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Lithium Market is Grabbing New opportunities by Top Key Players Analysis Report

02-01-2022 10:54 AM CET | Industry, Real Estate & Construction

Press release from: Fortune Business Insights

lithium market

lithium market

The global lithium market size is projected to reach USD 8.24 billion by the end of 2027. The increasing investments in lithium extraction methods have opened up a flexible applications scope. According to a report published by Fortune Business Insights, titled “Lithium Market Size, Share & Industry Analysis, By Product (Carbonate, Hydroxide, Others), By Application (Batteries, Glass & Ceramics, Lubricant, Medical, Polymers, Metallurgy, Others), and Geography Forecast, 2020-2027,” the market was worth USD 4.09 billion in 2019 and will exhibit a CAGR of 9.2% during the forecast period, 2020-2027.

Lithium is a chemical element that is present in natural substances such as rocks. The material is approved for use in several industry verticals, including chemical, electrical, healthcare, and automotive. Accounting to the exceptional properties of lithium, it has been excessively used in applications that require high efficiency as well as durability. The properties such as resistance to external factors and low cost of the product cater to flexible applications. The increasing applications and subsequently rising demand for the product across the world will bode well for the growth of the overall lithium market in the coming years. Moreover, the presence of several large-scale companies in several countries across the world will emerge in favor of the growth of the global market.

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List of companies profiled in the report:

FMC Corporation (India)
Albemarle Corporation (U.S.)
SQM S.A. (Chile)
Tianqi Lithium (Australia)
International Lithium Corp. (China)
LSC Lithium Corporation (Canada)
American Lithium Corp. (Canada)
Livent (U.S.)
Avalon Advanced Materials (Canada)
Sayona Mining Limited (Australia)
Other Key Players
The recent coronavirus outbreak has had a damaging impact on several businesses across the world, with SMEs amongst the categories the worst-hit sectors. As several businesses have come to a complete halt, it is evident that the measures taken to minimize the spread of the disease have ultimately affected several industries across the world. The shortage of manual labor and workforce has been daunting to manufacturers in the lithium market in the past few months. Due to the lack of available laborers, production units have been put on hold. This has resulted in severe economic losses across the world. Having said that the resumptions in business operations, although within constrained boundaries, will provide hope to the companies that have hugely suffered at the hands of the pandemic.

Accounting to Massive Potential for Growth, Companies turn to Strategic Collaborations

The report encompasses several factors that have contributed to the growth of the market in recent years. The rising demand for lithium and lithium derivatives has resulted in strong competition on the global stage. This makes it even more difficult for the companies that are essentially under the SME bracket. As a result, several mid-scale companies are looking to collaborate with other businesses in the mid-range as well as large-scale sectors. In August 2020, Cornish Lithium announced that it will be collaborating with Geothermal Engineering (GEL) for new lithium manufacturing plant. The companies will develop a geothermal Li recovery plant in Cornwall. This unit will deal with the extraction of Li for use in power storage batteries for electric vehicles. An increasing number of such initiatives will have a massive impact on the growth of the overall market in the coming years.

Major Table of Content:

➼ Introduction
➼ Research Scope
➼Market Segmentation
➼ Research Methodology
➼ Definitions and Assumptions
➼ Executive Summary
➼ Market Dynamics
➼ Market Drivers
➼ Market Restraints
➼ Market Opportunities
➼ Key Insights
➼ Key Emerging Trends in the Global lithium Industry
➼ Latest Technological Advancements
➼ Insights on Regulatory Scenario
➼ Porter Five Forces Analysis
➼ Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture

TOC Continued…!

Industry Developments:

May 2020: Manikaran Power Limited announced that it has collaborated with Neo Metals towards developing the first lithium refinery in India. The refinery will have a capacity of 20,000 tons per annum LCE.

Speak to Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/lithium-market-104052

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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