PUNE, India, February 28, 2023 (GLOBE NEWSWIRE) — The global Lithium mining market size was valued at US$321.36 million in 2020 and is forecast to increase from US$343.22 million in 2021 to US$516.22 million in 2028, at a CAGR of 6% over the forecast period of 2021- corresponds to 2028. The high demand for electricity due to ongoing urbanization and industrialization worldwide would have a positive impact on growth. This would lead to an increasing demand for lithium-ion batteries to store the excess energy. This information is published by Fortune Business Insights in its latest report, “Lithium Mining Market Size, Share & Industry Analysis with Regional Forecast, 2021-2028.”
Key Industry Developments:
A team of scientists from the Karlsruhe Institute of Technology (KIT) has invented a new minimally invasive method for extracting lithium from deep water in geothermal plants of the Upper Rhine Graben, Germany. In the first step, the lithium ions are filtered out of the thermal water and then concentrated.
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| report coverage | details |
| forecast period | 2021-2028 |
| Forecast period 2021 to 2028 CAGR | 6% |
| Value prognosis 2028 | $516.22 million |
| base year | 2020 |
| Market size in 2020 | $321.36 million |
| Historical data for | 2017-2019 |
| number of pages | 230 |
| segments covered | Segmentation of the lithium mining market by source (brine, hard rock), by type (chloride, hydroxide, carbonate, concentrate) and region |
| growth accelerator | Increasing use for the manufacture of glass ceramic cooktops to increase growth |
| Key companies aim to develop new mining technologies to compete in the market |
Driver & Restraints-
Various lithium compounds such as spodumene and lithium carbonate are used extensively in ceramics and glass to produce glazes and enamels. These are able to improve viscosity for coatings, increase the strength of ceramic bodies, thermal…
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