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Global Lithium Metal Market to reach USD 10.72 billion by the end of 2030

Global Lithium Metal Market Size study & Forecast, by Application (Batteries, Alloys, Intermediate, Others), by Source (Salt Brine Deposits, Lithium-Rich Clays) and Regional Analysis, 2023-2030

Product Code: CMGMM-93902142
Publish Date: 20-01-2024
Page: 200

Global Lithium Metal Market is valued at approximately USD 4.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.1% during the forecast period 2023-2030. Lithium metal is a chemical element with the symbol Li and atomic number 3. It is a soft, silver-white metal that belongs to the alkali metal group of the periodic table. Lithium is highly reactive and flammable, and it is typically stored in mineral oil to prevent it from reacting with moisture and oxygen in the air. The key factors driving the market growth are the growing adoption of electric vehicles, rising demand for portable electronic devices, growing consumer electronics market, and rising need for energy storage solutions, including large-scale batteries for renewable energy storage and grid stabilization which are anticipated to support the market growth.

Additionally, the growing adoption of Electric Vehicles (EVs) has a significant impact on the demand for lithium, and consequently, it supports the growth of the Lithium Metal Market. According to the latest report from the Federation of Automobile Dealers Association (FADA) in India, electric passenger vehicle sales have experienced significant growth. As of March 2023, the sales figure stands at 8,566 units, marking a significant increase from the 3,718 units sold in March 2022. Similarly, the German Association of the Automotive Industry reports a robust performance in the German market. In 2022, the sales of passenger electric vehicles reached an impressive 833,500 units, reflecting a remarkable 22% increase compared to the figures from 2021. As a result, the rising adoption of electric passenger vehicles is anticipated to support the market growth. Moreover, ongoing advancements in battery technology, including improvements in energy density and efficiency, supportive government initiatives and incentives aimed at promoting clean energy and reducing greenhouse gas emissions are anticipated to create a lucrative opportunity for the market during the projected year. However, the commercialization of alternate substitutes and technologies stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Lithium Metal Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing EV demand, rising electronics sector, presence of key market players. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the presence of large-scale battery production facilities, growing adoption of electric vehicles, supportive government policies and incentives for the electric vehicle and renewable energy sectors, and growing consumer electronics demand.

Major market player included in this report are:
Lithium Co., Ltd. (China)
Tianqui Lithium Industries Inc. (China)
Shenzhen Chengxin Lithium Group Co. Ltd. (China)
Albemarle Corporation (US)
Livent Corporation (US)
Shanghai China Lithium Industrial Co., Ltd. (China)
China Energy Lithium Co., Ltd. (China)
CNNC Jianzhong Nuclear Fuel Co., Ltd.
Mineral Resources Limited
Allkem Limited

Recent Developments in the Market:
Ø In May 2022, Livent Corporation and Lilium NV have entered into a collaborative agreement, committing to joint research and development efforts focused on advancing high-performance lithium batteries.

Global Lithium Metal Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Application, Source, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Batteries
Alloys
Intermediate
Others
By Source:
Salt Brine Deposits
Lithium-Rich Clays
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Lithium Metal Market, by Region, 2020-2030 (USD Billion)
1.2.2. Lithium Metal Market, by Application, 2020-2030 (USD Billion)
1.2.3. Lithium Metal Market, by Source, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Lithium Metal Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Lithium Metal Market Dynamics
3.1. Lithium Metal Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Growing adoption of electric vehicles
3.1.1.2. Rising demand for portable electronic devices
3.1.1.3. Growing consumer electronics market
3.1.1.4. Rising need for energy storage solutions
3.1.2. Market Challenges
3.1.2.1. Commercialization of alternate substitutes and technologies
3.1.3. Market Opportunities
3.1.3.1. Ongoing advancements in battery technology
3.1.3.2. Supportive Government initiatives and incentives to promote clean energy and reduce greenhouse gas emissions
Chapter 4. Global Lithium Metal Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Lithium Metal Market, by Application
5.1. Market Snapshot
5.2. Global Lithium Metal Market by Application, Performance – Potential Analysis
5.3. Global Lithium Metal Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
5.4. Lithium Metal Market, Sub Segment Analysis
5.4.1. Batteries
5.4.2. Alloys
5.4.3. Intermediate
5.4.4. Others
Chapter 6. Global Lithium Metal Market, by Source
6.1. Market Snapshot
6.2. Global Lithium Metal Market by Source, Performance – Potential Analysis
6.3. Global Lithium Metal Market Estimates & Forecasts by Source 2020-2030 (USD Billion)
6.4. Lithium Metal Market, Sub Segment Analysis
6.4.1. Salt Brine Deposits
6.4.2. Lithium-Rich Clays
Chapter 7. Global Lithium Metal Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Lithium Metal Market, Regional Market Snapshot
7.4. North America Lithium Metal Market
7.4.1. U.S. Lithium Metal Market
7.4.1.1. Application breakdown estimates & forecasts, 2020-2030
7.4.1.2. Source breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Lithium Metal Market
7.5. Europe Lithium Metal Market Snapshot
7.5.1. U.K. Lithium Metal Market
7.5.2. Germany Lithium Metal Market
7.5.3. France Lithium Metal Market
7.5.4. Spain Lithium Metal Market
7.5.5. Italy Lithium Metal Market
7.5.6. Rest of Europe Lithium Metal Market
7.6. Asia-Pacific Lithium Metal Market Snapshot
7.6.1. China Lithium Metal Market
7.6.2. India Lithium Metal Market
7.6.3. Japan Lithium Metal Market
7.6.4. Australia Lithium Metal Market
7.6.5. South Korea Lithium Metal Market
7.6.6. Rest of Asia Pacific Lithium Metal Market
7.7. Latin America Lithium Metal Market Snapshot
7.7.1. Brazil Lithium Metal Market
7.7.2. Mexico Lithium Metal Market
7.8. Middle East & Africa Lithium Metal Market
7.8.1. Saudi Arabia Lithium Metal Market
7.8.2. South Africa Lithium Metal Market
7.8.3. Rest of Middle East & Africa Lithium Metal Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Lithium Co., Ltd. (China)
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Tianqui Lithium Industries Inc. (China)
8.3.3. Shenzhen Chengxin Lithium Group Co. Ltd. (China)
8.3.4. Albemarle Corporation (US)
8.3.5. Livent Corporation (US)
8.3.6. Shanghai China Lithium Industrial Co., Ltd. (China)
8.3.7. China Energy Lithium Co., Ltd. (China)
8.3.8. CNNC Jianzhong Nuclear Fuel Co., Ltd.
8.3.9. Mineral Resources Limited
8.3.10. Allkem Limited
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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