Direct Lithium Extraction Technology Services Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

According to new survey, global Direct Lithium Extraction Technology Services market is projected to reach US$ 811 million in 2029, increasing from US$ 52 million in 2022, with the CAGR of 48.7% during the period of 2023 to 2029.

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Direct Lithium Extraction Technology Services Market Trends

The rising need for lithium, particularly in relation to energy storage solutions, is driving the expansion of the Direct Lithium Extraction (DLE) Technology Services market. Efficient lithium extraction methods are in high demand due to the growing need for grid-scale energy storage systems and the growing market for electric vehicles (EVs). DLE services are essential for satisfying the demands of the quickly expanding energy storage industry since they provide a simplified method for lithium recovery. Technological developments in sustainable resource extraction have a major impact on the market expansion for DLE Technology Services. Industries are looking for more environmentally friendly ways to produce lithium as environmental issues gain traction.

The need for local lithium manufacturing is a major factor propelling the DLE Technology Services market, particularly in areas where the EV industry is expanding. Nations striving to create a safe and independent lithium supply chain are investing in technology that facilitate effective domestic extraction. In order to achieve this objective and guarantee a localized and sustainable source of lithium, DLE services are essential. DLE Technology Services has grown as a result of worries about the environmental effects of conventional lithium extraction techniques including hard rock mining and evaporation ponds. The environmental effects of conventional extraction are being examined more closely by communities, environmental organizations, and regulatory agencies. To solve these issues and promote responsible resource management, DLE technologies provide a more sustainable and clean alternative.

The market for DLE Technology Services gains from the increase in expenditures made in technology related to lithium extraction. The increasing use of lithium in a variety of sectors, such as batteries, electronics, and renewable energy, has led to a greater emphasis on creating and implementing sophisticated extraction techniques. The uptake of DLE services as a cutting-edge technology in the field of lithium extraction is accelerated by this infusion of capital. The DLE Technology Services market is expanding due in large part to advancements in technology and improvements in process efficiency. The goal of ongoing research and development is to improve the efficiency and economy of DLE techniques. Furthering market growth, the advancement of these technologies guarantees that businesses utilizing DLE services may extract lithium with increased yields, reduced expenses, and little environmental effect.

Direct Lithium Extraction Technology Services Market Share

Global key players of direct lithium extraction technology services include Lilac Solutions, Sunresin, Jiuwu Hi-tech, etc. The top three players hold a share over 70%. North America is the largest market, has a share about 42%, followed by Asia-Pacific, with share 35%. In terms of product type, sorbent extraction is the largest segment, occupied for a share of 64%, and in terms of application, salt lake brine extraction has a share about 96 percent.

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By Type
• Sorbent Extraction
• Ion Exchange
• Solvent Extraction

By Application
• Salt Lake Brine Extraction
• Deep Brine Extraction

Key Players
Lilac Solutions, Sunresin Inc., Jiuwu Hi-tech, TUS-MEMBRANE, Summit Nanotech, EnergySource Minerals LLC, E3 LITHIUM, SLB, Energy Exploration Technologies, Standard Lithium, International Battery Metals Inc, Xinjiang Tailixin Mining Co., Ltd.

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This release was published on openPR.