Lithium Foil Market Size To Reach $1.63 Billion By 2030

Lithium Foil Market Growth & Trends

The global lithium foil market size is expected to reach USD 1.63 billion by 2030, projected to grow at a CAGR of 11.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for electronic storage systems (ESS) has resulted in increasing R&D for the development and adoption of new-age lithium-ion batteries. These button batteries are predominantly used in solid and semi-solid state batteries.

Based on segmentation by product, the 2N segment held the largest revenue share in 2023, owing to its growing demand for energy storage. In the electronics industry, lithium foils are used as high-energy primary and secondary battery anode material. The 2N type foil is widely used in portable electronic devices such as smartphones, laptops, and cameras.

Based on its higher purity levels, the product is also used in the aerospace & defense industries within thermal batteries. These are designed to provide a burst of power for short durations. Hence, these batteries find application in missiles, torpedoes, and other defense systems where high output power is required for a brief period. Copper-lithium foils are used as welding material in specialized aerospace applications.

The global market is highly concentrated. The growth in the electronics and aerospace & defense industries is anticipated to boost the market. For instance, in April 2023, the South Korean government announced cooperation with three of the world’s largest battery manufacturers (Samsung SDI, LG Energy Solution Ltd, SK On) in the country to invest Won 20 trillion (~USD 15.1 billion) to develop advanced battery technologies, including solid-state batteries by 2030. This is anticipated to be a key driver for lithium foils over the forecast period.

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Lithium Foil Market Report Highlights

• Based on country, the U.S. is anticipated to register a CAGR of 10.3% in terms of revenue over the forecast period. The growth can be attributed to the increasing R&D for the adoption of lithium foils in high-growth segments such as solid-state and semi-solid-state batteries.

• Based on product, the 2N segment held a revenue share of about 46% of the market in 2023. It is increasingly being adopted in ESS, as the preferred material as compared to graphite and silicon in lithium-ion batteries.

• Based on end-use, the electronics segment held the largest revenue share, about 77%, in 2023. Since lithium foils are a core material in lithium-ion batteries, their usage in smartphones and laptops is anticipated to significantly boost market demand in the forecast period.

• Competitive rivalry is high in the market. Players have been extensively investing in R&D to license technology that makes lithium-ion batteries safe and cost-effective for the market. For instance, in July 2023, Asahi Kasei Corporation, a Japanese company engaged in chemicals and material science, commenced licensing its technology for the design and production of lithium-ion capacitors that use specialized lithium foil.

Lithium Foil Market Segmentation

Grand View Research has segmented the global lithium foil market based on product, end-use, and region:

Lithium Foil Product Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• 2N

• 3N

• 4N

• 5N

Lithium Foil Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• Electronics

• Aerospace & Defense

• Others

Lithium Foil Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

List of Key Players in the Lithium Foil Market

• Albemarle Corporation

• AMERICAN ELEMENTS

• China Energy Lithium Co., Ltd

• Ganfeng Lithium Co., Ltd

• Honjo Metal Co., Ltd.

• Nanoshel LLC

• Thermo Fisher Scientific, Inc.