Lithium Mining Market Segmentation: —
The global lithium mining market is segregated into the source, type, and application.
On the basis of the source, the market is further categorized into brines, and hard rocks segments.
On the basis of the type, the market is segmented into lithium hydroxide, lithium carbonate, and other segments.
On the basis of the application, the market is segregated into batteries, glass, grease, air conditioning equipment, and others.
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Albemarle Corporation (U.S.),
FMC Lithium (U.S.),
Tianqi Lithium Corporation (China),
Jiangxi Ganfeng Lithium Co., Ltd. (China),
LITHIUM AMERICAS (Canada.),
MGX Minerals Inc (Canada),
Nemaska Lithium (Canada),
Galaxy Resources Limited (Australia),
Wealth Minerals Ltd (Canada)
Lithium is the lightest metal produced from various sources such as brines and hard rocks. It provides significant properties such as excellent performance, strength, and durable nature of the finished material. Moreover, they provide versatility and reliability to the product.
The global lithium mining market has been driven by the range of its application in various uses such as batteries, glass, grease, air conditioning equipment, and others. Moreover, it is estimated that the batteries segment is set to witness the highest growth in the market due to the growing consumption of lithium to impact economic and extended life nature to the product.
The brines segment is the most widely adopted source where lithium is produced. Its cost effective nature and ease of application are the major factors behind the popularity of this segment, which makes it suitable for various applications such as batteries, glass, and others.
The lithium hydroxide is the leading segment of the market on account of its growing consumption in Li-Ion cathode applications. These materials provide enhanced energy, strength, and flexibility to the product.
The batteries segment is the leading application in the market and is anticipated to observe a higher CAGR due to extensive use of lithium to impart long life and minimal maintenance to the product.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
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Lithium is used in a wide variety of applications, which is capable of offering thermal resistance, durability, and minimal maintenance to the product. Thus, they are used in various applications such as batteries, glass, grease, air conditioning equipment, and others. The global lithium mining market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to continue leading owing to the increasing consumption of metal in batteries, glass, grease, air conditioning equipment, and others. It is estimated that the batteries segment is set to observe the highest CAGR in the market due to the growing use of metal to improve the performance and increase the life cycle of the product. Moreover, increasing demand for reduced materials in glass and ceramics sectors is likely to witness a rapid growth during the forecast period. These factors have led to China, India, and Japan to be the major players of this region.
The North American market is expected to grow at a higher CAGR due to extensive consumption of metal in lithium-ion batteries, glass, grease, and others. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. Therefore, the growing demand for air-conditioning and energy storage systems made from lithium are estimated to drive the market during the forecast period.
A notable development is achieved in Europe due to the growing demand for the lightest metal in batteries, glass, grease, air conditioning equipment segments, and others. The rapid urbanization coupled with technology have propelled the market to witness a higher growth. Thus, countries such as Germany, the U.K, and Italy are the major contributors to this market.
A considerable development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of lithium in major industries. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for lithium in smartphones, tablets, and other gadgets.
Name: Abhishek Sawant
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Organization: Market Research Future
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Release ID: 501622