The size of the global lithium market will increase USD 34.6 billion between 2017-2022, accelerating at a CAGR of nearly 13% during the forecast period. This growth in market size will be attributed to the surge in demand from diversified applications such as glass and ceramics, lubricants, and power grid storage. 53% of this total market growth during the forecast period will come from the Asia-Pacific region, owing to the increasing use of lithium-ion batteries within the consumer electronics industry across emerging economies including China and India.
Additionally, our lithium market research identifies that the increasing adoption of lithium-ion batteries across various consumer electronic products will accelerate lithium market growth. Lithium-ion batteries can store a significant amount of power and can be supplied to the grid when it is required. Our lithium industry outlook also predicts one of the key trends in the market will be the low emission of carbon. Usage of lithium-ion batteries in electric vehicles helps reduce global warming by reducing carbon dioxide emissions from vehicles.
Several emerging trends are expected to gain traction and positively impact the global lithium market during the forecast period. These top trends include a rise in preference for renewable energy, the discovery of potential reserves, and an increase in R&D activities. These R&D investments will come from countries like the US, Chile, Australia, China, Germany, the UK, and Canada. Other insights provided within Technavio’s lithium market reports include:
View more lithium market growth insights: Download a free sample report now
Within our lithium industry research, we provide deep insights into the lithium market landscape and its segments. Our lithium market segmentation research offerings include:
In addition, to help our clients better understand this changing market landscape, our lithium industry analysis provides detailed insights into several applications for the lithium market.
Further, our lithium industry report portfolio provides an in-depth analysis of the several applications of the global lithium-ion battery market.
We at Technavio, with our comprehensive understanding of the lithium market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of lithium industry reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our lithium market research reports offer the following insights: