Pacific Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
7.4 Asia Pacific Lithium Market: Key Factors
8. Middle East & Africa Lithium Market: Historic and Forecast (2018-2028)
8.1 Middle East & Africa Lithium Market: Snapshot
8.2 Middle East & Africa Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
8.3 Middle East & Africa Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
8.4 Middle East & Africa Lithium Market: Key Factors
9. Market Dynamics
9.1 Impact assessment of Market Dynamics on Global Lithium Market
9.2 Drivers
9.3 Restraints
9.4 Trends
10. Industry Ecosystem Analysis
10.1 Macro-Economic Factor Assessment
10.2 Porter Analysis
10.3 Value Chain Analysis
11. Competitive Positioning
11.1 Companies' Product Positioning
11.2 Market Position Matrix
11.3 Market Share Analysis of Lithium Market
11.4 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/e2nqug
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