About Lithium Carbonate for Electric Vehicles
Lithium carbonate is a lithium compound that, as the name implies, combines with carbonates to form a salt. Lithium carbonate is primarily produced by precipitating it from underground brine pools, removing unwanted compounds, and adding sodium carbonate. Its main industrial application is to manufacture rechargeable batteries by using lithium carbonate as a primary compound, which is then converted into those that serve as a cathode and electrode. Battery-grade lithium carbonate can be used to create cathode material for lithium-ion batteries, but the majority of contaminants must be removed before the material can be considered battery grade.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
To entice more end users, market players are focusing on providing lithium carbonate for electric vehicles of higher quality while adhering to all regulatory standards. In the global lithium carbonate for electric vehicles market, there are numerous large and small-scale manufacturers. They are also concentrating on the implementation of numerous advanced technologies. Furthermore, the numerous industry profits have led to the entry of new players, raising the level of rivalry in an already competitive market. The lithium carbonate for electric vehicles market is currently expanding due to the increasing number of technological advancements in EV and Renewable energy storage. Some of the key players in this market follow strategies, which include new product offerings, product approvals, partnerships and alliances, mergers and acquisitions, and business expansions. Analyst at AMA Research estimates that China Vendors will contribute the maximum growth to Global Lithium Carbonate for Electric Vehicles market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Orocobre (Australia), Ganfeng lithium industry (China), Shandong Ruifu Lithium Industry (China), Targray (Canada), Piedmont Lithium (United States), Jiangxi Ganfeng Lithium Co. Ltd (China), Albemarle (United States), Tianqi Lithium (China) and Pilbara Minerals (Australia) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Lithium Carbonate for Electric Vehicles market by Type (99.5 % and >99.5 %), Application (Lithium cobalt oxide battery, Lithium nickel manganese cobalt oxide battery, Lithium manganese oxide battery and Lithium iron phosphate battery) and Region.
On the basis of geography, the market of Lithium Carbonate for Electric Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Vertical, the sub-segment i.e. EV {Four Wheeler, Two Wheeler} will boost the Lithium Carbonate for Electric Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Spodumene ore via hard rock mining will boost the Lithium Carbonate for Electric Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Lithium Carbonate for Electric Vehicles Market Dynamics:
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Growth Drivers | - The Rapid Adoption of EVs has Been Driving the Market Growth.
- Trends
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Influencing Trends | - The Technological Advancement in Increasing Battery Life has Been Contributing to More Adoption of EV Thus Having a Positive Impact on Lithium Carbonate for EV Market.
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Restraints | - The High Toxicity of Material May Restrains the Market Growth.
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Road Blocks / Challenges | - The Limitations in Production Technics Have Been Hindering the Market Growth.
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Gaps & Opportunities | - The Rise in Investment in R&D in Autonomous Vehicles Will is Generating More Opportunities for Market Growth.
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Market Leaders and their expansionary development strategies
In October 2021, Storz Power and Targray are officially announcing their new Battery Supply Chain Partnership. The two companies have a wealth of combined experience in manufacturing, distribution, renewable energy development, and creating value at the source that flows to the end consumer. With the launch of the Storz Power Battery Supply Chain Partnership, Storz Power and Targray will be sharing multiple responsibilities including Accelerating the mass adoption of renewable energy, Working together to create a more robust energy grid, and Improving manufacturing processes and quality.
Mexico, another CPTPP member, recently announced plans to nationalize its newly discovered lithium deposits. Such a direct expropriation would be legal if used for a public purpose, without discrimination, with prompt, adequate, and effective compensation, and with due process. A claim of indirect expropriation is more likely if domestic demands for supply chain justice were met to the detriment of a lithium investor, such as stricter environmental regulation or the refusal of a mining permit after consultation with an Indigenous community.
Key Target Audience
Lithium carbonate manufacturers, Battery Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.