Lithium Compounds Market 2021 Global Industry Size, Share, Business Growth, Revenue, Global Penetration and Forecast to 2025 | Adroit Market Research
The Global Lithium Compounds Market research report gives the deep understanding about the regions where the market is impactful. It also elaborates the big and small vendors working actively all over the globe.
Dallas, USA – March 24, 2021 /MarketersMedia/ —
The global Lithium Compound market size is projected to reach over USD 9 billion by 2025. Lithium is an alkali metal that is generally present among the soil, human body, animals, and plants. It is a light weight metal with less density when compared to other elements. The lithium compounds, primarily find its application in rechargeable and non-rechargeable batteries. The lithium is primarily used across glass & ceramics, Li-ion batteries, healthcare, and lubricant industry. Its battery utilization finds application across a broad range of sectors including laptop, cellular devices, electric vehicle, and power generation storage including others.
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The positive government outlook toward promotion of electric vehicle and solar energy owing to rising environmental concerns is driving the industry upsurge. The rising inclination toward information technology and digitization has shifted consumer lifestyle toward electronic devices, which in turn is further escalating the industry upsurge. The key advantage of the battery is its higher energy density and lighter weight when compared to the other available alternatives which in turn will catapult the industry upsurge over the forecast timeline.
The report also throws light on various aspects of the global Lithium Compound industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the Lithium Compound industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The Lithium Compound market holds a strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The Lithium Compound market is categorized into Li-Ion batteries, medical, glass & ceramics, lubricants, metallurgy, polymers, and others on the basis of end use. The lithium ion segment is expected to expand at a growth rate of around 20% over the forecast period on account of its rising demand of batteries. Further, growing demand from automobile, energy storage, and consumer electronics component are expected to catapult the segment growth over the forecast timeframe.
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Europe is poised to experience a substantial upsurge in the coming years. Rising concern associated with environmental changes leading to the adoption of electric vehicle and solar and wind energy storage is contributing toward industrial upsurge where these systems utilize battery to store energy. Supportive measures by the government to favor the promotion of these units will in turn positively impact the business landscape. In addition, ongoing innovation activities by the industry players to improve battery capabilities and improve the charging rate will further drive the product demand.
The major players operating across the global Lithium Compound market include Livent Corporation, Albemarle Corporation, Tianqi Lithium Industries, Ganfeng Lithium Company Limited, Nemaska Lithium Inc., Bacanora Lithium, Lithium America, Galaxy Resources Limited. The industry for lithium compound is integrated with the participation of established global players across the globe. In addition, these companies are focusing on expanding their footprint through implementation of inorganic as well as organic strategies which in turn is proliferating the business outlook.
Segment overview of Lithium Compound market
Derivative Overview, 2018-2025, (USD Million and kilotons)
Lithium Carbonate
Lithium Hydroxide
Lithium Metal
Butyl Lithium
Lithium Concentrate
Lithium Chloride
Others
End Use Overview, 2018-2025, (USD Million and kilotons)
Li-Ion Batteries
Medical
Glass & ceramics
Lubricants
Metallurgy
Polymers
Others
Industry Vertical Overview, 2018-2025, (USD Million and kilotons)
Aerospace & Defense
Automobile
Energy
Chemicals
Pharmaceuticals
Others
Regional Overview, 2018-2025, (USD Million and kilotons)
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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