Press release
Lithium Hydroxide Market 2020 Revenue Status and Outlook - SQM S.A., Tianqi Lithium Corporation, Albemarle Corporation
Lithium Hydroxide Market
The report presents an in-depth assessment of the Global Lithium Hydroxide including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Lithium Hydroxide investments from 2020 till 2024.
The market for Lithium hydroxide is expected to grow at a CAGR of over 10% during the forecast period of 2019 to 2024.
The Global Lithium Hydroxide market is highly competitive and consists of a number of major players. Companies, like SQM S.A., Tianqi Lithium Corporation, Albemarle Corporation, Leverton-Clarke Speciality Chemicals, FMC Corporation., Ganfeng Lithium Co.,Ltd., Nemaska Lithium, SICHUAN BRIVO LITHIUM MATERIALS CO., LTD., Shangai China Lithium Industrial co., Ltd, HELM AG among others.
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Market Overview
Major factors driving the market studied are the growing demand for electric vehicles which use lithium batteries and increasing demand for power tools which use lithium hydroxide NCA cathode. However, rising concern regarding the toxicity of lithium hydroxide is expected to restrain the growth of the market.
- Batteries application dominated the market in 2018 and is expected to grow during the forecast period owing to the increasing demand for EVs.
- Growing industrialization in Asia pacific is expected to drive the demand for power tools which in turn is expected to increase the demand for lithium hydroxide as the power tools use lithium hydroxide NCA cathode.
- North America dominated the market across the globe with the largest consumption from the countries followed by Europe and Asia-pacific.
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Key Market Trends:
Increasing Demand for Electric vehicles
- One of the major applications of lithium hydroxide is in making cathodes for rechargeable batteries which are used in electric vehicles. Lithium hydroxide is the most preferred among all the lithium compounds for this purpose as they have extreme electrochemical potential and low density.
- Generous subsidies for electric vehicles and stringent regulations regarding the usage of conventional vehicles by the government are some of the key factors that are driving the growth of electric vehicle production in countries like China which occupies the majority share of the global electric vehicle market.
- According to International Energy Agency, the global EV sales has reached 1.1 million by 2017 with a growth rate of 54% over 2016. Norway was the major shareholder globally, with a share of around 39% followed by Iceland and Sweden.
- Companies like Tesla are investing hugely in promoting the use of electric vehicles by developing cost effective and high performance electric vehicles in order to leverage the adoption of electric vehicles and to create a network of supporting businesses, such as EV charging stations and service centers.
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The key insights of the Lithium Hydroxide Market report:
The report provides key statistics on the market status of the Lithium Hydroxide market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Lithium Hydroxide market report presents the company profile, product specifications, capacity, production value, and 2015-2020 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2020-2024 market development trends of Lithium Hydroxide Market.
Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
The report makes some important proposals for a new project of Lithium Hydroxide Industry before evaluating its feasibility.
Finally, Lithium Hydroxide Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Lithium Hydroxide industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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