Key
Players
The
global Lithium Mining Market Size has been dominated by key players such as SQM
(Chile), Albemarle Corporation (U.S.), Tianqi Lithium Corporation (China), FMC
Lithium (U.S.), LITHIUM AMERICAS (Canada.), Jiangxi Ganfeng Lithium Co., Ltd.
(China), Nemaska Lithium (Canada), MGX Minerals Inc (Canada), Wealth Minerals
Ltd (Canada), and Galaxy Resources Limited (Australia).
Market Overview:
Lithium mining is a
procedure applied widely for extracting the metal from different sources such
as hard rocks and brines. It is the lightest solid and metal element found in
nature. Furthermore, its thermal resistance, high energy density, minimal
maintenance, and long durability are the significant factors and trends driving
the market confidently. Therefore, they are finding various applications such
as glass, batteries, air conditioning equipment, grease, and others.
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Among
the different segments in Lithium Mining Market Size, the brines source segment
has observed a noteworthy growth owing to its cost-effective and efficient
process. Due to its economic property, the manufacturers in several nations
obtain raw materials or have developed their own brines from different
producers. Additionally, the increasing demand for brine source producing
lithium has been set to lead the market over the forecast period. Moreover, the
growing demand for the metal in ceramic glass, air-conditioning equipment, and
greases are likely to propel the market owing to its enhanced strength and
reduced weight offered by the product.
Market
Segmentation
The
global Lithium Mining Market Size has been segmented based on type,
application, and source. Based on type, the market has been segmented into
lithium carbonate, lithium hydroxide, and others. Based on application, the
market has been segmented into air conditioning equipment, batteries, grease,
glass, and others. Based on source, the market has been segmented into hard
rocks and brines.
Regional
Analysis
Geographically, the Lithium
Mining Market Size has been segmented into North America, Asia Pacific, Latin
America, the Middle East & Africa, and Europe.
The North American
market has been expanding substantially owing to increasing production of
lithium-ion batteries in electronics & electrical industries. It has been
projected that surging investments in the end-use industries is likely to
propel the market over the forecast period. The increasing consumption of metal
in grease, air conditioning equipment, and glass segments has boosted the
demand in nations such as Canada, Mexico, and the U.S. The demand is owing to
attain a striking development in the market as they offer thermal resistance, high
standard performance, and unique lightweight properties to the product.
Asia Pacific represents
a major share of the Lithium Mining Market Size owing to the rising
adoption of glass, lightweight metal in batteries, air conditioning equipment,
grease, and others. The batteries segment holds the key portion and is expected
to dominate the market owing to extraordinary features offered by the metal
such as energy density, high efficiency, and other features. As a result,
nations such as Japan, China, India, and South Korea have become the key
players in this market.
The Middle East &
Africa region has been projected to experience a standard development in the
market owing to the surging demand for light weight metal in tablets,
smartphones, and other electronic gadgets. Besides, Latin America is expected
to witness an increased growth in the market owing to augmenting demand for
lithium in the end-use industries.
The Europe
market has witnessed a remarkable development owing to strict regulations
and rules applied by the regional governments to incorporate lightweight
products in end-use industries. The market has been influenced by the
application of such rules in glass, batteries, air conditioning equipment, and
grease segments. It has been anticipated that the surging innovation and
technological progress in lithium-ion batteries, and other products are
anticipated to drive the growth in the nations such as the Italy, U.K, France,
and Germany.
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