Lithium is the lightest metal, has strong electrochemical potential and is highly reactive element making it flammable and potentially explosive when exposed to air and water. The metal does not occur in elemental form due its high reactivity and found in lithium containing minerals in hard rock deposits, lithium rich clays and brine flats.
Lithium has a number of unique properties including high electrochemical reactivity, a low thermal expansion co-efficient and high specific heat capacity. It is these properties which allow Lithium to be used in a wide range of industrial applications, including ceramics, lubricants and glass, but the largest (and highest growth segment) of the global lithium market is its use in the manufacture of Lithium-ion (Li-ion) batteries.
Lithium-ion batteries have become the most important application of lithium and storage technology in the areas of portable and mobile applications (e.g. laptops, cell phones, smartphones, tablets, power tools, medical devices electric bicycles, electric cars) since around 2000.
The key factors driving the growth of lithium demand are decrease in lithium-ion battery costs, rise in global electric vehicle market and growing integration of complicated electronics & energy recovery systems. Some of the noteworthy trends and developments of this industry are lithium in the batteries, technological edge, emerging energy storage market, improvement in the lithium-ion battery, lithium-ion batteries demand to accelerate with high investments and tesla’s entry into the lithium-ion market. However, the expansion of lithium demand is hindered by life span, charging time, specific energy and specific power and safety issues.
The report “Global Lithium Market” provides an in-depth analysis of the lithium demand on a global scale discussing its major segments along with the lithium-ion batteries market. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The industry comprises few large players such as Albemarle Corporation, SQM, FMC Corporation and Orocobre Limited. All these companies have been profiled in the present report highlighting their key financials and business strategies for growth.