Key
Players
The
global Lithium Mining Market 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, 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 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 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 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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