Global Lithium Foil Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lithium Foil Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Lithium is a soft, silver medal, and is the lightest of all the metals on the earth. Lithium provides the highest electrochemical equivalence of all metals, being the lightest and most electronegative element. Lithium foil is wound in cylindrical cells in order to achieve a greater surface area. In button battery cells, lithium anodes can be stamped from lithium foil or cut from lithium rods. Lithium foil is used as an anode material in lithium-ion batteries due to its high energy density. Lithium foil offers high energy density for rechargeable applications such as rechargeable batteries that include UPS, portable consumer devices, and others.

Market Overview:

The latest research study on the global Lithium Foil market finds that the global Lithium Foil market reached a value of USD 453.83 million in 2022. It’s expected that the market will achieve USD 2032.0 million by 2028, exhibiting a CAGR of 28.38% during the forecast period.

Influence of COVID-19 Outbreak on Lithium Foil Industry Development

In the specific environment based on the outbreak of COVID-19, the global economy has been significantly affected, resulting in challenges and opportunities for the development status of various industries. The report is based on the impact of COVID-19 and conducts research on the lithium foil industry from different perspectives such as macroeconomics, industrial chains, and regions.

The distribution channel segment is divided into offline and online, the offline segment is dominating the market currently, and due to the emergence of COVID-19, the online market witnessed significant growth in 2020. The COVID-19 Outbreak has led to a decline in offline passenger flow, and the advantages of e-commerce companies have become prominent. Furthermore, The epidemic will have a short-term impact on the lithium foil industry, but it is relatively limited. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in the lithium foil industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and lose business. Apart from this, the COVID-19 outbreak has resulted in the closing down of several manufacturing facilities across the globe. The pandemic caused huge revenue losses in end-use industry. The coronavirus lockdown put a brake on the production of several key raw materials in the global market, which, in turn, spiked the prices and lowered the demand for the product. The strict lockdown mandates imposed by governments have restricted cross-border trade between countries, another factor proving to be detrimental for the lithium foil market share. In addition, lithium foil manufacturers are drawing up plans for the international market as a new supply link in the global lithium foil industry, as companies look to re-engineer supply chains in the aftermath of COVID-19. Also, it is expected that the product demand in end-user sectors could pick up following the uplift of the lockdown in numerous countries.

Furthermore, the COVID-19 also affected the downstream industry - the lithium-ion battery industry. The impact of the epidemic on the lithium-ion battery industry has also affected the demand and consumption of lithium foil. The lithium-ion battery market was moderately impacted by the COVID-19 pandemic. In the prevailing COVID-19 situation, the expected growth of the market is expected to decline as the pandemic is restricting the supply of batteries and other components due to severe disruptions in businesses and the global economy. The current situation has impacted the supply chain of the battery industry. Key components for batteries are mainly manufactured in Asia Pacific. The COVID-19 situation has exposed the overdependency on the region for key raw materials, especially China. Battery manufacturers in the US, Germany, and Australia are highly impacted by the shutdown of operations in China and other Asia Pacific countries. It has also resulted in limited production leading to a serious decline in business inputs. The recovery depends on government assistance, as well as the level of corporate debt and how the companies and markets cope with the trimmed demand. After the recovery phase, the market is projected to grow at a moderate rate until 2030.

Market Drivers

An increase in the implementation of lithium foils in batteries used in various end-use products like electric vehicles, smart wearable, IoT devices and RFID tags among others is estimated to stimulate the market demand. The rising demand for high-density energy offering batteries for better life of batteries as lithium foils are used in such batteries is stimulating the lithium foil market growth. Lithium foil is widely used in high-energy lithium primary and secondary battery anode materials. It is also one of the core materials of lithium-ion solid-state batteries and semi-solid batteries. The prepared metal lithium battery is small in size, large in capacity, and has no memory effect. Therefore, the increase in the use of lithium foil in such batteries is stimulating the growth of the lithium foil market.

Market Development Constraints

Fluctuations in the price, availability and quality of the commodities, raw materials and components used in manufacturing lithium foil products could have an adverse effect on costs of sales, profitability and the ability to meet customers' demand. The price of commodities, raw materials and components have been volatile in prior years, and the cost, quality and availability of such commodities have been significantly affected in recent years by, among other things, changes in global supply and demand, changes in laws and regulations (including tariffs and duties), changes in exchange rates and worldwide price levels, natural disasters, labor disputes, terrorism and political unrest or instability. These factors could lead to further price increases or supply interruptions in the future. As discussed above, in the short term, rapid changes in raw material costs can be very difficult for manufactures to offset with price increases because, in the case of many of contracts, suppliers have committed to selling prices for goods and services for periods of one year, and occasionally longer. Manufactures' profit margins could be adversely affected if commodity, raw material and component costs remain high or escalate further, and, manufactures are unable to pass along a portion of the higher costs to customers. Price variance caused by fluctuations in raw material prices, which is not conducive to the development of the industry.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

The major players operating in the Lithium Foil market include Ganfeng Lithium ，Albemarle ，CEL and Wuxi Sunenergy Lithium Industrial, etc. Among which, Ganfeng Lithium ranked top in terms of sales and revenue in 2022.

Ganfeng Lithium Co Ltd researches and produces lithium products. The Company produces and sells lithium metal, lithium aluminum hydride, lithium fluoride, lithium chloride, and other chemical products of lithium. Ganfeng Lithium also exports lithium products. As a world's leading lithium eco-enterprise, Ganfeng Lithium's business covers through upstream lithium resource development, midstream lithium salt deep processing and lithium metal smelt, to downstream lithium battery manufacturing and battery recycling. Our products are widely used in electric vehicles, energy storage, consumer electronics, chemicals and pharmaceuticals, etc. The company's lithium resources are located in many countries and regions around the world, and we have technologies of lithium brine extraction, lithium ore extraction and lithium extraction from retired battery ; our production capacity of lithium compounds and lithium metals ranks the top in the world. Ganfeng also has the capacity of battery production and recycling, providing electric vehicle, battery and electronic equipment manufacturers with all raw material supply, battery customization and battery recycling solutions.

With a history that extends back to 1887, today’s Albemarle is a leading global producer of Lithium, Bromine and Catalyst solutions. Albemarle is a leading global producer of catalyst solutions and performance chemicals. The Company offers plastics, polymers, and elastomers, as well as cleaning products, agricultural compounds, pharmaceuticals, photographic chemicals, drilling compounds, and biocides. Albemarle focuses on lithium, bromine, refining catalysts, and applied surface treatment. Albemarle markets its products globally.

Segmentation Overview:

Among different product types, 3N segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Lithium Battery segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Lithium Foil market covered in Chapter 3:

Ganfeng Lithium
Albemarle
CEL
Wuxi Sunenergy Lithium Industrial

In Chapter 4 and Chapter 14.2, on the basis of types, the Lithium Foil market from 2018 to 2029 is primarily split into:

2N
3N
4N

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lithium Foil market from 2018 to 2029 covers:

Lithium battery
Pharmaceutical & Intermediate
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)