02-Jun-2020 | Facts and Factors
Findings from Facts and Factors report “Lithium Compounds Market By Derivatives (Lithium Carbonate, Lithium Chloride, Lithium Hydroxide, Butyl Lithium, Lithium Concentrate, and Lithium Metal) and By End-Use (Li-Ion Batteries, Lubricants, Medical, and Glass & Ceramics): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Lithium Compounds market in 2019 was approximately USD 3.00 Billion. The market is expected to grow at a CAGR of 20% and is anticipated to reach around USD 11.00 Billion by 2026.
Lithium is formed by electrolysis of a fused lithium and potassium chloride mixture. Compared to pure lithium chloride it has a lower melting point than the mixture. It enables the application of electrolysis at lower temperatures.
Browse the full “Lithium Compounds Market By Derivatives (Lithium Carbonate, Lithium Chloride, Lithium Hydroxide, Butyl Lithium, Lithium Concentrate, and Lithium Metal) and By End-Use (Li-Ion Batteries, Lubricants, Medical, and Glass & Ceramics): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/lithium-compounds-market-by-derivatives-lithium-carbonate-lithium-1077
The rise in demand for electric vehicles and electronic battery-powered gadgets is estimated to propel the lithium compounds market in the forecasted period. The extraction of lithium increases its operational cost which ultimately increases the product cost. Moreover, the negative environmental effect of lithium extraction may hinder the market growth.
The lithium compounds market is segmented such as derivative, and End-Use. Based on the derivatives market is bifurcated as lithium carbonate, lithium chloride, lithium hydroxide, butyl lithium, lithium concentrate, and lithium metal. The lithium carbonate market is projected to contribute to leading market share, owing to its wide applications such as the processing of metal oxides, production of glass and ceramics, production of aluminum, lithium-ion batteries, and pharmaceuticals. In the terms of end-use market is bifurcated as Li-Ion batteries, lubricants, medical, and glass & ceramics. The building of international pressure to shift over clean energy and hazardous environmental changes is projected to shift the developed and developing nations to electrical vehicles which are estimated to generate significant demand for lithium-ion batteries in the forecasted period.
According to region market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is estimated to lead the market in the forecast period. The growing demand for energy storage applications and vehicles and augmented demand for consumer gadgets is estimated to create a sustainable demand for the lithium compounds in the forecasted period. The prominent countries such as India and China are estimated to shift to the electrical vehicle till 2030 which is expected to fuel the lithium compound industry growth in Asia followed by North America and Europe. Moreover, the moderate GDP and population of Latin America and the Middle East & Africa are estimated to witness moderate growth in the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 3.00 Billion |
Projected Market Size in 2026 |
USD 11.00 Billion |
CAGR Growth Rate |
20% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Millennial Lithium Corporation, Livent Corporation, Sociedad Quimica y Minera de Chile S.A., Neo Lithium Corporation, Albemarle Corporation, Nemaska Lithium Inc., Shandong Ruifu Lithium Industry Company Limited, Tianqi, Orocobre Limited, Galaxy Resources Limited, China Lithium Products Technology Company Limited, Lithium Americas, Bacanora Lithium, Shanghai China Lithium Industrial Company Limited, Sichuan Ni&Co Guorun New Materials Company Limited, and Ganfeng Lithium Company Limited., and Others |
Key Segment |
By Derivative, End Use, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the leading players in the global market include
Millennial Lithium Corporation, Livent Corporation, Sociedad Quimica y Minera de Chile S.A., Neo Lithium Corporation, Albemarle Corporation, Nemaska Lithium Inc., Shandong Ruifu Lithium Industry Company Limited, Tianqi, Orocobre Limited, Galaxy Resources Limited, China Lithium Products Technology Company Limited, Lithium Americas, Bacanora Lithium, Shanghai China Lithium Industrial Company Limited, Sichuan Ni&Co Guorun New Materials Company Limited, and Ganfeng Lithium Company Limited.
This report segments the Lithium Compounds Market as follows:
By Derivative Segmentation Analysis
- Lithium Carbonate
- Lithium Chloride
- Lithium Hydroxide
- Butyl Lithium
- Lithium Concentrate
- Lithium Metal
By End Use Segmentation Analysis
- Li-Ion Batteries
- Lubricants
- Medical
- Glass & Ceramics
By Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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