London, UK -- (SBWire) -- 01/18/2023 --Lithium Mining Market Scope & Overview
Lithium mining is the process of extracting lithium from various sources, typically from hard rock deposits, such as spodumene, petalite, clays, and brines. Lithium is an essential metal in the production of batteries and other electronic products and has applications in various connectivity technologies and industries. The increasing demand for lithium-ion batteries and e-vehicles has driven the growth of the global lithium mining market.
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Key Players Covered in Lithium Mining market report are:
Albemarle Corporation,
Livent Corporation,
Orocobre Ltd.,
SQM (Sociedad Químicay Minera de Chile) ,
Tianqi Lithium Corporation.
The rise in demand for electric cars and two-wheelers is expected to increase the usage of lithium-ion batteries in the automotive industry, which will result in surging demand for lithium. Moreover, the increasing demand of telecom and mobile devices, such as tablets and smartphones, is driving the growth of the automotive industry and thereby increasing the demand for lithium. Additionally, the growing demand for renewable energy is creating the need for lithium-ion batteries, thereby propelling the market for global lithium mining. In addition, the significant investments in renewable energy and the need for low-cost power storage are further projected to accelerate the growth of the market.
However, the high cost of investment in R&D activities is restricting the growth of the global lithium mining market. Furthermore, environmental concerns linked with lithium mining is a major restraint in the growth of the market. Despite these constraints, the increasing demand of lithium batteries in several industrial applications, such as consumer electronics and healthcare, is projected to offer lucrative growth opportunities for the market.
The global lithium mining market is divided into deposit type, consumer, and geography. By Deposit type, the market is classified into hard rock, brines, and other deposits. By consumer, the market is segmented into consumer electronics, automotive, mobile devices, and others. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Lithium Mining Market Segmentation as Follows:
by type:
lithium carbonate
lithium hydroxide
Segmented By End User:
battery,
glass and ceramics,
lubricants and greases,
polymers,
powder flux.
By region:
- Asia Pacific
- Europe
- North America
- Rest of the World (RoW)
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The major companies operating in the global lithium mining market include Altura Mining, Pure Energy minerals, Galaxy Resources, Avz Minerals, American Lithium Corp., Pitchbishop Resources Ltd., and Critical Elements Corporation. These companies have adopted various strategies such as product launches, partnerships, agreements, joint ventures, collaborations, acquisitions, and others, to reinforce their position in the industry.
In conclusion, the increasing demand for lithium-ion batteries and e-vehicles is expected to fuel the growth of the global lithium mining market during the forecast period. Moreover, the surging demand of telecom and mobile devices, increasing investments in renewable energy and the need for low-cost power storage are likely to offer lucrative growth opportunity for market players during the forecast period.
Table of Content – Analysis of Key Points
Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Lithium Mining Market Industry Analysis
Chapter 5. Lithium Mining Global Market, by Type
Chapter 6. Lithium Mining Global Market, by Application
Chapter 7. Lithium Mining Global Market, Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process
Continued…
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Lithium Mining Market Analysis, Size, Share, Growth, Regional Development, Latest Investment and Forecast 2023-2029
The market size of the global lithium mining sector is expected to rise by USD 1,326 million with a CAGR of 20.7% by the end of 2028, According to market research study published by Intelligence Market Report