Market Size of MEA Lithium Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 17.70 LCE kilotons |
| Market Volume (2029) | 32.51 LCE kilotons |
| CAGR (2024 - 2029) | 12.93 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
