Lithium Market Opportunities 2031
MARKET OVERVIEW
Lithium is the lightest metal and has the lowest solid density. It is highly reactive and explosive. Thus, it is typically stored in mineral oil. Lithium is widely used in batteries for portable electronics and electric vehicles, as well as in the ceramics and glass industry. The Lithium demand has been growing rapidly due to the growing popularity of electric vehicles and the growth of renewable energy storage solutions. The lithium market is expected to continue growing as the demand for lithium-ion batteries is projected to increase in the coming years. The major players in the lithium market are lithium mining companies, producers, and lithium-ion battery manufacturers.
MARKET DYNAMICS
The lithium market is anticipated to grow in the forecast period owing to increasing demands from the energy sector. Growth of the battery-based transportation coupled with the rising popularity of smart grids further fuels the lithium market growth. However, rigidity in the value chain affects the price of lithium, which hampers the growth of the lithium market. On the other hand, viable production of lithium from rock deposits is likely to showcase growth opportunities for the lithium market.
MARKET SCOPE
The "Global Lithium Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on global market trend analysis. The report aims to provide an overview of the lithium market with detailed market segmentation by type, application, end-use industry, and geography. The global lithium market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading lithium market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global lithium market is segmented on the basis of type, application and end-use industry. Based on type, the market is segmented as metal, compound, and alloy. On the basis of the application, the market is segmented as the battery, air treatment, glass and ceramics, metallurgy and others. The market, on the basis of the end-user industry, is classified as industrial, consumer electronics, electric vehicle, medical and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global lithium market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The lithium market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the lithium market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social, and technological factors affecting the lithium market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global lithium market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The lithium market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the lithium market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social, and technological factors affecting the lithium market in these regions.
MARKET PLAYERS
The reports cover key developments in the lithium market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market payers from the lithium market are anticipated to have lucrative growth opportunities in the future with the rising demand for lithium in the global market. Below mentioned is the list of few companies engaged in the lithium market.
The report also includes the profiles of key lithium companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, key developments in the past five years.
- Albemarle Corporation
- Altura Mining
- Avalon Advanced Materials Inc.
- Galaxy Resources Limited
- Jiangxi Ganfeng Lithium Co., Ltd.
- Lithium Americas Corp.
- Nemaska Lithium Inc.
- Neometals Ltd
- Orocobre Limited
- Tianqi Lithium Corp
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Lithium Market - By Type
1.3.2 Lithium Market - By Application
1.3.3 Lithium Market - By End-Use Industry
1.3.4 Lithium Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. LITHIUM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. LITHIUM MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. LITHIUM MARKET - GLOBAL MARKET ANALYSIS
6.1. LITHIUM - GLOBAL MARKET OVERVIEW
6.2. LITHIUM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LITHIUM MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. METAL
7.3.1. Overview
7.3.2. Metal Market Forecast and Analysis
7.4. COMPOUND
7.4.1. Overview
7.4.2. Compound Market Forecast and Analysis
7.5. ALLOY
7.5.1. Overview
7.5.2. Alloy Market Forecast and Analysis
8. LITHIUM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BATTERY
8.3.1. Overview
8.3.2. Battery Market Forecast and Analysis
8.4. AIR TREATMENT
8.4.1. Overview
8.4.2. Air Treatment Market Forecast and Analysis
8.5. GLASS AND CERAMICS
8.5.1. Overview
8.5.2. Glass and Ceramics Market Forecast and Analysis
8.6. METALLURGY
8.6.1. Overview
8.6.2. Metallurgy Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. LITHIUM MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
9.1. OVERVIEW
9.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
9.3. INDUSTRIAL
9.3.1. Overview
9.3.2. Industrial Market Forecast and Analysis
9.4. CONSUMER ELECTRONICS
9.4.1. Overview
9.4.2. Consumer Electronics Market Forecast and Analysis
9.5. ELECTRIC VEHICLE
9.5.1. Overview
9.5.2. Electric Vehicle Market Forecast and Analysis
9.6. MEDICAL
9.6.1. Overview
9.6.2. Medical Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. LITHIUM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Lithium Market Overview
10.1.2 North America Lithium Market Forecasts and Analysis
10.1.3 North America Lithium Market Forecasts and Analysis - By Type
10.1.4 North America Lithium Market Forecasts and Analysis - By Application
10.1.5 North America Lithium Market Forecasts and Analysis - By End-Use Industry
10.1.6 North America Lithium Market Forecasts and Analysis - By Countries
10.1.6.1 United States Lithium Market
10.1.6.1.1 United States Lithium Market by Type
10.1.6.1.2 United States Lithium Market by Application
10.1.6.1.3 United States Lithium Market by End-Use Industry
10.1.6.2 Canada Lithium Market
10.1.6.2.1 Canada Lithium Market by Type
10.1.6.2.2 Canada Lithium Market by Application
10.1.6.2.3 Canada Lithium Market by End-Use Industry
10.1.6.3 Mexico Lithium Market
10.1.6.3.1 Mexico Lithium Market by Type
10.1.6.3.2 Mexico Lithium Market by Application
10.1.6.3.3 Mexico Lithium Market by End-Use Industry
10.2. EUROPE
10.2.1 Europe Lithium Market Overview
10.2.2 Europe Lithium Market Forecasts and Analysis
10.2.3 Europe Lithium Market Forecasts and Analysis - By Type
10.2.4 Europe Lithium Market Forecasts and Analysis - By Application
10.2.5 Europe Lithium Market Forecasts and Analysis - By End-Use Industry
10.2.6 Europe Lithium Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Lithium Market
10.2.6.1.1 Germany Lithium Market by Type
10.2.6.1.2 Germany Lithium Market by Application
10.2.6.1.3 Germany Lithium Market by End-Use Industry
10.2.6.2 France Lithium Market
10.2.6.2.1 France Lithium Market by Type
10.2.6.2.2 France Lithium Market by Application
10.2.6.2.3 France Lithium Market by End-Use Industry
10.2.6.3 Italy Lithium Market
10.2.6.3.1 Italy Lithium Market by Type
10.2.6.3.2 Italy Lithium Market by Application
10.2.6.3.3 Italy Lithium Market by End-Use Industry
10.2.6.4 United Kingdom Lithium Market
10.2.6.4.1 United Kingdom Lithium Market by Type
10.2.6.4.2 United Kingdom Lithium Market by Application
10.2.6.4.3 United Kingdom Lithium Market by End-Use Industry
10.2.6.5 Russia Lithium Market
10.2.6.5.1 Russia Lithium Market by Type
10.2.6.5.2 Russia Lithium Market by Application
10.2.6.5.3 Russia Lithium Market by End-Use Industry
10.2.6.6 Rest of Europe Lithium Market
10.2.6.6.1 Rest of Europe Lithium Market by Type
10.2.6.6.2 Rest of Europe Lithium Market by Application
10.2.6.6.3 Rest of Europe Lithium Market by End-Use Industry
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Lithium Market Overview
10.3.2 Asia-Pacific Lithium Market Forecasts and Analysis
10.3.3 Asia-Pacific Lithium Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Lithium Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Lithium Market Forecasts and Analysis - By End-Use Industry
10.3.6 Asia-Pacific Lithium Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Lithium Market
10.3.6.1.1 Australia Lithium Market by Type
10.3.6.1.2 Australia Lithium Market by Application
10.3.6.1.3 Australia Lithium Market by End-Use Industry
10.3.6.2 China Lithium Market
10.3.6.2.1 China Lithium Market by Type
10.3.6.2.2 China Lithium Market by Application
10.3.6.2.3 China Lithium Market by End-Use Industry
10.3.6.3 India Lithium Market
10.3.6.3.1 India Lithium Market by Type
10.3.6.3.2 India Lithium Market by Application
10.3.6.3.3 India Lithium Market by End-Use Industry
10.3.6.4 Japan Lithium Market
10.3.6.4.1 Japan Lithium Market by Type
10.3.6.4.2 Japan Lithium Market by Application
10.3.6.4.3 Japan Lithium Market by End-Use Industry
10.3.6.5 South Korea Lithium Market
10.3.6.5.1 South Korea Lithium Market by Type
10.3.6.5.2 South Korea Lithium Market by Application
10.3.6.5.3 South Korea Lithium Market by End-Use Industry
10.3.6.6 Rest of Asia-Pacific Lithium Market
10.3.6.6.1 Rest of Asia-Pacific Lithium Market by Type
10.3.6.6.2 Rest of Asia-Pacific Lithium Market by Application
10.3.6.6.3 Rest of Asia-Pacific Lithium Market by End-Use Industry
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Lithium Market Overview
10.4.2 Middle East and Africa Lithium Market Forecasts and Analysis
10.4.3 Middle East and Africa Lithium Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Lithium Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Lithium Market Forecasts and Analysis - By End-Use Industry
10.4.6 Middle East and Africa Lithium Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Lithium Market
10.4.6.1.1 South Africa Lithium Market by Type
10.4.6.1.2 South Africa Lithium Market by Application
10.4.6.1.3 South Africa Lithium Market by End-Use Industry
10.4.6.2 Saudi Arabia Lithium Market
10.4.6.2.1 Saudi Arabia Lithium Market by Type
10.4.6.2.2 Saudi Arabia Lithium Market by Application
10.4.6.2.3 Saudi Arabia Lithium Market by End-Use Industry
10.4.6.3 U.A.E Lithium Market
10.4.6.3.1 U.A.E Lithium Market by Type
10.4.6.3.2 U.A.E Lithium Market by Application
10.4.6.3.3 U.A.E Lithium Market by End-Use Industry
10.4.6.4 Rest of Middle East and Africa Lithium Market
10.4.6.4.1 Rest of Middle East and Africa Lithium Market by Type
10.4.6.4.2 Rest of Middle East and Africa Lithium Market by Application
10.4.6.4.3 Rest of Middle East and Africa Lithium Market by End-Use Industry
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Lithium Market Overview
10.5.2 South and Central America Lithium Market Forecasts and Analysis
10.5.3 South and Central America Lithium Market Forecasts and Analysis - By Type
10.5.4 South and Central America Lithium Market Forecasts and Analysis - By Application
10.5.5 South and Central America Lithium Market Forecasts and Analysis - By End-Use Industry
10.5.6 South and Central America Lithium Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Lithium Market
10.5.6.1.1 Brazil Lithium Market by Type
10.5.6.1.2 Brazil Lithium Market by Application
10.5.6.1.3 Brazil Lithium Market by End-Use Industry
10.5.6.2 Argentina Lithium Market
10.5.6.2.1 Argentina Lithium Market by Type
10.5.6.2.2 Argentina Lithium Market by Application
10.5.6.2.3 Argentina Lithium Market by End-Use Industry
10.5.6.3 Rest of South and Central America Lithium Market
10.5.6.3.1 Rest of South and Central America Lithium Market by Type
10.5.6.3.2 Rest of South and Central America Lithium Market by Application
10.5.6.3.3 Rest of South and Central America Lithium Market by End-Use Industry
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. LITHIUM MARKET, KEY COMPANY PROFILES
12.1. ALBEMARLE CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. ALTURA MINING
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. AVALON ADVANCED MATERIALS INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. GALAXY RESOURCES LIMITED
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. JIANGXI GANFENG LITHIUM CO.,LTD.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. LITHIUM AMERICAS CORP.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. NEMASKA LITHIUM INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. NEOMETALS LTD
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. OROCOBRE LIMITED
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. TIANQI LITHIUM CORP
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
- Albemarle Corporation
- Altura Mining
- Avalon Advanced Materials Inc.
- Galaxy Resources Limited
- Jiangxi Ganfeng Lithium Co., Ltd.
- Lithium Americas Corp.
- Nemaska Lithium Inc.
- Neometals Ltd
- Orocobre Limited
- Tianqi Lithium Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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