Dublin, June 23, 2023 (GLOBE NEWSWIRE) -- The "Global Lithium Metal Market - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The lithium metal market is projected to grow from USD 1.7 billion in 2023 to USD 4.3 billion by 2028, at a CAGR of 20.4% from 2023 to 2028. Lithium metal is widely used in primary batteries.
The exploration and development of new lithium resources are helping to meet the growing demand for lithium metal. New mining projects and improved extraction technologies are reducing supply constraints which are supporting the market growth for lithium metal.
By source, the salt lake brine segment is estimated to be the largest segment of the lithium metal market from 2023 to 2028
Based on the source, the salt lake brine is estimated to be the largest segment during the forecast period. Lithium is commonly extracted from brine deposits found in salt flats or salt lakes, known as lithium brine deposits.
These brines typically contain high concentrations of lithium ions, which can be economically extracted and processed to obtain lithium metal. Hence, these factors are propelling the market growth for salt lake brine segment.
By application, the lithium-ion anode material is estimated to be the largest segment of the lithium metal market from 2023 to 2028
Based on application, the lithium-ion anode material is estimated to account for the largest share during the forecast period. In lithium-metal batteries, lithium metal is used as the anode, while a cathode material (typically a transition metal oxide) and an electrolyte complete the cell.
The use of lithium metal as an anode material can increase the energy density of a battery since lithium metal has a higher capacity as compared to lithium-ion batteries.
The lithium metal market in the Asia Pacific region is projected to witness the highest CAGR during the forecast period.
Asia Pacific region is projected to register the highest CAGR in the lithium metal market from 2023 to 2028. Asia Pacific is one of the key markets for lithium metal. The Asia Pacific region is rich in lithium resources, including lithium brine deposits and hard rock lithium mines.
Countries like Australia and China have significant lithium reserves and production capacities. This availability of local lithium resources gives the region a competitive advantage in lithium metal production, reducing import dependence and supporting market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 181 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.7 Billion |
| Forecasted Market Value (USD) by 2028 | $4.3 Billion |
| Compound Annual Growth Rate | 20.4% |
| Regions Covered | Global |
Premium Insights
- Increased Demand for Lithium Metal Batteries in Electrical Devices
- Asia-Pacific to Dominate Market During Forecast Period
- Lithium-Ion Anode Material to Hold Largest Market Share During Forecast Period
- Salt Lake Brine to Record Highest Growth During Forecast Period
- China and Lithium-Ion Anode Dominated Market in 2022
- Poland and Germany to Record Fastest Growth During Forecast Period
Market Dynamics
Drivers
- Growing Demand for Lithium Metal in Batteries
- Government Initiatives to Boost Lithium Production
Restraints
- Concentration of Lithium Deposits to Disrupt Supply Chain
- Commercialization of Alternate Substitutes and Technologies
Opportunities
- Application of Lithium Metal in Pharmaceutical Intermediates
- Use of Lithium Alloys in High-End Industries
Challenges
- Risk of Fire or Explosion
- Extraction of Raw Material to Pose Environmental Threat
Value Chain Analysis
- Raw Material Acquisition
- Processing and Refining
- Manufacturing and Production
- Distribution and Sales
- End-Use Industries
- Recycling
Case Study Analysis
- High Energy of 3D Lithium Metal Anode
- Enhanced Performance and Sustainability of Lithium-Ion Batteries by Liovix
Company Profiles
Key Players
- Albemarle Corporation
- Livent
- Tianqi Lithium Co., Ltd.
- Ganfeng Lithium Group Co., Ltd.
- Shenzhen Chengxin Lithium Group Co., Ltd.
- China Lithium Products Technology Co., Ltd.
Other Players
- Shanghai China Lithium Industrial Co., Ltd.
- China Energy Lithium Co., Ltd.
- Cnnc Jianzhong Nuclear Fuel Co., Ltd.
- Shandong Ruifu Lithium Industry Co., Ltd.
- Otto Chemie Pvt. Ltd.
- Cmp
- Li-Metal Corp.
- Pure Lithium
- American Elements
- Oxford Lab Fine Chem Llp
- The Honjo Chemical Corporation
- Alpha-En Corporation
- Spectrum Chemical
For more information about this report visit https://www.researchandmarkets.com/r/23c84z
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
