Product Code: CMI5053
The lithium market is estimated to be valued at USD 52.74 Bn in 2024 and is expected to reach USD 163.08 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 17.5% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 52.74 Bn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
17.50% |
2031 Value Projection: |
US$ 163.08 Bn |
Figure. Lithium Market Share (%), By Region 2024
The lithium market has been growing steadily over the past few decades and is expected to explode in the coming years due to the increasing demand for lithium-ion batteries. Lithium is a key component in these batteries that power a variety of devices ranging from cell phones to electric vehicles. As countries aim for decarbonization and a transition towards clean energy sources, there has been a massive uptick in EV production and sales worldwide. This increasing shift towards electrification across industries like automotive as well as growing consumer electronics market is expected to sustain the high growth trajectory of the lithium market in the long run. However, supply issues could act as bottlenecks if mining and production activities are not accelerated in step with the fast-rising demand.
Market Dynamics:
The lithium market is driven by a strong demand from the lithium-ion battery sector underpinned by growth in EVs and energy storage systems globally. World governments are announcing pleas to ban sales of internal combustion engine vehicles to meet climate change targets, turbocharging the EV adoption. However, limited lithium reserves and mining capacities constrain the supply response. Furthermore, the long gestation periods required for developing new mines pose challenges. Rising geopolitical tensions and trade conflicts pose additional risks to the supply chain. On the bright side, initiatives to develop advanced batteries with reduced lithium content as well as improve recovery rates from scrap batteries can help overcome resource constraints to some extent. Overall, opportunities abound for lithium miners and producers to scale up operations and meet the massive anticipated demand.
Key Features of the Study:
- This report provides in-depth analysis of the global lithium market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global lithium market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Albemarle Corp., Ganfeng Lithium Co., Ltd., SQM S.A., Tianqi Lithium Corporation, Livent Corp., Lithium Americas Corp., Pilbara Minerals, Orocobre Limited Pty. Ltd., Mineral Resources Group Co., Ltd., Avalon Advanced Materials Inc., Sichuan Yahua Industrial Group Co. Ltd, Morella Corporation Limited, Mineral Resources, Ganfeng Lithium Co. Ltd, and Allkem Limited.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global lithium market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global lithium market.
Detailed Segmentation-
- By Type:
- Carbonates
- Hydroxide
- Others
- By Application:
- Automotive
- Consumer Electronics
- Grid Storage
- Glass & Ceramics
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Albemarle Corp.
- Ganfeng Lithium Co., Ltd.
- SQM S.A.
- Tianqi Lithium Corporation
- Livent Corp.
- Lithium Americas Corp.
- Pilbara Minerals
- Orocobre Limited Pty. Ltd.
- Mineral Resources Group Co., Ltd.
- Avalon Advanced Materials Inc.
- Sichuan Yahua Industrial Group Co. Ltd
- Morella Corporation Limited
- Mineral Resources
- Ganfeng Lithium Co. Ltd
- Allkem Limited
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions
4. Global Lithium Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting the Global Lithium Market
- Impact Analysis
5. Global Lithium Market, By Type, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Carbonates
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
- Hydroxide
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
6. Global Lithium Market, By Application, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
- Consumer Electronics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
- Grid Storage
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
- Glass & Ceramics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn)
- Segment Trends
7. Global Lithium Market, By Region, 2019-2031, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019-2031
- North America
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
- Latin America
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Bn))
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019 - 2031 (US$ Bn)
- Market Size and Forecast, By Country, 2019 - 2031, (US$ Bn)
- GCC Countries
- Israel
- Rest of Middle East & Africa
8. Competitive Landscape
- Market Share Analysis
- Company Profiles
- Albemarle Corp.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Ganfeng Lithium Co., Ltd.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- SQM S.A.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Tianqi Lithium Corporation
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Livent Corp.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Lithium Americas Corp.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Pilbara Minerals
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Orocobre Limited Pty. Ltd.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Mineral Resources Group Co., Ltd.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Avalon Advanced Materials Inc.
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Sichuan Yahua Industrial Group Co. Ltd
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Morella Corporation Limited
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Mineral Resources
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Ganfeng Lithium Co. Ltd
- Company Overview
- Type Portfolio
- Recent Developments/Updates
- Allkem Limited
- Company Overview
- Type Portfolio
- Recent Developments/Updates
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. Section
- References
- Research Methodology
- About Us and Sales Contact
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