Report Highlights
The global market for lithium mining is expected to grow from $5.7 billion in 2023 and projected to reach $9.1 billion by the end of 2028, at a compound annual growth rate (CAGR) of 10.0% from 2023 to 2028.
Report Includes
- 48 data tables and 49 additional tables
- An overview of the current and future global markets for lithium mining
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimate of the actual market size and revenue forecast for the global lithium mining market, and corresponding market share analysis by source type, product type, end-user industry and geographic region
- Facts and figures pertaining to the major market dynamics, technological trends, policies and regulatory frameworks for lithium mining and future prospects
- Discussion of the impact of COVID-19 on the lithium mining industry
- Discussion of sustainability trends and factors in lithium mining market, with emphasis on consumer attitudes, companies’ ESG scores, the future of ESG, case studies, and the ESG practices followed by lithium mining companies
- Overview of the major vendors, along with an analysis of the competitive landscape, including company market shares, M&A deals and venture fundings
- Profiles of the leading global players
Report Scope
The report discusses the two source types of lithium mining, such as brine and hard rock. It analyzes the leading players in the market as well as market trends. Emerging technologies and trends are reviewed. Because this is a global study, BCC Research analyzed domestic and international technological issues and economic considerations.
The market segments of the report are focused on the technical and commercial aspects of lithium mining activities with respect to two product types: lithium carbonate and lithium hydroxide. The report also covers the policy and regulatory framework for lithium mining that mining companies adhere to in order to maintain environmental sustainability and to comply with government regulations.
The report analyzes the global market by region as well as country, with forecasts from 2023 through 2028. The report surveys the competitive landscape of the lithium mining industry, and profiles key market players.
The currency used in this report is U.S. dollars, with market size indicated only in millions of U.S. dollars. The revenues of the companies are derived from their annual reports. For all the companies, the revenues are given in the U.S. dollars; and for companies that report their revenue in other currencies (i.e., euros and pounds), the average annual currency conversion rate has been used for the particular year to convert these values into U.S. dollars. The conversion rate for each currency conversion is provided in the report.
Report Synopsis
| Report Metrics | Details | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2022 | ||||||||||
| Forecast period considered | 2023-2028 | ||||||||||
| Base year market size | $5.2 billion | ||||||||||
| Market size forecast | $9.1 billion | ||||||||||
| Growth rate | CAGR of 10.0% from 2023 to 2028 | ||||||||||
| Units considered | $ Millions (Revenue) and Metric Tons (Volume) | ||||||||||
| Segments covered | By Source Type, Product Type, End Use, and Geographic Region | ||||||||||
| Regions covered | Asia-Pacific (APAC), South America, Europe, Middle East and Africa (EMEA), and North America | ||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
What is the projected market size and growth rate of the market?
The market is projected to grow from $5.2 billion in 2022 to $9.1 billion in 2028, at a compound annual growth rate (CAGR) of 10.0% during the forecast period.
What are the key factors driving the growth of the market?
Burgeoning sales of electric vehicles, governmental investment across the lithium mining industry, and increasing demand for consumer electronics are key factors driving the market.
What segments are covered in the market?
The segments covered in the market are source type, type, and end use. The source type segmentation includes hard rock and brine. By type, the market has been classified in lithium carbonate and lithium hydroxide. The end-use segmentation includes battery, glass & ceramics, lubricants & grease, polymer, flux powder, and others.
By Source type, which segment will dominate the market by the end of 2028?
Brine segment will dominate the market by the end of 2028, as the largest lithium brine deposits are found in South American countries like Chile, Bolivia, and Argentina, where Chile alone accounts for around 30% in the global lithium mining production, followed by Argentina with 5% share.
Which region has the highest market share in the market?
Asia-Pacific holds the highest market share in the market owing to the increasing demand for li-ion batteries by the countries in the region. Moreover, China is the leading producer of li-ion batteries across the globe.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment.The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights.With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Consulting Editor’s Credentials
Jason Chen has been an analyst and consultant for the polymer, composite, fibre, textile and energy industries for 19 years. He works as a researcher, writer and/or editor for the American Composites Manufacturers Association (ACMA), China Textile Academy (CTA), China Chemical Fiber Association (CCFA), International Fiber Journal, Filtration News, Platts Emission Daily, Vision Systems Design, Pesticide and Toxic Chemical News and MobileTex. He has a degree in Civil Engineering, Chemicals and Advanced Materials from Shantou University.
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Published - Feb-2022|Analyst - BCC Publishing|Code - EGY184A
Report Highlights
The global market for lithium mining is estimated to increase from $525.8 million in 2021 to nearly $1.4 billion by 2026, at a compound annual growth rate (CAGR) of 20.8% during the forecast period of 2021-2026.
Report Includes
- 44 data tables and 44 additional tables
- An up-to-date overview of the global lithium mining market
- Analyses of global market trends, with data from 2020, estimates for 2021 and 2022, and projections of compound annual growth rates (CAGRs) through 2026
- Highlights of the current and future market potential and quantification of lithium mining market size and forecast by source type, mining (resource) type, end-use segment, and region
- In-depth information (facts and figures) concerning the major factors influencing the progress of the market (drivers and industry-specific challenges) with respect to specific growth trends, upcoming prospects and contributions to the overall market
- Impact of COVID-19 on the global market for lithium mining
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies
- Descriptive company profiles of the leading global players, including Albemarle Corp., Allkem Ltd., Livent Corp., Sociedad Quimica (SQM), Tianqi Lithium, and Orocobre Ltd.
