The Global Lithium Compounds Market value is expected to grow from USD 4.4 BN in 2019 to USD 13.5 BN by 2026 at a CAGR of 17.4% during 2020-2026 as per the market report by Value Market Research. The wide gamut of applications is the major steering force for the growth of the lithium compounds market. The growing demand for energy storage devices, glass, ceramics, polymers, and lubricants will be the various contributors to this market's growth. Rapid urbanization and continuously expanding end-user industries will further propel the market growth. The rising cases of depression are a leading cause for disability among the global population. Rising investments in nuclear power, metallurgical industry, and automotive will add an upswing to this market's growth. The high costs involved in mining lithium ores and the environmental impacts of these compounds will be the main barriers hindering the market growth.
The compounds of Lithium, the least reactive alkali metal, have a plethora of applications. There are many different compounds of Lithium being used in industrial applications like lithium carbonate, lithium oxide, lithium bromide, lithium hydride, etc. The most popular use of this element is in the manufacture of Li-ion batteries. These compounds' various other applications include pottery, ceramics, grease lubricants, rocket propellants, reagents, welding, optics, thermonuclear weapons, pyrotechnics, etc. The salts of lithium are used as an antidepressant medication to treat bipolar disorders. The brines are used in air conditioning systems manufacture.
The report “Global Lithium Compounds Market Report By End Use (Li-Ion Batteries, Glass & Ceramics, Medical, Lubricants, Metallurgy, Polymers, Others), By Derivatives (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Butyl Lithium, Lithium Chloride, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" initially provides the market overview, executive summary followed by detailed revenue analysis bifurcated by segments and regions. The study researches the historical trends of the industry along with understanding all the geo-economic conditions related to the lithium compounds market, thus making the foundation of the report strong and reliable.
On the basis of end use the market is segmented into Li-ion Batteries, Glass & Ceramics, Medical, Lubricants, Metallurgy, Polymers, Others (Grid Storage, Cement & Concrete, Dyestuff, Industrial Bleaching, Pool Chemicals, Specialty Inorganics). By derivatives the lithium compounds market is categorised as Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Butyl Lithium, Lithium Chloride, Others. Regionally, the report is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In this section of the report the data related to all the segments are analysed as per regions.
The Report Segments Global Lithium Compounds Market -
By End Use
Players Profiled In the Report:
Albemarle Corporation, Sociedad Quimica Y Minera De Chile S.A. (SQM), Livent Corporation, Tianqi Lithium Industries Inc., Ganfeng Lithium Co. Ltd., China Lithium Products Technology Co. Ltd., Sichuan Ni&Co Guorun New Materials Co. Ltd., Shanghai China Lithium Industrial Co. Ltd., Nemaska Lithium Inc., Bacanora Lithium, Lithium Americas, Galaxy Resources Limited, Orocobre Limited, Shandong Ruifu Lithium Industry Co. Ltd., NEO Lithium Corporation.
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