Lithium Mining Market: Introduction
- Lithium mining is a process used for obtaining lithium metal from various sources, such as brines and hard rocks. Lithium is the lightest material and solid element found in nature.
- Superior properties of lithium, such as high energy density, thermal resistance, long durability, and minimal maintenance make it ideal for use in a range of applications, including battery energy storage, glass, grease, etc.
- Approximately 56% of the world’s lithium mined and produced is employed in battery production. Mining of lithium results in the formation of a range of products such as lithium carbonate, lithium hydroxide, and lithium chloride.
- World’s major lithium reserves are found in China, Australia, Zimbabwe, Serbia, Czech Republic, Germany, Austria, Portugal, Brazil, Mexico, Canada, European Union, etc.
- Rise in Demand for Lithium Storage Batteries in Electric Vehicles to Enhance Lithium Mining Market. Growing adoption of electric vehicles and need for electric vehicle batteries with higher energy densities are likely to fuel lithium mining market. Increase in sales of electric vehicles, such as hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEV), and pure battery electric vehicles (BEVs), is anticipated to boost the demand for Li batteries.
- Li ion batteries are lightweight. Extensive research and investments have been made in advanced battery technologies that are suitable for electric vehicles
- The U.S. Government supports its R&D activities for advanced batteries through the Department of Energy. It granted US$ 2 Bn to accelerate the development and manufacture of next generation electric vehicles. The European Commission and government organizations in Europe and the Japanese Ministry of Economy, Trade and Industry are supporting R&D activities in advanced batteries.
- Adoption of Li ion batteries is anticipated to increase in electric vehicles, especially in plug-in hybrid electric vehicles and battery electric vehicles, owing to batteries high specific energy and energy density
Is something restraining your company’s growth in the Lithium Mining Market? Ask for the report brochure here
Increase in Demand for Lithium for Air-treatment Applications to Drive Lithium Mining Market
- Rise in use of lithium in air treatment applications is a major driver for the global lithium market. Lithium is used in cooling, dehumidification, and air regeneration applications. Shopping malls, hospitals, and other institutional facilities often employ absorption chillers as their source of air conditioning.
- Lithium chloride is used for dehumidification purpose. Large areas, which must operate without humidity use lithium chloride to absorb moisture.
- Demand for lithium for air regeneration applications is also increasing. Space vehicles, submarines and miners, safety devices, etc., possess systems to remove carbon dioxide from human exhaust. The non-reversible reaction of anhydrous lithium hydroxide with carbon dioxide results in efficient removal of carbon dioxide.
Environmental and Occupational Health and Safety Risks
- The mining industry extracts a large amount of ground water, thus causing damage to the ecosystem. Processing of lithium mining involves evaporation of brines and washing the mineral with sodium carbonate in large-scale polyvinyl chloride (PVC)-lined shallow ponds, which leads to water pollution.
- Lithium, due to its alkaline properties, is highly corrosive in nature and reacts with water. Breathing lithium dust or alkaline lithium compounds negatively affect the respiratory tracts and prolonged exposure to lithium causes health issues, such as pulmonary edema.
Asia Pacific to Lead Global Lithium Mining Market
- In terms of region, the global lithium mining market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific accounts for a significant share of the global lithium mining market. China, one of the major consumers of lithium, has started mining operations in South America and Australia, which are principal lithium sources.
To Get a Bird’s Eye View of Lithium Mining Market Forecast, Ask for a Custom Report
Key Players in Global Lithium Mining Market
The global lithium mining market is moderately fragmented with top manufacturers accounting for a major share. Prominent players operating in the global lithium mining market are entering into partnerships for the development of advanced lithium mining technologies.
Key players operating in the global lithium mining market include:
- Albemarle Corporation
- Talison Lithium
- FMC Corporation
- Tianqi Lithium Corporation
- Jiangxi Ganfeng
- Orocorbe Limited Pty Ltd
- Nordic Mining ASA
Global Lithium Mining Market: Research Scope
Global Lithium Mining Market, by Source
- Hard Rocks
Global Lithium Mining Market, by Technology
- Brine Processing
- Clay Processing
Global Lithium Mining Market, by Application
- Glass & Ceramics
- Battery Storage
- Portable Electronics
- Chemical Synthesis
- Others (Including other battery storage applications)
Global Lithium Mining Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.