One thing all experts agree on is that the demand for lithium will continue to rise at an ever-increasing rate in the next several years.
The rising use of lithium in batteries, steel, lubricants, and aluminum products will create lucrative opportunities for the global lithium mining market during the forecast period, according to a report by Fairfield Market Research.
The global lithium mining market stood at $829.73 million in 2019 and is expected to reach $1.63 billion by 2025, registering a CAGR of 26.3 percent from 2020 to 2025. Another research firm, Emergen Research added that the increased utilization of lithium-ion batteries in grid storage is a key factor driving lithium mining market revenue growth. They added, “The batteries segment accounted for a largest revenue share in 2021. Lithium-ion batteries' rising popularity is expected to drive revenue growth of this segment. I