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The lithium mining market is poised to be prodigious with over 26% CAGR over the period 2021-2025
London, Oct. 18, 2022 (GLOBE NEWSWIRE) — The global lithium production situation lately reflects overproduction and the COVID-19 pandemic has had an impact on lithium mining companies. The global lithium mining market is poised to jump to over US$1,630. 3 million by the end of 2025. A new study by Fairfield Market Research provides a detailed investigation of the expansion and forecast of the lithium mining market during the stipulated projection period i. e. 2021-2025 The report expects Marketplaceplace to revel in suitable expansion customers during the assessment period, recording strong double-digit expansion. An expanding application base is expected to help Marketplaceplace’s expansion of lithium mining.
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Key research information
The lithium mining market is expected to grow by almost 26. 3% between 2021 and 2025
Together, Australia and China accounted for more than 60% of lithium production in 2019.
Lithium mining companies are expected to benefit from the fall in the price of around 89% of lithium-ion batteries between 2010 and 2020.
Segmental Analysis Overview
With an increasing reliance on lithium in recent years, lithium mining corporations have consistently discovered new profit-generating opportunities. and cooling and dehumidification of air conditioning. According to the report, the growing interest of end-users in sectors such as chemicals, automotive, battery technology and even governments will further increase the expansion of market customers. Lately, the report indicates that lithium mining corporations have largely responded to growing demand from automakers leading the electric vehicle (EV) landscape. In addition, lithium will remain a field of interest and application for glass, ceramics and air treatment. An ideal curtain for cooling and dehumidification applications. The growing demand from air conditioner manufacturers.
Key highlights of the report
The increasing intake of lithium-ion batteries through customers’ automotive and electronics industries will particularly drive lithium mining activities in the global market.
In addition to Australia, the report indicates that Chile, China and Argentina remain the maximum places for potential/extractable lithium reserves.
Although the pandemic situation has had a significant effect on the market situation, the existing maximum levels of lithium inventories are considered to be sufficient to cushion the lithium mining industry.
Summary of the regional analysis
With more than 50% of the world’s lithium production volume, Australia continues to conquer the most sensitive place in lithium production and has a collective market share of more than 60% with China, the most lucrative market of the moment for lithium mining companies. China is expected to warm up in terms of generation demand in light of the stronger presence of primary end-use industries, namely automotive and consumer electronics. However, the report also highlights the fact that the Chile-Argentina-Bolivia group affectionately known as the Lithium Triangle continues to face backlash from affected indigenous communities in terms of sustainability. The respective governments of those regions are also playing a leading role here in prolonging this challenge in the face of the expansion of the lithium mining market. The questioned sustainability quotient will remain a constraint for the Lithium Triangle in delivery and export to its full potential.
Key Players in the Global Lithium Mining Market
Albemarle Corporation, Ganfeng Lithium Co. , Ltd. , SQM S. A. , Lithium Americas Corp. , Mineral Resources, Tianqi Lithium, Orocobre Limited Pty Ltd. , Livent
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SCOPE OF THE REPORT
Report attributes
Details
Base year
2020
Forecast year
2021 – 2025
market in 2019
US$829. 7 million
Estimated market size in 2025
US$1,630. 3 million
CAGR
26,3 %
Key players. Main players
Albemarle Corporation, SQM S. A. , Ganfeng Lithium Co. , Ltd. , Tianqi Lithium, Mineral Resources, Lithium Americas Corp. , Livent, Orocobre Limited Pty Ltd.
Market segmentation
Source coverage
Salt water
Hard stone
Other
Type of coverage
lithium carbonate
lithium hydroxide
End-Use Coverage
The battery
Glass
gordo
Polymer
Melting powder
Refrigeration
Other
Geographical coverage
North America
Europe ×
Latin America
Middle East and Africa
Leading companies
Albemarle Society
SQM S. A.
Lithium Ganfeng Co. , Ltd.
Tianqi Lithium
Mineral resources
Lithium Americas Corp.
live
Orocobre Limited Pty Ltd
Ramboll Group
Report inclusions
Market estimates and forecasts
Market dynamics
Industry trends
Competitive landscape
Technology analysis
In-app analytics
Regional analysis
Country analysis
Analysis of key trends
COVID-19 Impact Assessment
About us
Fairfield Market Research is a market research provider founded in the UK. Fairfield provides a wide range of services, from custom-designed reports to consulting solutions. With a strong presence in Europe, Fairfield operates globally and is helping corporations navigate economic cycles, with rapid responses. and multifaceted approaches. The company appreciates a keen eye on global issues, ably backed by a team of exceptionally experienced researchers. With a physically powerful repository of syndicated market research reports that are frequently published and updated for ever-changing desires are fulfilled with absolute speed.
Contact
Fairfield Market Research London, United Kingdom (0)20 30025888 United States (toll-free) 1 (8) 3829746 Website: https://www. fairfieldmarketresearch. com/ Email: sales@fairfieldmarketresearch. com