The pharmaceutical grade lithium carbonate market is projected to grow from USD 141 million in 2023 to USD 166 million by 2028, at a CAGR of 3.3% from 2023 to 2028. Pharmaceutical grade lithium carbonate is a drug primarily utilized to treat mood disorders such as bipolar disorder and depression. It is a type of lithium, an alkali metal with been shown to have mood stabilizing properties. The most frequently prescribed form of lithium medicine is lithium carbonate.
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Companies such as Livent Corporation (US), Albemarle Corporation (US), Jiangsu Lianhuan Pharmaceutical Co., Ltd. (China), American Elements (US), Globe Química (US), Jiangsu Nhwa Pharmaceutical Co., Ltd. (China), Panchsheel Organics Ltd (POLTD) (India), Blanver (Brazil) are operating in this market. These players have adopted the strategies of agreement, joint development, and expansion to increase their market shares.
Livent Corporation is engaged in manufacturing good performance product solutions such as energy storage & battery systems, polymers, grease, aerospace, and pharmaceuticals & agrochemicals. Livent operates manufacturing sites in the US, England, India, China, and Argentina. The company is one of the manufacturers of lithium compounds with various performance levels. Its good performance lithium compounds play a crucial role in the manufacture of medicines and polymers as well as existing and future high energy density batteries used in electric car applications. The company has a strong focus in the majority of the global markets for lithium compounds, with significant expansion taking place in Asia, followed by Europe and the US.
Albemarle Corporation caters to various end markets such as energy storage, petroleum refining, consumer electronics, building, automotive, lubricants, pharmaceuticals, and crop protection. The company aims at maintaining leading positions in the areas of specialty chemicals industry through commercial and geographic diversity, technical know-how, access to resources, global manufacturing base, and strategic focus on core base technologies. Albemarle operates around 25 production and research & development (R&D) facilities. Albemarle Corporation has acquired companies and formed joint ventures as a part of its corporate growth strategy, and it plans to look for acquisition and joint venture opportunities in the future.
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Jiangsu Lianhuan Pharmaceutical Co., Ltd.
Jiangsu Lianhuan Pharmaceutical Co., Ltd. is engaged in integrating R&D, manufacturing, and sales in the pharmaceutical sector. It offers various products such as urinary system (Eprelide, terazosin), antihistamines (Ebastine Tablets, Terfenadine Tablets), cardiovascular drugs (Felodipine tablets, simvastatin tablets), steroid hormones (levonorgestrel, danazol capsules) and antibiotics (azithromycin tablets, doxycycline hydrochloride tablets). It is one of the major 100 businesses in China’s pharmaceutical sector and has seen a number of advancements. The company has a strong focus on research & development with the formation of two R&D facilities in China.
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