The global Lithium market size is expected to be worth around US$ 10.2 billion by 2030, according to a new report by Vision Research Reports.
The global Lithium market size was valued at US$ 5.7 billion in 2020 and is anticipated to grow at a CAGR of 15.8% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 10.2 Billion by 2030 |
| Growth Rate | CAGR of 15.8% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Albemarle Corporation; Ganfeng Lithium Co., Ltd.; SQM S.A.; Tianqi Lithium Corporation; Livent Corporation; Lithium Americas Corp; Pilbara Minerals; Orocobre Limited Pty Ltd; Mineral Resources |
Growth Factors
Rising investments in lithium mining and related technologies are projected to remain a key trend for the market. Lithium mining is witnessing rapid growth as its demand is accelerating owing to its application in batteries. The element is found in dry places that require thousands of liters of water for its mining. Considering the rising demand for elements and increasing usage of water required for its extraction, R&D is in place to find better alternative methods. For instance, in February 2020, funding of around USD 20 million by Bill Gates was provided to Lilac Solutions, a lithium mining technology firm located in the U.S. The investment was announced in February 2020. According to the firm, its ion exchange technology is two times more efficient compared to the current mining process and requires a fraction of time.
By Product Analysis
The carbonate product segment dominated the market and accounted for the largest share of over 58.0% in 2020, in terms of volume. Lithium carbonate (Li2CO3) is the most stable inorganic compound and is used in forming other compounds, such as Lithium Hydroxide (LiOH) and even pure metal.
LiOH is a white hygroscopic crystalline material and an inorganic compound mostly used by lithium-ion battery manufacturers; it is commercially available as anhydrous and monohydrate. It has usage in transportation applications in the manufacturing of submarines and spacecraft. Many automotive players are inclined to adopt LiOH for battery manufacturing, which is expected to benefit market growth positively.
By Application Analysis
The consumer goods segment dominated the market and accounted for the largest revenue share of 13.9% in 2020. The segment is projected to grow owing to increasing sales of electronic devices, such as mobile phones, laptops, cameras, portable radios, speakers, and mp3 players, which make use of lithium batteries.
Single-use, non-rechargeable lithium batteries are found in remote controllers, handheld games, cameras, and smoke detectors. Rechargeable lithium-polymer cells are used in cell phones, laptops, toys, digital cameras, small and large appliances, tablets e-readers, and power tools.
The developed countries worldwide are investing increasingly in the deployment of energy storage systems based on lithium-ion batteries; thus, fueling the growth of the lithium market.
By Regional Analysis
Asia Pacific dominated the market and held the largest volume share of 57.3% in 2020 owing to the rapidly developing automotive, glass, and consumer goods industries in countries such as China, Japan, South Korea, and India.
Europe accounted for the second-largest share of the market in 2020 and is projected to witness a volume-based CAGR of 7.8% from 2021 to 2030. The growth of the market in Europe can be attributed to the increasing production of EVs in the region.
Key PlayerS
- Albemarle Corporation
- Ganfeng Lithium Co., Ltd.
- SQM S.A.
- Tianqi Lithium Corporation
- Livent Corporation
- Lithium Americas Corp
- Pilbara Minerals
- Orocobre Limited Pty Ltd
- Mineral Resources
Market Segmentation
- By Product
- Carbonates
- Hydroxide
- Others
- By Application
- Automotive
- Consumer electronics
- Grid storage
- Glass & ceramics
- Others
- Regional
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Asia Pacific
- China
- Japan
- South Korea
- Central & South America
- MEA
- North America
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Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Lithium Market, By Product
7.1. Lithium Market, by Product, 2021-2030
7.1.1. Carbonates
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Hydroxide
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Others
7.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Lithium Market, By Application
8.1. Lithium Market, by Application, 2021-2030
8.1.1. Automotive
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Consumer electronics
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Grid storage
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Glass & ceramics
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Lithium Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. Albemarle Corporation
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Ganfeng Lithium Co., Ltd.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. SQM S.A.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Tianqi Lithium Corporation
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Livent Corporation
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Lithium Americas Corp
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Pilbara Minerals
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Orocobre Limited Pty Ltd
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Mineral Resources
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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