Lithium Market Procurement Research – Market Trends and Spend Analysis by SpendEdge

LONDON–(BUSINESS WIRE)–#lithium–Global procurement intelligence advisory firm, SpendEdge,
has announced the release of their ‘Lithium
Market Procurement Research Report.’ The insights and data in
this report provide a strategic analysis of the supply markets, factors
influencing purchasing decisions, procurement best practices, pricing
models, supplier landscape, and an analysis of the supplier capability
matrix for the metals
and mining industry. This report breaks down the data and
analysis behind the procurement of lithium and acts as an all-inclusive
guide for making smart purchasing decisions.

“The rise in demand for lithium can be attributed to the substantial
growth of end-use sectors such as automotive, construction, and power
generation,” says SpendEdge procurement analyst Bhuvaneshwari
Udayakumar. “Also, the growth of the electric car industry in North
America has resulted in an increased demand for Li-ion batteries, this
is expected to grow over the forecast period leading to the high demand
for lithium in the region,” added Bhuvaneshwari.

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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global Lithium
Market:

• The growth of mega factories for the production of Li-ion batteries.
• Increasing investments in setting up new lithium production facilities.
• The rise in adoption of smart grids for distribution of electricity.

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The growth of mega factories for the production of Li-ion batteries:

Li-ion battery manufacturers across the globe have started setting up
mega factories to meet the ever-increasing demand for batteries; this
helps in reducing the price of Li-ion batteries through economies of
scale, reduction of wastes, and optimization of production processes.
Also, setting up these plants or mega factories also help the buyers in
this market space reduce their operational costs.

Increasing investments in setting up new lithium production
facilities:

There is an increase in the investments by the government and private
sectors for setting up new mining and brine extraction facilities owing
to the high demand for lithium from the end-user segments. Such
investments are being made in countries such as China, Chile, and
Argentina which helps to solve the current issue of supply shortages.
Moreover, the high supply volumes will lead to a reduction in prices of
lithium.

The rise in adoption of smart grids for distribution of electricity:

The demand for energy storage devices has led to the adoption of smart
grids especially in regions such as Europe and North America. This, in
turn, has led to the growth of this market as these grids use energy
storage devices to store the electricity temporarily. Also, the high
adoption rate of smart grids will lead to an increase in demand for
Li-ion batteries and increase revenue for buyers of lithium.

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for Fortune 500 firms and other leading companies across numerous
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Contacts

SpendEdge
Shilpa Balakrishnan
US: +1 (844) 746-0600
[email protected]