Market Size of MEA Lithium Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR (2024 - 2029) | 12.93 % |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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MEA Lithium Market Analysis
The MEA Lithium Market size is estimated at 17.70 LCE kilotons in 2024, and is expected to reach 32.51 LCE kilotons by 2029, growing at a CAGR of 12.93% during the forecast period (2024-2029).
The COVID-19 pandemic harmed the lithium sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business is recovering since 2021 and is expected to rise significantly in the coming years.
- Major factors driving the market studied are accelerating demand for electric vehicles and growing usage and demand for portable consumer electronics.
- On the flip side, high dependency on imports for consumption is a major factor hindering market growth.
- The recyclability of lithium-ion batteries is expected to offer lucrative opportunities for market growth.
- By country, Saudi Arabia is dominating the market and is expected to continue to lead during the forecast period.
MEA Lithium Industry Segmentation
Lithium is a soft, silvery-white alkali metal, considered the lightest available. The main sources of lithium are underground lithium-containing brine reservoirs and lithium-containing rocks, such as spodumene. The lithium market is segmented by type, application, end-user industry, and geography. The market is segmented by type into metal, compound, and alloy. The market is segmented by application into battery, grease, air treatment, pharmaceuticals, glass/ceramic, polymer, and other applications. The end-user industry segments the market into industrial, consumer electronics, energy storage, medical, automotive, and other industries. The report also covers the size and forecasts for lithium in 4 countries across the major Middle East and Africa. The market sizing and forecasts for each segment are based on volume (lithium carbonate equivalent (LCE) kilotons).
Type | |||||
Metal | |||||
| |||||
Alloy |
Application | |
Battery | |
Grease | |
Air Treatment | |
Pharmaceuticals | |
Glass/Ceramic (including Frits) | |
Polymer | |
Other Applications |
End-user Industry | |
Industrial | |
Consumer Electronics | |
Energy storage | |
Medical | |
Automotive | |
Other End-user Industries |
Country | |
Saudi Arabia | |
United Arab Emirates | |
Qatar | |
South Africa | |
Rest of Middle-East and Africa |
MEA Lithium Market Size Summary
The Middle East and Africa lithium market is poised for significant growth, driven by the increasing demand for electric vehicles and the rising use of portable consumer electronics. The market, which experienced setbacks due to the COVID-19 pandemic, is on a recovery trajectory and is expected to expand substantially over the forecast period. The battery application segment, particularly lithium-ion and lithium-polymer batteries, dominates the market due to their lightweight, high energy density, and rechargeability, making them ideal for various applications such as telecommunication devices and consumer electronics. Despite challenges like high dependency on imports, the recyclability of lithium-ion batteries presents lucrative opportunities for market expansion.
Saudi Arabia is a key player in the region, leveraging its position as a major oil producer to diversify its economy and establish itself as an automotive hub. The country's investments in electric vehicles and batteries, along with efforts to attract original equipment manufacturers, are expected to boost the local automotive industry and, consequently, the lithium market. Additionally, the growing adoption of electronic goods and wireless connectivity in Saudi Arabia is anticipated to further drive market demand. The market is consolidated, with major players like Albemarle Corporation, SQM S.A., Orocobre Limited Pty Ltd, Lepidico Ltd, and FMC Corporation holding significant shares, and ongoing investments in production capacity are set to support the market's growth trajectory.
MEA Lithium Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Accelerating Demand for Electric Vehicles
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1.1.2 Growing Usage and Demand from the Portable Consumer Electronics
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 High Dependency on Imports for Consumption
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Type
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2.1.1 Metal
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2.1.2 Compound
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2.1.2.1 Carbonate
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2.1.2.2 Chloride
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2.1.2.3 Hydroxide
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2.1.3 Alloy
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2.2 Application
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2.2.1 Battery
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2.2.2 Grease
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2.2.3 Air Treatment
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2.2.4 Pharmaceuticals
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2.2.5 Glass/Ceramic (including Frits)
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2.2.6 Polymer
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2.2.7 Other Applications
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2.3 End-user Industry
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2.3.1 Industrial
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2.3.2 Consumer Electronics
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2.3.3 Energy storage
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2.3.4 Medical
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2.3.5 Automotive
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2.3.6 Other End-user Industries
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2.4 Country
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2.4.1 Saudi Arabia
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2.4.2 United Arab Emirates
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2.4.3 Qatar
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2.4.4 South Africa
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2.4.5 Rest of Middle-East and Africa
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MEA Lithium Market Size FAQs
How big is the MEA Lithium Market?
The MEA Lithium Market size is expected to reach 17.70 LCE kilotons in 2024 and grow at a CAGR of 12.93% to reach 32.51 LCE kilotons by 2029.
What is the current MEA Lithium Market size?
In 2024, the MEA Lithium Market size is expected to reach 17.70 LCE kilotons.