Use of lithium in medicinal and pharmaceutical operations has ultimately escalated the need for lithium mining, up surging advancements in the electronic automobiles will further propel the demand for lithium over the forecasted period
JERSEY CITY, N.J., Sept. 30, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Lithium Mining Market" By Product (Lithium Hydroxide, Lithium Carbonate), By Application (Batteries, Glass, Grease, Air Conditioning Equipment), and By Geography. According to Verified Market Research, the Global Lithium Mining Market size was valued at USD 3.27 Billion in 2020 and is projected to reach USD 4.68 Billion by 2028, growing at a CAGR of 5.23% from 2021 to 2028.
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Global Lithium Mining Market Overview
Lithium is one of the chemical elements with multi industrial uses in the advanced product manufacturing for the electronics, automobiles as well as healthcare sector. Since, it can be used in various grease lubricants, medicines, lithium ion batteries and many others. Out of the global lithium availability, Chile has the major lithium reserve followed by Australia, Argentina and China.
Growth in the use of lithium in air treatment applications is a key driver for the global lithium market. Lithium is used in cooling, dehumidification, and air regeneration applications. Shopping malls, hospitals, and other institutional facilities often employ absorption chillers as their source of air conditioning. Lithium chloride is used for dehumidification purposes. Large areas, which must operate without humidity use lithium chloride to absorb moisture. The demand for lithium for air regeneration applications is also increasing. Space vehicles, submarines & miners, safety devices, etc., hold systems to remove carbon dioxide from the human exhaust.
Increase in use of lithium in air treatment applications is a major driver for the global lithium market. Lithium is used in cooling, dehumidification, and air regeneration applications. Shopping malls, hospitals, and other institutional facilities often employ absorption chillers as their source of air conditioning.
The major key players in the market are Jiangxi Ganfeng Lithium Albemarle, Tianqi Lithium, Sociedad Quimica y Minera, Mineral Resources Limited, Sichuan Yahua Industrial Group Co Limited, Livent Corporation, Lithium Americas, Pilbara Minerals ltd., Savannah Resources, Bacanora Lithium, Piedmont Lithium ltd, Galaxy Resources ltd, Orocobre Ltd, Youngy Corporation Ltd.
Verified Market Research has segmented the Global Lithium Mining Market On the basis of Product, Application, and Geography.
Lithium Mining Market, By Product
Lithium Mining Market, By Application
Lithium Mining Market by Geography
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