Lithium is naturally occurring metal extracted from mineral spring and ores which has low density. It is used in ceramics, high strength/ low weight alloy and heat resistant glass which are mainly utilized in aircrafts. Growth in construction and renovation activities has led to rise in demand for ceramic tiles and glass and ceramic wares which is likely to favour industry size.
Growing demand for lithium batteries in electric automobiles owing to their low self-discharge rate, long life cycle, fast charging, high energy density and low weight will have positive impact on product demand. Stringent government norms over pollution control through vehicle carbon emissions supported by companies establishing strategic alliances to develop batteries and electric vehicles will escalate industry growth. For instance, Toyota Corporation and BYD Company LTD announced an agreement to establish joint venture to conduct research on battery electric automotive vehicles (BEV) and anticipate establishing that in China by 2020. This factor will act as major driver towards product demand.
The report analyses the global Lithium Compounds market based on derivative, end user and geography.
Various derivative studied are segmented into lithium carbonates, lithium hydroxide, lithium concentrates, lithium metal, lithium chloride, butyl lithium. Lithium carbonates act as a building block for other derivatives. It has wide application scope in aluminium production, pharmaceuticals, glass & ceramics and Li ion batteries. It is also used to minimize silica melting point which is used in ovenware glass. These factors will favour product demand.
Furthermore, the major end users considered in the study are glass & ceramics, li-ion batteries, medical, lubricants, metallurgy, polymers. Lithium ion batteries are widely used in many portable electronics devices including pacemakers, smartphones, watches, camera and electric vehicles will favour industry growth. Lithium ion rechargeable battery technologies are used to consume and save energy. Growth in e commerce industry supported by increase in disposable income levels has led to rise in electronic product sales, thus promoting industry growth.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. Asia Pacific led by India, Japan, South Korea and China lithium compounds market share may witness robust gains in 2019. China is a largest manufacturer and buyer of electric vehicles and accounts for over 99% of electric buses worldwide. Government financial support regarding electric vehicle production which aims over five million battery electric and plug in electric cars on road by 2020 will drive lithium batteries demand. Rapid expansion of battery charging infrastructure supported by increase in consumer awareness regarding electric vehicle will further propel regional industry growth.
The key players in the Lithium Compounds market share are Albemarle Corporation, Livent Corporation, Sociedad Quimica Y Minera De Chile S.A. (SQM), Tianqi Lithium Industries Inc., Ganfeng Lithium Co. Ltd, China Lithium Products Technology Co. Ltd., Nemaska Lithium Inc., Bacanora Lithium, Galaxy Resources Limited, Lithium Americas, Orocobre Limited, NEO Lithium Corporation, Millennial Lithium Corporation, Pilbara Minerals Limited, Covalent Lithium, LSC Lithium Corporation, Piedmont Lithium Limited.
The report analyses the global lithium compounds market based on derivative, end user and geography. Various derivative studied are segmented into lithium carbonates, lithium hydroxide, lithium concentrates, lithium metal, lithium chloride, butyl lithium. Furthermore, the major end users considered in the study are glass & ceramics, li-ion batteries, medical, lubricants, metallurgy, polymers.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa.
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