Global Lithium Market Demand Outpaces Supply To 2031 | Galaxy Resources Limited, Jiangxi Ganfeng Lithium Co. Ltd, Lithium Americas, Sichuan Tianqi Lithium Industries

Global 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% As per DataM Intelligence Database during the forecast period 2024-2031.

The Lithium Market Report by DataM Intelligence delivers comprehensive insights into key market trends, growth drivers, and emerging challenges. With a focus on providing actionable intelligence, DataM Intelligence enables businesses to make informed strategic decisions and maintain a competitive edge. Leveraging both qualitative and quantitative research methodologies, the report offers in-depth analysis to help clients navigate complex market dynamics, identify new opportunities, and accelerate growth in today's rapidly evolving global landscape.

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Lithium is a lightweight, highly reactive metal primarily used in the production of rechargeable lithium-ion batteries, which power electric vehicles (EVs), portable electronics, and grid-scale energy storage systems. It also finds applications in glass, ceramics, and pharmaceuticals. Driven by the global push toward clean energy and decarbonization, the lithium market is experiencing rapid growth, with rising demand fueling investments in mining, refining, recycling, and alternative lithium extraction technologies.

List of the Market Players in the Lithium Market:

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

Industry News:

On March 13, 2023, MontaVista Energy Technologies Corporation unveiled its latest Lithium Metal Battery (LMB) lineup, the METARY P series, designed to deliver both high power output and high specific energy. During in-flight tests conducted by multiple drone developers, commercial drones using MontaVista's LMBs achieved 60-80% longer flight times compared to those powered by conventional lithium-ion batteries.

On March 20, 2023, Mitsubishi Logisnext Americas Group launched Triathlon lithium-ion battery and charger solutions for its UniCarriers forklift product line. These advanced battery systems will be offered as a factory-installed option on most UniCarriers Class I and III forklift models across North and Latin America.

Research Methodlogy:

The global Lithium Market research report utilizes both primary and secondary data sources to provide a well-rounded analysis. Throughout the research process, various influential factors are assessed-including regulatory frameworks, current market dynamics, historical trends, competitive landscape, technological progress, upcoming innovations, and related industry developments. The report also considers market volatility, growth prospects, potential barriers, and emerging challenges to offer a comprehensive view of the market environment.

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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)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➤ What are the global sales, production, consumption, import, and export figures for the Lithium market?
➤ Who are the key players, and how do they perform in terms of capacity, output, pricing, and revenue?
➤ What major opportunities and challenges exist for vendors in this market?
➤ Which product types and end-user segments show the most growth potential and market share?
➤ What are the main growth drivers and restraints in the Lithium market?
➤ What sales, marketing, and distribution channels are commonly used?

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