1. HOME
2. Research Insight
3. Magrathea (US) and Olokun Minerals (US) are Leading Brine Concentration Minerals Market

The brine concentration minerals market is projected to reach USD 1.7 billion by 2029, at a CAGR of 8.1% from USD 1.1 billion in 2024. The market growth is driven by growing demand for lithium-ion batteries and growing emphasis on sustainbale practices.

The key players in this market are Magrathea (US), Olokun Minerals (US), Albemarle Corporation (US), Ganfeng Lithium Group Co., Ltd. (China), Arcadium Lithium (US), ICL Industrial Products (Israel), SQM S.A. (Chile), Solvay (Belgium), SEALEAU (Netherlands), and Konoshima Chemical Co., Ltd. (Japan) etc. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions and acquisitions.

To know about the assumptions considered for the study download the pdf brochure

Magrathea

Founded in 2022, Magrathea, headquartered in the San Francisco Bay Area, US is a pioneering force in the magnesium industry, driven by a mission to revolutionize structural metal production's environmental impact. Specializing in magnesium extraction from seawater, their proprietary electrolysis technology not only yields high-purity magnesium but also captures atmospheric carbon dioxide, ensuring a carbon-negative footprint. While initially focusing on lightweight magnesium applications for automotive and aerospace industries, Magrathea's global potential lies in its unique approach, circumventing traditional land-based mining and enabling operations anywhere with access to abundant seawater resources. Beyond magnesium production, the company is committed to a circular economy, exploring efficient recycling methods, and offering consulting services in decarbonization and hydrometallurgy for a broader sustainable impact on metal industries. Magrathea's product offerings span high-purity magnesium metal for fuel efficiency and emission reduction, customized magnesium alloys with enhanced properties, and technical expertise through consulting services. Their technological prowess encompasses advanced electrolysis, making seawater magnesium production commercially viable and environmentally friendly, and deep hydrometallurgical know-how applicable not only to magnesium but potentially to other metals. Magrathea Metals Inc. stands as a young, ambitious force with a global vision, offering innovative solutions to transform the metal industry into a more sustainable and environmentally conscious landscape. The company is currently operating in the North America region specifically in the US.

OLOKUN MINERALS

Founded in 2021 and headquartered in Los Angeles, Olokun Minerals is a dynamic company with a mission to address water security and clean energy challenges through sustainable ocean mineral extraction. Operating initially in Los Angeles, Olokun Minerals collaborates with local desalination plants, aiming to revolutionize resource utilization globally. The company's core business involves the development and deployment of proprietary technologies to extract valuable minerals such as lithium, magnesium, and calcium from desalination brine, reducing environmental impact and recovering crucial resources. Olokun Minerals’ product offerings include high-purity lithium for lithium-ion batteries, supporting the clean energy transition, and magnesium and calcium compounds for applications in sustainable construction materials, fertilizer development, and chemical manufacturing. Currently the company has a geographical presence in the US. Olokun Minerals specializes in delivering mineral-based products with a dual-purpose focus on public infrastructure maintenance and renewable energy generation and storage. Their innovative products not only contribute to the sustainability of essential industries but also play a crucial role in mitigating the environmental impact of drainage water on ocean life. By sustainably harvesting ocean minerals from desalination brine, Olokun Minerals establishes a renewable source of power while simultaneously providing responsibly sourced minerals for various sectors.

Albemarle Corporation

Albemarle Corporation is a dynamic player in the chemical industry, specializing in the development, manufacturing, and marketing of a diverse range of chemicals with applications spanning consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food safety, and custom chemistry services. With its headquarters based in Charlotte, North Carolina, US, the company has been a key player since its founding in 1993. Operating through distinct business segments, Albemarle Corporation strategically navigates the market with its Energy storage, Specialties and Ketjen divisions. The Energy storage segment is dedicated to the development and production of essential lithium compounds, such as lithium carbonate, lithium hydroxide, lithium chloride, as well as value-added lithium specialties and reagents. Meanwhile, the Specialties segment focuses on bromine and its derivatives, playing a crucial role in fire safety solutions and various specialty chemical applications. Albemarle Corporation’s global footprint extends across North America, South America,  Europe, the Middle East & Africa, and Asia Pacific, showcasing its commitment to serving diverse markets on a worldwide scale.

Ganfeng Lithium Group Co., Ltd.

Ganfeng Lithium Group Co., Ltd., founded in 2000, stands as a leading force in the lithium industry, headquartered in Xinyu, China. Specializing in the manufacture of essential lithium compounds, including lithium chloride, lithium fluoride, lithium carbonate, lithium hydroxide, and lithium magnesium alloy, Ganfeng Lithium Group Co., Ltd. boasts an extensive product portfolio that includes battery-grade variations, low sodium options, catalyst-grade materials, lithium rods, tablets, particles, as well as anhydrous and battery-grade lithium fluoride. The group's lithium resources span the globe, and it stands as the only entity in the lithium industry equipped with commercial-scale technologies for lithium extraction from brine, ore, and recycled materials. Ganfeng Lithium Group Co., Ltd. holds a prominent position in the global lithium market, ranking third in lithium compound capacity worldwide and securing the top spot in China. Additionally, it claims the title of the world's largest lithium metal producer. The company's lithium compounds, and lithium metals production capacity is among the highest globally.

Arcadium Lithium

Arcadium Lithium, a leading player in the lithium chemicals industry, specializes in the production of high-performance lithium compounds catering to diverse sectors. The company's establishment in December 2023 resulted from the merger of Allkem Limited and Livent Corporation, both founded in 1944 and 1949, respectively. This union not only solidified Arcadium Lithium’s presence but also enriched the company with a legacy that extends back several decades. The company manufactures various lithium derivatives like lithium hydroxide, lithium carbonate, lithium chloride, butyllithium and other specialties. Arcadium Lithium plays a pivotal role in the lithium-ion battery sector, providing essential components for electric vehicles, grid storage solutions, and consumer electronics. The company's commitment to innovation extends to the production of specialty lithium chemicals, serving applications in greases, glass, ceramics, and pharmaceuticals. Moreover, Arcadium is a key supplier of lithium metal, supporting applications in aluminium alloys and advanced materials.

Related Reports:

Brine Concentration Minerals Market by Type (Sodium derivatives, Magnesium derivatives, Calcium derivatives, Potassium dereivatives), Technology (Solar evaporation, NF-RO-MF, Osmotically assisted RO), Application, and Region - Global Forecast to 2029

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]