Middle-East and Africa Lithium Market Size Analysis By Growth, Emerging Trends and Future Opportunities

SDKI Inc. published a new report on the Middle East / Africa Lithium Market-Growth, Trends, Impact of COVID-19, and Forecast 2022-2030. This study includes the statistical and analytical approaches needed to grow the lithium market in the Middle East and Africa. The key industry insights provided in the report provide readers with better ideas about market overviews regarding existing market scenarios. In addition, the report contains a detailed discussion of current and future market trends related to market growth.

Report sample URL
https://www.sdki.jp/sample-request-114007

The Middle East / Africa lithium market is expected to grow at a CAGR of over 10% during the forecast period.

Accelerating demand for electric vehicles and increasing use and demand from portable consumer electronics are key drivers of market growth. In addition, recycling of lithium and its batteries is expected to offer a variety of favorable opportunities for market growth. Lithium is mainly used in battery applications for manufacturing lithium batteries. Increasing demand for lithium-ion batteries in medical devices is expected to drive market growth. However, factors such as a high reliance on imports for consumption and the disadvantages created by the spread of COVID-19 can hinder market growth.

Market segment

The lithium market in the Middle East and Africa is by type (metals, compounds, alloys), application (batteries, grease, air treatment, pharmaceuticals, glass / ceramics, polymers, etc.) and end-user industry (industry, consumer). Electronic equipment for electronics, energy storage, medical care, automobiles, and others), and by country (Saudi Arabia, Iran, United Arab Emirates, Oman, Qatar, Kuwait, Bahrain, Egypt, Morocco, Algeria, South Africa, Nigeria, etc.) Will be done. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Based on its application, the battery segment occupied the largest share of the lithium market in the Middle East and Africa in 2019. Lithium batteries can be divided into two segments, disposable and rechargeable. Disposable lithium batteries use metallic lithium as the anode. These batteries have a long life (high charge density) compared to other standard batteries. These batteries are used in critical long-life devices such as pacemakers and other medical devices that are embedded over the years. Lithium-ion batteries are used in several applications, such as telecommunications equipment and household appliances. Lithium-ion batteries are lightweight, have a high energy density, and are easy to charge, making them suitable for portable electronics. Due to its high energy density and no memory effect, lithium-ion and lithium polymer rechargeable batteries are the most efficient power source for mobile phones, laptops, and other electronic portable devices. These factors are expected to contribute to the growth of this segment.

Country overview

Based on the country, the Middle East / Africa lithium market is divided into Saudi Arabia, Iran, United Arab Emirates, Oman, Qatar, Kuwait, Bahrain, Egypt, Morocco, Algeria, South Africa, Nigeria and more. Saudi Arabia is expected to dominate market growth during the forecast period. Saudi Arabia is an oil-based economy with strong government control over all major economic activities. Annual GDP growth in 2018 was 2.2%. GDP reached about 2.4% by the end of 2019. With over 15% of the world's oil reserves, the country is one of the world's leading oil exporters. However, continued declines in oil prices have affected growth and have restricted the government from developing long-term fiscal recovery plans. With all these factors, the Saudi Arabian government is focusing on economic diversification to reduce its dependence on the oil market.

Private companies are contributing to the development of domestic flow batteries, which are expected to drive the growth of the lithium market. In 2020, Schmid JV began construction of a 3G Hu flow battery plant in Saudi Arabia. However, the COVID-19 pandemic and the domestic blockade have significantly reduced the production and sales of electric vehicles. This has a significant negative impact on lithium consumption.

Key players in the market

Key players in the lithium market in the Middle East and Africa include Albemarle Corporation, SQM SA, Tianqi Lithium, Orocobre Limited Pty Ltd and FMC Corporation. The study includes a detailed competitive analysis of these major companies in the Middle East and Africa lithium market, corporate profiles, recent developments, and key market strategies.

Details of the survey report
https://www.sdki.jp/reports/middle-east-and-africa-lithium-market/114007

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This release was published on openPR.