Category

Countries

Albemarle Taking Every Measure to Encapsulate Global Lithium Market Share

Albemarle Taking Every Measure to Encapsulate Global Lithium Market Share

Albemarle Taking Every Measure to Encapsulate Global Lithium Market Share

  • 27-Oct-2022 4:57 PM
  • Journalist: Henry Locke

Houston (TX): Albemarle Corporation (NYSE: ALB) is a prominent global specialty chemical company based in the U.S., with leading positions in Lithium, Bromine, and Catalysts. In the past few years, the Lithium market has observed an unprecedented boom after global leaders decided to push a narrative regarding the transition toward a greener economy in COP 26 Glasgow. Since then, Albemarle Corp. profits through net sales of essential Lithium derivatives such as Lithium Carbonate and Lithium Hydroxide have observed a steep increment, besides registering net sales of USD 1.48 Billion, an increase of 91%, growth in EBIDTA 214% on a Y-o-Y basis. At the same time, it is also anticipated that the cumulative net sales will range from USD 7.1 – USD 7.5 Billion, and the EBIDTA will range from  USD 3.2-USD 3.5 Billion by the year-end of 2022.

Currently, China dominates the new energy market amidst its enormous Lithium refining facilities and prior moves to develop mines in domestic and overseas markets to ensure the essential raw material supplies. Therefore, to bid to wean the U.S. country off supplies from China, the Biden administration awarded a USD 2.8 Billion grant to boost U.S production of E.V. batteries and minerals. Albemarle has been awarded a nearly USD 150 Million grant by the Department of Energy (DOE). That grant funding is intended to support the construction of a commercial-scale Lithium Concentrator facility at Albemarle’s King Mountain, North Carolina. In addition, the Lithium giant is also funding the development of more efficient Lithium based E.V. batteries using new advanced and extensive research.

In an effort to capture market share, on the evening of 25th October 2022, the Albemarle Corporation announced its subsidiary. Albemarle Lithium U.K. ltd. has completed the Guangxi Tianyuan New Energy Materials Co., Ltd acquisition by acquiring all the outstanding equity from Tianyuan’s shareholders in USD 200 Million. The investment has added the annual conversion of 25,000 MT LCE to manufacture Lithium Carbonate and Lithium Hydroxide. Kent Masters, Albemarle’s CEO, stated that “the addition of Tianyuan’s operations and Lithium assets strengthens Albemarle’s ability to meet the increasing global demand for battery-grade Lithium reliably.”   

24X7

Track Real Time Prices

Related News

Western Authorities Seek to Curtail Electric Vehicles Subsidy Programs in 2023
  • 03-Feb-2023 3:21 PM
  • Journalist: Patrick Knight
Lithium Carbonate Prices in Asia Pacific Drop Amidst Lunar New Year Holidays
  • 30-Jan-2023 1:40 PM
  • Journalist: Gabreilla Figueroa
Chinese Lithium Carbonate Offers Dropping Amidst Low Demand
  • 17-Jan-2023 6:45 PM
  • Journalist: Yage Kwon
Aggressive Destocking Practices in China Accelerates the Drop in Lithium Carbonate Offers
  • 29-Dec-2022 5:19 PM
  • Journalist: Kim Chul Son