Market Synopsis:
Lithium Mining is a process used for obtaining the metal from various sources such as brines, and hard rocks. It is the lightest metal and solid element found in nature. Moreover, its high energy density, thermal resistance, long durability, and minimal maintenance are the important trends and factors influencing the market confidently. Therefore, they are used in various applications such as batteries, glass, grease, air conditioning equipment, and others
The Global Lithium Mining Market has been driven by the range of its application in various uses such as batteries, glass, grease, air conditioning equipment, and others. Moreover, it is estimated that the batteries segment is set to witness the highest growth in the market due to the growing consumption of lithium to impact economic and extended life nature to the product. The brines segment is the most widely adopted source where lithium is produced. Its cost effective nature and ease of application are the major factors behind the popularity of this segment, which makes it suitable for various applications such as batteries, glass, and others.
Among the various segments in Lithium Mining Market, the brines source segment has witnessed a significant growth due to its efficient and cost-effective process. Due to its economic nature, the manufacturers in various countries have developed their own brines or acquire raw materials from various producers. Moreover, the growing demand for brine source producing lithium is set to dominate the market over the assessment period.
The market by type is further classified into lithium hydroxide and lithium carbonate. Among these, lithium hydroxide is leading the market due to superior and high standard performance offered by the product. This product is widely used as a mineral concentrate which makes them suitable for various applications such as glass, ceramics, and metal castings. The market by application is segregated into batteries, glass, grease, air conditioning equipment, and others.
Top Market Players of Lithium Mining Market are:
Albemarle Corporation (U.S.), SQM (Chile), FMC Lithium (U.S.), Tianqi Lithium Corporation (China), Jiangxi Ganfeng Lithium Co., Ltd. (China), LITHIUM AMERICAS (Canada.), MGX Minerals Inc (Canada), Nemaska Lithium (Canada), Galaxy Resources Limited (Australia), and Wealth Minerals Ltd (Canada), among others.
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Lithium Mining Market Region Spanned:
Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa
Among these, Asia Pacific holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for the lightest metal in various applications. Countries such as China, Japan, and India are the major players in this region.
The North American region is estimated to witness a higher growth in the U.S., Canada, and Mexico owing to increasing demand for lithium in glass, grease, air-conditioning equipment, and other systems. The enactment of new rules and regulations set by the European Union has driven the manufacturers to use reduced weight materials in end-use industries. Moreover, it is projected that the advancing research & development of lithium-ion technologies in the market has propelled this region to witness a significant growth in Germany, the U.K, and Italy.
The Middle East & Africa is estimated to observe a significant growth due to an increased consumption of lithium in smartphones, tablets, and other electronics accessories.
Additionally, the growing demand for lightweight metal in glass and ceramics industries is projected to boost the market in the Latin American region.
Market Segment:
The Global Lithium Mining Market is segmented into the source, type, and application.
On the basis of source, the market is segregated into brines and hard rocks segments.
The market by type is further categorized into lithium hydroxide and lithium carbonate segments.
The market by application is further categorized into batteries, glass, grease, air conditioning equipment, and others.
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Intended Audience
- Lithium Mining Market Manufacturers
- Traders and Distributors of Lithium Mining Market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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