Dublin, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The "Lithium Mining Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global market for lithium mining is poised for considerable expansion at more than 26% CAGR over the period of 2021-2025. The global valuation of lithium mining market will reach over US$1 billion towards the end of forecast period. Increasing consumption of Li-ion batteries by automotive and consumer electronics industries is expected to create a measurable boost in need for lithium mining activities in the near future.
Key Insights into Lithium Mining Market:
Over 15 million MT lithium deposits are globally available in an extractable form
Chile (8.6 MMT), Australia (2.8 MMT), Argentina (1.7 MMT), and China (1MMT) lead in terms of potential/extractable lithium reserves
Australia and China constituted more than 60% of world's lithium production in 2019
In 2019, the production of lithium stood at 77 thousand MT whereas, the demand registered was 57.7 thousand MT. Thus, close to 20 thousand MT of lithium was over-produced and left unsold to be stocked later
Lithium producers will benefit from EV sales. The current EV stock is expected to double by 2030 and EVs are anticipated to displace conventional passenger vehicle sales by 10% towards 2025 end
Li-ion battery prices dropped to 89% between 2010 and 2020, thereby increasing affordability of EVs to general public
The cost of lithium hydroxide is higher than that of lithium carbonate. However, increasing demand for the former in development of highly efficient Li-ion batteries will overtake that of the latter in the next few years
Lithium production has been free from any significant disruptions caused by COVID-19 pandemic. Also, the current high stock levels of lithium would be sufficient to buffer the industry.
Australia on the Frontier in Production of Lithium
In terms of production, Australia will continue to capture the top spot, with over half the share in global production volume. China will also remain an important market for lithium consumers, suggests the report. However, the Chile-Argentina-Bolivia cluster - popularly the Lithium Triangle, continues to face challenges thrown by existing sustainability issues raised by indigenous communities and respective governments. These stumbling blocks are preventing these three major producers to participate in global lithium export.
Contentious Angle of Lithium Mining to be a Game Changer in Future
The rise of EVs and unprecedented pace of e-mobility created an instant impression that the lithium invention is soon to bear its fruit. However, the cost-efficient processes of lithium mining that are used today prove to be highly energy- and mineral-intensive. The world is thus seemingly not meeting the ultimate goal of e-mobility, i.e., reduced environmental footprint and lowered carbon emission as mining is being performed at the cost of environment. The question that remains is can the existing lithium mining get more sustainable and more efficient.
Global leaders in EV space such as Volkswagen Group and Mercedes-Benz are pioneering the movement that would make the industry reassess its value chain to spot possibilities of creating a sustainable lithium production process that has a lower footprint and can potentially stand as an alternative to mining in future. Geothermal brines also appear to be a promising source for lithium recovery, reveals research. Utilising lithium from recycled batteries and electronic goods is being considered a viable option but the existing quantity would not suffice the current demand from all over the globe. World Bank clearly states that looking at lithium consumption by EVs alone, nearly fivefold of the current mined lithium will be required, if the global climate target is to be met in 2050.
While research reaffirms that electric cars will heavily depend on lithium as a key raw material for the next couple of decades more, it also says that a majority of this lithium will not be 'new' but 'recovered or recycled'. This situation will however take a lot more time to begin, possibly by the end of this decade till a sufficient quality of Li-ion battery are returned for recycling.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Price Trends Analysis and Future Projects, 2017-2025
4. Global Lithium Mining Market Outlook, 2017-2025
5. North America Lithium Mining Market Outlook, 2017-2025
6. Europe Lithium Mining Market Outlook, 2017-2025
7. Asia Pacific Lithium Mining Market Outlook, 2017-2025
8. Latin America Lithium Mining Market Outlook, 2017-2025
9. Middle East & Africa Lithium Mining Market Outlook, 2017-2025
10. Competitive Landscape
Ganfeng Lithium Co., Ltd.
Lithium Americas Corp.
Orocobre Limited Pty Ltd
For more information about this report visit https://www.researchandmarkets.com/r/q7hwn6
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