Lithium Mining Market Analysis including Reserves, Production, Operating, Developing and Exploration Assets, Demand Drivers, Key Players and Forecasts, 2020-2025

Pages: 60 Published: December 01, 2021 Report Code: GDMMGLI003MR

  • Overview
  • Key Players
  • Contents
  • Tables
  • Figures
  • FAQ
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The growing adoption of electric vehicles (EVs) is rapidly increasing demand for lithium. Global lithium metal production registered a decline in 2020 to 82.0kt, amid declining prices and the COVID-19 pandemic. The COVID-19 pandemic had a significant impact on lithium demand during the first half of 2020, although demand picked up in the latter half of the year, owing to strong growth in the lithium-ion battery sector.

The global lithium mining market is forecast to grow at a CAGR of more than 15% over 2021-2025. New mines and capacity expansions are forecast to boost the global lithium production. Most of this growth will originate from Australia, with the existing mines ramping up production such as Mount Cattlin and Pilgangoora. Additionally, the expansion of Greenbushes Lithium Operations, as well as the resumption of Wodgina, which are both expected to occur by 2023, will further boost output.

Global lithium mining market overview

Global lithium mining market overview

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What are the lithium mining dynamics?

The growing adoption of electric vehicles (EVs) is rapidly increasing demand for lithium. Despite a slowdown in the market, global battery demand rose in 2020, supported by a shift in the design and advancement of battery technology. In 2020, the global lithium demand and supply gap narrowed primarily due to an increase in demand for electric vehicles, especially during the second half of 2020.

The COVID-19 pandemic had a significant impact on lithium demand during the first half of 2020, although demand picked up in the latter half of the year, owing to strong growth in the lithium-ion battery sector.

The lithium market is expected to be in surplus for the next few years, owing to the commencement of various key upcoming projects including Kathleen Valley, Cauchari-Olaroz, Mount Finniss and Salar del Hombre. Most of this growth will originate from Australia, with the existing mines ramping up production such as Mount Cattlin and Pilgangoora. Additionally, the expansion of Greenbushes Lithium Operations, as well as the resumption of Wodgina, which are both expected to occur by 2023, will further boost output. Subsequently, demand is also expected to rebound, driven by increasing adoption of EVs.

Furthermore, vehicle manufacturers and lithium cell suppliers are planning battery plants with larger capacities to meet surging demand. US start-up, 24M is advancing with its semi-solid-state technology, which will provide lower costing per cell and a simpler manufacturing process.

What is the categorization of lithium mining assets?

The lithium assets are categorized into active mines, development projects and exploration projects. Each category provides additional information about the mines/projects regarding the mining method, mine stage, total ore reserves, saleable production year, equity owners etc.

Globally, Mount Marion Lithium Project is the active mine with the highest Saleable lithium carbonate production quantity. Kathleen Valley Project (Liontown Resources) is the development project with the highest lithium production capacity while TLC Project is the exploration project with the highest ore resources.

What are the top countries for the lithium mining market?

Chile, Australia, Argentina, China, and the US were top countries for global lithium reserves. These were followed by Canada, Zimbabwe, Brazil, and Portugal. Australia accounted for the highest global lithium production followed by Chile and Argentina.

The impact of COVID-19 towards lithium production has been limited in Australia compared to other countries, owing to the effective adoption of COVID-19 preventive measures to keep mining operations unaffected. The rapid spread of COVID-19 in Chile resulted in decline in the country’s lithium output in 2020. Over the next four years, however, the country’s lithium production is expected to grow.

Global lithium mining market, by region

Global lithium mining market, by region

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Who are the major players in the lithium mining market?

Albemarle Corporation, SQM, Jiangxi Gangfeng Lithium, Livent Corp. and Orocobre Ltd are among the major players in the global lithium mining industry.

Albemarle Corporation operates under three reportable segments, namely, lithium, bromine specialties and catalysts. Its lithium business develops lithium-based materials and compounds such as lithium carbonate, lithium hydroxide, lithium chloride and value-added lithium specialties and reagents. Sociedad Quimica y Minera de Chile SA wholly owns and operates the Salar de Atacama mine in Chile, and a development project, the Mt Holland Lithium project, in Australia.

Global lithium mining market, by key players

Global lithium mining market, by key players

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Market report scope

Market Volume (Year – 2020) 82.0kt
Growth rate CAGR of >15% from 2021 to 2025
Base year for estimation 2020
Asset categories Active mines, Development projects and Exploration Projects
Country coverage Chile, Australia, Argentina, China, The US, Canada and Others
Forecast period 20212025
Key companies Albemarle Corporation, SQM, Jiangxi Gangfeng Lithium, Livent Corp. and Orocobre Ltd.

The report also provides detailed information on reserves, production, production by company and country, major active, exploration and development projects by region.

Reasons to Buy

  • Comprehensive evaluation of the impact of COVID-19 on global lithium industry
  • To gain an understanding of the global lithium mining industry, relevant driving factors
  • To understand historical and forecast trend on global lithium production
  • To identify key players in the global lithium mining industry
  • To identify major active, exploration and development projects by region
  • To identify the key countries by lithium production and consumption in the lithium mining industry.

Key Players

Albemarle Corporation, SQM, Jiangxi Gangfeng Lithium, Livent Corp., Orocobre Ltd

Table of Contents

1 Executive Summary

2 Reserves, Production and Prices

2.1 Global Lithium Reserves by Country

– Chile

– Australia

– Argentina

– China

– US

2.2 Lithium Production

– Production by country

– Australia

– Chile

– Argentina

– Production Cost

– Direct Lithium Extraction

2.3 Lithium Price Analysis

3 Lithium Assets

3.1 Active Mines

3.2 Development Projects

3.3 Exploration Projects

4 Demand and Trade

4.1 Global Lithium Demand

– Lithium Consumption

– Lithium Carbonate Trade

4.2 Global Electric Vehicles (EVs) Market

– Global Battery Demand and Technology Update

– EV Production by Major Market

– New EV Sales (BEVs and PHEVs)

– EV Stocks (BEVs and PHEVs)

– Policies Promoting EVs Growth

4.3 Global Lithium Market Balance

4.4 M&As in the global lithium industry

5 Major Lithium Producers

5.1 Mines and Projects by Stage and Country

5.2 Albemarle Corporation

5.3 Sociedad Quimica y Minera de Chile SA

5.4 Jiangxi Ganfeng Lithium Co. Ltd

5.5 Livent Corp.

5.6 Orocobre Ltd

6 Appendix

6.1 Abbreviations

6.2 Methodology

6.3 Coverage

6.4 Secondary Research

6.5 Development Likelihood

List of Tables

Table 1: Global Lithium Mining – Lithium Reserves by Country (Million Tonnes), January 2021

Table 2: Global Lithium Mining – Top Active Mines in Australia by Total Ore Reserves (Million Tonnes)

Table 3: Global Lithium Mining – Top Active Mines in Argentina by Total Ore Reserves (Million Tonnes)

Table 4: Global Lithium Mining – Top Active Mines in China by Total Ore Reserves (Million Tonnes)

Table 5: Global Lithium Mining – Historical and Forecast Lithium Production (Thousand Tonnes), 2005–2025

Table 6: Global Lithium Mining – Lithium Mine Production by Country (Thousand Tonnes), 2005–2025

Table 7: Global Lithium Mining – Lithium Mine Production in Australia (Thousand Tonnes), 2005–2025

Table 8: Global Lithium Mining – Lithium Mine Production in Chile (Thousand Tonnes), 2005–2025

Table 9: Global Lithium Mining – Lithium Mine Production in Argentina (Thousand Tonnes), 2005–2025

Table 10: Global Lithium Mining – Lithium Hydroxide Cost of Production (US$/t), 2020

Table 11: Global Lithium Mining – Lithium Carbonate Cost of Production (US$/t), 2020

Table 12: Global Lithium Mining – New Technologies, 2021

Table 13: Global Lithium Mining – Lithium Pricing Landscape, 2021

Table 14: Global Lithium Mining – Key Active Mines, 2021

Table 15: Global Lithium Mining – Key Development Projects, 2021

Table 16: Global Lithium Mining – Key Exploration Projects, 2021

Table 17: Global Lithium Mining – Historical and Forecast Lithium Consumption (Thousand Tonnes), 2005–2025

Table 18: Global Lithium Mining – Top Lithium Carbonate Exporters, 2020

Table 19: Global Lithium Mining – Top Lithium Carbonate Importers, 2020

Table 20: Global Lithium Mining – Battery Energy Storage Market, Battery Technology Overview, 2021

Table 21: Global Lithium Mining – Global EV battery shipments (GWH)

Table 22: Global Lithium Mining – EV Production by Major Market (Thousand Vehicles), 2015–2035

Table 23: Global Lithium Mining – EV Production by Type (Thousand Vehicles), 2015–2035

Table 24: Global Lithium Mining – Completed Deals in Lithium Industry, 2021

Table 25: Global Lithium Mining – Announced Deals in Lithium Industry, 2021

Table 26: Global Lithium Mining – Projects Count by Country and Stage, 2021

Table 27: Global Lithium Mining – Projects Count by Company and Stage, 2021

Table 28: Global Lithium Mining – Albemarle Corporation, Major Projects, 2021

Table 29: Global Lithium Mining – SQM, Major Projects, 2021

Table 30: Global Lithium Mining – Jiangxi Ganfeng Lithium Co. Ltd, Major Projects, 2021

Table 31: Global Lithium Mining – Livent Corp, Major Projects, 2021

Table 32: Global Lithium Mining – Orocobre Ltd, Major Projects, 2021

Table 33: Likelihood: High

Table 34: Likelihood: Medium

Table 35: Likelihood: Low

List of Figures

Figure 1: Global Lithium Mining – Lithium Reserves by Country (Million Tonnes), 2017 – 2021

Figure 2: Global Lithium Mining – Lithium Reserves by Country (%), January 2021

Figure 3: Global Lithium Mining – Lithium Reserves in Australia (%), 2021

Figure 4: Global Lithium Mining – Historical and Forecast Lithium Production (Thousand Tonnes), 2005–2025

Figure 5: Global Lithium Mining – Lithium Mine Production by Country (Thousand Tonnes), 2019–2020

Figure 6: Global Lithium Mining – Lithium Mine Production in Australia (Thousand Tonnes), 2005–2025

Figure 7: Global Lithium Mining – Lithium Mine Production in Chile (Thousand Tonnes), 2005–2025

Figure 8: Global Lithium Mining – Lithium Mine Production in Argentina (Thousand Tonnes), 2005–2025

Figure 9: Global Lithium Mining – World Lithium Carbonate Prices, Quarterly (US$/Tonne), 2010–2025

Figure 10: Global Lithium Mining – Lithium Demand by End-Use (%), 2020

Figure 11: Global Lithium Mining – Historical and Forecast Lithium Consumption (Thousand Tonnes), 2005–2025

Figure 12: Global Lithium Mining – Top Exporters and Importers of Lithium Carbonates, 2020

Figure 13: Global Lithium Mining – Global EV Battery Demand by Type of Vehicle (GWh), 2014–2025

Figure 14: Global Lithium Mining – Lithium-ion Battery Capacity by Geography (GWh), 2020–2026

Figure 15: Global Lithium Mining – EV Production by Major Market (Thousand Vehicles), 2015–2035

Figure 16: Global Lithium Mining – EV Production by Type (Thousand Vehicles), 2015–2035

Figure 17: Global Lithium Mining – New EV Sales by Country (Thousand Vehicles), 2010–2020

Figure 18: Global Lithium Mining – New EV Sales Trend in Top 10 Countries (Thousand Vehicles), 2011–2020

Figure 19: Global Lithium Mining – New EV Sales by Country (%), 2011 vs 2020

Figure 20: Global Lithium Mining – New EV Sales by Type (Thousand Vehicles), 2011–2020

Figure 21: Global Lithium Mining – EV Stocks by Type (Million Vehicles), 2010–2020

Figure 22: Global Lithium Mining – EV Stocks by Type by Country (Thousand Vehicles), 2020

Figure 23: Global Lithium Mining – Chinese Policies, 2009 – 2021

Figure 24: Global Lithium Mining –Policies in South Korea, India and Japan, 2016 – 2021

Figure 25: Global Lithium Mining – Europe Union Policies

Figure 26: Global Lithium Mining – Lithium Market Balance (kt), 2015–2025

Figure 27: Global Lithium Mining – Projects Count by Country and Stage (%), 2021

Frequently Asked Questions

The global lithium mining market volume was estimated at 82.0kt in 2020.

 

 

 

 

The global lithium mining market is expected to grow at a compound annual growth rate of more than 15% from 2021 to 2025.

Australia had the largest share in the global lithium mining market by production in 2020, followed by Chile and Argentina.

Albemarle Corporation, SQM, Jiangxi Gangfeng Lithium, Livent Corp. and Orocobre Ltd. are among the major players in the global lithium mining industry.

The high-potential countries identified were Chile, Australia, Argentina, China, Russia, and the US.

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