Blockchain Press Releases
Lithium Metal Market to Reach $13.5 Billion, Globally, by 2032 at 12.1% CAGR: Allied Market Research
The global lithium metal market is driven by an increase in demand from the electric vehicle industry. The demand for EVs is increasing as governments and consumers worldwide prioritize sustainable transportation, subsequently boosting the demand for lithium metal.
PORTLAND, Ore, Aug. 18, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Lithium Metal Market by Source (Salt Brine Deposits, Lithium-Rich Clays), By Application (Batteries, Alloys, Intermediate, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the lithium metal market was valued at $4.3 billion in 2022 and is estimated to reach $13.5 billion by 2032, exhibiting a CAGR of 12.1% from 2023 to 2032.
The global lithium metal market is a pivotal landscape within the global business arena, driven by the escalating demand for lithium-ion batteries across various industries, including electronics, automotive, and renewable energy. As these sectors continue to expand, the need for high-performance, energy-dense batteries has intensified, propelling the demand for lithium metal—a key component in battery production. Companies operating in the lithium metal market are witnessing a dynamic landscape marked by technological advancements, supply chain challenges, and evolving regulatory frameworks. Strategic partnerships, investments in research and development, and efforts to ensure a sustainable and efficient supply of lithium metal are crucial for businesses aiming to capitalize on the growing market opportunities and address the increasing environmental concerns associated with resource extraction and battery disposal.
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Prime determinants of growth
The proliferation of smartphones, laptops, tablets, and other portable electronic devices drives the growth of the global lithium metal market. However, there have been concerns about potential supply constraints due to the limited number of lithium metal producers and the time it takes to bring new lithium metal mining operations online. This supply-demand imbalance can lead to price volatility and affect the availability of lithium for various industries. This factor is projected to restrain the growth of the lithium metal market during the forecast period.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$4.3 billion |
|
Market Size in 2032 |
$13.5 billion |
|
CAGR |
12.1 % |
|
No. of Pages in Report |
400 |
|
Segments covered |
Source, Application, and Region. |
|
Drivers |
Escalating demand from the electric vehicle (EV) industry Energy Storage Solutions Increase in demand for industrial applications |
|
Opportunities |
Sustainable mining and recycling Diversification of lithium metal sources |
|
Restraints |
Supply and demand imbalance Geopolitical Factors |
Covid-19 Scenario
- The lithium metal market was negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on the aerospace, portable electronics, industrial, and other sectors. The pandemic disrupted supply chains worldwide, including those in the lithium industry.
- However, the demand for products and technologies that use lithium, such as electric vehicles and renewable energy storage systems, witnessed an incline as economies reopened and economic activities resumed.
- The demand for electric vehicles has remained the same post-COVID-19 as consumers and governments continue to focus on sustainability and reduce carbon emissions, leading to increased demand for lithium-ion batteries.
The salt brine deposits segment to maintain its lead position during the forecast period
Based on source, the salt brine deposits segment accounted for the largest share in 2022, contributing to around three-fourths of the global lithium metal market revenue. The lithium industry is focusing on extensive R&D to explore new technologies and applications for lithium. While lithium metal from salt brine deposits may not be commonly used nowadays, advancements in battery technology or other specialized applications are projected to create new opportunities for its utilization in the future. The Lithium-Rich Clays segment, on the other hand, would cite the fastest CAGR OF 12.3% by 2032.
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The batteries segment to maintain its lead position during the forecast period
Based on the application, the batteries segment accounted for the largest share in 2022, contributing to nearly three-fifths of the global lithium metal market revenue. The global shift toward electric vehicles is one of the primary drivers of the increase in demand for lithium metal used for producing lithium-ion batteries. There is a growing focus on transitioning from fossil-fuel-powered vehicles to electric cars as countries and regions aim to reduce carbon emissions and combat climate change. Furthermore, the widespread use of smartphones, laptops, tablets, and other portable electronic devices has contributed significantly to the demand for lithium metal for producing lithium-ion batteries. The same segment is also projected to showcase the fastest CAGR of 12.4% from 2023 to 2032.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-thirds of the global lithium metal market and is projected to register the highest CAGR of 12.2% during the forecast period. The rapid pace of urbanization and industrial development in countries like China and India has led to increased demand for consumer electronics and portable devices. This surge in demand for smartphones, laptops, and other electronic gadgets has driven the need for lithium-ion batteries, which utilize lithium metal. Moreover, the Asia-Pacific region is also home to significant lithium metal resources, particularly in Australia. Developing these local resources contributes to securing a stable supply of lithium metal for the region’s growing industries.
Leading Market Players: –
- TIANQUI LITHIUM INDUSTRIES INC.
- SHENZHEN CHENGXIN LITHIUM GROUP CO., LTD.
- SQM S.A.
- PIEDMONT LITHIUM
- A123 SYSTEMS LLC
- GANFENG LITHIUM CO., LTD.
- LIVENT
- ALLKEM LIMITED
- ALBEMARLE CORPORATION.
- MINERAL RESOURCES LIMITED
The report provides a detailed analysis of these key players in the global lithium metal market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase their flair in the industry.
Want to Access the Statistical Data and Graphs, Key Players’ Strategies:
https://www.alliedmarketresearch.com/lithium-metal-market/purchase-options
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Blockchain Press Releases
Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications
NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.
About Webb
Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.
The Challenge and Our Solution
Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.
Why Tangle Network?
Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:
- Proof Generation: Delegate computational tasks to our validators.
- Trusted Setups: Tangle Network manages complex ceremonies for you.
- Secure Signing: Utilize our threshold signing for cross-chain operations.
By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.
Noteworthy Features
- Unparalleled speed, security, and scalability via Substrate.
- Decentralized control through Distributed Key Generation (DKG).
- Advanced protocols for zero-knowledge applications.
- Cross-chain compatibility with IBC and XCM.
- Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
- Smooth, forkless upgrades.
What’s Next?
The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.
Testnet Quick Links
- Whitepaper: Read here.
- Get Started: PolkadotApps for Tangle Network
- Documentation: docs.webb.tools
Get Involved
- Developers: Start building on Tangle today. Learn More
- Validators and Relayers: Help secure and maintain the network. Learn More
- Join the Community: Follow us on Twitter or join our Discord.
Contact Us
For media inquiries, partnerships, or more information, email us at [email protected]
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Blockchain Press Releases
ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets
SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”
The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).
Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.
Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.
Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges. ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.
For detailed insights into ChainUp’s innovative solutions, please visit: https://www.chainup.com?channel=pr&type=article
About ChainUp
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.
CONTACT: Jacelynn Pang, [email protected]
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SINGAPORE, Sept. 27, 2023 /PRNewswire/ — BingX, a leading global cryptocurrency exchange, is thrilled to announce its integration with WunderTrading, a cutting-edge platform that allows users to trade and invest crypto seamlessly using automated trading bots. This strategic partnership is aimed at enhancing the automated trading experience for BingX users and introducing a new level of convenience and innovation.
WunderTrading is a cloud-based cryptocurrency trading platform that simplifies cryptocurrency trading experience for beginners. Users can easily copy strategies of renowned traders or create their own. The platform offers an advanced trading terminal and automated bots integrated with TradingView, allowing users to manage portfolios efficiently within a single app. WunderTrading stands out by consolidating trading tools, enhancing user experience, and introducing unique features like the Spread-trading Terminal.
The integration of BingX and WunderTrading offers BingX users a significant advantage. With access to TradingView integration and the innovative Spread-trading Terminal, users can automate their trading strategies and diversify their portfolios with minimal risk. The Spread-trading terminal enables BingX users to choose assets for constructing a spread and will execute buy and sell orders simultaneously for the selected pairs. This integration empowers BingX users to create and fine-tune crypto trading bots swiftly, providing a unique opportunity to optimize their trading while minimizing market volatility risks.
Megan Nyvold, Head of Branding at BingX, expressed her excitement about the collaboration, saying, “BingX is always striving to offer our users the most innovative and user-friendly tools to navigate the crypto market with efficiency and greater ease. Our partnership with WunderTrading is a significant step forward. With this integration, we empower our users to trade smarter, diversify their portfolios, and navigate the crypto market with newfound confidence. We’re excited to see our users leverage the power of automated trading through WunderTrading and make the most of this enhanced trading experience.”
As BingX and WunderTrading join forces, users can look forward to an enhanced trading journey filled with innovative tools and features designed to optimize their trading strategies.
About BingX
BingX is a leading crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX continues to connect users with expert traders and the platform in a safe and innovative way. Please visit https://bingx.com to learn about BingX.
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