A new market study, titled “Discover Global Lithium Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
The report is published by DataM Intelligence. This report about the global Lithium Market and its size trends, competitive analysis, share and forecast is published by DataM Intelligence.
The global Lithium market is anticipated to witness substantial growth attributable to increasing demand from the energy sector. Lithium is principally obtained from minerals and continental brines sources like salt lakes and salt flats. The largest reserve of the merchandise is settled within the desert of Chile. The location is accountable for nearly a third of the world output. The location is operated by Albemarle Corporation and SQM S.A, leading makers of the trade.
The product is found in nearly one hundred forty-five mineralogical species. However, the commercially viable minerals area unit solely few, like petalite, spodumene, and isinglass. Different sources of the merchandise embrace oil field brine, energy brines, matter clays, and ocean water. The majority of the merchandise is sourced from the continental brines.
Lithium is among the foremost torrential components. The reserves area unit, for the most part, targeted in countries like Argentina, Chile, Australia, and China. As per USGS statistics, in 2017, the world production was around forty-three thousand metric tons, whereby Argentina, Chile, and Australia accounted for nearly eighty-nine percent of the world production.
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However, some facilities aren’t well equipped to provide Lithium hydroxide at business viable rates because it needs further investments. Additionally, strong demand from electrical vehicle makers resulted in tight provide of the merchandise and eventually surge within the costs in 2017. Alternate viable sources for the assembly of Lithium hydroxide are from rock deposits in Australia and China whereby investment for the comes has already started. It’s expected that these new comes area unit probably to extend the world production capability by nearly seventieth over the approaching years.
Energy storage, air treatment, glasses and ceramics, and greases and lubricants area unit a number of the foremost applications within the market. Energy storage will any embrace moveable electronic devices, hybrid vehicles, battery electric vehicles, and power storage. It’s probably to witness a major growth of nearly thirty-fifth percent from 2007 to 2017 attributable to miniaturization of electronic devices, exponential growth within the battery based mostly transportation, rising quality of sensible grids, and growing demand from hybrid and battery electric vehicles. The growth of electric vehicles is anticipated to extend by nearly nine million units from 2018 to 2025.
The Lithium market is divided into Types like, Carbonate, Metal, Concentrate, Chloride, Alloys, and Hydroxide.
Also, based on Application, the market is divided into Lubricants, Batteries, , Aluminium Smelting & Alloys, Medical, Automotive Parts, glass, Air Treatment, Glass Ceramics, Metallurgy (Steel & Iron Castings), Polymers and Other Applications.
By End-user Industry, the market is parted into Consumer Electronics, Electric Vehicles, Energy Storage (and E-bikes), Industrial and Medical.
Furthermore, the global and regional market is based in North America, South America, Europe and the Asia Pacific.
Key Players of Global Lithium Market =>
The report also profiles few key manufacturers, which include Altura Mining Limited, Albermarle, Critical Elements Corporation, Avalon Advanced Materials Inc., Galaxy Resources Limited, FMC, Lithium Americas, Jiangxi Ganfeng Lithium Co. Ltd., SQM and Sichuan Tianqi Lithium Industries.
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