Albemarle Corporation Market Summary
Published date : 12 October 2023

Albemarle Corporation Market Summary

From the bustling avenues of Charlotte, North Carolina, Albemarle Corporation (ALB) stands tall as a beacon of industrial and chemical innovation, not just for America, but for the world.

With a staggering market value of $30 billion, the mining operator and specialty chemicals manufacturer is becoming a global giant, holding its crown as the world's largest miner of lithium carbonate and the world’s largest producer of lithium hydroxide.

To meet the world’s growing demand, ALB is planning to bring another domestic lithium mine online in North Carolina by 2027.

Today, ALB has functioning mines in Australia, Chile, and the USA.

The company is also building a US $1.3 billion processing facility in South Carolina, where it will process battery-grade lithium hydroxide; this translates to this plant supporting the manufacturing of 2.4 million electric vehicles each year, and will be able to process lithium from recycled batteries as well.

Related InfobytesSee All Infobytes