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Lithium Mining Market

Lithium Mining Market Size, Share & Segment 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), and by Regions | Global Market Forecast 2022-2028

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 3.5 billion in 2021 to USD 5.6 billion in 2028. 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.

Lithium Mining Market Revenue Graph

Market Dynamics:

Drivers:

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.

Restraints:

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.

Opportunities:

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.

Challenges:

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.

Key players:

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.

Market Segmentation:

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.

Lithium Mining Market Segment Pie Chart

Regional Analysis:

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.

 REGIONAL COVERAGE

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

 

Lithium Mining Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 3.5 Billion
Market Size by 2028 US$ 5.6 Billion
CAGR CAGR of 7% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

 

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

9.1 Batteries

9.2 Glass

9.3 Grease

9.4 Air Conditioning Equipment

 

10. Global Lithium Mining Market segment, By Type

10.1 Chloride

10.2 Lithium hydroxide

10.3 Carbonate

10.4 Concentrate

 

11. Global Lithium Mining Market segment, By Source

11.1 Brine

11.2 Hard rock.

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2    Canada

12.2.3    Mexico

12.3 Europe

12.3.1    Germany

12.3.2    UK

12.3.3    France

12.3.4    Italy

12.3.5    Spain

12.3.6    The Netherlands

12.3.7    Rest of Europe

12.4 Asia-Pacific

12.4.1    Japan

12.4.2    South Korea

12.4.3    China

12.4.4    India

12.4.5    Australia

12.4.6    Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1    Israel

12.5.2    UAE

12.5.3    South Africa

12.5.4    Rest

12.6 Latin America

12.6.1    Brazil

12.6.2    Argentina

12.6.3    Rest of Latin America

 

13. Company Profiles

13.1 Jiangxi Ganfeng Lithium Albemarle,

13.1.1 Financial

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

 

15. Conclusion

 

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Secondary Research

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