The global demand for Lithium Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022-2028. Whereas with regards to volume, the market was calculated XX Tons in 2021 and foreseen to touch XX Tons by 2028 with a CAGR of XX% during 2022-2028.
Lithium is a chemical element with Li as a symbol and atomic number 3. It's a low-density metal present in the earth's crust. It is used in medicine for treating mental illness, eating disorders, and blood disorders. Additionally, lithium is also used for headache, alcoholism, epilepsy, diabetes, liver disease, kidney disorders, arthritis, seborrhea, and overactive thyroid. In addition to this, it has found application across energy storage, air treatment, greases and lubricants, and glasses and ceramics.
The increasing demand for electric vehicles across the globe is driving market growth. Increasing usage and demand for portable consumer electronics such as batteries is again accelerating market growth. In addition to this, rising demand from the glass-making industry as fluxing additives is further fuelling the market growth. However, the demand-supply gap in the lithium market is likely to hamper the market growth. Whereas, growing adoption in smart grid electricity is expected to create potential demand over the forecast period.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of lithium.
The entire lithium market has been sub-categorized into type, traditional application, and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Traditional Application
- Aluminum Smelting & Alloy
- Air Treatment
- Glass & Ceramics
- Metallurgy (Iron & Steel Coatings)
- Consumer Electronics
- Electric Vehicle
- Energy Storage
This section covers regional segmentation which accentuates on current and future demand for lithium market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Lithium Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the lithium market include Albemarle Corporation, Altura Mining Limited, Avalon Advanced Materials Inc., Critical Elements Corporation, FMC Corporation (FMC Lithium), Galaxy Resources Limited, Jiangxi Ganfeng Lithium Co. Ltd, Lithium Americas, Nemaska Lithium, Neometals Ltd and Others. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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