Lithium Mining Market Research Report by Source (Brine, Hard Rocks), Type (Lithium Chloride, Lithium Hydroxide, Lithium Carbonate, Lithium Concentrate), Application (Batteries, Glass, Grease, Air Conditioning Equipment, Others) Industry Forecast till 2032

The Lithium Mining Market Size is predicted to demonstrate a compound annual growth rate (CAGR) of 18.56% during the forecast period (2024-2032).

Lithium is mined from rocks and brine. The brine is evaporated and washed in shallow PVC-lined ponds to remove sodium carbonate. Lithium compounds are widely utilized in glass and ceramics. Ceramics' potential characteristics, such as increased strength, improved coating viscosity, enhanced glaze color, viscosity, strength, and luster of the ceramic bodies, are regarded as major drivers of ceramics, contributing to the overall growth of the lithium mining industry.

On the other hand, technology in the mining industry is evolving, resulting in more effective and efficient mining processes. They are resource- and energy-efficient overall. They also use organic-based sieves, which protect environmental sustainability. Such favorable conditions create profitable potential for the overall expansion of the lithium mining industry.

The extensive use of lithium in medical devices and pharmaceutical operations, as well as the rapid advancements in electronic autos, are driving the lithium mining market forward. Similarly, the expanding applications in the glass and ceramics, polymers, and pharmaceutical industries are boosting the lithium mining market share.

Overview of segments
According to source, the lithium mining market is divided into two categories: brine and hard rock.
The lithium mining market is segmented into four types: chloride, lithium hydroxide, carbonate, and concentrate.
The market is segmented by applications, including batteries, glass, grease, and air conditioning equipment.
The market is segmented into two segments based on products: lithium hydroxide and lithium carbonate.

Regional analysis
Currently, Asia-Pacific and the United States are predicted to experience faster growth rates in the lithium mining business, with the United States increasing at a pace of 3.2%. The use of lithium-ion batteries in consumer electronics and medical applications is expanding, creating attractive potential for the overall growth of lithium mining.

European countries manufacture electric vehicles and are improving their automotive and medical industries. As a result, the extensive use of lithium in these industries is driving the lithium mining market trends. For example, Europe is focused on fuel efficiency and implementing laws to encourage the use of fuel-efficient vehicles. Furthermore, the International Energy Agency estimated that the country had sold more than 7 million electric automobiles.

Major Players
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, and Young Corporation Ltd. are the major players in the lithium mining market.