Major players in the lithium market include Albemarle Corporation, Sociedad Química y Minera, FMC Corporation, Sichuan Tianqi Lithium Industries Inc. and Jiangxi Ganfeng Lithium Co. Ltd. The global lithium market will grow from $6.2 billion in 2022 to $7.25 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%.
New York, April 11, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Lithium Global Market Report 2023” – https://www.reportlinker.com/p06320369/?utm_source=GNW
Major players in the lithium market include Albemarle Corporation, Sociedad Química y Minera, FMC Corporation, Sichuan Tianqi Lithium Industries Inc. and Jiangxi Ganfeng Lithium Co. Ltd.
The global lithium market will grow from $6.2 billion in 2022 to $7.25 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%. The war between Russia and Ukraine disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on several countries, an increase in commodity prices and supply chain disruptions, causing inflation in goods and services and affecting many markets around the world. The lithium market is expected to grow from USD 13.85 billion by 2027 at a CAGR of 17.5%.
The lithium market includes revenue earned by entities through the production of glass, aluminum products and batteries. Market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to final consumers are included.
Lithium refers to the process of extracting lithium and its compounds. Lithium mining is a series of chemical procedures that isolate lithium from a material and transform it into a form that can be sold.
Brine, or water with a high concentration of lithium carbonate, is frequently used to recover lithium. One of the main sources of lithium carbonate are underground brines that are confined to the Earth’s crust.
South America was the largest region for the lithium market in 2021. The regions covered in this lithium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of lithium are glass/ceramics, greases/lubricants, chemical synthesis, wearable and other portable electronics, hybrids, battery electric vehicles (BEVs), grid and other energy storage applications. Chemical synthesis refers to the process by which one or more chemical reactions are carried out to convert a reactant or starting material into a product or multiple products.
The sources are brine and hard rock. The type of mining includes underground mining and surface mining.
The growth of the lithium market is due to the increasing use of autonomous transport system trucks in the mining industry, which significantly improves production efficiency and reduces response time.
Companies engaged in the lithium industry are using autonomous transportation systems to control and track the movements of mining vehicles, and coordinate and autonomously drive off-road transport trucks operating in a mine.
Countries covered in lithium market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Market value is defined as the revenue earned by businesses from the sale of goods and/or services within the specified market and geography through sales, grants or donations in currency terms (in USD unless otherwise specified ).
Revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, regardless of where they are generated. It does not include resale revenue along the supply chain, either further along the supply chain or as part of other products.
The Lithium market research report is one of a series of new reports that provides statistics on the Lithium market, including global market size of the Lithium industry, regional shares, competitors with Lithium market share , detailed lithium market segments, market trends and opportunities and any other data. you may need to thrive in the lithium industry. This Lithium market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06320369/?utm_source=GNW
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