Market Size, Competitive Landscape, Revenue Analysis, 2022–2030

Global lithium mining market size was USD 3.33 Billion in 2020 and is expected to register a revenue CAGR of 6.8%, during the forecast period, according to latest analysis by Emergen Research. Rising demand for consumer electronics products and increasing use of lithium-ion batteries in grid-scale energy storage systems are among some of the key factors driving market revenue growth. Increasing focus on Research & Development (R&D) of advanced technologies in mining process is expected to boost revenue growth of the market to a significant extent. Several universities are focusing on research for developing newer technology to assist in lithium extraction. For instance, Researchers team from Monash University, Australia, The Commonwealth Scientific and Industrial Research Organisation (CSIRO), the University of Texas at Austin, and the University of Melbourne have developed an innovative filtering technology for extracting lithium ions from brine. This innovative filtering technology has a higher recovery rate over present mining methods and reduces the mining procedure time down to just a few hours from several months to years in present lithium mining. This new way to mine lithium substantially decrease lithium prices for Electric Vehicle (EV) batteries and stationary energy storage systems, providing opportunities for energy transition and electric mobility.

However, concerns regarding health and safety risks for lithium miners and concerns regarding environmental impact due to mining are expected to hamper growth of the global lithium mining market to some extent over the forecast period.

Some Key Highlights from the Report

• Lithium hydroxide segment revenue is expected to expand at significantly steady CAGR during the forecast period. Lithium hydroxide is suitable in battery manufacturing, particularly for EVs. It boosts the efficiency of the battery, enabling EVs to have a further usability range before requiring a recharge.

• Glass & Ceramics (Frits) segment is expected to register significantly steady revenue growth rate over the forecast period due to rising use of lithium in glass and ceramic manufacturing. As the addition of lithium boosts the glass melt rate, decrease the viscosity and melt temperature providing higher output, moulding benefits, and energy savings.

• North America lithium mining market is expected to register steady revenue CAGR over the forecast period due to robust presence of major market players such as Albemarle Corporation, Livent Corporation, and Piedmont Lithium, Inc. in countries in the region.

• Some major companies included in the global market report are Jiangxi Ganfeng Lithium Co., Ltd., Albemarle Corporation, Tianqi Lithium Corp., SQM S.A. (Sociedad Química y Minera), Pilbara Minerals Limited, Livent Corporation, Orocobre Limited Pty Ltd., Mineral Resources Limited, Lithium Americas Corporation, and Piedmont Lithium, Inc.

• In October 2021, Lithium Americas Corp. made an announcement to acquire 42,857,143 subscription receipts of Arena Minerals Inc. This acquisition would provide the opportunity to advance exploration in Argentina in proximity to Caucharí-Olaroz lithium project, which is being jointly developed with Ganfeng Lithium Co. Ltd.

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/lithium-mining-market

Emergen Research has segmented the global lithium mining market on the basis of type, source, end-use, and region:

Type Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2030)

• Lithium Hydroxide

• Lithium Carbonate

• Lithium Chloride

• Lithium Concentrate

Source Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2030)

• Hard Rock

• Brine

• Others

End-use Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2030)

• Flux Powder

• Polymers

• Batteries

• Refrigeration

• Air Conditioning Equipment

• Glass & Ceramics (Frits)

• Grease & Lubricants

• Pharmaceutical

• Others

Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2030)

• North America

  1. U.S.

  2. Canada

  3. Mexico

• Europe

  1. Germany

  2. France

  3. U.K.

  4. Italy

  5. Spain

  6. BENELUX

  7. Rest of Europe

• Asia Pacific

  1. China

  2. India

  3. Japan

  4. South Korea

  5. Rest of APAC

• Latin America

  1. Brazil

  2. Rest of LATAM

• Middle East & Africa

  1. Saudi Arabia

  2. UAE

  3. South Africa

  4. Turkey

  5. Rest of MEA