Mexico - North America Lithium Market Size & Outlook
- Metals & Mining
- Metals, Mining & Minerals
- Lithium Market Outlook
- Metals, Mining & Minerals
Mexico - North America Lithium Market, 2018-2030 (US$M)
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Mexico lithium market highlights
- The Mexico lithium market generated a revenue of USD 315.8 million in 2023 and is expected to reach USD 518.0 million by 2030.
- The Mexico market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, carbonates was the largest revenue generating product in 2023.
- Hydroxides is the most lucrative product segment registering the fastest growth during the forecast period.
Lithium market data book summary
| Market revenue in 2023 | USD 315.8 million |
| Market revenue in 2030 | USD 518.0 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Carbonates |
| Fastest growing segment | Hydroxides |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbonates, Hydroxides, Other Products |
| Key market players worldwide | Albemarle Corp, Sociedad Quimica Y Minera De Chile SA ADR, Livento Group Inc, Lithium Americas Corp, Pilbara Minerals Ltd, Beard Co, Mineral Resources Ltd |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.0% of the lithium market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. lithium market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 6,351.1 million by 2030.
Mexico's GDP for 2023 is estimated at 1.8%, the highest in North America. On a y-o-y basis, the country’s GDP witnessed 3.6% growth in Q2 2023. Increasing private investment in mining, EVs, and consumer goods industries is anticipated to propel the demand for lithium in the country over the forecast period.
In April 2022, the government implemented an amendment to its Mining Law. The amendment declares lithium to be strategic and property of the nation. The exploration, mining exploitation, refining, and use of lithium are reserved in favor of the people of Mexico.
The company will be responsible for managing the exploration, mining exploitation, and refining of lithium across the country. It will also be responsible for controlling the economic value chain of lithium.
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Lithium Market Scope
Lithium Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Albemarle Corp | View profile | 9,000 | 4250 Congress Street, Suite 900, Charlotte, NC, United States, 28209 | www.albemarle.com |
| Sociedad Quimica Y Minera De Chile SA ADR | View profile | 7,474 | El Trovador 4285, 6th Floor, Las Condes, Santiago, Chile | www.sqm.com |
| Livento Group Inc | View profile | 11 | 17 State Street, Suite 4000, New York, NY, United States, 10004 | www.liventogroup.com |
| Lithium Americas Corp | View profile | - | 900 West Hastings Street, Suite 300, Vancouver, BC, Canada, V6C 1E5 | www.lithiumamericas.com |
| Pilbara Minerals Ltd | View profile | 768 | 146 Colin Street, Level 2, West Perth, Perth, WA, Australia, 6005 | www.pilbaraminerals.com.au |
| Beard Co | View profile | 16 | 301 N.W. 63rd Street, Suite 400, Harvey Parkway, Oklahoma City, OK, United States, 73116 | www.beardco.com |
| Mineral Resources Ltd | View profile | 5,000 | 20 Walters Drive, Osborne Park, Applecross, Western Australia, WA, Australia, 6017 | www.mineralresources.com.au |
Mexico - North America Lithium Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Lithium Market Outlook will help companies and investors design strategic landscapes.
Carbonates was the largest segment with a revenue share of 53.99% in 2023.
Horizon Databook has segmented the Mexico - North America lithium market based on carbonates, hydroxides, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico's GDP for 2023 is estimated at 1.8%, the highest in North America. On a y-o-y basis, the country’s GDP witnessed 3.6% growth in Q2 2023. Increasing private investment in mining, EVs, and consumer goods industries is anticipated to propel the demand for lithium in the country over the forecast period.
In April 2022, the government implemented an amendment to its Mining Law. The amendment declares lithium to be strategic and property of the nation. The exploration, mining exploitation, refining, and use of lithium are reserved in favor of the people of Mexico.
The company will be responsible for managing the exploration, mining exploitation, and refining of lithium across the country. It will also be responsible for controlling the economic value chain of lithium.
- Mexico - North America Lithium Market Product Outlook (Revenue, USD Million , 2018-2030)
- Carbonates
- Hydroxides
- Other Products
- Mexico - North America Lithium Market Application Outlook (Revenue, USD Million , 2018-2030)
- Automotive
- Consumer Electronics
- Grid Storage
- Glass & Electronics
- Other Applications
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico - North America Lithium Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - North America Lithium Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Mexico - North America Lithium Market, 2018-2030 (US$M)
Mexico lithium market statistics, by product, 2018-2030 (US$M)
