Global Direct Lithium Extraction Technology Services Market Overview:
Direct lithium extraction (DLE) technology services refer to a collection of novel methods and technologies for extracting lithium from brine or other sources in more efficient and ecologically friendly manner than standard extraction processes. Lithium is an important element that is used in batteries for electrical vehicles, energy storage systems, portable devices and variety of other purposes. DLE technology services strive to improve the lithium extraction process by lowering water consumption, energy consumption and environmental impact while boosting overall lithium yield.
As per latest study released by AMA Research, the Global Direct Lithium Extraction Technology Services market is expected to see growth rate of 49.3% and may see market size of USD4561.0 Million by 2028.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Ongoing Research and Development Efforts are Improving the Efficiency and Increasing Focused on Development of New DLE Methods
Market Growth Drivers:
DLE Services Provide a more Environmentally Friendly and Cost-effective Alternative to Traditional Lithium Extraction Procedures and DLE Technology Services are Gaining Popularity Because They Use Less Water, have a Lower Environmental Effect and Use Less Energy
Challenges:
Lack of Skilled Labour to Operate and Maintain Direct Lithium Extraction Technology
Restraints:
DLE Technology Requires Expensive Materials and Sophisticated Equipment, making it Challenging to Achieve Cost Effectiveness
Opportunities:
Increasing Demand of Lithium Batteries for Electronic Vehicles and The Scalability and Possibility for Deployment in Lithium Rich Regions Increases Interest in DLE Technology Services
Competitive Landscape:
The global direct lithium extraction technology services market is highly fragmented, with fierce competition among the top players for a large share of the global market. The majority of market players are vertically integrated, with a diverse product portfolio of direct lithium extraction technology materials.
Some of the key players profiled in the report are Benchmark Minerals (United Kingdom), Lilac Solutions (United States), American Lithium Energy (United States), Energy Source Minerals (United States), Standard Lithium (Canada), Battery Resources (Canada), Ioneer (Australia), Galaxy Lithium (Australia) and Energy Exploration Technologies (Canada). Additionally, following companies can also be profiled that are part of our coverage like Sumit Nano Tech Corporation (United States), Controlled Thermal Resources (United States), E3 Metals Corp (Canada), Piedmont Lithium (United States) and Schlumberger New Energy (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Direct Lithium Extraction Technology Services market by 2028. Considering Market by By Application, the sub-segment i.e. Salt Lake Brine Extraction will boost the Direct Lithium Extraction Technology Services market.
Latest Market Insights:
On October 2023, Lilac Solutions announced the completion of its acquisition of Standard Lithium, a company developing DLE technology for the extraction of lithium from brine resources. The acquisition is expected to create a leading DLE company with a strong technology portfolio and a significant pipeline of development projects.
On October 2023, Galaxy Lithium announced the commercialization of its DLE technology, which is expected to reduce the cost and environmental impact of lithium production. The company plans to deploy its direct lithium extraction technology at its Sal de Vida lithium project in Argentina.
What Can be Explored with the Direct Lithium Extraction Technology Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Direct Lithium Extraction Technology Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Direct Lithium Extraction Technology Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Direct Lithium Extraction Technology Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Direct Lithium Extraction Technology Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Government Bodies, Research Organizations, New Entrants and Investors, Suppliers & Distributers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.