Report Id: SNS/C&M/1466 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Lithium Mining Market is expected to increase at a CAGR of 7%, from USD 3.7 billion in 2022 to USD 6.4 billion in 2030. Some of the primary drivers driving market revenue growth include rising demand for consumer electronics items and increased use of lithium-ion batteries in grid-scale energy storage systems. Increased focus on sophisticated technology research and development in the mining process is predicted to significantly improve market revenue growth. Several colleges are concentrating their efforts on creating innovative technology to aid in the extraction of lithium. Monash University in Australia, the Commonwealth Scientific and Industrial Research Organisation (CSIRO), the University of Texas at Austin, and the University of Melbourne, for example, have created a unique filtering system for collecting lithium ions from brine.
The widespread use of lithium in medical devices and pharmaceutical operations, as well as rapid advancements in electronic vehicles, are propelling the lithium mining industry forward. Similarly, the growing use of lithium in the glass and ceramics, polymer, and pharmaceutical industries is propelling the market forward.
The rising sales of low-cost consumer electronics such as smartwatches, TVs, smartphones, smart gadgets, and handheld devices, as well as production-intensive industrial verticals in China, Japan, and the United States, are the primary drivers of lithium mining industry growth.
Lithium battery disposal and recycling facilities are both expensive and scarce in many nations. Improper lithium battery disposal can also have a significant negative influence on the environment. These are the primary restrictions on the lithium mining market's expansion.
The developed world is gradually investing in electric vehicles, with recent statistics from the International Energy Agency estimating that sales of electric vehicles exceeded 2.1 million in 2019. On the other hand, rising investment in the automotive industry, combined with the existence of established market participants, is driving the adoption of electric vehicles, creating the attractive potential for the lithium mining market.
Several countries have enacted legislation, incentives, and policies to encourage the use of electric vehicles for commercial and personal use. As a result of these reasons, the lithium mining industry is expected to rise rapidly.
The growing demand for electricity and the resulting stimulation of power grid growth as a result of increased industrialization and urbanisation are providing attractive opportunities for the lithium mining business. Developing countries and industrial market participants are concentrating on exploiting renewable energy resources and working on energy storage on a continuous basis. Such characteristics necessitate lithium at every level, creating a lucrative possibility for the lithium mining industry's total growth.
Lithium mining and processing have a negative influence on the environment, causing water pollution and disrupting other ecosystems. This aspect has an impact on the quality of groundwater and the microscopic lithium particles that linger in the air, causing serious respiratory problems. The health risks associated with the lithium mining industry prompted the government to put strict controls on the quantities of lithium produced, which were viewed as major roadblocks to the lithium mining sector's overall expansion.
Impact of Covid-19:
COVID 19 had wreaked havoc on the industrial and commercial sectors. The anguish it had caused had lingered for several years. Business and industrial operations were either slowed or stopped entirely, affecting product demand. The changing economic climate and changing client preferences have an impact on sales in a variety of businesses. Automobile and other luxury goods sales, for example, have dropped dramatically. The important manufacturers were also impacted, resulting in a decrease in mining industry investment. Furthermore, the lithium mining business has become inefficient as a result of the decreasing labour force.
On the other side, the supply of metals was lowered, and demand for metals was also cut. The lithium mining industry's overall expansion has been hampered by fluctuations in metal and mineral prices.
Jiangxi Ganfeng Lithium Albemarle, Sociedad Quimica y Minera,Sichuan Yahua Industrial Group Co Limited, Lithium Americas, Pilbara Minerals Ltd., Bacanora Lithium, Piedmont Lithium ltd, Galaxy Resources ltd, Orocobre Ltd, Young Corporation Ltd, Savannah Resources, Livent Corporation, Mineral Resources Limited, Tianqi Lithium, and other players.
Air Conditioning Equipment
The lithium mining business is now predicted to develop at a faster rate in Asia-Pacific and the United States, with the United States growing at a rate of 3.2 percent. Lithium-ion batteries are increasingly being used in consumer gadgets and medical applications, creating attractive potential for lithium mining as a whole.
European countries are developing electric car manufacturing and boosting their automotive and medical industries. As a result of the extensive use of lithium in various industries, the lithium mining market is growing. Europe, for example, is focused on fuel efficiency and enacting legislation to encourage the use of fuel-efficient vehicles. Furthermore, according to the International Energy Agency, the country has sold over 7 million electric automobiles.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 3.7 Billion|
|Market Size by 2030||US$ 6.4 Billion|
|CAGR||CAGR of 7% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Lithium hydroxide, Lithium carbonate)
• By Application (Batteries, Glass, Grease, Air Conditioning Equipment)
• By Type (Chloride, Lithium hydroxide, Carbonate, Concentrate)
• By Source (Brine, Hard rock)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Jiangxi Ganfeng Lithium Albemarle, Sociedad Quimica y Minera,Sichuan Yahua Industrial Group Co Limited, Lithium Americas, Pilbara Minerals Ltd., Bacanora Lithium, Piedmont Lithium ltd, Galaxy Resources ltd, Orocobre Ltd, Young Corporation Ltd, Savannah Resources, Livent Corporation, Mineral Resources Limited, Tianqi Lithium, and other players.|
Frequently Asked Questions (FAQ) :
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Jiangxi Ganfeng Lithium Albemarle, Sociedad Quimica y Minera,Sichuan Yahua Industrial Group Co Limited, Lithium Americas, Pilbara Minerals Ltd., Bacanora Lithium, Piedmont Lithium ltd, Galaxy Resources ltd, Orocobre Ltd, Young Corporation Ltd, Savannah Resources, Livent Corporation, Mineral Resources Limited, Tianqi Lithium are the major Key players of Global Lithium Mining Market
Ans: COVID 19 had wreaked havoc on the industrial and commercial sectors. The anguish it had caused had lingered for several years. Business and industrial operations were either slowed or stopped entirely, affecting product demand. The changing economic climate and changing client preferences have an impact on sales in a variety of businesses. Automobile and other luxury goods sales, for example, have dropped dramatically.
Ans: From 2022 to 2028, the lithium mining market is expected to increase at a CAGR of 7%, from USD3.5 billion in 2021 to USD 5.6 billion in 2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Global Lithium Mining Market segment, By Product
8.1 Lithium hydroxide
8.2 Lithium carbonate
9. Global Lithium Mining Market segment, By Application
9.4 Air Conditioning Equipment
10. Global Lithium Mining Market segment, By Type
10.2 Lithium hydroxide
11. Global Lithium Mining Market segment, By Source
11.2 Hard rock.
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Jiangxi Ganfeng Lithium Albemarle,
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Tianqi Lithium
13.3 Sociedad Quimica y Minera
13.4 Mineral Resources Limited
13.5 Sichuan Yahua Industrial Group Co Limited
13.6 Livent Corporation
13.7 Lithium Americas
13.8 Pilbara Minerals Ltd.
13.9 Savannah Resources
13.10 Bacanora Lithium
13.11 Piedmont Lithium ltd
13.12 Galaxy Resources ltd
13.13 Orocobre Ltd
13.13 Young Corporation Ltd.
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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