Lithium Derivatives Market Scenario & Industry Analysis 2019-2025 | FMC Corporation, Albemarle Corporation, SQM, Sichuan Tianqi Lithium Industries Inc., Jiangxi Ganfeng Lithium Co.Ltd., General Lithium, ZHONGHE CO., LTD, Umicore S.A. and Targray Technolog
Lithium is lightest metal with an atomic number 3 and represented by the symbol Li. It is found in trace quantities in biological systems, and its roles are unknown. Lithium salts have proven useful for the treatment of bipolar disorder in humans as a mood-stabilizing drug. Nowadays, lithium salts are commonly used in modern industries to increase levels of comfort, save energy or promote industrial growth. The first chemical in the production chain, lithium carbonate is the building block for other lithium derivatives and is used in a wide variety of applications such as glass, ceramic, enamel industry, pharmaceuticals, aluminium production, and most interestingly is lithium-ion batteries.Request sample copy of this report at: https://www.adroitmarketresearch.com/contacts/request-sample/1336
Lithium hydroxide is majorly used in dyes, high-performance greases, and lithium-ion batteries. Lithium chloride is a hygroscopic salt and a raw material used in the electrolysis of lithium metal. Lithium ions have a massive energy storage capacity that makes them conducive to rechargeable batteries and connected grid storage. The lithium-ion battery is witnessing the highest growth amongst all the battery type and is expected to show a similar trend over the estimated period. Lithium-ion battery chemistry is already competing comprehensively with traditional battery type, such as lead-acid battery type.
Declining lithium-ion battery prices
Over the past few years, the lithium-ion battery has emerged as one of the most promising power sources and is dominating the battery market. The lithium-ion battery industry is primarily driven by rising demand for consumer electronics, electric vehicles, and grid energy storage industry. Over the past decade, the price of lithium-ion battery has decreased due to various technological improvements and economies of scale.
The battery was priced at USD 1000/kWh in 2010 and the average cost now is USD 209 per kilowatt-hour, indicating an 80% drop since 2010. It is estimated that the battery cost will fall to USD 74 per kilowatt-hour by 2030, according to a report published by Bloomberg. The increase in manufacturing scale, rising investments in research and development activities have led to a fall in the price of lithium-ion batteries.
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Consumer prefer automobiles with lithium-ion batteries
Growing environmental concerns regarding carbon emission coupled with dwindling supply of raw materials such as petroleum, coal, and natural gas are expected to open new avenues for electric vehicles over the coming years. Nickel metal hydride batteries are extensively used in a hybrid electric vehicle (HEV). However, rising adoption of lithium-ion batteries in HEV by virtue of abuse tolerance, cold-weather performance, and ability to recharge at high rates is expected to increase its market concentration.
Development of appropriate lithium-ion technology coupled with declining lithium-ion battery prices will increase its penetration over the projected period. The global electric vehicles sales in 2017 were nearly 1.2 million and reached more than 1.5 million sales in 2018.
High energy density and safety as compared to other batteries has increased its penetration in consumer electronics over the past few years, and the trend is expected to continue over the projected period.
In 2017, the global consumer electronics industry generated revenue of more than USD 1 trillion. In 2017, more than 30% of the global population used a smartphone. Economic development, increasing purchasing power, and rising penetration of consumer electronics manufacturers in developing countries such as China, India, Indonesia, and Brazil are expected to increase demand for lithium-ion batteries over the coming years, which in turn will increase consumption of battery materials
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Asia-Pacific to consume nearly more than 70% of the global lithium derivatives market
North America has portrayed a strong market growth for lithium-ion battery industry over recent years. The increased necessity for energy efficient storage systems to support electrical grids, especially under highly stressed conditions and to avoid power blackouts are expected to strengthen its energy storage system industry.
Highly developed nations in Asia Pacific such as Japan, South Korea, New Zealand, and Australia has advanced grids that operate reliably and utilize advanced technologies. In contrast, many nations in the region are still developing fundamental infrastructure systems and have limited or unreliable power grids.
Growing energy requirement coupled with increasing renewable energy generation in India, Japan, and China is expected to result in rising penetration of lithium-ion batteries over the coming years. For instance, following the Fukushima nuclear accident, the Japanese government changed its energy strategy to put more emphasis on renewables, particularly solar PV.
The Chinese government is aggressively promoting the adoption of electric vehicles in order to achieve its cleaner air objectives. In 2017, the Chinese government spent more than USD 7 billion on electric vehicle subsidies. In the same year, around 777,000 electric vehicles were sold in China which is a 53.3% percent increase over 2016, according to China Association of Automobile Manufacturers (CAAM).
Key Market Players
o FMC Corporation
o Albemarle Corporation
o SQM
o Sichuan Tianqi Lithium Industries Inc.
o Jiangxi Ganfeng Lithium Co.Ltd.
o General Lithium
o ZHONGHE CO., LTD
o Umicore S.A.
o Targray Technology International, Inc.
o Others
Market Segments: Lithium Derivatives Market
By Type
Lithium Carbonate
Lithium Hydroxide
Lithium Chloride
Lithium Metal
Butiylilithium
Others
By End-Use
Batteries
Lubricants & greases
Medicals
Metallurgic
Glass & ceramic
Aluminium smelting & alloys
Polymers
Others
By Region (tentative)
North America
U.S.
Canada
Europe
UK
Germany
France
Asia Pacific
China
Japan
South Korea
India
Rest of the World
Key Sources
o Industry Associations
o Patent Websites
o Company Annual Reports
o Company Websites
o Key industry leaders
o Technology consultants
o Battery Associations
o Un Comrade
o E-commerce websites
o Others
Key Questions Answered
o What are the key growth regions and countries?
o What are the important types and technologies being used?
o What are the market players doing, in terms of research and development?
o Which are the new applications for this market?
o What are the integrations happening?
o What are the recent news, developments, mergers, or large value deals?
Key Stakeholders
o Raw material suppliers
o Battery suppliers
o E-commerce platforms
o Tech companies
o Regulatory Authorities
o Research and Innovation Organizations
o Suppliers and Distributors
o Other Channel Partners
o Quality Control Organizations
o Environmental Authorities
o Automotive companies
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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