Lithium Market Accelerates on EV & Energy Storage Boom, Fueled by New Spodumene Mines, Brine DLE Tech, Recycling Initiatives & Vertical Integration

Lithium Market reached US$ 9.3 billion in 2023 and is expected to reach US$ 38.8 billion by 2031, growing with a CAGR of 19.5% during the forecast period 2024-2031.

Lithium Market is positioned for robust growth, with advancements in [relevant tech or sector] and shifting market dynamics reshaping the competitive landscape. DataM Intelligence's new report provides data-driven insights, SWOT analysis, and marketing-ready intelligence for businesses seeking to improve market penetration and campaign ROI.

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Lithium Market Overview & Landscape:
The lithium market covers the mining, refining, and distribution of lithium compounds primarily lithium carbonate and hydroxide essential for rechargeable batteries, glass & ceramics, and specialty lubricants. With the surge in electric vehicle (EV) deployment and grid‐scale energy storage, demand has outpaced supply, prompting expansion of hard‐rock and brine extraction projects. Sustainability concerns and geopolitical factors are driving investments in recycling, downstream processing, and diversified mining jurisdictions.

Recent Key Developments:

Commissioning of multiple large‐scale spodumene operations in Australia to boost battery‐grade lithium output.

Major EV OEM signing offtake agreements securing long‐term lithium hydroxide supply from South American brine projects.

Launch of pilot lithium‐ion battery recycling plants in Europe and North America to recover lithium and critical metals.

Advances in direct‐lithium‐extraction (DLE) technologies allowing faster, lower‐water brine processing.

Strategic investments by battery companies in lithium refining capacity to vertically integrate supply chains.

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Strategic Players Driving the Lithium Market Forward :

Albermarle, Altura Mining Limited, Avalon Advanced Materials Inc., Critical Elements Corporation, FMC, Galaxy Resources Limited, Jiangxi Ganfeng Lithium Co. Ltd., Lithium Americas, Sichuan Tianqi Lithium Industries, and SQM.

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Segment Covered in the Lithium Market:

By Type - Alloys, Metal, Chloride, Carbonate, Hydroxide, Concentrate

By Application - Batteries, Lubricants, Automotive Parts, Aluminum Smelting & Alloys, Medical, Glass and Glass Ceramics, Air Treatment, Metallurgy, Polymers, Others

By End User - Consumer Electronics, Electric Vehicles, Energy Storage, Industrial, Others

Regional Analysis for Lithium Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Most Frequently Asked Questions in the Lithium Market Research Industry:

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