Lithium Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The global lithium market is estimated to reach more than 490 LCE kilotons by the end of this year. It is estimated to register a CAGR greater than 19% during the forecast period.
The market was negatively impacted by COVID-19 in 2020, as the first half of the year was affected by the lockdowns, causing unprecedented declines in monthly vehicle sales from February. Presently the market has reached pre-pandemic levels.
Key HighlightsThe global lithium market is consolidated in nature, with the top five players holding more than 80% share of the global production outputs. Some of the major players in the market include (not in any particular order) Albemarle Corporation, SQM SA, Tianqi Lithium, Livent, and Allkem Limited, among other companies.
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