Lithium Compound Market Report, Share, Size, Trends, Growth and Forecast 2019 - 2024

Global Lithium Compound Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Global Lithium Compound 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 201 9-2024 ”, the global lithium compound market reached a volume of 278,735 Tons in 2018. The report further anticipates the market to reach a volume of 420,658 Tons by 2024, expanding at a CAGR of 7.1% over the forecast period.

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.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

•

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

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.

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Report Description • •

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.

Lithium Compound Market Segmentation: Market Segmentation by Type • • • • • •

Lithium Carbonate Lithium Hydroxide Lithium Concentrate Lithium Metal Lithium Chloride Butyllithium

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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 Metallurgy Polymer Air Treatment

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.

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Report Description Market Segmentation by Region • • • • •

Asia Pacific North America Europe Middle East and Africa Latin America

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

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:

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Report Description • • • • •

SQM FMC Corporation Orocobre Limited Lithium Americas Corp Neometals Ltd

Browse Related Report Oleochemicals Market Report: https://www.imarcgroup.com/oleochemicals-market Fumaric Acid Market Report: https://www.imarcgroup.com/fumaric-acid-market

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