Lithium Mining Market Size, Share, Demand, Revenue & Growth by 2032
The global lithium mining market is anticipated to accrue a value of US$ 3.4 billion in 2032,
as opposed to a valuation of US$ 1.66 billion in 2022. The target market is set to expand at a
healthy CAGR of 7.43% from 2022 to 2032. Factors like the escalating adoption of lithium in
glass and ceramic manufacturing and the emergence of electronic vehicles that augment the
demand for lithium-ion batteries facilitate the growth of the lithium mining market. The
ongoing technological innovations and widespread lithium use in air treatment also drive the
expansion of the lithium mining market size during the forecast period.
The shift witnessed in the design and advancement of battery technology along with concerns
regarding the decline in fossil fuels will likely stimulate market growth for lithium mining.
The fall in the availability of fossil fuels, rising carbon emissions, and emphasis on
alternative sources of power encourage greater lithium mining. As it is estimated that lithium
mining will fulfill the void created by the above-mentioned factors. In addition to this, the
development of advanced technology in the automotive sector will foster an environment of
growth for the lithium mining market in the upcoming years.
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Recent years have observed an escalating demand for electronic vehicles which, in turn, will
strengthen prospects for lithium mining. Further, increasing technological progress in the
electrification of two/ three-wheelers, buses, and trucks will further propel the demand for
electric vehicles. Rising demand for electronic vehicles fuels the demand for lithium-ion
batteries which augurs well for the lithium mining market. Increasing government support,
the commencement of different projects like Kathleen Valley and others, and elevated
product innovation and development by market players are a few of the other factors that will
drive the growth of the lithium mining market during the projection period.
Key Takeaways:

Growing awareness of the adverse effects of lithium mining on the environment will
impede the growth of the lithium mining market during 2022 and 2032.

An upsurge in demand for lithium in the manufacturing of glass and ceramics will
open new avenues of growth for the market.

The Asia Pacific region will emerge as an opportunistic market for the lithium mining
market due to significant lithium production in Australia and China.

The lithium mining market in Europe will expand at 4.8% CAGR due to favorable
government initiatives.

By type, lithium carbonate mining will gain traction with a CAGR of 8% owing to
rising hard rock and brine activities.

In terms of source, brine lithium will account for 65% of the overall market share.
Competitive Landscape
SQM, Orocobre, Lithium Americas Corp., Pilbara Minerals, Albemarle, Livent, Ganfeng
Lithium, Nemsaka Lithium, BuLi Chemicals India Pvt. Ltd., and Minera Del Altiplano,
among others, are some of the principal players in the lithium mining market profiled in the
full version of the report.
Eminent market players are keen on strategic agreements, acquiring grants, and other
business expansion tactics. These organizations also employ partnerships, collaborations,
mergers, and acquisitions to gain a competitive advantage.
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