Lithium Market

Lithium Market by Products (Carbonate, Hydroxide, and Others), Applications (Automotive, Grid Storage, Glass & Ceramic, and Others), End-users (Industrial Use, Consumer Electronics, Energy Storage, Medical, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028

  • Report ID: MC-4368
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 176
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The global lithium market was valued at USD 2.8 billion in 2020 and projected to expand at a robust CAGR of 14.6% from 2021 to 2028. Lithium is a soft, silvery white metallic element with the symbol Li, and an atomic number of 3. Lithium is an alkali metal and is the lightest solid element. Lithium is highly reactive and flammable and is present in ocean water, and is eventually obtained from brines. The main sources from where lithium can be extracted are brine reservoirs and rocks containing lithium like spodumene. The lithium market involves the application of the metal in various industries as it has several uses owing to the high chemical reactivity of lithium and the tendency to form bonds owing to its alkali nature. Lithium is used in industries for the process of metallurgy and also in the medical sector as a vital constituent of medicines.

Lithium Market key takeaways

Market Trends, Drivers, Restraints, and Opportunities:

  • The development of electric vehicles requires lithium-ion batteries which are mainly made of lithium. The high demand in the EV sector has driven the lithium market.
  • Stringent regulations for ICE automakers which have been imposed by public authorities to reduce carbon emissions from vehicles have resulted in high demand for lithium in the automotive sector.
  • The flammable nature of lithium is estimated to hamper the market growth.
  • Technological advancements and growth of the chemical and medical sector is expected to fuel the lithium market due to new uses of lithium in the medical, automotive, and industrial sectors.

Scope of the report:

The report on the global lithium market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Lithium Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Products (Carbonate, Hydroxide, and Others), Applications (Automotive, Grid Storage, Glass & Ceramic, and Others), End-users (Industrial Use, Consumer Electronics, Energy Storage, Medical, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered

Albemarle; SQM; Livent Corporation; Orocobre Ltd.; Ganfeng Lithium Co.; Ltd.; and Tianqi Lithium

 

Lithium Market Segment Insights:

The carbonate segment is projected to hold major market share

Based on products, the lithium market can be segregated into carbonate, hydroxide, and others. The carbonate segment is projected to hold major market share. Lithium carbonate is the most stable organic compound and thus is used in forming other compounds like lithium hydroxide and pure metal. Lithium carbonate has a variety of applications in the automotive, medical, and industrial segment. Lithium hydroxide is a white hygroscopic crystalline material and is an inorganic compound. The hydroxide segment is used in transportation and in the manufacturing of submarines and spacecraft.

Lithium Market  by products

The automotive segment is estimated to expand at a substantial CAGR

Based on applications, the lithium market can be segmented into automotive, grid storage, glass & ceramic, and others. The automotive segment is estimated to expand at a substantial CAGR during the forecast period owing to application of lithium in the batteries for electric vehicles. These batteries are used in single use, non-rechargeable remote controllers, and handheld games.

The medical segment is expected to grow at a rapid pace

Based on end-users, the lithium market can be categorized as industrial use, consumer electronics, energy storage, medical, and others. The medical segment is expected to grow at a rapid pace. The advancements in the medical sector have positively impacted the lithium market due to the application of lithium in medicines for bipolar disorder, anxiety, depression, and schizophrenia. Lithium helps increase the activity of the chemical messengers in the brain and other functions like development of the blood cells. In the industrial sector, lithium is used in metallurgy and the manufacture of batteries for cell phones, laptops, cameras, and electric vehicles as well. Lithium is used in glasses, ceramics, and alloys in the industrial segment.

Asia Pacific dominates the market

In terms of regions, the global lithium market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the market. The presence of developing glass and consumer industries in countries like China, India, South Korea, and Japan has impacted the lithium market in the region.

Lithium Market by regions

Segments

By Products
  • Carbonate
  • Hydroxide
  • Others
By Applications
  • Automotive
  • Grid Storage
  • Glass & Ceramic
  • Others
By End-users
  • Industrial Use
  • Consumer Electronics
  • Energy Storage
  • Medical
  • Others
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players

Competitive Landscape

The key players in the global lithium market include Albemarle; SQM; Livent Corporation; Orocobre Ltd.; Ganfeng Lithium Co.; Ltd.; and Tianqi Lithium. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and expand their market share globally.

Lithium Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Lithium Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Lithium Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Lithium Market - Supply Chain
  4.5. Global Lithium Market Forecast
     4.5.1. Lithium Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Lithium Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Lithium Market Absolute $ Opportunity
5. Global Lithium Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Lithium Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Lithium Demand Share Forecast, 2019-2026
6. North America Lithium Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Lithium Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Lithium Demand Share Forecast, 2019-2026
7. Latin America Lithium Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Lithium Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Lithium Demand Share Forecast, 2019-2026
8. Europe Lithium Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Lithium Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Lithium Demand Share Forecast, 2019-2026
9. Asia Pacific Lithium Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Lithium Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Lithium Demand Share Forecast, 2019-2026
10. Middle East & Africa Lithium Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Lithium Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Lithium Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Lithium Market: Market Share Analysis
  11.2. Lithium Distributors and Customers
  11.3. Lithium Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Albemarle
     11.4.2. SQM
     11.4.3. Livent Corporation
     11.4.4. Orocobre Ltd.
     11.4.5. Ganfeng Lithium Co.; Ltd.
     11.4.6. Tianqi Lithium
By Products
  • Carbonate
  • Hydroxide
  • Others
By Applications
  • Automotive
  • Grid Storage
  • Glass & Ceramic
  • Others
By End-users
  • Industrial Use
  • Consumer Electronics
  • Energy Storage
  • Medical
  • Others
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players

The key players in the global lithium market include Albemarle; SQM; Livent Corporation; Orocobre Ltd.; Ganfeng Lithium Co.; Ltd.; and Tianqi Lithium. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence and expand their market share globally.

Lithium Market by key players

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