Lithium Metal Market Share: In-Depth Analysis, Growth Opportunities, Key Trends, and Forecast till 2028

The Lithium Metal Market is set for strong growth, driven by rising demand in batteries, aerospace, and pharmaceuticals. With the shift towards EVs and renewable energy storage, lithium metal plays a crucial role in next-gen battery tech. Advancements in production and recycling will further shape its future market expansion.
The lithium metal market is projected to grow from USD 2.5 billion in 2023 to USD 6.4 billion by 2028, at a CAGR of 20.4% from 2023 to 2028. The research study includes information on market factors such as the lithium metal market dynamics [https://www.marketsandmarkets.com/Market-Reports/lithium-metal-market-48900800.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=lithiummetal], drivers, restraints, challenges, threats, potential growth opportunities, market trends, development patterns, financial information, latest technologies, innovations, leading competitors, and regional analysis of the market. The market's growth is driven by the rising demand for lithium metal in various applications such as anode material, intermediate in the pharmaceutical industry, and metal processing. The major factors driving the lithium metal market are consumption in diversified applications, such as batteries, metal processing, and intermediates in pharmaceuticals, among others. The primary factor driving the lithium metal market is its usage in lithium metal batteries.

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By source, the salt lake brine segment accounted for the highest share of the lithium metal market from 2023 to 2028.

The salt lake brine segment, by source, market accounted for the largest share. The use of brine as a source of lithium is becoming increasingly popular, as it is a more cost-effective and environmentally friendly alternative to traditional mining methods. Also, brine deposits containing lithium are more abundant compared to hard rock lithium deposits. Many regions around the world hold significant lithium resources in brine form. Brine extraction typically involves lower production costs compared to hard rock mining. Brine deposits are often located near the surface, requiring less extensive and expensive mining operations.

By application, the lithium-ion anode material segment accounted for the highest share of the lithium metal market from 2023 to 2028.

The lithium-ion anode material segment, by application, accounted for the highest share. In a lithium-metal battery, an anode is made of pure lithium metal. Lithium metal batteries have a higher energy density compared to lithium-ion batteries. This means they can store more energy per unit of weight or volume, allowing for longer-lasting power and potentially enabling smaller and lighter battery designs. Also, Lithium metal batteries typically have a higher voltage than lithium-ion batteries. This higher voltage output can be advantageous for applications that require higher power or voltage levels. Such factors are enhancing the usage of lithium metal batteries during the forecast period.

Asia Pacific is the largest region in the Lithium metal market.

The increasing use of lithium metal batteries in various countries is the major driving factor of the lithium metal market in the region. The region is one of the major manufacturers and exporters of lithium metal. It has various lithium metal manufacturers, such as Ganfeng Lithium Co., Ltd. (China), Tianqui Lithium Industries Inc. (China), and Shenzhen Chengxin Lithium Group Co., Ltd. (China), which hold significant market share. Asia Pacific is a major battery manufacturer across the globe, and battery is the largest application for lithium metal batteries, thus is expected to boost the market for lithium metal during the forecast period.

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Also, Governments in the Asia Pacific region have been actively supporting the development of the lithium metal industry. They are implementing favorable policies, providing subsidies, and investing in research and development to promote the domestic production and use of lithium-metal batteries. These initiatives are driving the growth of the lithium metal market in the region.

Lithium Metal Companies [https://www.marketsandmarkets.com/ResearchInsight/lithium-metal-market.asp?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=lithiummetal]

Companies such as Ganfeng Lithium Co., Ltd. (China), Tianqui Lithium Industries Inc. (China), Shenzhen Chengxin Lithium Group Co., Ltd. (China), Albemarle Corporation (US), Livent Corporation (US) fall under the winners' category. These are leading players in the Lithium metal market globally. These players have adopted the strategies of investments, expansions, product launches, mergers and acquisitions, joint ventures, and agreements to fulfill the rising demand for lithium metal on the regional and global levels.

Ganfeng Lithium Co., Ltd. is a global leader in the business of lithium metal. It manufactures lithium metal for battery and pharmaceutical applications. In June 2020, Ganfeng Lithium and BMW, have formed a long-term strategic cooperative relationship and signed an agreement to meet German BMW's demand for lithium raw materials for battery production, as well as to provide a reliable supply of lithium raw materials for BMW's electric vehicle production capacity and cost.

Tianqui Lithium Industries Inc. is one of the leading companies in the lithium metal market. The company offers lithium metal to cater to various industries. The company currently operates in Australia, China, and Hong Kong. Tianqi Lithium acquired a 23.77% stake in Sociedad Quimica Y Minera De Chile (SQM), Chile's mining company, for USD 4 billion. This acquisition made the global position of the company strong.

Shenzhen Chengxin Lithium Group Co., Ltd. is a leading company in the lithium metal business. It operates a lithium metal business under the subsidiary company Shengwei Lithium Industry with a production capacity of 1000 tons which is expected to reach 1600 tons in upcoming years. The company's primary business is the manufacture and sale of new energy lithium battery materials.

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Albemarle Corporation is the world's leading Lithium company. The company operates in four segments, namely Lithium, Bromine Specialties, Catalysts, and All others, and has one of the most diversified product offerings in the lithium derivatives industry. The company sources its lithium from Chile, the US, and, most recently, Australia. In October 2022, the subsidiary company of Albemarle Corporation, Albemarle Lithium UK Limited, acquired a cent percent stake in Guangxi Tianyuan New Energy Materials Co., Ltd. for approximately USD 200 million. This acquisition will strengthen the company's ability to meet global demand for battery-grade lithium.

Livent Corporation specializes in manufacturing and selling various grades of lithium metal in performance applications like energy storage, greases, pharmaceuticals, polymer production, and aerospace material manufacturing. Livent predominantly extracts ores in the lithium manufacturing process from lithium brines in Argentina and China.

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