Lithium Mining Market Size, Share, Growth Analysis, By Source(Brine, Hardrock), By Type(Chloride, Lithium Hydroxide, Carbonate, Concentrate), By Region - Industry Forecast 2024-2031

Lithium Mining Market Driver

• Growing Demand for Lithium to Drive Market in Glass and Ceramic Manufacturing

In order to reduce firing temperatures and thermal expansion, increase the strength of ceramic bodies, enhance coating viscosity, and improve the colour, tenacity, and lustre of glazes, lithium compounds, specifically carbonate and spodumene, are increasingly used in glass and ceramics.

The metal is most commonly used to create glass-ceramic cooktops, when thermal expansion and thermal resistance are not necessary. During the projected period, the lithium mining market is expected to be driven by the rising demand for Li-based glasses and ceramics.

• Growing Mining Technological Advances to Support Market Dynamics

Mining for the metal would be accelerated by increasing technology investments in metallurgy and mining. These more energy- and resource-efficient mining processes have been developed as a result of recent technological investigations. Mining and extraction are now sustainable practises because new methods, such direct extraction technologies, use organic sieves rather than huge evaporation ponds. Therefore, throughout the anticipated period, the technical improvement and expanding advancements of such mining procedures will drive market expansion.

Lithium Mining Market Restraint

• Mining's environmental effects will limit market expansion

Lithium is extracted both from brines and from rocks. Water contamination results from the processing of mined metal, which involves evaporating brine and washing with sodium carbonate in shallow ponds coated with PVC. Additionally, it has an impact on groundwater quality and aggravates the issue of water scarcity. Small Li-particles are suspended in the air as a result of this sort of mining's dust pollution. Li-dust exposure over an extended period of time might lead to major respiratory problems. Li-ion battery recycling is extremely expensive due to a lack of recycling infrastructure. The market's growth rate is thought to be negatively impacted by this ecological aspect.