The Global Lithium market was valued at USD 4650 Million in 2021 and expected to grow at a CAGR of 13.5% during the forecast period of 2023-2028. The market for lithium-ion batteries is likely to grow significantly over the forecast period as a result of the electrification of cars.
Due to the strict rules that ICE automakers must adhere to in order to minimise carbon dioxide emissions from automobiles, the automotive application market is predicted to increase significantly over the course of the projection period. This has caused automakers to become more interested in creating EVs, which is expected to increase demand for lithium and related goods. Together with investments in this area, government subsidies for EVs are projected to serve as an additional catalyst for the market's expansion.
Also, the growing lithium-ion battery market will be able to get enough products from the lithium sector. Direct lithium extraction (DLE) and direct lithium to product (DLP), which are anticipated to grow tenfold between 2021 and 2030, can be the driving factors behind the industry's ability to react more quickly to skyrocketing demand.
Among the sources of lithium, the rising demand for high-capacity lithium-ion batteries will propel the demand for brine due to the enormous potential and significant technological advancements in the production of the product. Furthermore, the extraction of lithium from geothermal brines provides an opportunity to offer regions a reliable domestic supply of lithium to fulfill the rising needs of electric vehicles and other uses.
The Global lithium market is not fragmented but oligopolistic in structure as there are few players controlling the supply and price dominance in the marketplace. The top 10 lithium companies control more than 60% of the industry, while the other companies in the industry control a combined 22% of the market.
Due to the strict rules that ICE automakers must adhere to in order to minimise carbon dioxide emissions from automobiles, the automotive application market is predicted to increase significantly over the course of the projection period. This has caused automakers to become more interested in creating EVs, which is expected to increase demand for lithium and related goods. Together with investments in this area, government subsidies for EVs are projected to serve as an additional catalyst for the market's expansion.
Also, the growing lithium-ion battery market will be able to get enough products from the lithium sector. Direct lithium extraction (DLE) and direct lithium to product (DLP), which are anticipated to grow tenfold between 2021 and 2030, can be the driving factors behind the industry's ability to react more quickly to skyrocketing demand.
Among the sources of lithium, the rising demand for high-capacity lithium-ion batteries will propel the demand for brine due to the enormous potential and significant technological advancements in the production of the product. Furthermore, the extraction of lithium from geothermal brines provides an opportunity to offer regions a reliable domestic supply of lithium to fulfill the rising needs of electric vehicles and other uses.
The Global lithium market is not fragmented but oligopolistic in structure as there are few players controlling the supply and price dominance in the marketplace. The top 10 lithium companies control more than 60% of the industry, while the other companies in the industry control a combined 22% of the market.
Scope of the Report:
- The report analyses the Lithium Market by Value (USD Million).
- The report analyses the Lithium Market by Volume (000’ metric tons of LCE)
- The report presents the analysis of Lithium market for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028.
- The report analyses the Lithium Market by Source (Brine, Hardrock).
- The report analyses the Lithium Market By Applications (Battery, Glass & Ceramics, Lubricant, Casting Fluxes, Other Application).
- The report analyses the Lithium Market By End Users (Industrial, Consumer Electronics, Energy Storage, Medical, Automotive, Other End User).
- The Global Lithium Market has been analysed by countries (United States, Canada, Brazil, Germany, UK, France, China, Japan, South Korea, India).
- The market dynamics such as growth drivers, market trends, and challenges are analyzed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players (Albemarle Corporation, SQM, Tianqi Lithium Corporation, Ganfeng Lithium Co. Ltd., Pilbara Minerals, Allkem, Livent Corporation, Savannah Resources PLC, Li-Cycle Holdings, Minerals Resources Ltd.) are also presented in detail.
Key Target Audience:
- Lithium Companies
- EV Companies
- Component Suppliers
- Consulting Firms
- Research and Development Organizations
- Government Bodies & Regulating Authorities
Table of Contents
1. Market Background1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Strategic Recommendations
3. Global Lithium Market: Historic and Forecast (2018-2028)
3.1 Impact Analysis of Macro Economic Factors on Lithium Market
3.2 Worldwide Lithium Resources
3.3 Global li-ion Battery Demand
3.4 Global Lithium Market: Dashboard
3.5 Global Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
3.6 Global Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
3.7 Average Selling Price Analysis (USD/Metric Tons of LCE
3.8 Impact of COVID-19 on Lithium Market
3.9 Global Lithium Market Segmentation : By Source
3.9.1 Global Lithium Market, By Source Overview
3.9.2 Global Lithium Market Size, By Brine, By Value, 2018H-2028F (USD Million & CAGR)
3.9.3 Global Lithium Market Size, By Hardrock, By Value, 2018H-2028F (USD Million & CAGR)
3.10 Global Lithium Market Segmentation : By Application
3.10.1 Global Lithium Market, By Application Overview
3.10.2 Global Lithium Market Size, By Battery, By Value, 2018H-2028F (USD Million & CAGR)
3.10.3 Global Lithium Market Size, By Glass & Ceramics, By Value, 2018H-2028F (USD Million & CAGR)
3.10.4 Global Lithium Market Size, By Lubricant, By Value, 2018H-2028F (USD Million & CAGR)
3.10.5 Global Lithium Market Size, By Casting Fluxes, By Value, 2018H-2028F (USD Million & CAGR)
3.10.6 Global Lithium Market Size, By Other Applications, By Value, 2018H-2028F (USD Million & CAGR)
3.11 Global Lithium Market Segmentation : By End Users
3.11.1 Global Lithium Market, By End Users Overview
3.11.2 Global Lithium Market Size, By Industrial, By Value, 2018H-2028F (USD Million & CAGR)
3.11.3 Global Lithium Market Size, By Consumer Electronics, By Value, 2018H-2028F (USD Million & CAGR)
3.11.4 Global Lithium Market Size, By Energy Storage, By Value, 2018H-2028F (USD Million & CAGR)
3.11.5 Global Lithium Market Size, By Medical, By Value, 2018H-2028F (USD Million & CAGR)
3.11.6 Global Lithium Market Size, By Automotive, By Value, 2018H-2028F (USD Million & CAGR)
3.11.7 Global Lithium Market Size, By Others, By Value, 2018H-2028F (USD Million & CAGR)
4. Global Lithium Market, Region Analysis
4.1 Regional Coverage of the Study
4.2 Regional Snapshot
5. Americas Lithium Market: Historic and Forecast (2018-2028)
5.1 Americas Lithium Market: Snapshot
5.2 Americas Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.3 Americas Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
5.4 Americas Lithium Market: Key Factors
5.5 Americas Lithium Market Segmentation : By Source
5.5.1 Americas Lithium Market, By Source Overview
5.5.2 Americas Lithium Market Size, By Brine, By Value, 2018H-2028F (USD Million & CAGR)
5.5.3 Americas Lithium Market Size, By Hardrock, By Value, 2018H-2028F (USD Million & CAGR)
5.6 Americas Lithium Market Segmentation : By Application
5.6.1 Americas Lithium Market, By Application Overview
5.6.2 Americas Lithium Market Size, By Battery, By Value, 2018H-2028F (USD Million & CAGR)
5.6.3 Americas Lithium Market Size, By Glass & Ceramics, By Value, 2018H-2028F (USD Million & CAGR)
5.6.4 Americas Lithium Market Size, By Lubricant, By Value, 2018H-2028F (USD Million & CAGR)
5.6.5 Americas Lithium Market Size, By Casting Fluxes, By Value, 2018H-2028F (USD Million & CAGR)
5.6.6 Americas Lithium Market Size, By Other Applications, By Value, 2018H-2028F (USD Million & CAGR)
5.7 Americas Lithium Market Segmentation : By End Users
5.7.1 Americas Lithium Market, By End Users Overview
5.7.2 Americas Lithium Market Size, By Industrial, By Value, 2018H-2028F (USD Million & CAGR)
5.7.3 Americas Lithium Market Size, By Consumer Electronics, By Value, 2018H-2028F (USD Million & CAGR)
5.7.4 Americas Lithium Market Size, By Energy Storage, By Value, 2018H-2028F (USD Million & CAGR)
5.7.5 Americas Lithium Market Size, By Medical, By Value, 2018H-2028F (USD Million & CAGR)
5.7.6 Americas Lithium Market Size, By Automotive, By Value, 2018H-2028F (USD Million & CAGR)
5.7.7 Americas Lithium Market Size, By Others, By Value, 2018H-2028F (USD Million & CAGR)
5.8 Americas Lithium Market Segmentation: By Country
5.8.1 United States Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.8.1.1 United States Lithium Market, By Source
5.8.1.2 United States Lithium Market, By Application
5.8.1.3 United States Lithium Market, By End Users
5.8.2 Canada Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.8.2.1 Canada Lithium Market, By Source
5.8.2.2 Canada Lithium Market, By Application
5.8.2.3 Canada Lithium Market, By End Users
5.8.3 Brazil Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.8.3.1 Brazil Lithium Market, By Source
5.8.3.2 Brazil Lithium Market, By Application
5.8.3.3 Brazil Lithium Market, By End Users
5.8.4 Rest of Americas Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
5.8.4.1 Rest of Americas Lithium Market, By Source
5.8.4.2 Rest of Americas Lithium Market, By Application
5.8.4.3 Rest of Americas Lithium Market, By End Users
6. Europe Lithium Market: Historic and Forecast (2018-2028)
6.1 Europe Lithium Market: Snapshot
6.2 Europe Lithium Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
6.3 Europe Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
6.4 Europe Lithium Market: Key Factors
6.5 Europe Lithium Market Segmentation: By Source
6.5.1 Europe Lithium Market, By Source Overview
6.5.2 Europe Lithium Market Size, By Brine, By Value, 2018H-2028F (USD Million & CAGR)
6.5.3 Europe Lithium Market Size, By Hardrock, By Value, 2018H-2028F (USD Million & CAGR)
6.6 Europe Lithium Market Segmentation: By Application
6.6.1 Europe Lithium Market, By Application Overview
6.6.2 Europe Lithium Market Size, By Battery, By Value, 2018H-2028F (USD Million & CAGR)
6.6.3 Europe Lithium Market Size, By Glass & Ceramics, By Value, 2018H-2028F (USD Million & CAGR)
6.6.4 Europe Lithium Market Size, By Lubricant, By Value, 2018H-2028F (USD Million & CAGR)
6.6.5 Europe Lithium Market Size, By Casting Fluxes, By Value, 2018H-2028F (USD Million & CAGR)
6.6.6 Europe Lithium Market Size, By Other Applications, By Value, 2018H-2028F (USD Million & CAGR)
6.7 Europe Lithium Market Segmentation: By End Users
6.7.1 Europe Lithium Market, By End Users Overview
6.7.2 Europe Lithium Market Size, By Industrial, By Value, 2018H-2028F (USD Million & CAGR)
6.7.3 Europe Lithium Market Size, By Consumer Electronics, By Value, 2018H-2028F (USD Million & CAGR)
6.7.4 Europe Lithium Market Size, By Energy Storage, By Value, 2018H-2028F (USD Million & CAGR)
6.7.5 Europe Lithium Market Size, By Medical, By Value, 2018H-2028F (USD Million & CAGR)
6.7.6 Europe Lithium Market Size, By Automotive, By Value, 2018H-2028F (USD Million & CAGR)
6.7.7 Europe Lithium Market Size, By Others, By Value, 2018H-2028F (USD Million & CAGR)
6.8 Europe Lithium Market Segmentation: By Country
6.8.1 Germany Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.1.1 Germany Lithium Market, By Source
6.8.1.2 Germany Lithium Market, By Application
6.8.1.3 Germany Lithium Market, By End Users
6.8.2 United Kingdom Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.2.1 United Kingdom Lithium Market, By Source
6.8.2.2 United Kingdom Lithium Market, By Application
6.8.2.3 United Kingdom Lithium Market, By End Users
6.8.3 France Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.3.1 France Lithium Market, By Source
6.8.3.2 France Lithium Market, By Application
6.8.3.3 France Lithium Market, By End Users
6.8.4 Rest of Europe Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
6.8.4.1 Rest of Europe Lithium Market, By Source
6.8.4.2 Rest of Europe Lithium Market, By Application
6.8.4.3 Rest of Europe Lithium Market, By End Users
7. Asia Pacific Lithium Market: Historic and Forecast (2018-2028)
7.1 Asia Pacific Lithium Market: Snapshot
7.2 Asia Pacific Lithium Market: Market Size and CAGR, 2018-2028 (USD Billion & CAGR)
7.3 Asia Pacific Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
7.4 Asia Pacific Lithium Market: Key Factors
7.5 Asia Pacific Lithium Market Segmentation: By Source
7.5.1 Asia Pacific Lithium Market, By Source Overview
7.5.2 Asia Pacific Lithium Market Size, By Brine, By Value, 2018H-2028F (USD Million & CAGR)
7.5.3 Asia Pacific Lithium Market Size, By Hardrock, By Value, 2018H-2028F (USD Million & CAGR)
7.6 Asia Pacific Lithium Market Segmentation: By Application
7.6.1 Asia Pacific Lithium Market, By Application Overview
7.6.2 Asia Pacific Lithium Market Size, By Battery, By Value, 2018H-2028F (USD Million & CAGR)
7.6.3 Asia Pacific Lithium Market Size, By Glass & Ceramics, By Value, 2018H-2028F (USD Million & CAGR)
7.6.4 Asia Pacific Lithium Market Size, By Lubricant, By Value, 2018H-2028F (USD Million & CAGR)
7.6.5 Asia Pacific Lithium Market Size, By Casting Fluxes, By Value, 2018H-2028F (USD Million & CAGR)
7.6.6 Asia Pacific Lithium Market Size, By Other Applications, By Value, 2018H-2028F (USD Million & CAGR)
7.7 Asia Pacific Lithium Market Segmentation: By End Users
7.7.1 Asia Pacific Lithium Market, By End Users Overview
7.7.2 Asia Pacific Lithium Market Size, By Industrial, By Value, 2018H-2028F (USD Million & CAGR)
7.7.3 Asia Pacific Lithium Market Size, By Consumer Electronics, By Value, 2018H-2028F (USD Million & CAGR)
7.7.4 Asia Pacific Lithium Market Size, By Energy Storage, By Value, 2018H-2028F (USD Million & CAGR)
7.7.5 Asia Pacific Lithium Market Size, By Medical, By Value, 2018H-2028F (USD Million & CAGR)
7.7.6 Asia Pacific Lithium Market Size, By Automotive, By Value, 2018H-2028F (USD Million & CAGR)
7.7.7 Asia Pacific Lithium Market Size, By Others, By Value, 2018H-2028F (USD Million & CAGR)
7.8 Asia Pacific Lithium Market Segmentation: By Country
7.8.1 China Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.1.1 China Lithium Market, By Source
7.8.1.2 China Lithium Market, By Application
7.8.1.3 China Lithium Market, By End Users
7.8.2 Japan Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.2.1 Japan Lithium Market, By Source
7.8.2.2 Japan Lithium Market, By Application
7.8.2.3 Japan Lithium Market, By End Users
7.8.3 South Korea Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.3.1 South Korea Lithium Market, By Source
7.8.3.2 South Korea Lithium Market, By Application
7.8.3.3 South Korea Lithium Market, By End Users
7.8.4 India Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.4.1 India Lithium Market, By Source
7.8.4.2 India Lithium Market, By Application
7.8.4.3 India Lithium Market, By End Users
7.8.5 Rest of APAC Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
7.8.5.1 Rest of APAC Lithium Market, By Source
7.8.5.2 Rest of APAC Lithium Market, By Application
7.8.5.3 Rest of APAC Lithium Market, By End Users
8. Middle East & Africa Lithium Market: Historic and Forecast (2018-2028)
8.1 Middle East & Africa Lithium Market: Snapshot
8.2 Middle East & Africa Lithium Market: Market Size and CAGR, 2018-2028 (USD Million & CAGR)
8.3 Middle East & Africa Lithium Market: Market Size and CAGR, 2018-2028 (Volume Sales)
8.4 Middle East & Africa Lithium Market: Key Factors
8.5 Middle East & Africa Lithium Market Segmentation : By Source
8.5.1 Middle East & Africa Lithium Market, By Source Overview
8.5.2 Middle East & Africa Lithium Market Size, By Brine, By Value, 2018H-2028F (USD Million & CAGR)
8.5.2 Middle East & Africa Lithium Market Size, By Hardrock, By Value, 2018H-2028F (USD Million & CAGR)
8.6 Middle East & Africa Lithium Market Segmentation: By Application
8.6.1 Middle East & Africa Lithium Market, By Application Overview
8.6.2 Middle East & Africa Lithium Market Size, By Battery, By Value, 2018H-2028F (USD Million & CAGR)
8.6.3 Middle East & Africa Lithium Market Size, By Glass & Ceramics, By Value, 2018H-2028F (USD Million & CAGR)
8.6.4 Middle East & Africa Lithium Market Size, By Lubricant, By Value, 2018H-2028F (USD Million & CAGR)
8.6.5 Middle East & Africa Lithium Market Size, By Casting Fluxes, By Value, 2018H-2028F (USD Million & CAGR)
8.6.6 Middle East & Africa Lithium Market Size, By Other Applications, By Value, 2018H-2028F (USD Million & CAGR)
8.7 Middle East & Africa Lithium Market Segmentation: By End Users
8.7.1 Middle East & Africa Lithium Market, By End Users Overview
8.7.2 Middle East & Africa Lithium Market Size, By Industrial, By Value, 2018H-2028F (USD Million & CAGR)
8.7.3 Middle East & Africa Lithium Market Size, By Consumer Electronics, By Value, 2018H-2028F (USD Million & CAGR)
8.7.4 Middle East & Africa Lithium Market Size, By Energy Storage, By Value, 2018H-2028F (USD Million & CAGR)
8.7.5 Middle East & Africa Lithium Market Size, By Medical, By Value, 2018H-2028F (USD Million & CAGR)
8.7.6 Middle East & Africa Lithium Market Size, By Automotive, By Value, 2018H-2028F (USD Million & CAGR)
8.7.7 Middle East & Africa Lithium Market Size, By Others, By Value, 2018H-2028F (USD Million & CAGR)
9. Market Dynamics
9.1 Impact assessment of Market Dynamics on Global Lithium Market
9.2 Drivers
9.3 Restraints
9.4 Trends
10. Industry Ecosystem Analysis
10.1 Macro-Economic Factor Assessment
10.2 Porter Analysis
10.3 Value Chain Analysis
11. Competitive Positioning
11.1 Companies’ Product Positioning
11.2 Market Position Matrix
11.3 Market Share Analysis of Lithium Market
11.4 Company Profiles
11.4.1 Albemarle Corporation
11.4.2 SQM
11.4.3 Tianqi Lithium Corporation
11.4.4 Ganfeng Lithium Co. Ltd.
11.4.5 Pilbara Minerals
11.4.6 Allkem
11.4.7 Livent Corporation
11.4.8 Savannah Resources PLC
11.4.9 Li-cycle Holdings Corporation
11.4.10 Mineral Resources Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 280 |
| Published | February 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 5.64 Billion |
| Forecasted Market Value ( USD | $ 10.6 Billion |
| Compound Annual Growth Rate | 13.4% |
| Regions Covered | Global |
