Market Research Global Lithium Market Analysis 2018

The global lithium market is expected to register a CAGR of 9.33% during the forecast period,
2018 to 2023. Asia-Pacific region is estimated to lead the market, owing to its rapid increase in
production of electrical vehicles and consumer electronics. Battery segment is expected to be the
fastest growing by application.
Accelerating Demand for Electric Vehicles
Lithium-ion batteries comprise of a family of battery chemistries, which combine a variety of
anode and cathode combinations, to offer distinctive performance, cost, and other parameters.
The growing adoption of electric vehicles (EVs) is driven by the rising concerns for the
environment, as these vehicles help reduce carbon emission levels. Governments across the
globe are implementing stringent emission norms, to control and reduce carbon emissions.
Lithium is used in high-energy density rechargeable lithium-ion batteries, employed to power the
batteries in full-electric, plug-in hybrid, and hybrid vehicles (EVs, PHEVs, and HEVs). Due to
developments in EV technology, concerns over growing CO2 pollution, and increasing fuel costs
from combustion engines, lithium has been put into extensive use in EV batteries. Lithiums
combination of low mass and high electrochemical potential makes it perfect for EV battery
usage. Registrations of electric cars hit a new record in 2016, with sales of over 750,000 units
worldwide. China was the largest electric car market in 2016, with a share of 45%. Around
336,000 new electric cars were registered in China. Electric car sales in China were more than
double the sales in the United States in 2016.
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Battery - The Fastest Growing End-user Industry
The battery application segment of the global lithium market was the largest application
segment, in terms of both volume and revenue, having surpassed the glass-ceramic segment (the
largest application segment till 2014), over the past two years. Lithium batteries can be
categorized into two segments, namely, disposable, and rechargeable. Disposable lithium
batteries use lithium in the metallic form, as an anode. These batteries have long life (high charge
density) compared to other standard batteries. These batteries find application in critical devices
with long life, such as pacemakers and other electronic medical devices, which are implanted for
many years. Lithium-ion batteries are employed in several applications, including
telecommunication devices and consumer electronics. The lightweight characteristics of lithium-
ion batteries, along with high energy density and rechargeability, makes them a good fit for
portable electronics. Because of its energy density and lack of memory effect, lithium-ion and
lithium polymer rechargeable batteries are the most efficient power source for mobile
telephones, laptops, and other electronic portable devices. The growing usage of batteries can be
attributed to the demand from markets, such as electric vehicles (EVs), cell phones, laptops,
tablets, power tools, video games, toys, e-bikes, and other electronic devices.
Asia-Pacific Region to Lead the Market
China constitutes of around 26% of the global lithium reserves, estimated at a value of 26.52 Mt
in 2015. China accounts for 10% of the global lithium production capacity accounting for 18 kt,
in 2015. Abundant availability of resources such as brine, spodumene, and other lithium
deposits, accounting for around 11% of the global resources has 30.03 Mt LCE. The Mt. Marion