Global Lithium Market to Reach 976.3 Thousand Metric Tons by 2027
Amid the COVID-19 crisis, the global market for Lithium estimated at 305 Thousand Metric Tons in the year 2020, is projected to reach a revised size of 976.3 Thousand Metric Tons by 2027, growing at a CAGR of 18.1% over the analysis period 2020-2027. Rechargeable Batteries, one of the segments analyzed in the report, is projected to record a 24.7% CAGR and reach 846.7 Thousand Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Glass & Ceramic segment is readjusted to a revised 0.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at 81.7 Thousand Metric Tons, While China is Forecast to Grow at 25.1% CAGR
The Lithium market in the U.S. is estimated at 81.7 Thousand Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 259.1 Thousand Metric Tons by the year 2027 trailing a CAGR of 25.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.4% and 16.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.9% CAGR.
Greases Segment to Record 2.2% CAGR
In the global Greases segment, USA, Canada, Japan, China and Europe will drive the 1.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of 10.4 Thousand Metric Tons in the year 2020 will reach a projected size of 11.8 Thousand Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 154.5 Thousand Metric Tons by the year 2027, while Latin America will expand at a 3.2% CAGR through the analysis period. We bring years of research experience to this 18th edition of our report. The 186-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Albemarle Corporation
- Altura Mining Ltd.
- FMC Lithium
- Galaxy Resources Limited
- Lithium Americas Corporation
- Millennial Lithium Corp.
- Nemaska Lithium Inc.
- Neometals Ltd.
- Orocobre Limited
- Pilbara Minerals Ltd.
- Sociedad Química y Minera de Chile S.A