Press Release

Global Lithium Market Drivers, Market Size, Challenges, Key Regions, Import/Export, & Forecast by 2024

Lithium

The report provides an overview of the “Lithium Market industry including definitions, division, key vendors, key Development and market challenges. The Lithium Market analysis is provided the international markets including development trends, competitive landscape analysis, and key regions development status

Through the statistical analysis, the report depicts the global Lithium Market including capacity, production, production value, cost/profit, supply/demand and import/export. The entire market is further distributed by company, by country, and by application/type for the competitive landscape analysis.

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The market for lithium is anticipated to register a CAGR of 10.10% during the forecast period (2019-2024). Key factors driving the market growth include the accelerating demand for electric vehicles, growing usage and demand from portable consumer electronics, increasing demand from the glass-making industry, and many others.

– The growing adoption of electric vehicles (EVs) is driven by the rising concerns for the environment, as these vehicles help reduce carbon emission levels. Governments across the world are implementing stringent emission norms, to control and reduce carbon emissions, thereby augmenting the growth of the market.
– SQM has been facing the threat of early termination of lease, due to an arbitration case at its Atacama operations unit. New supply facilities are also facing challenges and delays, such as at Orocobre’s operations in Argentina, which is estimated to produce 200 kilo metric ton/annum of advanced stage development capacity by 2020. However, this is too short to meet the estimated demand growth during the forecast period, which is likely to create an impact on lithium prices in the next few years, thus hindering the market growth.
– Grid management is a concept where service providers use energy storage to help distribute grid facilities smartly, resiliently, and reliably. Most of the grid management projects being developed are trial projects. The grid management projects are expected to start in the next few years, thus drastically increasing the usage of lithium-ion batteries for energy storage. These applications are projected to act as an opportunity for the market, in the future.

The Lithium Market report also presents the vendor countryside and a corresponding detailed analysis of the major vendors operating in the market. Lithium Market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.

  • Albemarle Corporation
  • Altura Mining Limited
  • Avalon Advanced Materials Inc.
  • Critical Elements Corporation
  • FMC Corporation (FMC Lithium)
  • Galaxy Resources Limited
  • Jiangxi Ganfeng Lithium Co. Ltd

    Key Market Trends

    Emerging Market of Electric Vehicles

    – Electric vehicles have been increasingly used in most developed economies, and are fast replacing traditional vehicles. Lithium batteries can be categorized into two segments, namely, disposable and rechargeable. Disposable lithium batteries use lithium in the metallic form, as an anode, and these batteries have a long life (high charge density) compared to other standard batteries.
    – Lithium is used in high-energy density, rechargeable lithium-ion batteries, which power the batteries in full-electric, plug-in hybrid, and hybrid vehicles (EVs, PEV, and HEVs), respectively. Due to the growth in EV technology, as well as concerns over increased CO2 pollution from combustion engines and rising fuel costs, lithium has been put into widespread use in EV batteries.
    – The major regions in which the production of electric vehicles is prominent include the European countries, such as Norway, Iceland, Sweden, and Belgium, among others. It is estimated that Norway accounted for almost one-third of the total market share in 2018. This is expected to see a sharp surge in the coming years, due to the environment viable nature of electric vehicles, over other petrol/diesel-based cars in the automotive sector.
    – Lithium-ion battery used in electric vehicles has a rechargeable nature and commendable lifetime. Moreover, EVs can also use rapid charging points that can top up the batteries to 80% capacity in around 30 minutes. All the aforementioned factors have helped electric vehicles gain popularity.
    – Some of the major manufacturers of EV battery are Tesla, Nissan, General Motors, Volkswagen, and BMW, among others.
    – All the aforementioned factors are expected to drive the global market, during the forecast period.

    Asia-Pacific Region to Dominate the Market

    In 2018, the Asia-Pacific region was the largest consumer of lithium, globally, with majority of the consumption coming from China. China has salt lakes in Qinghai province, spodumene resources mainly in Xinjiang and Sichuan province, and lepidolite in Jiangxi province. The Indian lithium industry is expected to witness significant growth in the region, during forecast period, after China. Rise in technological developments and increasing need for cleaner energy sources have brought li-ion batteries on the forefront across various industries, as well as end-use sectors. Japan is one of the prominent regions for the lithium battery market, along with China and Korea, occupying a 96% market share in terms of battery capacity shipments. Lithium carbonate consumption decreased, owing to slower than anticipated growth of lithium-ion batteries in electric vehicles, and the continued transfer of lithium-ion battery manufacturing plants from Japan to China. Japan’s lithium metal consumption decreased, owing to the relocation of primary battery manufacturing plants from Japan to Indonesia. Emerging economies are expected to increase the consumption of lithium in various end-use products. Owing to the increasing population, increase in regional acceptance of solar thermal and solar electric technologies (renewable heat) in emerging countries, such as Pakistan, Bangladesh, Nepal, Sri Lanka, Cambodia, Laos, etc., are expected to increase the consumption of lithium in energy storage, in the coming years.

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    Reasons to Purchase this Report

    • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
    • Study on product type and application expected to dominate the market.
    • Study on regions expected to witness fastest growth during the forecast period.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • 3 months’ analyst support along with the Market Estimate sheet (in excel).

    Detailed Table of Content of Global Lithium Market – Growth, Trends, Forecast and Challenges (2019 – 2024)

    1. Introduction

    1.1 Study Deliverables

    1.2 General Study Assumptions

    2. Research Methodology

    2.1 Introduction

    2.2 Analysis Methodology

    2.3 Study Phases

    2.4 Econometric Modelling

    3. Executive Summary

    4. Market Overview and Trends of Lithium Market

    4.1 Introduction

    4.2 Market Trends

    4.3 Porter’s Five Force Framework

    4.3.1 Bargaining Power of Suppliers

    4.3.2 Bargaining Power of Consumers

    4.3.3 Threat of New Entrants

    4.3.4 Threat of Substitute Products and Services

    4.3.5 Competitive Rivalry within the Industry

    5. Market Dynamics of Lithium Market

    5.1 Drivers

    5.1.1 Increasing Production

    5.1.2 Rising Demand

    5.2 Restraints

    5.3 Opportunities

    6. Global Lithium Market Segmentation, By Capacity

    7. Global Lithium Market Segmentation, By Material Type

    7.1 Type 1

    7.2 Type 2

    7.3 Type 3

    8. Global Lithium Market Segmentation, Segmented by Region

    8.1 North America

    8.1.1 United States

    8.1.2 Canada

    8.1.3 Rest of North America

    8.2 Asia-Pacific

    8.2.1 China

    8.2.2 Japan

    8.2.3 India

    8.2.4 Rest of Asia-Pacific

    8.3 Europe

    8.3.1 United Kingdom

    8.3.2 Germany

    8.3.3 France

    8.3.4 Russia

    8.3.5 Rest of Europe

    8.4 Rest of the World

    8.4.1 Brazil

    8.4.2 South Africa

    8.4.3 Others

    9. Competitive Landscape and Introduction of Lithium Market

    9.1 Introduction

    9.2 Market Share Analysis

    9.3 Developments of Key Players

    10. Key Vendor Analysis (Overview, Products & Services, Strategies)

    10.1 Company 1

    10.2 Company 2

    10.3 Company 3

    11. Disclaimer

    And Many More….

    No. of Pages: – 230

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