$ 4.68 Billion Lithium Mining Market Size, Globally, by 2028 at 5.23% CAGR: Verified Market Research®
The use of lithium in medical and pharmaceutical operations ultimately intensified the need for lithium mining, increasing advancements in electronic automobiles will further propel the demand for lithium during the forecast period.
JERSEY CITY, NJ, September 30, 2021 / PRNewswire / – Verified Market Research recently published a report, “Lithium mining marketBy 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 assessed To $ 3.27 billion in 2020 and should reach $ 4.68 billion by 2028, with 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 manufacture of advanced products for electronics, automobiles and the health sector. Since then, it can be used in various grease lubricants, drugs, lithium-ion batteries and many more. On the global availability of lithium, Chile has the main lithium reserve followed by Australia, Argentina and China.
The growth in the use of lithium in air handling 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 use absorption chillers as a source of air conditioning. Lithium chloride is used for dehumidification purposes. Large surfaces, which must operate without moisture, use lithium chloride to absorb moisture. The demand for lithium for air regeneration applications is also increasing. Space vehicles, submarines and miners, safety devices, etc., contain systems to remove carbon dioxide from human exhaust gases.
The increase in the use of lithium in air handling 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 use absorption chillers as a source of air conditioning.
The main 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 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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