Japan Refining Lithium for EV Battery Market was valued at USD 0.8 Billion in 2022 and is projected to reach USD 1.6 Billion by 2030, growing at a CAGR of 9.3% from 2024 to 2030.
Japan is strategically positioning itself in the electric vehicle (EV) sector by advancing lithium refining capabilities to meet the burgeoning demands of the EV battery market. This initiative is pivotal for industries aiming to enhance EV performance and adoption rates.
Idemitsu Kosan, Japan's second-largest oil refiner, announced plans to construct a large-scale lithium sulphide plant at its Chiba refinery near Tokyo. This facility, estimated at 21.3 billion yen ($143 million), is slated for completion by June 2027 and will produce 1,000 metric tons of lithium sulphide annually—sufficient to supply solid electrolytes for 50,000 to 60,000 EVs. This development supports Toyota Motor's goal of launching EVs equipped with all-solid-state batteries by 2027-2028, promising longer driving ranges and shorter charging times compared to traditional lithium-ion batteries.
Honda Motor is also investing in this arena, aiming to double the driving range of its EVs by the late 2020s through the adoption of all-solid-state batteries. The company is investing 43 billion yen ($277 million) in a pilot production line in Tochigi, Japan, with support from government subsidies. Honda's research unit anticipates that these batteries will not only extend driving ranges but also reduce battery size by 50%, weight by 35%, and cost by 25% within the next five years. The company targets producing over 2 million EVs annually by 2030, with an objective of making 40% of its global sales from EVs and fuel cell vehicles by 2030, and 100% by 2040.
GS Yuasa, a Kyoto-based company specializing in lead acid and lithium-ion batteries, is another key player in Japan's battery industry. The company has been involved in joint ventures, such as Lithium Energy Japan with Mitsubishi Motors, to develop and manufacture lithium-ion batteries for automotive use. GS Yuasa's expertise in battery technology contributes to Japan's efforts in advancing EV battery solutions.
These strategic moves by Japanese companies underscore a national commitment to refining lithium and advancing battery technologies, aiming to meet the evolving requirements of the EV industry and promote sustainable transportation solutions.
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SQM
Albemarle
FMC
Orocobre
Tianqi Lithium
Ganfeng Lithium
Zhiyuan Lithium
Ruifu Lithium
Westmining
Yahua
Palith
Tibet Mineral Development
Rockwood
Simbol
Jiangxi Ganfeng Lithium
Zhonghe
GRM
HAOXIN LIYAN
General Lithium
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Japan Refining Lithium for EV Battery Market
Lithium Hydroxide
Lithium Carbonate
Hydrometallurgical Process
Pyrometallurgical Process
Hard Rock Mining
Brine Extraction
Automotive
Consumer Electronics
Energy Storage Systems (ESS)
Industrial Grade
Battery Grade
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan Refining Lithium for EV Battery Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Japan Refining Lithium for EV Battery Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Refining Lithium for EV Battery Market, By Type
6. Japan Refining Lithium for EV Battery Market, By Application
7. Japan Refining Lithium for EV Battery Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan Refining Lithium for EV Battery Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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