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Argentina Lithium Market Size, Share, Analysis, Forecast: By Product: Lithium Metal, Lithium Carbonates, Lithium Hydroxide, Others; By Application: Automotive, Consumer Electronics, Energy Storage, Glass and Ceramics, Medical, Others; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Argentina Lithium Market Outlook
The Argentina lithium market size is projected to grow at a CAGR of 10.90% between 2024 and 2032.
Key Takeaways
- According to data released by the Mining Secretariat, in 2022, Argentine lithium exports experienced an impressive surge, growing by 235% compared to the previous year. These exports amounted to nearly USD 700 million.
- As per industry reports, Argentina currently has 38 lithium projects in various stages of development, which will supply different type of lithium for battery production and manufacturing of electric vehicles.
- Argentina, along with Bolivia and Chile, forms part of the “lithium triangle,” where approximately 75% of the world’s lithium supply is found beneath the salt flats shared by these three countries.
- As of September 2023, Argentina has two active lithium mines, with Livent operating the Fénix mine in the province of Salta and FMC Lithium operating the Hombre Muerto mine in the province of Catamarca.
The global demand for lithium is projected to reach over 3 million metric tons by 2030, according to the World Economic Forum. This demand is driven by the rapid growth of EV sales, which are set to reach 30 million by 2030, according to S&P Global Commodity Insights. This global transition towards cleaner energy technologies is a major driver contributing to the Argentina lithium market development. Argentina is a key player in this global market due to its second-largest lithium reserves, estimated to be in the region of 20 million tons, according to the U.S. Geological Survey.
The Argentine government's emphasis on investment-friendly policies and the recent major deal between Argentina Lithium & Energy Corp. and Stellantis N.V. are expected to further boost Argentina's position as a major lithium chemical producer in the coming years. The deal involves an offtake agreement that allows Stellantis to purchase up to 15,000 tonnes of future lithium production annually for seven years from Argentina Lithium’s Argentine subsidiary.
The key trends aiding the Argentina lithium market growth include the increasing demand for lithium-ion batteries in various applications and the development of Direct Lithium Extraction (DLE) technology. DLE eliminates many time-consuming steps, such as extensive physical extraction, chemical processing, and long periods of solar evaporation. This rapid processing enables manufacturers, especially in the battery and electric vehicle sectors, to respond more quickly to market demands.
Lithium metal is a key component in batteries for electric vehicles and energy storage systems and the country's lithium metal sector has seen significant growth due to efforts by companies like Allkem Ltd. and Livent Corp. Meanwhile, lithium carbonates are another essential segment in the market and the country’s current lithium carbonate production capacity stands at 37,500 tonnes, which is expected to play a significant role in the global supply chain for battery-grade lithium.
Market Segmentation
Argentina Lithium Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
- Lithium Metal
- Lithium Carbonates
- Lithium Hydroxide
- Others
Market Breakup by Application
- Automotive
- Consumer Electronics
- Energy Storage
- Glass and Ceramics
- Medical
- Others
Competitive Landscape
Market players are actively involved in lithium exploration, extraction, and production, aiming to leverage Argentina's position as one of the major players in the lithium market.
- Ganfeng Lithium Group Co., Ltd
- Arcadium Litihium
- Grosso Group (Argentina Lithium & Energy Corp.)
- Lithium Argentina Corp.
- Lithium Chile Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Application |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Lithium Market Overview
8.1 Key Industry Highlights
8.2 Latin America Lithium Historical Market (2018-2023)
8.3 Latin America Lithium Market Forecast (2024-2032)
9 Argentina Lithium Market Overview
9.1 Key Industry Highlights
9.2 Argentina Lithium Historical Market (2018-2023)
9.3 Argentina Lithium Market Forecast (2024-2032)
10 Argentina Lithium Market by Product
10.1 Lithium Metal
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Lithium Carbonates
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Lithium Hydroxide
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Argentina Lithium Market by Application
11.1 Automotive
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Consumer Electronics
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Energy Storage
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Glass and Ceramics
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Medical
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyers Powers
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Value Chain Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Ganfeng Lithium Group Co., Ltd.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Arcadium Litihium
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Grosso Group (Argentina Lithium & Energy Corp.)
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Lithium Argentina Corp.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Lithium Chile Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Lithium Market: Key Industry Highlights, 2018 and 2032
2. Argentina Lithium Market: Key Industry Highlights, 2018 and 2032
3. Argentina Lithium Historical Market: Breakup by Product (USD Million), 2018-2023
4. Argentina Lithium Market Forecast: Breakup by Product (USD Million), 2024-2032
5. Argentina Lithium Historical Market: Breakup by Application (USD Million), 2018-2023
6. Argentina Lithium Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Argentina Lithium Market Structure
Key Questions Answered in the Report
The Argentina lithium market value is expected to grow at a CAGR of 10.90% between 2024 and 2032.
The market is being driven due to increasing demand for lithium, surge in electric vehicle (EV) demand and the global transition towards cleaner energy technologies.
Key trends aiding the market expansion include increasing demand for lithium-ion batteries, development of Direct Lithium Extraction (DLE) technology, and rising production and sales of electric vehicles.
Different applications of lithium lie in automotive, consumer electronics, energy storage, glass and ceramics, and medical sectors, among others.
Based on product, the market segmentations include lithium metal, lithium carbonates, lithium hydroxide, among others.
Key players in the market are Ganfeng Lithium Group Co., Ltd, Arcadium Lithium, Grosso Group (Argentina Lithium & Energy Corp.), Lithium Argentina Corp., and Lithium Chile Inc., among others.
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