Lithium Market Is Expected To Reach USD 74.80 Billion By 2030
San Francisco, 6 June 2024: The Report Lithium Market Size, Share & Trends Analysis Report By Product (Carbonate, Hydroxide), By Application (Automotive, Consumer Goods, Grid Storage), By Region, And Segment Forecasts, 2024 - 2030 Concerted efforts toward a fossil fuel-free economy have encouraged stakeholders to tap into the global lithium market. Automotive conglomerates are banking on lithium minerals used in the production of electric vehicles and rechargeable batteries. Lithium metal is adding value across industries, including aerospace and defense, with applications expanding in glass & ceramics, grid storage and consumer electronics. In layman’s language, lithium is a vital component in solid-state batteries and lithium-ion batteries. It provides higher energy density, repeated charging and discharging and more usable capacity vis-à-vis other battery types. Lithium-ion batteries use a lithium compound as graphite at the negative electrode and material at the positi