Lithium Mining Market to Hit USD 516.22 Million in 2028; Rising Electrification of Buses, Trucks, Cars, and Two Wheelers to Bolster Growth: Fortune Business Insights™

·7 min read

Key Companies Covered Lithium Mining Market Research Report are Jiangxi Ganfeng Lithium, Albemarle Corporation, Tianqi Lithium, Sociedad Química y Minera, Mineral Resources Limited, Pilbara Minerals, MC Corporation, Nemaska Lithium Inc., MGX Minerals Inc., Orocobre Limited Pty Ltd, Nordic Mining ASA, Wealth Minerals Limited, Galaxy Resources Limited, Lithium Americas Corp.

Pune, India, Aug. 06, 2021 (GLOBE NEWSWIRE) -- The global lithium mining market size is set to gain impetus from the increasing electrification of trucks, buses, two-wheelers, and three-wheelers. The International Energy Agency’s Global EV Outlook 2020 stated that in 2019, around 2.6% of electric cars were sold worldwide. It showcased a surge of 40% compared to 2018. This information is given by Fortune Business Insights™ in a report titled, “Lithium Mining Market, 2021-2028.” As per the report, the market stood at USD 321.36 million in 2020. It is projected to grow from USD 343.22 million in 2021 to USD 516.22 million in 2028 at a CAGR of 6% during the forecast period.

Request To Sample PDF Brochure:

A list of renowned lithium mining companies present in the global market:

  • Jiangxi Ganfeng Lithium (China)

  • Albemarle Corporation (U.S.)

  • Tianqi Lithium (China)

  • Sociedad Química y Minera (Chile)

  • Mineral Resources Limited (Australia)

  • Pilbara Minerals (Australia)

  • FMC Corporation (US.)

  • Nemaska Lithium Inc. (Canada)

  • MGX Minerals Inc. (Canada)

  • Orocobre Limited Pty Ltd (Australia)

  • Nordic Mining ASA (Norway)

  • Wealth Minerals Limited (Canada)

  • Galaxy Resources Limited (Australia)

  • Lithium Americas Corp. (Canada)


Report Coverage


Forecast Period

2021 to 2028

Forecast Period 2021 to 2028 CAGR


2028 Value Projection

USD 516.22 Million

Base Year


Market Size in 2020

USD 321.36 Million

Historical Data for

2017 to 2019

No. of Pages


Tables, Charts & Figures


Segments covered

Source; Type; and Region

Growth Drivers

Growing Technological Advancements in Mining to Aid Market Dynamics

Increasing Demand for Lithium in Glass and Ceramic Manufacturing to Drive Market

Rising Hard Rock and Brine Activities Will Drive the Carbonate Segment's Growth

Pitfalls & Challenges

Environmental Impacts of Mining to Restrain Market Growth

COVID-19 Pandemic: Declining Investments and Lockdown to Obstruct Growth

The COVID-19 pandemic has taken a huge toll on this industry because of the imposition of social distancing and lockdown norms worldwide. Investments in the mining industry have also declined amid the pandemic. We are offering in-depth research reports to help you tackle this grave situation with our unique strategies.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:


Lithium Chloride Segment Earned 48.8% Share in 2020: Fortune Business Insights™

Based on type, the market is segregated into chloride, hydroxide, carbonate, and concentrates. Out of these, the chloride segment generated 48.8% in terms of the lithium mining market share in 2020. The carbonate segment is set to remain at the forefront because of its increasing production through hard rock mining and brines.

Report Coverage-

The report studies decisive segments of the industry containing regions, end-users, technologies, types, and applications. It explains the performance and importance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. Additionally, it would help our clients to accurately determine the market size to guide them in selecting the right strategy for their business growth.

Drivers & Restraints-

Increasing Development of Energy-efficient Mining Techniques to Boost Growth

The rising technological investments in mining and metallurgy are set to propel lithium production across the globe. Also, ongoing research activities are leading to the development of new energy-efficient techniques to conduct lithium mining. Most of these techniques, such as direct lithium extraction, utilize organic sieves by replacing vast evaporation ponds, thereby making it a sustainable practice. However, mining practices often cause water scarcity by affecting the quality of groundwater. It may hinder the lithium mining market growth in the near future.

Country Insights-

Rising Awareness of Environmentally Friendly Electric Vehicles to Help Australia Dominate

  • Australia is in the leading position, and it procured USD 110.40 million in 2020 in terms of revenue. This growth is attributable to the surging awareness among people regarding the usage of eco-friendly electric vehicles in the country.

  • The spurring number of brine mining activities is estimated to help Chile remain in the second position throughout the forthcoming years in the lithium mining industry.

  • Brazil, Argentina, and Bolivia are set to grow steadily on account of the increasing investments in mining activities as these countries own several lithium reserves.

Ask for Customization:

Competitive Landscape-

Key Players Focus on Development of Innovative Technologies to Intensify Competition

The global market contains a large number of companies that are currently focusing on R&D activities to unveil cutting-edge mining technologies. These are helping them to gain a competitive edge. Below are the two crucial industry developments:

  • April 2021: QMC Quantum Minerals bagged the permit to accelerate the 2021 work program, mainly for its Irgon Lithium Mine Project in Canada. It would enable the company to conduct channel and surface sampling and prospecting and stripping of overburden.

  • April 2020: A team of researchers from the University of Texas at Austin, the University of Melbourne, Australia’s national science agency CSIRO, and Monash University successfully created a novel filtering technology for extracting Li-ions from brine.

Quick Buy- Lithium Mining Market:

Major Table of Content for Lithium Mining Market:

  • Introduction

    • Research Scope

    • Market Segmentation

    • Research Methodology

    • Definitions and Assumptions

  • Executive Summary

  • Market Dynamics

    • Market Drivers

    • Market Restraints

    • Market Opportunities

  • Key Insights

    • Key Emerging Trends – For Major Countries

    • Latest Technological Advancement

    • Regulatory Landscape

    • Porters Five Forces Analysis

  • Qualitative Analysis – Impact of COVID-19

    • Impact of COVID-19 on the Lithium Mining Market

    • Steps Taken by the Government to Overcome the Impact

    • Key Developments by Industry Players in Response to COVID-19

    • Potential Opportunities and Challenges due to COVID-19 Outbreak

  • Global Lithium Mining Market Analysis (Metric Tons and USD Million), Insights and Forecast, 2017-2028

    • Key Findings / Summary

    • Market Analysis, Insights and Forecast – By Source

      • Brine

      • Hard Rock

    • Market Analysis, Insights and Forecast – By Type

      • Lithium Chloride

      • Lithium Hydroxide

      • Lithium Carbonate

      • Lithium Concentrate

    • Market Analysis, Insights and Forecast – By Country

      • U.S.

      • Canada

      • Portugal

      • China

      • Australia

      • Argentina

      • Bolivia

      • Chile

      • Brazil

      • Namibia

      • Nigeria

      • Zimbabwe

TOC Continued

Have a Look at Related Research Insights:

Solid Oxide Fuel Cell Market Size, Share & COVID-19 Impact Analysis, By Application (Stationary, Transport, Portable), By End-User (Commercial, Data Centers, Military & Defense, and Others), and Regional Forecast, 2021-2028

Cryogenic Pump Market Size, Share & COVID-19 Impact Analysis, By Type (Positive Displacement Pump, Centrifugal Pump), By Cryogen Type (Nitrogen, Oxygen, Argon, Liquefied Natural Gas, Other), By End-User (Oil & Gas, Metallurgy, Power Generation, Chemical & Petrochemical, Marine, Others), and Regional Forecast, 2021-2028

High Speed Motor Market Size, Share & COVID-19 Impact Analysis, By Product Type (AC Motors and DC Motors), By Construction (Induction Motors and Permanent Magnet Motors), By Application (Industrial Machinery, Aerospace & Transportation, Power Generation, Automotive, Household Applications, and Others), By Rotational Speed (3,000 – 6,000 RPM, 6,000 – 10,000 RPM, 10,000 – 15,000 RPM, and Above 15,000 RPM), and Regional Forecast, 2021-2028

Hydrogen Fueling Station Market Size, Share & COVID-19 Impact Analysis, By Type (Small Station {Low Pressure and High Pressure}, Medium Station {Low Pressure and High Pressure}, and Large Station {Low Pressure and High Pressure}), and Regional Forecast, 2021-2028

Solar Tracker Market Size, Share & COVID-19 Impact Analysis, By Type (Photovoltaic (PV), Concentrated Solar Power (CSP)), By Movement (Single-Axis, Dual Axis), By Application (Utility, Non-Utility), and Regional Forecast, 2021-2028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Fortune Business Insights™
LinkedIn | Twitter | Blogs

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting