Lithium Derivatives market is surging
exponentially mainly due to one of its type Lithium ions. Great capacity to
store energy makes Lithium ions an ideal component for making rechargeable
batteries and grid connected storage. Emergence of electric vehicles that run
on Lithium batteries, consumer preference towards rechargeable batteries due to
its high drain application coupled with the increased environmental and
economic benefits these batteries provide are some of the driving forces
increasing the uptake of Lithium batteries that eventually drive growth of
Lithium Derivatives market.
Simultaneously, other properties of
Lithium Derivatives such as viscosity glass modifiers in the glass melts, high
coefficient of thermal expansion, and higher electrochemical potential as
compared to other catalytic metal; these derivatives find extensive application
in manufacturing of lubricants, Glass & Ceramic items, Polymers and
Aluminium Smelting & various alloys.
Attributing to the wide uptake &
range of application industries; the market of Lithium Derivatives enjoys a
great market traction on the global platform. Furthermore, contribution from
the burgeoning consumer electronics industry owing to the consumer preference
& adoption of portable devices coupled with the expanding uptake of
electric vehicles. Factors as such are expected to provide impetus to the
market growth during the review period.
Recognizing the potential of the
market to grow further in the years to come, Market Research Future (MRFR) has
published a detailed study report giving out the market forecast for the period
2017 – 2027. In its analysis, MRFR asserts that the global Lithium Derivatives
market is expected to reach up to USD 2,074.2 million by 2027 growing at 5.80%
CAGR during review period of 2017-2027.
On the other hand, factors such as
high initial investment cost & lack of expertise in the lithium extraction
activities are expected to restrict the market growth during the assessment
period.
Lithium Derivatives Global Market -
Competitive Analysis
The global Lithium Derivatives
market appears to be highly competitive and
diversified with the presence of many well established players having regional
and global presence. Innovation, Product Launch, M&A activities along with
the brand reinforcement remain the key trends for leading players in the smart
camera market.
Industry/ Innovation/ Related News:
March 9, 2018 - Albemarle Corporation
(US), a leading global producer of leader in the production of lithium and its
derivatives, announced receiving of approval from CORFO (Chile's Economic
Development Agency) for increasing the company's lithium quota consequently
increasing its lithium production in Chile.
According to the approval, Albemarle can increase its lithium production
as much as 145,000 metric tons annually through 2043.
Get More Professional and Technical Industry Insights @ https://www.marketresearchfuture.com/reports/lithium-derivatives-market-3891
Worldwide Lithium Derivatives
Market - Segments
Global Lithium Derivatives Market is
segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
By Derivative Types: Comprises -
Lithium Carbonate, Lithium Concentrate, Lithium Hydroxide, Lithium Metal,
Lithium Chloride, Butyl Lithium, and others.
By Applications: Lubricants,
Batteries, Medicals, Glass & Ceramic, Metallurgic, Alloys, Polymers and
Aluminium Smelting and others.
By Regions: North America, Europe, APAC, and Rest of the
World.
Worldwide Lithium Derivatives
Market - Regional Analysis
Asia Pacific accounted for the
largest market for Lithium Derivatives which in 2016, occupied 53% of the
global market shares. China, among other APAC countries, being the largest
producer for the lithium-ion batteries for the electric vehicle. Other factors
adding up to the china market growth include; economic growth, availability of
low cost man power, presence of several small scale lithium derivative
producers coupled with the presence of huge automotive manufacturing base.
On the other hand, North America is
another lucrative market for lithium derivatives, owing to the presence of
major markets players in US & Canada.
Europe market for lithium derivatives
growing steadily, is likely to perceiver relatively a faster growth in the next
7 years attributing to the greater adoption of electric vehicles.
Albemarle Corporation (U.S.), FMC
Corporation (US), SQM (Chile), Jiangxi Ganfeng Lithium Co.Ltd. (China), Sichuan
Tianqi Lithium Industries Inc. (China) and General Lithium are some of the
prominent players profiled in MRFR Analysis and are at the forefront of
competition in the Global Lithium Derivatives Market.
NOTE: Our Team of Researchers is
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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