The global lithium mining market will grow at a compound annual growth rate of 20.8% to $1.35 billion in 2026, according to a newly released report by Research and Markets.
“Until 1990s, the lithium market was dominated by the Americas in terms of production from mineral deposits. In 21st century, this scenario changed completely, and most of the world’s lithium began to be produced by Australia, Chile and China, which are now among world’s largest suppliers of lithium,” state the report’s authors.
Lithium is not a rare metal, as it is widely available and distributed globally.
According to the report the major source of lithium, a key element in the production of batteries, in 2020 was salt brines at 60%, while extraction from minerals accounted for 24% and clay deposits and other sources accounted for 16%.
The most important players identified in this rapidly growing sector are Albemarle Corp., Allkem Ltd., Livent Corp., Sociedad Quimica (SQM), Tianqi Lithium, and Orocobre Ltd.
