Lithium Hydroxide Global Market 2018 | Growth by Top Companies, Trends by Types and Application, Forecast Analysis to 2023

Lithium Hydroxide Market
Global Lithium Hydroxide Market Research Report: By Application (Batteries, Ceramic Glass, Lubricant Grease, Air-Conditioning), End-Use (Automotive, Electrical & Electronics, Marine, Aerospace) – Forecast Till 2023

Lithium Hydroxide Market – Overview

The positive characteristics of Lithium Hydroxide have increased the degree of its applications in various sectors. Market reports linked to the chemicals & materials sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry is expected to demonstrate a swift pace of growth which will contribute to a high CAGR percent and revenue in the forecast period.

The industry is expected to observe trends such as the rising consumption of Lithium Hydroxide in glass, grease, and air conditioning equipment segments which will propel its growth in various regions to attain stunning growth through the forecast period. The properties of Lithium Hydroxide such as thermal resistance, unique lightweight, and high standard performance to the product have further contributed to the increase in demand for the industry. The market is estimated to witness rising innovation and technological progress in lithium-ion batteries which will be instrumental to the growth of the market in the forecast period.

Industry Segments

The Lithium Hydroxide Industry globally is divided into application and end-use. On the basis of the application, the industry is segmented into ceramic glass, batteries, lubricant grease, and air-conditioning segments. The segmentation of the industry based on the end-use criteria includes electrical & electronics, automotive, aerospace, marine, and others.

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Detailed Regional Analysis

The Lithium Hydroxide Industry is segmented into the following regions such as North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Between these, the Asia Pacific region holds a major portion of the industry owing to the rising approval of lightweight metal in glass, batteries, air conditioning equipment, grease and others. The batteries segment controls the major share and is expected to carry on its domination of the industry owing to extraordinary features accessible such as energy density, high efficiency and other characteristics. Therefore, nations such as Japan, China, South Korea, and India are the major competitors in this industry. The North American region is demonstrating significant growth owing to the growing production of lithium-ion batteries in electronics & electrical industries. It is expected that rising investments in the end-use industries such as aerospace, automotive, and others are probably going to drive the industry during the forecast period. The European market has witnessed an extraordinary growth pace owing to stringent regulations and rules implemented by the regional governments to follow lightweight products in end-use industries. On the other hand, the Middle East & African region is expected to witness the rising consumption of low-density materials in smartphones, tablets, and other electronic gadgets.

Global Competitive Analysis

Contenders who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario. With the ability to sustain their competitive edge being one of the primary factors driving their efforts, the scope for growth in the industry appears to be promising through the forecast period. The rising affinity for diversification in the market, has indirectly enabled the players to utilize the many prospects available. The companies in this particular industry are also trying to maintain and enhance financial liquidity that can be instrumental to invest in growth strategies as and when they become available.  This particular trend has enabled portfolio improvements along with the affinity for diversification in the sector, which has benefitted the market competitors tremendously in this industry.

The key competitors in the Global Lithium Hydroxide Industry are SQM (Chile), FMC Lithium (U.S.), Albemarle Corporation (U.S.), Tianqi Lithium Corporation (China), LITHIUM AMERICAS (Canada.) and Jiangxi Ganfeng Lithium Co., Ltd. (China) to name a few.

Industry Updates:

April 2018 Neometals Ltd have received test results that validate their high-purity lithium hydroxide process. Vendor testing conducted by Veolia Water Technologies has produced a 99.99 percent pure lithium hydroxide monohydrate. This product is appropriate for usage in the lithium-ion battery sector. The test work was carried out on run‐of‐mine 6 percent lithium oxide spodumene concentrates from the Mt Marion mine, in which Neometals have a 13.8 percent interest in.

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