Global Lithium and Lithium Minerals Market for Non-Battery Application Overview
Lithium and Lithium Minerals Market for Non-Battery Application Size was valued at USD 2,709.7 million in 2022. The Lithium and Lithium Minerals Market for Non-Battery Application industry is projected to grow from USD 2,805.9 million in 2023 to USD 4,570.0 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.22% during the forecast period (2023 - 2030). The application of lithium and lithium minerals in various industrial segments such as lubricants, polymer & rubber and ceramics and glass will positively impact its market. The demand for a wide variety of ceramic and glass products having different colors, textures, and designs due to changing consumer preferences towards aesthetically appealing products will boost the market for lithium and lithium minerals. Furthermore, increasing product launches by industry players along with focusing on adopting innovative business development strategies such as acquisitions is anticipated to boost market expansion opportunities.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Lithium and Lithium Minerals Market for Non-Battery Application Trends
Increasing use of lithium in lubricant industry for enhancing the performance of lubricants will fuel the growth of Lithium and Lithium Minerals Market for Non-Battery Application.
Machines and equipment make up an important part of all the industries and thus the proper working of these machines is very necessary in order to obtain higher efficiency. The use of lithium in lubricant industry is very significant owing to its unique properties that helps in making high quality lubricants. The use of lithium-based greases is very common in industries such as automotive due to its mechanical stability, and water resistance. The use of lithium-based additives as corrosion inhibitors in lubricants helps in protecting the metals parts from corrosion and this factor is expected should escalate the demand for lithium from lubricant industry as the focus on maintenance of machines is rising in order to prevent the spending on machine repairs and replacements, thus making it very economical.
Lubricants are widely used in industrial sectors such as automotive, manufacturing, construction, and mining, among others and thus the lubricant market is very wide, creating growth opportunities for lithium and lithium minerals. The automobile industry is experiencing considerable growth as the industry players are taking efforts to develop products according to customer needs and this factor is likely to drive significant demand for lubricants owing to the presence of large number of moving parts in vehicles which needs lubrication in order to ensure its proper functioning. Also, the flourishing manufacturing sector will have a positive impact on the lubricant market as lubrication is very much needed for the machinery and equipment used for the production of products.
The water resistance property of lithium-based greases makes it suitable for the operations that are carries out in wet or humid conditions where the protection against moisture and water is needed and thus the demand for lithium-based lubricants is anticipated to propel from sectors such as marine industry. Lubricants also help in absorbing the heat releasing during the machine operation, thus preventing the overheating and are also effective in preventing the contamination of machine parts from dirt, and dust. The effectiveness of lubricants in protecting the machines from several damages will positively influence its market growth, in turn supporting the lithium demand from lubricant industry.
Lithium and Lithium Minerals Market for Non-Battery Application Segment Insights
Lithium and Lithium Minerals Market for Non-Battery Application by Type Insights
The Lithium and Lithium Minerals Market for Non-Battery Application segmentation, based on Type has been segmented as Lithium Carbonate, Lithium Hydroxide and Others. Among these, the Lithium Carbonate type is projected to dominate the Lithium and Lithium Minerals Market for Non-Battery Application revenue through the projected period. The addition of lithium carbonate improves the thermal and mechanical properties of the products owing to which its usage in the production of variety of glass and ceramic products is propelling. In addition, lithium carbonate is used in the production of lubricants and greases. It improves the lubricating properties of these substances, reduces friction and wear in various industrial applications. In addition, lithium carbonate is used in the synthesis of other lithium compounds and chemicals such as lithium hydroxide, lithium chloride, and lithium bromide, which have various industrial uses in areas such as ceramics, lubricants, and air conditioning systems.
Lithium and Lithium Minerals Market for Non-Battery Application by Application Insights
Based on Application, the Lithium and Lithium Minerals Market for Non-Battery Application is segmented as Ceramic and Glass, Lubricants, Polymer and Rubber and Others. Out of which the Ceramic and Glass segment dominated the base year market and is also projected to be holding a dominating share in the forecasted period as well. Lithium is used in glass melting processes at low temperatures, lowering the melting point of the glass, and improving its workability. It also enables the production of glass ceramics, which combines the advantages of glass and ceramics, offering durability, heat resistance and an aesthetic appearance. The rise in infrastructure development activities will favor the construction industry further escalating demand for high quality and wide variety of glass and ceramic products. Addition of lithium minerals helps in obtaining ceramic glazes of varied effects and colors by enhancing the crystal growth along with limiting the chances of defects. Lithium's unique properties make it an invaluable component in ceramics and glass, leading to the creation of innovative and highly effective products.
Lithium and Lithium Minerals Market for Non-Battery Application Regional Insights
By Region, the study segments the Lithium and Lithium Minerals Market for Non-Battery Application into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific Lithium and Lithium Minerals Market for Non-Battery Application holds the largest market share and is also anticipated to account for the largest revenue share during the forecast period. The Asia-Pacific region is home to many advanced manufacturing facilities and technological advancements. This facilitates the development and use of lithium compounds in innovative non-battery applications, including high-performance ceramics, specialty polymers and advanced lubricants. Overall, a combination of robust industrial sectors, economic growth, supportive government policies, technological advancements, and access to lithium resources contribute to the Asia Pacific region's leading market share in non-battery lithium applications.
The industrial sector is growing very rapidly in the Asia Pacific region owing to rising urbanization. Also, the presence of a large population and their changing preferences is making industry players to expand their businesses in the region, further creating demand for lithium and lithium minerals from sectors such as ceramic and glass. Lithium can significantly help in saving energy during the production of glass by decreasing their melting temperature. Moreover, lithium can enhance the attributes of glass products by improving its, chemical resistance, durability, and refractive index. Thus, the advantages offered by lithium makes lithium-based glass ideal for numerous applications in optical lenses, display panels, and specialty glass. The growing automotive, electronics, and construction industry in Asia Pacific region will augment the demand for lithium in the estimated timeframe.
Lithium and Lithium Minerals Market for Non-Battery Application Key Market Players & Competitive Insights
Market players are investing and focusing on R&D in order to increase their product lines, that will help the Lithium and Lithium Minerals Market for Non-Battery Application to grow significantly. Market participants are also adopting strategic initiatives to grow their business worldwide and to acquire a larger customer base. Competitors in the Lithium and Lithium Minerals Market for Non-Battery Application industry must provide cost-effective products to survive in the competitive and rising market environment.
The market for Lithium and Lithium Minerals Market for Non-Battery Application is as extremely competitive market. This competitive environment is likely to increase further due to growing technological advancements. Some of the key players operating in the Lithium and Lithium Minerals Market for Non-Battery Application are SQM SA, Albemarle Corporation, Livent, Nemaska Lithium, Allkem Limited, Lithium Americas Corp, Ganfeng Lithium Co., Ltd, Mineral Resources, and Tianqi Lithium Corporation. To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.
SQM SA SQM is a Chilean company that plays a major role in the global lithium and lithium minerals market. SQM is one of the world's largest lithium producers and has significant operations in Chile. SQM is a leading producer of lithium globally. The company extracts lithium from brine resources in the Salar de Atacama, which is one of the world's largest and highest-grade lithium reserves. SQM's lithium production includes lithium carbonate and lithium hydroxide, which are essential components in lithium-ion batteries. SQM has a strong global presence and serves customers in numerous countries. Its products are utilized in industries such as electric vehicles, energy storage, agriculture, pharmaceuticals, and more. SQM has a robust supply chain network and distribution channels to meet the demand for its products worldwide.
Albemarle Corporation is a global specialty chemicals company headquartered in Charlotte, North Carolina, United States. The company is known for manufacturing and marketing a wide range of chemicals and chemical products. Albemarle operates in a variety of industries, including lithium, bromine, refining catalysts and performance chemicals. One of Albemarle's core businesses is lithium, a key ingredient in the production of batteries for electric vehicles and energy storage systems. The company is one of the world's leading lithium producers and plays a significant role in supporting the growing demand for clean energy solutions.
Key Companies in the Lithium and Lithium Minerals Market for Non-Battery Application includes
- SQM SA (Chile)
- Albemarle Corporation (US)
- Livent (US)
- Nemaska Lithium (Canada)
- Allkem Limited (Argentina)
- Lithium Americas Corp (Canada)
- Ganfeng Lithium Co., Ltd (China)
- Mineral Resources (Australia)
- Tianqi Lithium Corporation (China).
Lithium and Lithium Minerals Market for Non-Battery Application Industry Developments
May 2023 SQM on track with Chile lithium output expansion. Chile’s main lithium producer, SQM, contributed over US$1bn to the treasury during the first quarter under the public-private alliance it has with development agency Corfo, according to its Q1 earnings release. SQM continues with plans to expand its lithium production to meet global demand, which it said is expected to grow at least 20% this year.
May 2023 Albemarle Corporation one of the global leader in providing essential elements for mobility, energy, connectivity and health, announced its decision to build two additional processing trains at the leading-edge Kemerton lithium hydroxide plant in Western Australia.
March 2023 Albemarle Corporation Announces New U.S. Lithium Mega-Flex Processing Facility in South Carolina. Albemarle Corporation announced plans to locate its previously announced lithium hydroxide Mega-Flex facility in Chester County, South Carolina. Plans for the facility include an initial investment of at least $1.3 billion to help meet the surging demand for domestic and international electric vehicles and lithium-ion batteries.
Lithium and Lithium Minerals Market for Non-Battery Application Segmentation
Lithium and Lithium Minerals Market for Non-Battery Application Type Outlook
- Lithium Carbonate
- Lithium Hydroxide
Lithium and Lithium Minerals Market for Non-Battery Application, Application Outlook
- Ceramic and Glass
- Polymer and Rubber
Lithium and Lithium Minerals Market for Non-Battery Application Regional Outlook
- North America
- Rest of Europe
- South Korea
- Australia & New Zealand
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
|Market Size 2022
||USD 2,709.7 million
|Market Size 2023
||USD 2,805.9 million
|Market Size 2030
||USD 4,570.0 million
|Compound Annual Growth Rate (CAGR)
||2019 & 2021
||Value (USD Million)
||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
||Type, Application and Region
||North America, Europe, Asia Pacific, Middle East & Africa and Latin America
||US, Canada, Germany, Russia, Italy, France, Spain, UK, China, Japan, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Brazil, Mexico, Argentina, Chile, Peru, Saudi Arabia, UAE, Egypt, Turkey, Qatar.
|Key Companies Profiled
||SQM SA (Chile), Albemarle Corporation (US), Livent (US), Nemaska Lithium (Canada), Allkem Limited (Argentina), Lithium Americas Corp (Canada), Ganfeng Lithium Co., Ltd (China), Mineral Resources (Australia), and Tianqi Lithium Corporation (China)
|Key Market Opportunities
||· Rising industrial growth will support the market of lithium and lithium minerals
|Key Market Dynamics
||· Increasing use of lithium in lubricant industry for enhancing the performance of lubricants
Frequently Asked Questions (FAQ) :
SQM SA (Chile), Albemarle Corporation (US), Livent (US), Nemaska Lithium (Canada), Allkem Limited (Argentina), Lithium Americas Corp (Canada), Ganfeng Lithium Co., Ltd (China), Mineral Resources (Australia), and Tianqi Lithium Corporation (China)
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