Lithium Compound Market to reach 420,658 Tons by 2023 and CAGR 7.1%

Global Lithium Compound Market Report, Industry Trends, Growth, Share, Size and Forecast Till 2023

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Report Description and Highlights

Report Description

Lithium Compound Market Report By Type (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Lithium Chloride, Butyllithium and Other Lithium Compound), End-Use (Batteries, Glass & Glass Ceramics, Automotive Parts, Greases, Metallurgy, Polymer, Air Treatment and Others), Region The global lithium compound market has witnessed a positive growth over the past several years. This can be attributed to the rising usage of lithium-ion batteries in portable electronic devices coupled with increasing demand for glass and ceramics.

Market Overview: Lithium is a soft, silvery-white alkali metal which occurs in compounds such as petalite and spodumene. It is found in small amounts in nearly all igneous rocks and in the waters of a number of mineral springs. Lithium compounds are used in a wide array of applications ranging from the production of plastics and synthetic rubber to textile dyes. According to a new research report by IMARC Group, titled “Lithium Compound Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global lithium compound market reached a volume of 260,500 Tons in 2017. The report further anticipates the market to reach a volume of 393,138 Tons by 2023, expanding at a CAGR of 7.1% over the forecast period.

Report Description and Highlights

Report Description

Global Lithium Compound Market Drivers/Constraints: •

• • •

Compounds of lithium are used for making enamels, ceramics, glass and lubricants for high temperature applications. As these products are further used in construction activities, the investments in infrastructure developments, renovation of buildings and new housing projects are projected to fuel the growth of global lithium compound market.

Lithium compounds are utilized in rechargeable batteries, cooling systems for nuclear reactors, armour plating, specialty glasses, bicycle frames, aircrafts, etc. The continuous growth in these segments has boosted the demand for lithium compound worldwide.

The growing usage of lithium-ion batteries in portable electronic devices including cameras, watches, smartphones, electric vehicles and pacemakers is further boosting the growth of the market.

The lithium compounds can harm the kidneys and affect a person’s mental health. This is the major reason hindering the growth of the market. Moreover, the high cost of lithium batteries also acts as a major deterrent.

Lithium Compound Market Segmentation: Market Segmentation by Type Request for a sample report: https://www.imarcgroup.com/lithium-compound-market/requestsample

Market Forecast

Sample Figure: Global: Lithium Compound Market Forecast: Sales Volume (in ‘000 Metric Tons), 2018-2023

184.3

191.7

199.3

207.3

2018

2019

2020

2021

215.6

224.2

2022

2023

Market Segmentation

Report Description o o o o o o o

Lithium Carbonate Lithium Hydroxide Lithium Concentrate Lithium Metal Lithium Chloride Butyllithium Other Lithium Compound

On the basis of type, lithium carbonate is the most popular type of lithium compound since there has been a huge demand for lithium carbonate as it is also used in the manufacturing of ceramics and glasses, battery cathodes and solid-state carbon dioxide detectors. It is followed by lithium hydroxide, lithium concentrate, lithium metal, lithium chloride, butyllithium and other lithium compounds.

Market Segmentation by End-Use • • • •

Batteries Glass and Glass Ceramics Automotive Parts Greases

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Market Segmentation

Report Description • • • •

Metallurgy Polymer Air Treatment Others

Based on end-use, the report finds that batteries represent the largest end-use segment of lithium compounds as lithium batteries can store considerable amount of power. Batteries are followed by glass and glass ceramics, automotive parts, greases, metallurgy, polymer, air treatment and others.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

On a geographical front, Asia Pacific dominates the lithium compound market, accounting for the majority of the global share. Other major regions include North America, Europe, Middle East and Africa, and Latin America.

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description • •

Sports and Fitness Applications Industrial and Commercial Applications

On the basis of applications, consumer applications account for the largest market share. Other application segments include healthcare, sports and fitness, and industrial and commercial.

Competitive Landscape: The global lithium compound market is characterised with the presence of a number of both local and international players who compete in terms of prices and quality. Some of the leading players operating in the market are: • • • • •

SQM FMC Corporation Orocobre Limited Lithium Americas Corp Neometals Ltd

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Report Description and Highlights

Report Description

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