Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Global Brine Concentration Minerals Market by Type (Sodium derivatives, Magnesium derivatives, Calcium derivatives, Potassium dereivatives), Technology (Solar evaporation, NF-RO-MF, Osmotically assisted RO), Application, and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Brine Concentration Minerals Market is projected to reach USD 1.7 billion by 2029, at a CAGR of 8.1% from USD 1.1 billion in 2024. The brine concentration minerals market is propelled by pivotal drivers, with two key factors prominently influencing its trajectory. Firstly, the escalating demand for lithium-ion batteries stands out as a major driver. As the world transitions towards renewable energy and electric mobility, lithium-ion batteries have become indispensable in storing clean energy and powering electric vehicles. This surge in demand, particularly from the automotive and energy storage sectors, significantly boosts the need for lithium, a crucial component sourced from brine concentration minerals. 
The growing emphasis on sustainable practices constitutes another impactful driver. Industries worldwide are increasingly prioritizing eco-friendly and sustainable methods for resource extraction, and brine concentration offers a more environmentally conscious alternative compared to traditional mining practices. The process minimizes the ecological footprint by utilizing solar evaporation techniques, reducing the need for energy-intensive procedures and avoiding the use of chemical reagents. This aligns with the global push towards sustainability and positions brine concentration minerals as a sought-after solution that meets the dual objectives of fulfilling growing demand while adhering to environmentally responsible practices. Together, these drivers underscore the significance of brine concentration minerals in a rapidly evolving and sustainable global industrial landscape.
Pharmaceutical and food & beverages, by application, accounts for the second-largest market share in 2023
The Pharmaceutical and food & beverages segment accounts for the second largest market share in the brine concentration minerals market due to the diverse applications of certain minerals in pharmaceuticals, food production, and beverage manufacturing. For example, minerals like sodium, potassium, magnesium, and calcium derived from brine can be used as food additives, processing aids, or supplements. These minerals play essential roles in various biological processes and are crucial for human health.
In the pharmaceutical industry, brine-derived minerals may be utilized in the formulation of medications and dietary supplements. The pharmaceutical sector often requires high-purity materials, and brine concentration minerals can provide a source of such minerals for pharmaceutical applications. The Food & beverages industry, which includes the production of processed foods, beverages, and other consumables, utilizes brine-derived minerals as additives or ingredients in food processing. These minerals can contribute to flavor enhancement, preservation, and nutritional fortification.
NF-RO-MF is expected to be the fastest growing technology for brine concentration minerals market during the forecast period, in terms of value
The NF-RO-MF process is considered to bee the fastest growing technology in context of brine concentration and mineral extraction due to its efficiency in separating ions and contaminants from the brine. The combination of nanofiltration, reverse osmosis, and microfiltration allows for a multi-stage purification process, resulting in high-quality brine and concentrated minerals. This process is valued for its ability to achieve selective separation of minerals while minimizing environmental impact. Factors contributing to the potential growth of NF-RO-MF technology includes its effectiveness in producing high-purity minerals, its adaptability to various brine compositions, and the increasing emphasis on sustainable and efficient extraction methods in the mining and minerals industry.
Based on region, North America was the second largest market for brine concentration minerals market in 2023
North America holds the position as the second-largest market for brine concentration minerals after Asia Pacific, driven by a combination of economic, industrial, and strategic factors. The region's prominence in the brine concentration minerals market is multifaceted, reflecting the dynamic nature of its economic activities and resource utilization. One of the primary drivers is the significant demand for minerals in North America's advanced industrial sectors. The United States, in particular, has a robust manufacturing base, technological innovation, and a thriving automotive industry.
With the growing emphasis on electric vehicles (EVs) and renewable energy, there is an increasing need for minerals like lithium, potassium, and magnesium derived from brine for the production of batteries and lightweight materials. The transition towards cleaner energy sources and sustainable technologies amplifies the importance of brine concentration minerals in the region. Moreover, North America is home to substantial lithium resources, with lithium deposits in countries like the United States and Canada. The strategic significance of lithium, a crucial component in batteries for EVs and energy storage, positions North America as a key player in meeting the global demand for these minerals.
Additionally, the region's focus on water treatment and environmental sustainability contributes to the demand for brine concentration minerals. The extraction and processing of minerals from brine offer environmentally friendly alternatives compared to traditional mining practices, aligning with North America's commitment to sustainable resource management. Furthermore, geopolitical factors and strategic alliances play a role in shaping North America's position in the brine concentration minerals market. The region actively engages in partnerships, investments, and resource exploration to secure a stable supply chain for critical minerals, ensuring resilience in the face of global market dynamics.
The report provides insights on the following:
- Analysis of key drivers: Growing demand for lithium-ion batteries coupled with the global emphasis on sustainable practices.
- Market Penetration: Comprehensive information on the brine concentration minerals market offered by top players in the global brine concentration minerals market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the brine concentration minerals market.
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for the brine concentration minerals market across regions.
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global brine concentration minerals market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the brine concentration minerals market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 243 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $1.1 Billion |
| Forecasted Market Value (USD) by 2029 | $1.7 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Metallurgical Application to Dominate Market Between 2024 and 2029
- Solar Evaporation Technology to Lead Market Between 2024 and 2029
- Magnesium Derivatives to Dominate Market During Forecast Period
- Asia-Pacific to Dominate Market During Forecast Period
Premium Insights
- Attractive Opportunities for Players in Brine Concentration Minerals Market - Growing Demand for Lithium-Ion Batteries to Drive Market
- Brine Concentration Minerals Market, by Type -Magnesium Derivatives to be Fastest-Growing Type During Forecast Period
- Brine Concentration Minerals Market, by Application -Water Treatment to be Fastest-Growing Application During Forecast Period
- Brine Concentration Minerals Market, by Technology - NF-RO-MF to be Fastest-Growing Technology During Forecast Period
- Brine Concentration Minerals Market, by Region - Asia-Pacific to be Fastest-Growing Region During Forecast Period
Market Dynamics
Drivers
- Growing Demand for Lithium-Ion Batteries
- Global Emphasis on Sustainable Practices
Restraints
- Low Mineral Concentrations and Selective Mineral Recovery
Opportunities
- Wide Deployment of Minerals in Industrial Processes and Power Generation
- Technological Advancements in Brine Concentration Methods
Challenges
- Variability in Mineral Composition and Product Quality
- Volatility in Mineral Prices
Trends/Disruptions Impacting Customer Business
- Revenue Shift and New Revenue Pockets for Brine Concentration Mineral Manufacturers
Case Study Analysis
- Increasing Global Desalination Activities and Sustainable Brine Management
- Environmental Impact of Direct Lithium Extraction from Brines
- Extracting Minerals by Desalinating Brine Using Innovative Capacitive Photo Electrocatalytic Desalination Cells
Company Profiles
- Magrathea
- Olokun Minerals
- Albemarle Corporation
- Ganfeng Lithium Group
- Arcadium Lithium
- ICL Industrial Products
- SQM
- Solvay
- Sealeau
- Konoshima Chemicals
- Kmx Technologies
- Saltworks Technologies
- Conductive Energy
- Minerva Lithium
- Adionics
- Lilac Solutions
- Aquafortus
- Standard Lithium
- Rock Tech Lithium
- Energy Exploration Technologies
- Espiku
- Kazan Soda Elektrik
For more information about this report visit https://www.researchandmarkets.com/r/43w4d1
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