Lithium Metal Market is estimated to touch USD 684 million by 2022

Lithium Metal Market Analysis Size, Growth rate and Overview:

Lithium Metal Market was valued at USD 394 million in 2017 and is expected to reach almost USD 684 million by the end of 2022, growing at a CAGR of around 17.41% over the predicted period.

Lithium is known to be the lightest metal. It does not naturally occur as a pure element in nature and is enclosed within multiple stable minerals in a range of hard rock types or in solution in brine bodies within salt lakes. Li-ion batteries is the fastest growing market with a CAGR of 11.54%in the next five years. Lithium-ion batteries comprise of a variety of anode and cathode combinations that offer distinctive performance, cost, and other parameters. The growing acceptance of electric vehicles (EVs) is propelled by the rising concerns for the environment because these vehicles are known to reduce carbon emissions.  

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Lithium Metal Market Key Drivers, Challenges, and Opportunities:

Lithium batteries can be either disposable or rechargeable. The disposable variant of these batteries uses lithium in the metallic form, as an anode. They have long life (high charge density) compared to other standard batteries. Lithium-ion batteries are employed in several applications like telecommunication devices and consumer electronics. The lightweight characteristics of lithium-ion batteries, along with high energy density and rechargeability, makes them a good fit for portable electronics. The growing usage of Li-batteries can be attributed to the demand from markets, such as electric vehicles (EVs), laptops, tablets, cell phones, power tools, video games, toys, e-bikes, and other electronic devices.

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Lithium Metal Market – Regional Presence:

Asia-Pacific is estimated to lead the market,owing to its rapid increase in production of electrical vehicles and consumer electronics with the battery segment as the fastest growing product. China was a huge EV market in 2016, with a share of 45%. Electric car sales in China were more than double the sales in the US in 2016.

Some of the Key Players Profiled in this Lithium Metal Market Report are:

Some of the major companies in this market are SQM, FMC Corp, Canada Lithium Corp, Albemarle Corp, Sichuan Tianqui, Talison Lithium Ltd, Galaxy Resources, among others

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