Global Lithium Mining Market Size is valued at USD 419.6 Mn in 2024 and is predicted to reach USD 839.1 Mn by the year 2034 at an 7.3% CAGR during the forecast period for 2025-2034.
The process of lithium mining is used to extract metal from a variety of sources, including brines and hard rocks. It is a solid element and the lightest metal ever discovered by nature. Its high energy density, thermal resistance, extended durability, and low maintenance requirements positively influence the market. As a result, they have a wide range of uses, including in manufacturing batteries, glass, grease, and air conditioning systems.
The rising demand for lithium-based batteries for electric vehicles is to blame for the market's expansion. Market expansion is anticipated to be aided by rising global demand for EVs, supported by programs to reduce carbon emissions. Additionally, it is anticipated that increased public-private investment in the mining sector will promote market expansion.
Another essential element anticipated to fuel market expansion is the rising sales of battery-powered electric vehicles (BEVs). The International Energy Agency (IEA) reports that 2,008,024 BEVs were sold globally in 2020, an increase from the 1,542,867 vehicles sold in 2019. The adoption of clean fuel to reduce vehicle pollution is becoming increasingly popular, which is expected to boost market expansion.
Market Segmentation:
The lithium mining market is segmented on the source, type, and end-use. Based on the source, the market is segmented into hard rock, brine and others. Based on type, the lithium mining market is segmented into chloride, lithium hydroxide, carbonate and concentrate. Based on end-use, the lithium mining market is segmented into flux powder, polymers, batteries, refrigeration, air conditioning equipment, glass & ceramics (frits), grease & lubricants, pharmaceuticals and others.
The hard rock category grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the scheduled time. Due to its extensive output via brines and hard rock mining, lithium carbonate accounts for the majority of mining. It contributes to the bulk of metal produced since it is simple to create. It is widely utilized to address issues connected to mental health in the glass and ceramic industries and the medical field. The concentrate market is also indirectly anticipated to expand as a result of the increased complex rock mining activity around the world. With new technological developments in the brine manufacturing process, a boost in chloride production is anticipated, and this expansion will be very rapid.
The batteries category is anticipated to grow significantly over the forecast period. Lithium-ion batteries' rising popularity is anticipated to fuel this segment's revenue growth. Compared to lead-acid and other lithium batteries, lithium iron phosphate batteries provide a variety of advantages, such as improved discharge and charge efficiency, a longer lifespan, and the ability to deep cycle while maintaining power. These batteries often cost more upfront, but their lifetime expenses are significantly lower. They have a long lifespan and don't need any maintenance, making them an excellent long-term decision. Lithium batteries can also live up to 10 times longer than lead-acid batteries and maintain 80% of their nominal capacity even after 2,000 cycles.
The Asia Pacific lithium mining market is expected to register the highest market share in revenue in the near future because more and more products, like batteries, glass, grease, and air conditioning equipment, are made of lightweight metal. Due to the remarkable qualities that the metal offers, including high efficiency, energy density, and other qualities, the batteries category currently has the lion's share and is predicted to maintain its dominance in the market. In addition, North America is projected to increase in the global lithium mining market because the electrical and electronic sectors are producing more lithium-ion batteries. The market is anticipated to be driven by increasing end-use industry investments throughout the projected period.
|
Report Attribute |
Specifications |
|
Market size value in 2024 |
USD 419.6 Mn |
|
Revenue forecast in 2034 |
USD 839.1 Mn |
|
Growth rate CAGR |
CAGR of 7.3% from 2025 to 2034 |
|
Quantitative units |
Representation of revenue in US$ Mn , Volume (KT) and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Source, Type, And End-use |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Ganfeng Lithium Co., Ltd., Albemarle Corporation, Tianqi Lithium Corp., SQM S.A., Pilbara Minerals Limited, Livent, Orocobre Limited Pty Ltd., Mineral Resources, Lithium Americas Corporation and Piedmont Lithium, Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. Find purchase alternatives. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Lithium Mining Market Snapshot
Chapter 4. Global Lithium Mining Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Source Estimates & Trend Analysis
5.1. by Source & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Source:
5.2.1. Hard Rock
5.2.2. Brine
5.2.3. Others
Chapter 6. Market Segmentation 2: by Type Estimates & Trend Analysis
6.1. by Type & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Type:
6.2.1. Chloride
6.2.2. Lithium Hydroxide
6.2.3. Carbonate
6.2.4. Concentrate
Chapter 7. Market Segmentation 3: by End-use Estimates & Trend Analysis
7.1. by End-use & Market Share, 2024 & 2034
7.2. Market Size (Value (US$ Mn) & Volume (KT)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by End-use:
7.2.1. Flux Powder
7.2.2. Polymers
7.2.3. Batteries
7.2.4. Refrigeration
7.2.5. Air Conditioning Equipment
7.2.6. Glass & Ceramics (Frits)
7.2.7. Grease & Lubricants
7.2.8. Pharmaceuticals
7.2.9. Others
Chapter 8. Lithium Mining Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Source, 2021-2034
8.1.2. North America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Type, 2021-2034
8.1.3. North America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by End-use, 2021-2034
8.1.4. North America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2021-2034
8.2. Europe
8.2.1. Europe Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Source, 2021-2034
8.2.2. Europe Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Type, 2021-2034
8.2.3. Europe Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by End-use, 2021-2034
8.2.4. Europe Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2021-2034
8.3. Asia Pacific
8.3.1. Asia Pacific Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Source, 2021-2034
8.3.2. Asia Pacific Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Type, 2021-2034
8.3.3. Asia-Pacific Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by End-use, 2021-2034
8.3.4. Asia Pacific Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2021-2034
8.4. Latin America
8.4.1. Latin America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Source, 2021-2034
8.4.2. Latin America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Type, 2021-2034
8.4.3. Latin America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by End-use, 2021-2034
8.4.4. Latin America Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2021-2034
8.5. Middle East & Africa
8.5.1. Middle East & Africa Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Source, 2021-2034
8.5.2. Middle East & Africa Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by Type, 2021-2034
8.5.3. Middle East & Africa Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by End-use, 2021-2034
8.5.4. Middle East & Africa Lithium Mining Market Revenue (US$ Million) & Volume (KT) Estimates and Forecasts by country, 2021-2034
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Ganfeng Lithium Co., Ltd.
9.2.2. Albemarle Corporation
9.2.3. Tianqi Lithium Corp.
9.2.4. SQM S.A.
9.2.5. Pilbara Minerals Limited
9.2.6. Livent
9.2.7. Orocobre Limited Pty Ltd.
9.2.8. Mineral Resources
9.2.9. Lithium Americas Corporation
9.2.10. Piedmont Lithium, Inc.
9.2.11. Other Prominent Players
Segmentation of Lithium Mining Market-
Lithium Mining Market By Source
Lithium Mining Market By Type
Lithium Mining Market By End-Use
Lithium Mining Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
