The According to a market research report, the Lithium Metal Market by Source(Salt Lake brine, Lithium Ores), Application(Lithium-ion anode material, Alloy, Intermediate), End-Use Industry(Batteries, Metal Processing, Pharmaceuticals), & Region(APAC, North America, Europe, RoW)-Global Forecast to 2028″, is projected to grow from USD 2.5 billion in 2023 to USD 6.4 billion by 2028, at a CAGR of 20.4% from 2023 to 2028. The market’s growth is driven by the rising demand for lithium metal in various applications such as anode material, intermediate in the pharmaceutical industry, and metal processing.
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- 200 Market data Tables
- 45 Figures
- 180 Pages and in-depth TOC on “Lithium Metal Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
The major players operating in the lithium metal market include Ganfeng Lithium Co., Ltd. (China), Tianqui Lithium Industries Inc. (China), Shenzhen Chengxin Lithium Group Co., Ltd. (China), Albemarle Corporation (US), Livent Corporation (US) fall under the winners’ category. These are leading players in the Lithium metal market globally. These players have adopted the strategies of investments, expansions, product launches, mergers and acquisitions, joint ventures, and agreements to fulfill the rising demand for lithium metal on the regional and global levels.
Recent Developments in Lithium Metal Market
- In March 2023, Albemarle Corporation announced the plan to commence a new US Lithium Mega-Flex processing facility in South Carolina.
- In May 2022, Livent Corporation and Lilium NV signed an agreement in which both companies agreed to perform R & D for high-performance lithium batteries.
- In June 2020, Ganfeng Lithium and BMW signed an agreement to meet German BMW’s demand for key lithium raw materials for battery production.
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Ganfeng Lithium Co., Ltd. is a global leader in the business of lithium metal. It manufactures lithium metal for battery and pharmaceutical applications. In June 2020, Ganfeng Lithium and BMW, have formed a long-term strategic cooperative relationship and signed an agreement to meet German BMW’s demand for lithium raw materials for battery production, as well as to provide a reliable supply of lithium raw materials for BMW’s electric vehicle production capacity and cost.
Tianqui Lithium Industries Inc. is one of the leading companies in the lithium metal market. The company offers lithium metal to cater to various industries. The company currently operates in Australia, China, and Hong Kong. Tianqi Lithium acquired a 23.77% stake in Sociedad Quimica Y Minera De Chile (SQM), Chile’s mining company, for USD 4 billion. This acquisition made the global position of the company strong.
Shenzhen Chengxin Lithium Group Co., Ltd. is a leading company in the lithium metal business. It operates a lithium metal business under the subsidiary company Shengwei Lithium Industry with a production capacity of 1000 tons which is expected to reach 1600 tons in upcoming years. The company’s primary business is the manufacture and sale of new energy lithium battery materials.
Albemarle Corporation is the world’s leading Lithium company. The company operates in four segments, namely Lithium, Bromine Specialties, Catalysts, and All others, and has one of the most diversified product offerings in the lithium derivatives industry. The company sources its lithium from Chile, the US, and, most recently, Australia. In October 2022, the subsidiary company of Albemarle Corporation, Albemarle Lithium UK Limited, acquired a cent percent stake in Guangxi Tianyuan New Energy Materials Co., Ltd. for approximately USD 200 million. This acquisition will strengthen the company’s ability to meet global demand for battery-grade lithium.
Livent Corporation specializes in manufacturing and selling various grades of lithium metal in performance applications like energy storage, greases, pharmaceuticals, polymer production, and aerospace material manufacturing. Livent
The increasing use of lithium metal batteries in various countries is the major driving factor of the lithium metal market in the region. The region is one of the major manufacturers and exporters of lithium metal. It has various lithium metal manufacturers, such as Ganfeng Lithium Co., Ltd. (China), Tianqui Lithium Industries Inc. (China), and Shenzhen Chengxin Lithium Group Co., Ltd. (China), which hold significant market share. Asia Pacific is a major battery manufacturer across the globe, and battery is the largest application for lithium metal batteries, thus is expected to boost the market for lithium metal during the forecast period. Also, Governments in the Asia Pacific region have been actively supporting the development of the lithium metal industry. They are implementing favorable
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