The lithium metal market is projected to grow from USD 2.5 billion in 2023 to USD 6.4 billion by 2028, at a CAGR of 20.4% from 2023 to 2028. Increasing demand for lithium metal batteries is expected to drive the lithium metal market. Additionally, the increasing usage of lithium metal in making aluminum-lithium alloy which is used for making aircraft and drone structures in the aerospace and defense industry has resulted in a significant increase in the demand for lithium metal across the globe.
Download PDF Brochure at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=48900800
Lithium-ion anode material segment, by application of the lithium metal market, is projected to be the fastest-growing segment from 2023 to 2028. Lithium metal anodes have gained attention in the development of solid-state batteries, which use solid electrolytes instead of liquid electrolytes. In recent years, there has been a significant increase in demand for solid-state batteries due to factors such as improved safety, higher energy density, and wider temperature range. Lithium metal anodes are compatible with solid-state battery designs, providing a pathway to next-generation battery technologies. These factors are expected to enhance the demand for the segment during the forecast period.
Salt lake brine segment, by the source of the lithium metal market, is projected to be the fastest-growing segment from 2023 to 2028. Salt Lake brines are found in various regions globally, including the “Lithium Triangle” in South America (Chile, Argentina, Bolivia) and other locations like the Clayton Valley in Nevada, USA. These brines often contain high concentrations of lithium, making them a valuable and abundant source of the metal.
Request FREE Sample of Report at https://www.marketsandmarkets.com/requestsampleNew.asp?id=48900800
Asia Pacific is projected to be the fastest-growing market for lithium metal during the forecast period. The demand for lithium metal in the Asia Pacific region is experiencing a significant increase. This growth can be attributed to factors such as the region witnessing a surge in the production and adoption of lithium metal batteries. Moreover, the Asia Pacific region is home to abundant lithium resources, providing a competitive advantage in terms of production and supply chain for lithium metal. Governments in the region are also actively supporting the development of the lithium industry through policy incentives and investments resulting in an efficient supply chain of lithium metal.
 Major players operating in the lithium metal market include Ganfeng Lithium Co., Ltd. (China), Tianqui Lithium Industries Inc. (China), Shenzhen Chengxin Lithium Group Co., Ltd. (China), Albemarle Corporation (US), and Livent Corporation (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, broader geographical use cases, and a larger product footprint.
