Zimbabwe is the only African country that's a top 10 producer of lithium, but companies are exploring other parts of the continent for the battery metal. Here's a look an overview of key players.
China plays a key role in the lithium-ion battery supply chain, dominating the midstream when it comes to lithium. Despite this, in terms of production China is behind Australia, known for its hard-rock assets, and Chile, known for its brines.
Africa has considerable lithium resources, boasting 5% of the world’s total reserves. Lithium is an essential element for the energy transition and is used in a variety of applications including batteries for electric vehicles and energy storage systems.
The African battery market is moderately fragmented. Some of the key players in this market (not in particular order) include Toshiba Corp., Murata Manufacturing Co. Ltd, Exide Industries Ltd, Panasonic Corporation, and Duracell Inc. *Disclaimer: Major Players sorted in no particular order Need More Details on Market Players and Competitors?
The Africa Battery Market is expected to reach USD 4.66 billion in 2024 and grow at a CAGR of 6.55% to reach USD 6.41 billion by 2029. Duracell Inc, Panasonic Corporation, Toshiba Corporation, Exide Industries ltd and Murata manufacturing Co ltd are the major companies operating in this market.
(Updated 2024) Benchmark Intelligence is projecting that in 2024, the African continent will account for 10 percent of global lithium production. Many countries in Africa are looking to develop lithium resources, and some are even producing the metal.
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