Global Lithium Market: Information by Product Type (Lithium Hydroxide, Lithium Carbonate, Lithium Chloride, Butyllithium, Lithium Metal and others), Application (Energy Storage, Greases, Frits, Glasses and Ceramics, Air Treatment, Adhesives and others) and Region (North America, Europe, Latin America, Asia-Pacific and Middle East & Africa) - Forecast till 2027
ID: MRFR/CnM/6558-HCR | February 2021 | Region: Global | 140 pages
Market Overview
Lithium is a low-density metal used in both inorganic and organic reactants. Lithium is majorly found in compound form along with other minerals mostly in brine pools and igneous rock. Lithium, due to its high energy density property, can store a large amount of energy in limited and controlled spaces. Lithium is predominantly used in greases, air treatment, glasses, ceramics, and lubricants. For instance, the major applications of lithium include ceramics, fire-viewing windows for fireplaces, lithium soaps, lubricating greases, air-conditioners, and batteries. The lithium industry is expected to grow significantly owing to the increasing use of batteries across various storage units such as smartphones, portable electronic devices, and electric vehicles.
According to MRFR analysis, the global lithium market is estimated to reach over USD 8.37 billion by the end of 2024 at a robust CAGR of over 10.6%. The growth of the global lithium market is projected to be primarily driven by the application of lithium in electric vehicles including plug-in hybrid electric vehicles (PHEVs), pure battery electric vehicles (BEVs), and hybrid electric vehicles (HEVs). The high and low energy density features of lithium allow its application in electric vehicles. The growth of the market is also driven by the rising demand for lithium in air treatment and air conditioning systems which employ lithium bromide as a source for absorption chillers in air conditioning. The functioning of lithium in dehumidification, air regeneration, and cooling across various infrastructures such as hospitals, shopping malls, corporate offices, and other institutional facilities is expected to further propel the growth of the market during the forecast period. The growing application of lithium in submarines and aircraft is expected to further boost the lithium market growth during the forecast period.
Furthermore, the major environmental concerns are expected to drive the demand for electric vehicles (EVs), which help to reduce carbon emission levels and carbon footprints. The growing adoption of electric vehicles (EVs) is driven by the rising concerns for the environment, as these vehicles help reduce carbon emission levels. Stringent norms and regulations regarding emission, reduction, and control of carbon footprints are expected to augment the growth for lithium market during the forecast period. The growing awareness regarding greenhouse effects is further expected to replace traditional vehicles with more electric vehicles. The lithium batteries used in vehicles for energy storage are either disposable or rechargeable. The disposable lithium batteries have a metallic form with high charge density, thus providing a longer life as compared to standard batteries.
Key Players
Some of the key players operating in the global lithium market are Albemarle Corporation (US), SQM S.A. (Chile), Livent (US), Altura Mining (Australia), Orocobre Limited Pty Ltd (Australia), Jiangxi Ganfeng Lithium Co. Ltd (China), Tianqi Lithium Industries Inc. (China), Critical Elements Corporation (Canada), Lithium Americas Corp. (Canada), and Sayona Mining Limited (Australia).
Global Lithium Market Share, By Application, 2018 (%)
Source: MRFR Analysis
Regional Analysis
The global lithium market report has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Based on market value share, Europe is estimated to hold over 30% of the global lithium market share and is expected to continue the dominance throughout the forecast period owing to the growth in manufacturing of electric vehicles. Also, major countries in Europe such as Norway, Sweden, Belgium, and Iceland together are expected to account over one-third share of the regional market. Asia-Pacific is expected to exhibit the highest CAGR during the forecast period, due to the growing demand for battery-powered vehicles across China and South-East Asian countries. For instance, the Chinese government has strategized to adopt 20% of electric vehicles by 2020. Additionally, Tianqi Lithium Corporation and Albemarle Corporation have collaborated to increase the production of lithium from the Greenbushes spodumene mine of Australia. In North America, the increase in demand for lithium in pharmaceuticals and agricultural chemicals is expected to boost the demand for lithium in the region. The application of fermentation chemicals in adhesives and greases processes coupled to its application in the construction sector is expected to propel the demand for lithium in the Middle East & Africa during the forecast period.
Segmentation
The global lithium market has been segmented based on product type, application, and region.
On the basis of product type, the global lithium market report has been categorized into lithium hydroxide, lithium carbonate, lithium chloride, butyllithium, lithium metal, and others.
By application, the global lithium market has been divided into energy storage, greases, frits, glasses and ceramics, air treatment, adhesives, and others.
The global lithium market report, by region, has been segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Target Audience
- Lithium manufacturers
- Raw material suppliers
- Distributors and suppliers of lithium
- Potential investors
- Research institutes
- Government bodies
Frequently Asked Questions (FAQ) :
Valuation of the global Lithium Market is estimated to reach USD 8.37 BN by the end of 2024
Valuation of the global Lithium Market had reached USD 3.62 BN in 2018.
Lithium Market is projected to expand at over 10.6% CAGR during the assessment period (2017-2024).
Energy storage is the largest application segment in the global Lithium Market.
Europe holds the largest share in the global Lithium Market, followed by the Asia Pacific and North America, respectively.
Sayona Mining Limited (Australia), SQM S.A. (Chile), Albemarle Corporation (US), Orocobre Limited Pty Ltd (Australia), Livent (US), Altura Mining (Australia), Critical Elements Corporation (Canada), Jiangxi Ganfeng Lithium Co. Ltd (China), Lithium Americas Corp (Canada), and Tianqi Lithium Industries Inc. (China), are some of the major players operating in the Lithium Market.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics of Global Lithium Market
4.1 Introduction
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Challenges
4.6 Trends/Technology
5 Market Factor Analysis of Global Lithium Market
5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.2 Manufacturers/Producers
5.1.3 Distributors/Retailers/Wholesalers/E-Commerce
5.1.4 End User
5.2 Porter’s Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Bargaining Power of Buyers
5.2.3 Bargaining Power of Suppliers
5.2.4 Threat of Substitutes
5.2.5 Intensity of Competitive Rivalry
5.3 Pricing Analysis
6. Global Lithium Market, by Product Type
6.1 Introduction
6.2 Lithium Hydroxide
6.2.1 Market Estimates & Forecast, 2020−2027
6.2.2 Market Estimates & Forecast, by Region, 2020−2027
6.3 Lithium Carbonate
6.3.1 Market Estimates & Forecast, 2020−2027
6.3.2 Market Estimates & Forecast, by Region, 2020−2027
6.4 Lithium Chloride
6.4.1 Market Estimates & Forecast, 2020−2027
6.4.2 Market Estimates & Forecast, by Region, 2020−2027
6.5 Butiylilithium
6.5.1 Market Estimates & Forecast, 2020−2027
6.5.2 Market Estimates & Forecast, by Region, 2020−2027
6.6 Lithium Metal
6.6.1 Market Estimates & Forecast, 2020−2027
6.6.2 Market Estimates & Forecast, by Region, 2020−2027
6.7 Others
6.7.1 Market Estimates & Forecast, 2020−2027
6.7.2 Market Estimates & Forecast, by Region, 2020−2027
7. Global Lithium Market, by Application
7.1 Introduction
7.2 Energy Storage
7.2.1 Market Estimates & Forecast, 2020−2027
7.2.2 Market Estimates & Forecast, by Region, 2020−2027
7.3 Greases
7.3.1 Market Estimates & Forecast, 2020−2027
7.3.2 Market Estimates & Forecast, by Region, 2020−2027
7.4 Frits
7.4.1 Market Estimates & Forecast, 2020−2027
7.4.2 Market Estimates & Forecast, by Region, 2020−2027
7.5 Glasses and Ceramics
7.5.1 Market Estimates & Forecast, 2020−2027
7.5.2 Market Estimates & Forecast, by Region, 2020−2027
7.6 Air Treatment
7.6.1 Market Estimates & Forecast, 2020−2027
7.6.2 Market Estimates & Forecast, by Region, 2020−2027
7.7 Adhesives
7.7.1 Market Estimates & Forecast, 2020−2027
7.7.2 Market Estimates & Forecast, by Region, 2020−2027
7.7 Others
7.7.1 Market Estimates & Forecast, 2020−2027
7.7.2 Market Estimates & Forecast, by Region, 2020−2027
8. Global Lithium Market, by Region
8.1 Introduction
8.2 North America
8.2.1 Market Estimates & Forecast, 2020−2027
8.2.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.2.3 Market Estimates & Forecast, by Application, 2020−2027
8.2.4 US
8.2.4.1 Market Estimates & Forecast, 2020−2027
8.2.4.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.2.4.3 Market Estimates & Forecast, by Application, 2020−2027
8.2.5 Canada
8.2.5.1 Market Estimates & Forecast, 2020−2027
8.2.5.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.2.5.3 Market Estimates & Forecast, by Application, 2020−2027
8.3 Europe
8.3.1 Market Estimates & Forecast, 2020−2027
8.3.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.3.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.4 Germany
8.3.4.1 Market Estimates & Forecast, 2020−2027
8.3.4.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.3.4.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.5 France
8.3.5.1 Market Estimates & Forecast, 2020−2027
8.3.5.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.3.5.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.6 Italy
8.3.6.1 Market Estimates & Forecast, 2020−2027
8.3.6.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.3.6.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.7 Spain
8.3.7.1 Market Estimates & Forecast, 2020−2027
8.3.7.2 Market Estimates & Forecast, by Product Type,2020−2027
8.3.7.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.8 UK
8.3.8.1 Market Estimates & Forecast, 2020−2027
8.3.8.2 Market Estimates & Forecast, by Product Type,2020−2027
8.3.8.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.9 Russia
8.3.9.1 Market Estimates & Forecast, 2020−2027
8.3.9.2 Market Estimates & Forecast, by Product Type,2020−2027
8.3.9.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.10 Poland
8.3.10.1 Market Estimates & Forecast, 2020−2027
8.3.10.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.3.10.3 Market Estimates & Forecast, by Application, 2020−2027
8.3.11 Rest of Europe
8.3.11.1 Market Estimates & Forecast, 2020−2027
8.3.11.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.3.11.3 Market Estimates & Forecast, by Application, 2020−2027
8.4 Asia-Pacific
8.4.1 Market Estimates & Forecast, 2020−2027
8.4.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.4.3 Market Estimates & Forecast, by Application, 2020−2027
8.4.4 China
8.4.4.1 Market Estimates & Forecast, 2020−2027
8.4.4.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.4.4.3 Market Estimates & Forecast, by Application, 2020−2027
8.4.5 India
8.4.5.1 Market Estimates & Forecast, 2020−2027
8.4.5.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.4.5.3 Market Estimates & Forecast, by Application, 2020−2027
8.4.6 Japan
8.4.6.1 Market Estimates & Forecast, 2020−2027
8.4.6.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.4.6.3 Market Estimates & Forecast, by Application, 2020−2027
8.4.7 Australia & New Zealand
8.4.7.1 Market Estimates & Forecast, 2020−2027
8.4.7.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.4.7.3 Market Estimates & Forecast, by Application, 2020−2027
8.4.8 Rest of Asia-Pacific
8.4.8.1 Market Estimates & Forecast, 2020−2027
8.4.8.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.4.8.3 Market Estimates & Forecast, by Application, 2020−2027
8.5 Middle East & Africa
8.5.1 Market Estimates & Forecast, 2020−2027
8.5.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.5.3 Market Estimates & Forecast, by Application, 2020−2027
8.5.4 GCC
8.5.4.1 Market Estimates & Forecast, 2020−2027
8.5.4.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.5.4.3 Market Estimates & Forecast, by Application, 2020−2027
8.5.5 Israel
8.5.5.1 Market Estimates & Forecast, 2020−2027
8.5.5.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.5.5.3 Market Estimates & Forecast, by Application, 2020−2027
8.5.6 North Africa
8.5.6.1 Market Estimates & Forecast, 2020−2027
8.5.6.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.5.6.3 Market Estimates & Forecast, by Application, 2020−2027
8.5.7 Turkey
8.5.7.1 Market Estimates & Forecast, 2020−2027
8.5.7.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.5.7.3 Market Estimates & Forecast, by Application, 2020−2027
8.5.8 Rest of Middle East & Africa
8.5.8.1 Market Estimates & Forecast, 2020−2027
8.5.8.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.5.8.3 Market Estimates & Forecast, by Application, 2020−2027
8.6 Latin America
8.6.1 Market Estimates & Forecast, 2020−2027
8.6.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.6.3 Market Estimates & Forecast, by Application, 2020−2027
8.6.4 Brazil
8.6.4.1 Market Estimates & Forecast, 2020−2027
8.6.4.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.6.4.3 Market Estimates & Forecast, by Application, 2020−2027
8.6.5 Argentina
8.6.5.1 Market Estimates & Forecast, 2020−2027
8.6.5.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.6.5.3 Market Estimates & Forecast, by Application, 2020−2027
8.6.6 Mexico
8.6.6.1 Market Estimates & Forecast, 2020−2027
8.6.6.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.6.6.3 Market Estimates & Forecast, by Application, 2020−2027
8.6.7 Rest of Latin America
8.6.7.1 Market Estimates & Forecast, 2020−2027
8.6.7.2 Market Estimates & Forecast, by Product Type, 2020−2027
8.6.7.3 Market Estimates & Forecast, by Application, 2020−2027
9. Company Landscape
9.1 Introduction
9.2 Market Strategy
9.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)
10. Company Profiles
10.1 Albemarle Corporation
10.1.1 Company Overview
10.1.2 Financial Updates
10.1.3 Product/Business Segment Overview
10.1.4 Strategy
10.1.5 Key Developments
10.1.6 SWOT Analysis
10.2 SQM S.A.
10.2.1 Company Overview
10.2.2 Financial Updates
10.2.3 Product/Business Segment Overview
10.2.4 Strategy
10.2.5 Key Developments
10.2.6 SWOT Analysis
10.3 Livent
10.3.1 Company Overview
10.3.2 Financial Updates
10.3.3 Product/Business Segment Overview
10.3.4 Strategy
10.3.5 Key Developments
10.3.6 SWOT Analysis
10.4 Altura Mining
10.4.1 Company Overview
10.4.2 Financial Updates
10.4.3 Product/Business Segment Overview
10.4.4 Strategy
10.4.5 Key Developments
10.4.6 SWOT Analysis
10.5 Orocobre Limited Pty Ltd
10.5.1 Company Overview
10.5.2 Financial Updates
10.5.3 Product/Business Segment Overview
10.5.4 Strategy
10.5.5 Key Developments
10.5.6 SWOT Analysis
10.6 Jiangxi Ganfeng Lithium Co. Ltd
10.6.1 Company Overview
10.6.2 Financial Updates
10.6.3 Product/Business Segment Overview
10.6.4 Strategy
10.6.5 Key Developments
10.6.6 SWOT Analysis
10.7 Tianqi Lithium Industries Inc.
10.7.1 Company Overview
10.7.2 Financial Updates
10.7.3 Product/Business Segment Overview
10.7.4 Strategy
10.7.5 Key Developments
10.7.6 SWOT Analysis
10.8 Critical Elements Corporation
10.8.1 Company Overview
10.8.2 Financial Updates
10.8.3 Product/Business Segment Overview
10.8.4 Strategy
10.8.5 Key Developments
10.8.6 SWOT Analysis
10.9 Lithium Americas Corp.
10.9.1 Company Overview
10.9.2 Financial Updates
10.9.3 Product/Business Segment Overview
10.9.4 Strategy
10.9.5 Key Developments
10.9.6 SWOT Analysis
10.10 Sayona Mining Limited
10.10.1 Company Overview
10.10.2 Financial Updates
10.10.3 Product/Business Segment Overview
10.10.4 Strategy
10.10.5 Key Developments
10.10.6 SWOT Analysis
11. Conclusion
LIST OF TABLES
Table 1 Global Lithium Market: by Region, 2020−2027
Table 2 North America: Lithium Market, by Country, 2020−2027
Table 3 Europe: Lithium Market, by Country, 2020−2027
Table 4 Asia-Pacific: Lithium Market. by Country, 2020−2027
Table 5 Middle East & Africa: Lithium Market, by Country, 2020−2027
Table 6 Latin America: Lithium Market, by Country, 2020−2027
Table 7 Global Lithium Product Type Market, by Regions, 2020−2027
Table 8 North America: Lithium Product Type Market, by Country, 2020−2027
Table 9 Europe: Lithium Product Type Market, by Country, 2020−2027
Table10 Asia-Pacific: Lithium Product Type Market, by Country, 2020−2027
Table11 Middle East & Africa: Lithium Product Type Market, by Country, 2020−2027
Table12 Latin America: Lithium Product Type Market, by Country, 2020−2027
Table 13 Global Lithium Application Market, by Regions, 2020−2027
Table14 North America: Lithium Application Market, by Country, 2020−2027
Table15 Europe: Lithium Application Market, by Country, 2020−2027
Table16 Asia-Pacific: Lithium Application Market, by Country, 2020−2027
Table17 Middle East & Africa: Lithium Application Market, by Country, 2020−2027
Table18 Latin America: Lithium by Application Market, by Country, 2020-2027
Table19 Global Product Type Market, by Region, 2020−2027
Table20 Global Application Market, by Region, 2020−2027
Table21 North America: Lithium Market, by Country, 2020−2027
Table22 North America: Lithium Market, by Product Type, 2020−2027
Table23 North America: Lithium Market, by Application, 2020−2027
Table24 Europe: Lithium Market, by Country, 2020−2027
Table25 Europe: Lithium Market, by Product Type, 2020−2027
Table26 Europe: Lithium Market, by Application, 2020−2027
Table27 Asia-Pacific: Lithium Market, by Country, 2020−2027
Table28 Asia-Pacific: Lithium Market, by Product Type, 2020−2027
Table29 Asia-Pacific: Lithium Market, by Application, 2020−2027
Table30 Middle East & Africa: Lithium Market, by Country, 2020−2027
Table31 Middle East & Africa: Lithium Market, by Product Type, 2020−2027
Table32 Middle East & Africa: Lithium Market, by Application, 2020−2027
Table33 Latin America: Lithium Market, by Country, 2020−2027
Table34 Latin America: Lithium Market, by Product Type, 2020−2027
Table35 Latin America: Lithium Market, by Application, 2020−2027
LIST OF FIGURES
FIGURE 1 Global Lithium Market Segmentation
FIGURE 2 Forecast Research Methodology
FIGURE 3 Five Forces Analysis of Global Lithium Market
FIGURE 4 Value Chain of Global Lithium Market
FIGURE 5 Share of Global Lithium Market in 2020, by Country
FIGURE 6 Global Lithium Market, 2020−2027,
FIGURE 7 Global Lithium Market Size, by Product Type, 2020
FIGURE 8 Share of Global Lithium Market, by Product Type, 2020−2027
FIGURE 9 Global Lithium Market Size, by Application, 2020
FIGURE10 Share of Global Lithium Market, by Application, 2020−2027
