Lithium Compounds Market Research, Global Industry Size, Growth Analysis, Share, Price Trends and Forecast 2022-2027

The global lithium compound market reached a value of US$ 5.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion by 2027, exhibiting a CAGR of 8% during 2022-2027.

Lithium is a soft, silvery-white alkali metal which occurs in compounds such as petalite and spodumene. It is found in small amounts in nearly all igneous rocks and in the waters of a number of mineral springs. Lithium compounds are used in a wide array of applications ranging from the production of plastics and synthetic rubber to textile dyes.

Request for a sample copy of this report:https://www.imarcgroup.com/lithium-compound-market/requestsample

Global Lithium Compound Market Drivers/Constraints:

  • Compounds of lithium are used for making enamels, ceramics, glass and lubricants for high temperature applications. As these products are further used in construction activities, the investments in infrastructure developments, renovation of buildings and new housing projects are projected to fuel the growth of global lithium compound market.
  • Lithium compounds are utilized in rechargeable batteries, cooling systems for nuclear reactors, armour plating, specialty glasses, bicycle frames, aircrafts, etc. The continuous growth in these segments has boosted the demand for lithium compound worldwide.
  • The growing usage of lithium-ion batteries in portable electronic devices including cameras, watches, smartphones, electric vehicles and pacemakers is further boosting the growth of the market.
  • The lithium compounds can harm the kidneys and affect a person’s mental health. This is the major reason hindering the growth of the market. Moreover, the high cost of lithium batteries also acts as a major deterrent.

Browse full report with table of contents: https://www.imarcgroup.com/lithium-compound-market

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global lithium compound market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type and end use.

Breakup by Type:

  • Lithium Carbonate
  • Lithium Hydroxide
  • Lithium Concentrate
  • Lithium Metal
  • Lithium Chloride
  • Butyllithium
  • Other Lithium Compounds

At present, lithium carbonate holds the largest market share due to its rising utilization in the production of ceramics and glasses.

Breakup by End Use:

  • Batteries
  • Glass and Glass Ceramics
  • Automotive Parts
  • Greases
  • Metallurgy
  • Polymer
  • Air Treatment
  • Others

Presently, the application of lithium compounds is increasing in batteries as they find extensive applications in the automotive industry.

Breakup by Key Regions:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

The Asia Pacific enjoys the leading position in the market on account of the increasing production of electric and hybrid vehicles in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are SQM S.A., FMC Corporation, Orocobre Limited, Lithium Americas Corp. and Neometals Ltd.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal

Vidhi

Hi, I'm Vidhi! I have 2 years of content writing experience. I am running think-how.com, myinvestmentplaybook.com and smallpetanimals.com websites individually. And also I work for many other agencies and websites.

Recommended Articles

Leave a Reply

Your email address will not be published.