Lithium Foil Market to Outshine with High Growth; to Cross USD 149 BN by 2026
Posted On June 01, 2020
The Global Lithium Foil Market is foreseen to grow at a remarkable CAGR of 8.5% during the year 2020-2026 as estimated by the report from Value Market Research wherein the market value is expected to grow from USD 84.2 BN in 2019 to USD 149 BN by 2026. The global lithium foil market is anticipated to flourish at a profitable rate. This growth can be attributed to the increasing demand for electric automobiles, demands that are bolstered by product innovations, sustainable initiatives by both manufacturers and customers, and increasing consumer interests in electric vehicles. Thus, Lithium foil application in batteries is projected to create lucrative business prospects. However, the high cost associated with lithium batteries inhibits market growth. Battery-powered medical devices such as automatic external defibrillators, pacemakers, insulin pumps, surgical power tools and many more redefine 21st century healthcare. Thus, promoting accelerated product penetration in the global market.
Lithium is regarded as the lightest of all the metals on the earth. Lithium, Li is a soft silvery metal that is kept under oil because of its high water and air reactivity. The metal finds extensive application as an alloying agent with magnesium and aluminium. The metal is also used in the manufacturing of the batteries wherein lithium foil is used as an anode instead of lithium-based metal oxides. Commonly, the lithium foil is used in Lithium batteries and Pharmaceutical & Intermediate industries. The foil offers high energy density for rechargeable applications.
The geographical and segmentation study covered in the report "Global Lithium Foil Market Report By Type (2N, 3N, 4N, And 5N), Downstream Field (Lithium Battery, Pharmaceutical & Intermediate, And Other) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2019-2026" helps in understanding the upcoming trends of the market. The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future.
By type the lithium foil market is segmented into 2n, 3n, 4n, and 5n. On the basis of downstream field the market is segmented into lithium battery, pharmaceutical & intermediate, and other.
The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the lithium foil market.
The Report Segments Global Lithium Foil Market -
By Downstream Field
- Lithium Battery
- Pharmaceutical & Intermediate
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Albemarle, American Elements, CEL, Chemetall, CNNC Jianzhong, FMC, Ganfeng Lithium, Hongwei Lithium, Novosibirsk, and Tianqi Lithium.
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