by The global lithium market size was estimated to be around US$ 8.8 billion in 2023 and is projected to reach US$ 28.45 billion by 2033, indicating a CAGR of 12.50% from 2024 to 2033.
Key Points
- Asia-Pacific contributed 59% of market share in 2023.
- North America is estimated to expand the fastest CAGR between 2024 and 2033.
- By product, the carbonate segment has held the largest market share of 55% in 2023.
- By product, the hydroxide segment is anticipated to grow at a remarkable CAGR of 13.3% between 2024 and 2033.
- By application, the automotive segment generated over 41% of market share in 2023.
- By application, the consumer electronics segment is expected to expand at the fastest CAGR over the projected period.
The market research report on the lithium market provides a comprehensive analysis of various key aspects. It includes the definition, classification, and application of lithium products. The report examines the development trends, competitive landscape, and industrial chain structure within the industry. Furthermore, it presents an overview of the industry, analyzes national policies and planning, and offers insights into the latest market dynamics and opportunities at a global level.
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Lithium Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 12.50% |
| Global Market Size in 2023 | USD 8.8 Billion |
| Global Market Size by 2033 | USD 28.45 Billion |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Product and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: US Healthcare Facilities Management Market Size, Growth Report 2033
The report presents the volume and value-based market size for the base year 2022 and forecasts the market’s growth between 2023 and 2032. It estimates market numbers based on product form and application, providing size and forecast for each application segment in both global and regional markets.
Focusing on the global lithium market, the report highlights its status, future forecasts, growth opportunities, key market players, and key market regions such as the United States, Europe, and China. The study aims to present the development of the lithium market by considering factors like Year-on-Year (Y-o-Y) growth, in addition to Compound Annual Growth Rate (CAGR). This approach enables a better understanding of market certainty and the identification of lucrative opportunities.
Regarding production, the report investigates the capacity, production, value, ex-factory price, growth rate, and market share of major manufacturers, regions, and product types. On the consumption side, the report focuses on the regional consumption of lithium products across different countries and applications.
Buyers of the report gain access to verified market figures, including global market size in terms of revenue and volume. The report provides reliable estimations and calculations for global revenue and volume by product type from 2023 to 2032. It also includes accurate figures for production capacity and production by region during the same period.
The research includes product parameters, production processes, cost structures, and data classified by region, technology, and application. Furthermore, it conducts SWOT analysis and investment feasibility studies for new projects.
This in-depth research report offers valuable insights into the lithium market. It employs an objective and fair approach to analyze industry trends, supporting customer competition analysis, development planning, and investment decision-making. The project received support and assistance from technicians and marketing personnel across various links in the industry chain.
The competitive landscape section of the report provides detailed information on xx market competitors. It includes company overviews, financials, revenue generation, market potential, research and development investments, new market initiatives, global presence, production sites, production capacities, strengths and weaknesses, product launches, product range, and application dominance. However, the data points provided only focus on the companies’ activities related to the lithium market.
Prominent players in the market are expected to face tough competition from new entrants. Key players are targeting acquisitions of startup companies to maintain their dominance. The report
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Lithium Market Companies
- Albemarle Corporation
- SQM (Sociedad Química y Minera de Chile)
- Tianqi Lithium Corporation
- Ganfeng Lithium
- FMC Corporation
- Livent Corporation
- Jiangxi Ganfeng Lithium Co., Ltd.
- Lithium Americas Corp.
- Galaxy Resources Limited
- Orocobre Limited
- Pilbara Minerals Limited
- Nemaska Lithium Inc.
- Critical Elements Lithium Corporation
- Altura Mining Limited
- Mineral Resources Limited
Segments Covered in the Report
By Product
- Carbonates
- Hydroxide
- Others
By Application
- Automotive
- Consumer Electronics
- Grid Storage
- Glass & Ceramics
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Lithium Market
5.1. COVID-19 Landscape: Lithium Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Lithium Market, By Product
8.1. Lithium Market Revenue and Volume, by Product, 2024-2033
8.1.1. Carbonates
8.1.1.1. Market Revenue and Volume Forecast (2021-2033)
8.1.2. Hydroxide
8.1.2.1. Market Revenue and Volume Forecast (2021-2033)
8.1.3. Others
8.1.3.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 9. Global Lithium Market, By Application
9.1. Lithium Market Revenue and Volume, by Application, 2024-2033
9.1.1. Automotive
9.1.1.1. Market Revenue and Volume Forecast (2021-2033)
9.1.2. Consumer Electronics
9.1.2.1. Market Revenue and Volume Forecast (2021-2033)
9.1.3. Grid Storage
9.1.3.1. Market Revenue and Volume Forecast (2021-2033)
9.1.4. Glass & Ceramics
9.1.4.1. Market Revenue and Volume Forecast (2021-2033)
9.1.5. Others
9.1.5.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 10. Global Lithium Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.1.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.1.3.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.1.4.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.2.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.2.3.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.2.4.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.2.5.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.2.6.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.3.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.3.3.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.3.4.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.3.5.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.3.6.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.4.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.4.3.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.4.4.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.4.5.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.4.6.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.5.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.5.3.2. Market Revenue and Volume Forecast, by Application (2021-2033)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, by Product (2021-2033)
10.5.4.2. Market Revenue and Volume Forecast, by Application (2021-2033)
Chapter 11. Company Profiles
11.1. Albemarle Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. SQM (Sociedad Química y Minera de Chile)
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Tianqi Lithium Corporation
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Ganfeng Lithium
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. FMC Corporation
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Livent Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Jiangxi Ganfeng Lithium Co., Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Lithium Americas Corp.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Galaxy Resources Limited
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Orocobre Limited
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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