The global demand for Lithium Compounds Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX KT in 2021 and foreseen to touch XX KT by 2028 with a CAGR of XX% during 2022-2028.
Lithium is a soft and silvery alkali metal that exhibits the lowest density of all the metals. Lithium is a highly reactive and flammable element; it never occurs freely in nature. Lithium Compounds have numerous industrial applications that include lithium-ion batteries, metallurgy, healthcare, glass & ceramics, lubricants, pharmaceuticals, and more. Also, lithium salts have been proven to be potent in the treatment of bipolar disorder in humans. The metal exhibits low density compared to that of pinewood.
The market growth of lithium compounds internationally is steered by ever-increasing demands for lithium compounds in end-user industries. High population growth and intense traffic congestion worsen the problem of air pollution, which encourages the need for electric and hybrid vehicles. The utilization of Lithium-ion batteries as the primary source of power in electric vehicles. Also, with soaring utilization of the Internet of Things and end-user electronics (smartphones, power banks, tablets, and more). The wide application of lithium carbonate makes it an essential industrial chemical. These factors act as potent growth parameters of the lithium compounds market. However, as the number of totals confirmed cases of a novel coronavirus named COVID-19 swells past 2,500,000, the brunt of the disease has taken a toll on the worldwide economy, triggering demand and supply imbalance, fluctuations in stock prices and depressing ROI predictions. This acts as a key challenge for the lithium compounds market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of lithium compounds.
The entire lithium compounds market has been sub-categorized into end use and derivatives. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By End Use
- Li-ion Batteries
- Glass & Ceramics
- Grid Storage
- Cement & Concrete
- Industrial Bleaching
- Pool Chemicals
- Specialty Inorganics
- Lithium Carbonate
- Lithium Hydroxide
- Lithium Concentrate
- Lithium Metal
- Butyl Lithium
- Lithium Chloride
This section covers regional segmentation which accentuates on current and future demand for lithium compounds market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Lithium Compounds Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the lithium compounds market include 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. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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