Dublin, Feb. 11, 2025 (GLOBE NEWSWIRE) — The “Lithium – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Lithium was valued at US$9.2 Billion in 2024 and is projected to reach US$16.8 Billion by 2030, growing at a CAGR of 10.5% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Beyond batteries, lithium is also used in ceramics and glass production, where it improves the strength and thermal resistance of these materials. Lithium compounds are utilized in the pharmaceutical industry, particularly for the treatment of bipolar disorder, showcasing its versatility and importance across different sectors.
In recent years, the demand for lithium has surged, driven largely by the rapid expansion of the electric vehicle market and the growing need for renewable energy storage solutions. Lithium-ion batteries are central to these developments due to their efficiency and relatively low environmental impact compared to traditional fossil fuels.
Major lithium producers, including Australia, Chile, and China, have ramped up extraction and production efforts to meet this increasing demand. The extraction of lithium typically involves mining it from spodumene ores or extracting it from lithium-rich brine pools found in salt flats. Despite the growing demand, the supply chain faces challenges such as the environmental impact of mining operations and the geopolitical tensions surrounding major lithium-producing regions. These factors underscore the need for sustainable and diversified sources of lithium to ensure a stable supply.
The growth in the lithium market is driven by several factors, including technological advancements, increased adoption of electric vehicles, and the expansion of renewable energy projects. Advances in battery technology, such as improvements in energy density and charging times, have made lithium-ion batteries more attractive for a wider range of applications, spurring demand. The global push towards reducing carbon emissions has led to significant government incentives and policies promoting the use of electric vehicles, further bolstering the need for lithium.
Additionally, the rise of renewable energy sources like solar and wind power necessitates efficient energy storage solutions to manage intermittent energy supply, driving the demand for lithium-based batteries. Consumer behavior is also shifting towards more sustainable and environmentally friendly products, contributing to the growth of the lithium market. Furthermore, ongoing research into recycling and recovering lithium from used batteries aims to create a more circular economy, enhancing the sustainability and availability of this critical resource.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Albemarle Corporation, Allkem Limited, American Lithium Corp., Avalon Advanced Materials Inc., Ganfeng Lithium Group Co. Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Lithium Carbonates segment, which is expected to reach US$8.5 Billion by 2030 with a CAGR of a 11.1%. The Lithium Hydroxide segment is also set to grow at 10.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $934.4 Million in 2024, and China, forecasted to grow at an impressive 12.5% CAGR to reach $4.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Segments:
- Product (Carbonates, Hydroxide, Other Products)
- Application (Automotive, Glass & Ceramics, Consumer Electronics, Other Applications)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 514 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $9.2 Billion |
| Forecasted Market Value (USD) by 2030 | $16.8 Billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Global Economic Update
- Competitive Landscape
- Lithium – Global Key Competitors Percentage Market Share in 2024 (E)
- Global Market Prospects and Outlook
- Global Lithium Market on Energetic Growth Spree with Rampant Demand
- Carbonate & Battery: Thriving Segments Powering Growth of Lithium Market
- Battery Captures Attention as Primary Application Segment
- Asia-Pacific Enjoys the Gold Mine Status in Global Lithium Market
- Rising Significance of US in the Global Lithium Market
- Specter of Environmental Probe & Sweeping Closures in China Hangs in Air for Lithium Supply
- Shortage in Lithium Supply Likely
- Not Too Late for Sorry: Players Push Pedal on Lithium Supply to Cut Reliance on China
- North America to Take Lead in Non-Chinese Supply
- Emergence of Other Players
- Europe: Encouraging Moves despite Speed-Breakers
- Cathode Material: Sustainability as Weapon to Compete with China
- DLP, DLE- Potential Technologies for Lithium Supply
- Worldwide Reserves and Resources of Lithium
- Global Distribution of Lithium Reserves
- Biggest Lithium Reserves around the World
- Salt Lake Brine Deposits Vs Hard Rock Mineral Deposits
- A Glance at Major Lithium Resource Projects Worldwide
- Top Trends to Impact Lithium in the Year 2024
- Demand and Supply Forecasts of Lithium in 2024
- Grand Supply Plans’ Inadequacy is the Next Biggest Risk for Lithium
- Advancing toward Balance
- Technology Trending
- Recent Market Activity
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Indispensability of Batteries for Life in the 21st Century Increases Lithium Demand
- Growing Demand for Lithium Ion Batteries & Why is Lithium at the Core of the Global Sustainability Efforts?
- Why is Lithium a Vital Weapon in the Battle to Reduce Climate Change?
- Rising Demand for EVs Drives Lithium Market
- Lithium-ion Battery Technology is at the Heart of EVs
- Regional Analysis of Production of EV Batteries
- EV Batteries Recycling, Second-Hand Electric Cars- Potential Alternative Solutions to Meet Lithium Demand
- Fears Over Lithium Supply Shortages Juxtaposed With Robust Demand Projections Spurs Funding for Lithium Mining, Fueling Frenzied Expansion of Mining Activities
- Use of New Technologies for Lithium Mining & Processing to Expand Production Volumes
- New Lithium Extraction Technologies & Their Recovery Effectiveness
- Lithium Mining & Battery Production Gets Funding Boost
- Here’s How Lithium-Ion Impacts the Environment, Throwing the Spotlight On Lithium Green
- The Rise & Proliferation of Lithium Battery Technology Drives Demand for Lithium
- Growing Demand for Lithium-Ion Battery Technology in Energy Storage Bodes Well for Growth in the Market
- Increasing Demand for Lithium-ion as the Battery Technology of Choice in Utility Grids Spurs Lithium Demand
- Growing Market for Consumer Electronics Drives the Demand for Lithium
FOCUS ON SELECT PLAYERS:Some of the 135 major companies featured in this report
- Albemarle Corporation
- Allkem Limited
- American Lithium Corp.
- Avalon Advanced Materials Inc.
- Ganfeng Lithium Group Co. Ltd.
- Lithium Americas Corporation
- Lithium Australia Ltd.
- Livent Corp.
- Morella Corporation Limited
- Nemaska Lithium, Inc.
- Neometals Ltd.
- Pilbara Minerals Ltd.
- Sayona Mining Ltd.
- Sociedad Quimica y Minera de Chile S.A
- Tianqi Lithium Industry Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5cs6gb
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