While lithium may be most commonly known for its use in batteries, its application extends into ceramics, lubricants, polymers, and even air treatment. Lithium is also incorporated into medicines used to treat a number of psychiatric illnesses. There are seven distinct lithium compounds, however, it is lithium carbonate that makes up the largest portion of the market at 48%.
Mineral sourcing through spudomene and brine remains the primary method of producing lithium and accounted for 50% of the market share in 2015. The top global producers of lithium are Australia, Chile, China, and Argentina, respectively.
While there are other uses for lithium, it is in fact the demand for high-performance lithium-ion batteries that is the driving force behind the market and its growth. Analysts at Technavio predict that the global lithium market, which was valued at 225,000 metric tons in 2015, will reach 328,100 metric tons by 2020, with a steady CAGR of 7.84%.
Top vendors in the Global Lithium Market
Albemarle
Albemarle Corporation, headquartered in Charlotte, North Carolina, is a premier specialty chemicals company with leading positions in attractive end markets around the world. With a broad customer reach and diverse end markets, Albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and derivatives, catalysts and surface treatment chemistries.
SQM
SQM, a worldwide company based in Chile and founded in 1968, has today a strong global presence in a wide variety of industries and applications through its five business lines: Specialty Plant Nutrition, Iodine and derivatives, Lithium and derivatives, Industrial Chemicals and Potassium.
Sichuan Tianqi Lithium Industries
Sichuan Tianqi Lithium Industries Inc. (Tianqi Lithium) is the world’s largest company in producing lithium from ores. The Company manages a range of aspects of the lithium acquisition and technological processes, encompassing Resources Development of lithium and lithium technologies research and development through to production and sales of mid to high-end lithium products.
FMC
FMC Corporation is a leading global speciality chemical company serving agricultural, industrial, environmental, and consumer markets globally for more than a century with innovative solutions, applications, and quality products. The company employs 5, 500 people throughout the world.
Galaxy Resources
Galaxy Resources Limited is a lithium-focused resources company, with assets spanning Australia, China, Canada and Argentina. Galaxy is currently advancing plans to develop the Sal de Vida Lithium and Potash Brine Project (“Sal de Vida”) in Argentina, which is situated in the Lithium Triangle, a region where Chile, Argentina and Bolivia meet, and presently accounts for 60% of global lithium production.
Jiangxi Ganfeng
Jiangxi Ganfeng Lithium Co.,Ltd is a hi-tech enterprise founded in 2000 which covers science, industry and trade. Main products include lithium chloride, lithium fluoride, lithium carbonate, lithium hydroxide, and lithium magnesium.
Neometals
Neometals Ltd, formerly Reed Resources Ltd, is an Australia-based company, which is engaged in advancing its mineral projects Mount Marion Lithium Project and Barrambie titanium Project, through exploration and evaluation of mineral of mineral processing initiatives.
Orocobre
As a leading company in Argentina’s “Lithium Triangle”, Orocobre has built the first large–scale, de-novo brine based lithium project in over 20 years at its flagship Salar de Olaroz resource. The Olaroz Lithium Facility began as a joint venture project built in partnership with Japanese trading giant Toyota Tsusho Corporation (“TTC”) and the mining investment company owned by the provincial Government of Jujuy, Jujuy Energia y Mineria Sociedad del Estado (“JEMSE”).
