New York, April 11, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Lithium Global Market Report 2023" - https://www.reportlinker.com/p06320369/?utm_source=GNW
Major players in the Lithium market include Albemarle Corporation, Sociedad Química y Minera, FMC Corporation, Sichuan Tianqi Lithium Industries Inc., and Jiangxi Ganfeng Lithium Co. Ltd.
The global lithium market will grow from $6.2 billion in 2022 to $7.25 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lithium market is expected to grow from $13.85 billion in 2027 at a CAGR of 17.5%.
The Lithium market includes revenues earned by entities by producing glass, aluminum products, and batteries.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Lithium refers to the process of mining lithium and its compounds.Lithium extraction is a series of chemical procedures that isolate lithium from a material and transform it into a form that may be sold.
Brine, or water with a high concentration of lithium carbonate, is frequently used to recover lithium. One of the main sources of lithium carbonate is subsurface brines that are confined in the Earth’s crust.
South America was the largest region in the Lithium market in 2021. The regions covered in this Lithium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of Lithium are glass/ceramics, greases/lubricants, chemical synthesis, portable electronics and other handhelds, hybrids, battery electric vehicles (BEV), grid, and other power storage applications.Chemical synthesis refers to the process by which one or more chemical reactions are performed to convert a reactant or start material into a product or multiple products.
The sources are brine and hard rock. The mining type includes underground mining, and surface mining.
The growth in the Lithium market is due to the increasing use of autonomous hauling systems trucks in the mining industry, which is significantly enhancing production efficiency and reducing turnaround time.
Companies engaged in the Lithium industry are using autonomous haulage systems to control and track mining vehicle movements, and coordinate and autonomously drive off-highway haul trucks operating in a mine.
The countries covered in the Lithium market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The lithium market research report is one of a series of new reports that provides lithium market statistics, including lithium industry global market size, regional shares, competitors with a lithium market share, detailed lithium market segments, market trends and opportunities, and any further data you may need to thrive in the lithium industry. This lithium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06320369/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
