Posted 2/23/2024, 12:30:00 AM
Brine Minerals Market to Reach $1.7 Billion by 2029, Driven by Demand for Lithium and Magnesium
- Global Brine Concentration Minerals Market projected to reach $1.7 billion by 2029, growing at a CAGR of 8.1%
- Market growth driven by demand from automotive, construction, and other industries for minerals like lithium and magnesium
- Asia Pacific expected to be fastest growing regional market due to factors like EV adoption and securing access to lithium resources
- Solar evaporation is largest technology segment due to cost-effectiveness and sustainability
- Magnesium derivatives make up the largest type segment, used widely across industries from automotive to agriculture