The Global Lithium Mining Market was valued US$ 3,271.4 Mn and in 2020 is expected to reach US$ 4,655.8 Mn by 2027, with a growing CAGR of 5.2% during the forecast period (2021-2027).
Lithium is a chemical element which has many uses like medicines, grease lubricants, lithium-ion batteries etc. Chile has the biggest lithium reserves in the world followed by Australia, Argentina and China. Lithium is present in almost all rocks in small amounts. It is used to treat mental illnesses like Bipolar disorder, Schizophrenia and eating disorders like anorexia and bulimia. Lithium is also the lightest metal in the world. Lithium-ion batteries are used worldwide in mobiles, laptops and nowadays with companies like Tesla and other companies producing electric vehicles it is used in vehicles as well. Lithium batteries have many useful properties such as long sustainable life, low self-discharge rate, high energy density, being light weight, quick charging etc.
By Source Type
Seawater contains extremely large parts of lithium brine. The demand for lithium has only increased in the past few years. The process of extracting lithium from brine results in massive amount of waste. Brines from salar, salt lake and spodumene are the places from where majority of lithium is extracted. Technological advancements in laptops, mobiles and electric cars has bought the demand of lithium more than it’s mining capacity. The present lithium extraction process is not only energy consuming but also harmful to the environment. Lithium brines can be classified into three types evaporative, geothermal and oilfield brines. Lithium is an element that is considerably abundant on the planet. Many minerals consist of lithium. The largest presence of lithium is found in granitic pegmatites.
Lithium hydroxide is actually quite dangerous as contact with it can severely damage your skin, eyes etc. Lithium hydroxide is widely used in lubricating greases it is also used breathing gas purification systems. The chemical formula for lithium hydroxide is LiOH with a molar mass of 23.95g. Lithium is also widely used in the production of ceramic glass. Lithium carbonate is mostly used in medicines which are used to treat mental illnesses like bipolar disorder, schizophrenia, these medicines have various side effects too like drowsiness, dizziness, tiredness, increased thirst etc. Lithium carbonate belongs to a class of drugs called bipolar disorder agents. It is advised to use these medicines only under the guidance of doctors.
The North American lithium market had gone to a level of 64,200 Tons in 2018. North America which consists of Canada and USA has a population which is overwhelmingly dependant on smartphones, gadgets and is in general very tech driven. Nowadays with emergence of companies like Tesla even their daily commute has become technology based. The revolution of smartphones has reached even in yet to be developed countries of Africa and this makes the demand for lithium even more. At the moment Europe does not indulge in lithium on the same scale as other countries like China, Australia but they are planning to start lithium mining in Austria. If you look at the worldwide picture China has the most consumption of ceramic tiles and glass which is followed by India.
Lithium Mining Market Company profiles and competitive intelligence:
The major players operating in the field 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.
Ever since the covid pandemic began it has had a mixed effect on the Global Lithium Mining Market. Since the usage of gadgets like smartphones, tablets and laptops has only increased and it has obviously increased the demand for lithium-ion batteries. But the pandemic has definitely affected the production and supply of lithium to various countries. The places where lithium mining takes place, the workers and other staff has to be present there physically and hence it is not exactly a safe working condition. Lithium also has to be transported to wherever it has to be used and the transportation is severely affected because of covid 19. Since China is the leader in battery manufacturing and because China had lockdown during the initial days of covid it has had a negative impact on the entire industry. The COVID 19 pandemic has not just affected us financially but it has sent shockwaves across political and economical spectrums of various countries around the world. Since this virus is airborne it has become quite difficult to work in a normal working condition as before. Various aspects of business like production, distribution, manufacturing, supply chain have all been disrupted severely because of the pandemic. Although one positive thing about lithium is that since it is mostly used in mobile phones and laptops and these things have been extensively used even in lockdowns around the world, the demand for it has not gone down drastically.
|1||Increased preference for electric vehicles||Positive|
|2||Working from home proving to be more productive||Positive|
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