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Bullish Sentiments Continue for Global Lithium Mining Industry as Demand Soars: Report

Global lithium mining market is expected to register a CAGR of 6.8% over the forecast period and revenue is projected to increase from USD 3.33 Billion in 2020 to USD 6.37 Billion in 2030.

August 18, 2022. By News Bureau

Global lithium mining market is expected to register a CAGR of 6.8% over the forecast period and revenue is projected to increase from USD 3.33 Billion in 2020 to USD 6.37 Billion in 2030. Increasing demand for lithium for manufacturing EV batteries is boosting market revenue growth.

A report from Emergen Research says that the global lithium mining market revenue growth is expected to be driven by factors such as increasing demand for consumer electronics products and for lithium for manufacturing Electric Vehicle (EV) batteries.

In addition, rising use of lithium-ion batteries in grid-scale energy storage systems and application of lithium in ceramic and glass manufacturing are some other factors expected to boost revenue growth of the market over the forecast period. Furthermore, rapid technological advancements in mining processes is a key trend that will continue to support global lithium mining market revenue growth going ahead.

Global lithium mining market revenue growth is also expected to be driven by increasing application of lithium in ceramic and glass manufacturing. Lithium reduces thermal expansion and firing temperatures and boosts the strength of ceramic components. Addition of lithium to glazes enhances viscosity for coatings, and enhances color, boosting strength and lustre of glaze.

This is driving use of lithium in ceramic manufacturing. In addition, high coefficient of thermal expansion of lithium makes products thermal shock resistant and also imparts mechanical strength, which is boosting adoption rate of lithium for specialty applications.

Active mining companies in the markets this week include Clear Sky Lithium Corp., Lithium Americas Corp., Standard Lithium Ltd., American Lithium Corp., Livent Corporation.

Company CEO, Patrick Morris, notes, "Our team is very excited by the Halo Project and I thank everyone involved for executing this agreement and the initial payment as quickly as they did. We feel that this project holds a lot of potential and we have already started the planning for a site visit and work programs. This acquisition lets us get in on the proverbial ground floor, in a region where lithium has already been proven to be located, and we intend to build upon that base."

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