$10.9bn
$X.Xbn
5,137
184
$XXX.Xm
Spodumene concentrate (lithium ore) has become by far the dominant product in the Lithium and Other Non-Metallic Mineral Mining industry over past few years. Spodumene concentrate is still mainly exported to China for further processing, but major mining firms have started to use it domestically to refine lithium hydroxide. Despite spodumene concentrate output strongly expanding, growth in this industry is mainly price-driven. Given the importance of lithium for battery manufacturing, many downstream buyers stockpiled lithium, prompting a severe spike in world prices. This surge in prices led to revenue surges of 340.1% and 231.0% revenue in 2021-22 and 2022-23, respectively. Profit margins also soared in these years. Prices started to normalise during 2023, and are expected to plummet by 32.1% in 2023-24. Overall, revenue is anticipated to widen by 20.3% over the five years through 2023-24, to $10.9 billion.
Industry revenue has grown at a CAGR of 20.3 % over the past five years, to reach an estimated $10.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Windfield Holdings | 7,923.7 | |
Pilbara Minerals | 2,726.7 | |
Mineral Resources | 1,829.7 |
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Industry revenue is measured across several distinct product and services lines, including Lithium minerals and Other minerals. Lithium minerals is the largest segment of the Lithium and Other Non-Metallic Mineral Mining in Australia.
Strong pricing and climbing production volumes have led to booming lithium sales
Industry firms harvest lithium ore and salt, and mine or quarry non-metallic and related minerals such as diamonds, phosphate rock, silica, gypsum, magnesite, talc and lithium minerals. Industry firms also carry out some basic processing functions.
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ANZSIC 0990 - Lithium and Other Non-Metallic Mineral Mining in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Soaring lithium prices have driven revenue upwards. A strong Chinese electric vehicle market and battery manufacturers stockpiling lithium have led to a jump in lithium price...
Learn about an industry's products and services, markets and trends in international trade.
Lithium has become the dominant product sold by industry mining firms. The closure of the Argyle diamond mine, and surging prices and production of lithium have meant that ot...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Western Australia, as the major source of lithium, dominates industry enterprise numbers and revenue. The only lithium project producing lithium outside of Western Australia ...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Alternative battery technologies represent the biggest potential threat to demand for lithium. A viable alternative battery technology that doesn't use lithium has the potent...
Learn about the performance of the top companies in the industry.
Lithium companies have seen revenue surge amid rising production and prices. Mining firms have scaled up production to meet global demand. The recent strength of Chinese elec...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Mining firms face significant long-term risks from the development of alternatives to lithium batteries. The potential for a commercially viable alternative that uses lower c...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit margins have surged due to a spike in lithium prices. A strong Chinese electric vehicle market and manufacturer stockpiling behaviour caused a spike in world lithium p...
Including values and annual change:
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Key data sources in Australia include:
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The market size of the Lithium and Other Non-Metallic Mineral Mining industry in Australia is $10.9bn in 2024.
There are 184 businesses in the Lithium and Other Non-Metallic Mineral Mining industry in Australia, which has declined at a CAGR of 1.1 % between 2019 and 2024.
The market size of the Lithium and Other Non-Metallic Mineral Mining industry in Australia has been growing at a CAGR of 20.3 % between 2019 and 2024.
Over the next five years, the Lithium and Other Non-Metallic Mineral Mining industry in Australia is expected to grow.
The biggest companies operating in the Lithium and Other Non-Metallic Mineral Mining market in Australia are Windfield Holdings, Pilbara Minerals and Mineral Resources
Lithium ore and Precious and semi-precious stones are part of the Lithium and Other Non-Metallic Mineral Mining industry.
The company holding the most market share in Australia is Windfield Holdings.
The level of competition is moderate and steady in the Lithium and Other Non-Metallic Mineral Mining industry in Australia.