Press release
Primary Catalyst Driving Lithium Metal Market Evolution in 2025: Rapid Expansion Of Electric Vehicle Adoption Fuels Growth In The Lithium Metal Market Driver
Lithium Metal Market
The ascending trend in the adoption of electric vehicles globally is projected to trigger an accelerated development of the lithium metal market. The premise of electric vehicles is a motor fuelled by electricity stored in batteries, forsaking the use of traditional fuels such as gasoline or diesel. Being a vital element in the production of lithium-ion batteries, the principal power source for electric vehicles, lithium metal's importance cannot be underplayed. Supporting this trend, the Global EV Outlook 2022 report by the France-based International Energy Agency states that as of May 2022, electric vehicle sales have almost doubled since 2021, reaching a record peak of 10.2 million units in 2022. The forecast for 2023 anticipates a worldwide sales of electric vehicles up to 14 million units, displaying a growth rate of 35%. Hence, the escalating trend of electric vehicles adoption globally is set to fuel the lithium metal market. The lithium metal market is further stimulated by the escalating demand for consumer electronics worldwide. The term 'consumer electronics' encompasses electronic gadgets specifically intended for daily, personal, or professional usage by consumer-end users. Given its high energy density and durable performance, lithium metal finds itself to be a key player in the mechanisms of consumer electronics, providing power to devices such as smartphones, laptops, and other portable gadgets through lithium-ion batteries. As per the statistics presented by the Japan Electronics and Information Technology Industries Association, a Japan-origin trade association, the total electronic equipment production in Japan hit a high of $52.36 million (¥771,457 million) in May 2023, while consumer electronics production simultaneously climbed to $2.17 million (¥32,099 million), seeing a substantial increase from $1.71 billion (¥25,268 million) in May 2022. Consequently, the surging worldwide demand for consumer electronics is predicted to act as a catalyst driving the lithium metal market.
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What Is the projected market size and growth rate for the lithium metal market?
The lithium metal industry has seen notable expansion over the past few years. Its size is projected to inflate from $3.07 billion in 2024 to an impressive $3.63 billion in 2025, logging a compound annual growth rate (CAGR) of 18.1%. Factors contributing to this significant growth within the historic period include an increase in electric vehicle usage, amplified demand for renewable energy and consumer electronics, as well as growth in the aerospace and defense sectors.
In the coming years, the lithium metal market is projected to witness a fast-paced expansion. The market's valuation is predicted to reach $6.61 billion by 2029, registering a compound annual growth rate (CAGR) of 16.2%. Factors contributing to the anticipated growth in the forecast period include the increased demand for medical devices, investment in supply chains, government regulations, and increased consumer awareness. Furthermore, the market trend for the forecast period includes technological enhancement, development in battery technology, recycling, sustainability, and innovations in lithium extraction.
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What new trends are reshaping the lithium metal market and its opportunities?
Major businesses in the lithium metal market are striving to innovate cutting-edge lithium material with the goal of solidifying their market position. These advanced lithium substances are utilized in creating highly energy-dense lithium batteries. To illustrate, MontaVista Energy Technologies Corporation, a China-based lithium metal battery material and production process specialist, in March 2023, introduced the METARY P series. This new line boasts high-power capacities and high-specific energy. The METARY P Series cells employ a lithium metal anode and a specially optimized non-flammable liquid electrolyte. They offer a high specific energy exceeding 400 Wh/kg. This not only supports long-lasting airtime for commercial drones but also provides high specific power, facilitating safe high-speed lifting and maneuvering ability.
What major market segments define the scope and growth of the lithium metal market?
The lithium metal market covered in this report is segmented -
1) By Source: Salt Lake Brine, Lithium Ores
2) By Application: Lithium Ion-Anode Material, Alloy, Intermediates, Other Applications
3) By End-User: Batteries, Metal Processing, Pharmaceutical, Other End-Users
Subsegments:
1) By Salt Lake Brine: Lithium Carbonate, Lithium Hydroxide
2) By Lithium Ores: Spodumene, Lepidolite, Petalite
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Which region dominates the lithium metal market?
Asia-Pacific was the largest region in the lithium metal market in 2024. The regions covered in lithium metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the lithium metal industry growth?
Major companies operating in the lithium metal market are Sociedad Quimica Y Minera S.A, Albemarle Corporation, Eramet Group, Ganfeng Lithium Co. Ltd., FMC Corporation, Mineral Resources Ltd., Mineral Resources Ltd., Sichuan Yahua Industrial Group Co. Ltd., Shenzhen Chengxin Lithium Group Co. Ltd., Advanced Metallurgical Group NV, Pilbara Minerals Ltd., Livent Corporation, Allkem Limited, Spectrum Chemical Mfg. Corp., Tianqi Lithium Corp, Bisley International LLC, Lithium Americas Corp., Neometals Ltd., American Elements Corp, China Energy Lithium Co. Ltd., Savannah Resources PLC, TruGroup Inc., Chemical-Metallurgical Plant Open Joint Stock Co., Otto Chemie Pvt. Ltd., Li-Metal Corp.
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What Is Covered In The Lithium Metal Global Market Report?
•Market Size Forecast: Examine the lithium metal market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the lithium metal market for a structured understanding.
•Key Players Overview: Analyze major players in the lithium metal market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the lithium metal market.
•Segment Contributions: Evaluate how different segments drive overall growth in the lithium metal market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the lithium metal market.
•Industry Challenges: Identify potential risks and obstacles affecting the lithium metal market.
•Competitive Landscape: Review strategic developments in the lithium metal market, including expansions, agreements, and new product launches.
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