Lithium Hydroxide Market Analysis Report, Share, Growth, Trend, and Forecast, 2024: Global Market Insights Inc. The research report “Lithium Hydroxide Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024�, Lithium Hydroxide Market size has seen an exponential growth due to increasing demand of rechargeable batteries used in various application. Rising industrializations has increased the demand for power tools which requires lithium hydroxide NCA cathode, thus propelling the industry size. Moreover, increased usage of electric vehicles is fueling consumption of lithium hydroxide. LiOH is extensively used in battery manufacturing and as an industrial lubricant. It is used as an energy storage and as a heat transfer medium in batteries. Lithium hydroxide market is also expected to rise with increasing use of LiOH in producing lubricants or greases which include lithium stearate. Upsurge in demand for grease in CV joints, household products and automotive applications will have a positive impact on the product demand. Purchase This Report by calling Global Market Insights, Inc. at 1-888-689-0688 (Toll Free) or 1302-846-7766.
LiOH is also used for removing impurities in metallurgical industries. Additionally, it is widely used in both non-rechargeable and rechargeable batteries which will boost lithium hydroxide market. Further applications include pharmaceuticals, aluminum production, air-conditioning units, polymers and cement. Lithium hydroxide is a white crystalline compound. It is an inorganic amalgam having formula LiOH. The product is slightly soluble in ethanol and easily soluble in water. LiOH is generally available in anhydrous form having powerful base. It is widely used in absorbing carbon di oxide gas especially used in spacesuits. Increasing consumption of LiOH in producing Portland cement and ceramics will impel the market size.
The product is used in various industries including, grid & power storage, battery electric vehicle, hybrids, portable electronic devices, chemical synthesis, lubricants / greases and glass & ceramics. Amongst, batteries hold a major market share in application segment with surging use of cell phones and laptops. Glass & ceramics is the fastest growing application sector with huge investments done in renovation and new infrastructure projects. Based on the end user industry, lithium hydroxide market is divided into consumer devices, energy storage, transportation and consumer electronics. Among these, transportation industry is likely to drive the market with new innovations done in electric cars and bikes. Also, consumer electronic & devices is anticipated to drive the product market over the forecasted years with rising applications in personal care, power tools, wearable devices, toys and cordless phones.demand. Also, upsurge in chemical activities in various countries in the region will support the market. Europe is another developed market for lithium hydroxide market. Rise in consumption of lubricants in manufacturing sector and glass ceramics owing to the presence of large 1|Page