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Salt Lake Battery Grade Lithium Carbonate Market Industry Overview and Regional Segmentation by Top Companies: SQM, Albemarle, Tibetan Lithium Industry, Qinghai Salt FMC, Ganfeng Lithium Co.

Salt Lake Battery Grade Lithium Carbonate Market Industry

Salt Lake Battery Grade Lithium Carbonate Market Industry

Lithium carbonate Li2CO3 is an important engineering chemical. It is widely used mostly in chemical batteries. Salt Lake Battery Grade Lithium Carbonate is type of Lithium carbonate that is extracted from Salars which basically are brine water sources. Almost 87 % of the lithium is extracted from the Salars. Salars have the highest concentration of lithium nearly 1,000 to 3,000 ppm.

Increasing demand for salt lake battery grade lithium carbonate from electronics industry is likely to drive the market. Additionally, the inexpensive extraction process as compared to land mining is turning to be an advantage which shall foster the market growth.

However, the brine mining method is upfront but it is a time-consuming process that involves natural evaporation. It may take 8 months to 3 years of time for evaporation. This is expected to hinder the market growth. However, the scientists are developing new methods to overcome this drawback which can turn out to be an opportunity.

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Salt Lake Battery Grade Lithium Carbonate Market Segmentation:-

By Product:
• 99.5 %
• >99.5 %

By End-User:
• Power Battery
• 3C battery
• Others

The chemical industry has undergone tremendous changes over the past decade. Armed with an extensive and diverse range of products, the industry has found prolific success in developing as well as developed economies. Post the economic recession of 2007, this industry has grown at a steady pace. Spreading awareness about environmental issues and evolving consumer
preferences are positively impacting this industry.
As per the European Chemical Industry Council, the demand and consumption of chemicals in Europe is anticipated to increase. Targeted investments in R&D for developing novel chemical-based products are likely to feed the proliferation of factories and other industrial units. Furthermore, the surging demand for chemicals is a consequence of increasing consumer spending. Employment in this sector is also expanding at a rapid rate, which in turn is expected to generate several growth opportunities. These factors are thus expected to drive the Salt Lake Battery Grade Lithium Carbonate market size in the forthcoming years.

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Digitization is an emerging trend in the chemical industry, which is driving the Salt Lake Battery Grade Lithium Carbonate market. Digital tools will help companies to collect and analyse important and relevant data and draw valuable insights, thereby enabling them to make more informed and better quality decisions. Advanced technologies such as machine learning (ML), artificial intelligence (AI), Internet of Things (IoT), blockchain, and others are envisaged to disrupt the present governing dynamics of the market. And increasing urbanization and globalization, especially in emerging economies, is further supporting the expansion of the Industry.
However, In this Salt Lake Battery Grade Lithium Carbonate market growth is likely to be hindered by the COVID-19 pandemic as lockdowns, social distancing, and trade restrictions have caused massive disturbances in the global supply chain networks. Production operations have slowed down as plants and factories are being forced to function with a reduced workforce. Together, these factors have shrunk the revenues of key players in this market, which will inevitably hamper investments in the market. Nonetheless, certain companies will also experience exponential growth owing to the escalating demand for packaged medical and pharmaceutical products, personal protective equipment, and packaged food & beverage items.

Major players operating in the Global Salt Lake Battery Grade Lithium Carbonate Market include
• SQM,
• Albemarle,
• Tibetan Lithium Industry,
• Qinghai Salt Lake Industry Co., Ltd,
• Western mining, CITIC Guoan,
• FMC,
• Ganfeng Lithium Co.
• and Others.

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Research Methodology
The Salt Lake Battery Grade Lithium Carbonate industry Share report offers an in-depth evaluation of the chemical industry and the demand drivers for chemicals by highlighting information on several aspects of the market, including drivers, trends, opportunities, and challenges. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers. These advancements will help companies to gain decisive advantage in the competitive landscape of the market. Companies are also adopting diverse strategies to stay ahead of their competitors. These strategies include: mergers and acquisitions, partnerships, collaborations, and new product developments, among others.
The information has been gathered through primary and secondary sources, comprising of interviews from several industry experts and professionals. Secondary sources such as press releases, information from recognized institutes, and other collaterals have been utilized to holistically analyze the industry. Further, top-down and bottom-up approaches have also been employed to ensure 360-degree assessment.

By Geography
• North America (USA, Canada, and Mexico)
• Europe (Germany, France, U.K., and Rest of Europe)
• Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
• Rest of the World

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