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Increased utilization of lithium-ion batteries in grid storage is a key factor driving lithium mining market revenue growth

VANCOUVER, BC, CANADA, February 7, 2023 /EINPresswire.com/ -- Global lithium mining market size was USD 3.33 Billion in 2020 and is expected to register a revenue CAGR of 6.8%, during the forecast period, according to latest analysis by Emergen Research. Rising demand for consumer electronics products and increasing use of lithium-ion batteries in grid-scale energy storage systems are among some of the key factors driving market revenue growth. Increasing focus on Research & Development (R&D) of advanced technologies in mining process is expected to boost revenue growth of the market to a significant extent. Several universities are focusing on research for developing newer technology to assist in lithium extraction.

 For instance, Researchers team from Monash University, Australia, The Commonwealth Scientific and Industrial Research Organisation (CSIRO), the University of Texas at Austin, and the University of Melbourne have developed an innovative filtering technology for extracting lithium ions from brine. This innovative filtering technology has a higher recovery rate over present mining methods and reduces the mining procedure time down to just a few hours from several months to years in present lithium mining. This new way to mine lithium substantially decrease lithium prices for Electric Vehicle (EV) batteries and stationary energy storage systems, providing opportunities for energy transition and electric mobility.

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Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Lithium Mining market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Lithium Mining market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Lithium Mining market.

Competitive Terrain:

The global Lithium Mining industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

Jiangxi Ganfeng Lithium Co., Ltd., Albemarle Corporation, Tianqi Lithium Corp., SQM S.A. (Sociedad Química y Minera), Pilbara Minerals Limited, Livent Corporation, Orocobre Limited Pty Ltd., Mineral Resources Limited, Lithium Americas Corporation, and Piedmont Lithium, Inc

The research study examines historic data from 2018 and 2020 to draw forecasts until 2028. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.

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Market Segmentations of the Lithium Mining Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Lithium Mining market on the basis of product, application, and region:

Segments Covered in this report are:

Type Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2030)

Lithium Hydroxide

Lithium Carbonate

Lithium Chloride

Lithium Concentrate

Source Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2030)

Hard Rock

Brine

Others

End-use Outlook (Revenue, USD Billion, Volume, Kilotons; 2018–2030)

Flux Powder

Polymers

Batteries

Refrigeration

Air Conditioning Equipment

Glass & Ceramics (Frits)

Grease & Lubricants

Pharmaceutical

Others

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Regional Outlook of the Lithium Mining Market

The global Lithium Mining market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In this section, authors of the report have studied the presence of the global Lithium Mining market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.

Key reasons to buy the Global Lithium Mining Market report:

The latest report comprehensively studies the global Lithium Mining market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.

The report offers an insightful analysis of the regional outlook of the market.

It offers a detailed account of the end-use applications of the products & services offered by this industry.

The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

In conclusion, the Lithium Mining Market report is an exhaustive database that will help readers formulate lucrative strategies. The Lithium Mining Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.

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