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Lithium Compounds Market Global Industry Overview and Competitive Landscape till 2025

 



(IT-NEWSWIRE.COM, January 06, 2022 ) The report "Lithium Compounds Market by Derivative (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Butyl Lithium, Lithium Chloride), End-Use (Li-Ion Batteries. Glass & Ceramics, Medical, Lubricants), and Region - Global Forecast to 2025" The lithium Compounds market is projected to grow from USD 5.3 billion in 2020 to USD 13.5 billion by 2025, at a CAGR of 20.6% from 2020 to 2025. The market growth is driven by the increasing demand for lithium compounds from end uses such as Li-ion batteries, glass & ceramics, polymers, and lubricants, among others.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=167191191

The lithium carbonate derivative segment accounted for the largest share of the lithium compounds market in 2019.

By derivative, the lithium carbonate segment accounted for the largest share of the lithium compounds market in 2019. Lithium carbonate is a lithium salt of carbonate that is used widely in the processing of metal oxides. It becomes an essential industrial chemical, due to its low melting fluxes with silica and other materials. Lithium carbonate is used in applications such as glass & ceramics, aluminum production, pharmaceuticals, and Li-ion batteries. The rising demand for lithium carbonate from the Li-ion battery industry is expected to drive its market during the forecast period.

The Li-ion batteries end use segment accounted for the largest share of the lithium compounds market in 2019.

By end use, the Li-ion batteries segment accounted for the largest share of the lithium compounds market in 2019. Li-ion batteries have become the gold standard for electric vehicles because they store more power per unit of weight compared to alternatives such as nickel-cadmium. They have also become an integral part of the consumer electronics segment since the commercialization of the battery by Sony Corporation in the early 1990s. These batteries are used in smartphones, laptops, power banks, and wearable devices due to their high energy density, long run cycle, and ease of recharging. With the world set to move towards the “ion-age” for power generation, considerable growth is expected from this segment in the coming years.

Don't miss out on business opportunities in Lithium Compounds Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=167191191

Browse in-depth TOC on "Lithium Compounds Market”
543 - Market Data Tables
60 - Figures
390 - Pages

Asia Pacific accounted for the largest share of the global lithium compounds market in 2019

Asia Pacific is the dominant market for lithium compounds, as this region includes countries with a high population, emerging economies, and increasing urbanization. Countries like China, India, Japan, and South Korea have a high population density and intense traffic congestion in their metro cities. This has aggravated the problem of air pollution in cities like Shanghai, Delhi, and Seoul and has necessitated comprehensive measures to curb emissions by promoting electric, hybrid, and plug-in vehicles. These vehicles utilize Li-ion batteries as their primary power source and as a result, have zero or near-zero CO2 emissions from their exhaust vents. Also, major Li-ion battery manufacturing companies such as LG Chem, Panasonic Corporation, Toshiba Corporation, Amperex Technology, and Automotive Energy Supply Corporation are located in the Asia Pacific region.

Sociedad Quimica y Minera de Chile S.A. (SQM) (Chile), Livent Corporation (US), Albemarle Corporation (US), Tianqi Lithium Industries Inc. (China), and Ganfeng Lithium Company Limited (China) are key players in this market. Other noteworthy public and private players in this market are China Lithium Products Technology Company Limited (China), Sichuan Ni&Co Guorun New Materials Company Limited (China), Shanghai China Lithium Industrial Company Limited (China), Nemaska Lithium Inc. (Canada), Bacanora Lithium (United Kingdom), Lithium Americas (Canada), Galaxy Resources Limited (Australia), Orocobre Limited (Australia), Shandong Ruifu Lithium Industry Company Limited (China), Neo Lithium Corporation (Canada), and Millennial Lithium Corporation (Canada).

Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=167191191

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra

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Source: EmailWire.Com



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