Between 2021 and 2025, global lithium mining market is expected to take a leapfrog, suggests the latest research intelligence of Fairfield Market Research. The market is likely to be benefiting significantly from the booming electric vehicle (EV) sales as EVs are powered by Li-ion batteries. The report forecasts a massive 26.3% CAGR for lithium mining market during the period of forecast and will exceed the valuation of US$ 1 Bn toward the end of 2025. The analysis presented in the report indicates that the brines will continue to be the most preferred lithium source owing to their cost efficiency over hard rock or spodumene.

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Expanding Lithium Application Base Favours Market Growth

The application base of lithium continues to expand to cover a spectrum of application areas like ceramic and glass products, aluminium products, polymers, lubricating greases, as well as miners, submarines, space vehicles, and safety devices. While the metal remains a preferred material for dehumidification and cooling applications with its superior thermal resistance and exceptional performance, Fairfield expects unwavering demand generation for lithium miners. Increasing installation of absorption chillers at hospitals, shopping malls, educational institutes, and spas & wellness centres will further accelerate lithium consumption, says the report. Ascending demand for air conditioning equipment, lubricants, and batteries has been especially driving market growth in the North American region.

Lithium Mining Activities Pick Pace as Demand for EVs Heighten

There has been a notable surge in lithium mining activities over the recent past as Li-ion batteries represent one of the fastest-growing markets worldwide. Lithium prices also saw a fall for the entire decade, till 2020, as a result of the tipping oversupply against a slight fall in EV sales that year. Increased affordability of both batteries and electric vehicles is thus projected to push EV sales up, thereby fostering the activities in lithium mining market. Electric vehicles are all set to capture the mainstream auto market, which is synonymous to an incessant lithium supply in future. With EVs, and hybrid EVs regaining momentum after the COVID-19 setback, lithium miners are likely to benefit from the situation. Mining companies are expected to focus their effort on improving their control along value chains and enhance margins as they increasingly witness greater demand coming from chemicals companies, battery companies, automakers, and even governments.

Detailed Table of Content

Executive Summary
1.1. Global Lithium Mining Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.2.4. Economic Trends
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact
2.5.1. Supply Chain
2.5.2. End-user Customer Impact Analysis
Price Trends Analysis and Future Projects, 2017 - 2025
3.1. Key Highlights
3.2. Global Average Pricing ($ per Tons) Analysis, 2017 - 2025
3.3. Pricing Analysis ($ per Ton), by Region, 2017 - 2025
Complete TOC..!!!

Australia Continues to Spearhead, Lithium Triangle Remains Suppressed

Australia remains the world’s largest reserve of concentrated lithium deposits that accounts for over half the global production. China follows. However, on the other side, Chile-Argentina-Bolivia, i.e., the Lithium Triangle continues to be an insignificant contributor to global lithium production despite the voluminous reserves that it houses. The water shortage crisis in the entire clustre is expected to aggravate further, which introduces complications during the lithium extraction process and thereby masks the full production potential of the Lithium Triangle.

Key Market Players

The report sheds light on the strategic and financial profiles of some of the top companies driving competition in global lithium mining market, including Ganfeng Lithium Co., Ltd., SQM S.A., Albemarle Corporation, Mineral Resources, Lithium Americas Corp., Tianqi Lithium, Orocobre Limited Pty Ltd., and Livent.

Lithium Mining Market Press Release: https://www.fairfieldmarketresearch.com/press-release/global-lithium-mining-market

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