Lithium Compounds Market Analysis by Regions, Types, Applications and Key Companies Contribution 2020-2030 | Players SQM S.A., Livent., Albemarle Corporation., Ganfeng Lithium Co. Ltd

The global Lithium Compounds Market is anticipated to grow at a CAGR of 15.8% from 2020 to 2030.

This significant market growth can be attributed to the high demand for lithium compounds across industries. The growing demand for lithium compounds, such as lithium hydroxide and carbonate in battery applications, stands to be one of the major market drivers. For instance, in 2018, Tesla, one of the leading electric vehicle manufacturers signed a contract with lithium producer, Ganfeng Lithium for the supply of lithium hydroxide. Similarly, LG Chem also signed an agreement with Ganfeng Lithium for the supply of 48,000 tones of lithium hydroxide for electric vehicle batteries until 2022. Lithium and its compounds also find applications in the healthcare industry, which will boost the demand in the coming years. Lithium is approved as a prescription medication for the treatment of bipolar disorder by the US FDA. Additionally, it is used in the treatment of depression, schizophrenia and others. Furthermore, lithium is used for different metallurgical applications such as steel and iron castings. Such factors are expected to drive the demand for lithium compounds in the coming years.

Get Sample Copy for Deep Analysis on "Lithium Compounds Market" @ 
https://www.marketindustryreports.com/pdf/309

Top Players:

Some of the prominent players in the global lithium compounds market are SQM S.A., Livent., Albemarle Corporation., Ganfeng Lithium Co.,Ltd., China Lithium Products Technology Co., Ltd., Lithium Americas Corp., Tianqi Lithium, Galaxy Resources Limited, Shanghai China Lithium Industrial Co.,Ltd., and Nemaska Lithium, among others.

COVID-19 Impact on the Global Lithium Compound Market’:

The emergence of COVID-19 has created several disturbances in smooth functioning of businesses including production, delayed delivery of raw materials, reduced population in workspaces, supply chain interruptions, price fluctuations, and reduced demand from end users and customers. However, researchers have managed to study about the recent strategies during pandemic to avert huge losses and contribute stability of the Global Lithium Compound Market. The report also mentions about the futuristic strategies and planning of the business owners post pandemic.

Get informative of COVID-19 impact analysis on the Lithium Compounds Market @ 
https://www.marketindustryreports.com/speak-to-analyst/309

Growth Factor:

However, the price volatility of lithium compounds and adverse effects on the environment are major market barriers. Owing to the outbreak of COVID-19 worldwide, leading producers, such as Livent, Galaxy Lithium, and others, have halted production processes, which are expected to impact the supply. Similarly, Lithium Americas also suspended the construction of the Caucharí-Olaroz project in Argentina, which was set to boost the lithium industry in the country. Another leading producer, Albemarle is also expected to witness a drop in revenue for the current year owing to the economic conditions globally.

Regional Segmentation Based On:

Asia Pacific stands to be the largest market for lithium compounds owing to the high utilization in batteries, glass &ceramics, aluminum, and other metallurgical applications. China stands to be the largest market for lithium compounds owing to its high domestic demand in different applications. Additionally, the country is also the largest producer and consumer of lithium compounds owing to the presence of key manufacturers operating at high production capacities. For instance, in 2019, General Lithium Corp announced to build a lithium plant by converting spodumene, a hard rock mineral mined for lithium into 60,000 tones of lithium carbonate in China’s Hubei province.

Ask for Discount @ 
https://www.marketindustryreports.com/discount/309

Table of Contents

1.INTRODUCTION
1.Market Definition
2.Market Ecosystem
1.Market Classification
2.Geographic Scope
3.Years Considered for the Study
1.Historical Years – 2016 & 2017
2.Base Year – 2018
3.Forecasted Years – 2019 to 2030
3.Currency Used for the Study
4.Report Beneficiary List

2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottoms Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations of the Study
3.Assumptions of the Study

3.ABSTRACT OF THE STUDY

4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities

In the end, Lithium Compounds Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

Read Full Research Report @ https://www.marketindustryreports.com/press-release/282/lithium-compounds-market

About Market Industry Reports

Market Industry Reports is at the forefront of innovation to address the worldwide industry trends and opportunities. We identified the caliber of market dynamics & hence we excel in the areas of innovation and optimization, integrity, curiosity, customer and brand experience, and strategic business intelligence through our research.

Contact Us

2nd Floor, Manikchand Ikon,
B-Wing, Dhole Patil Road,
Sangamwadi, Pune 411 001
Email: sales@marketindustryreports.com
Phone: +1 347 767 5477 ( US ) + 91 8956 767 535 ( IN ) + 44 131 463 4161 ( UK )
Website: https://www.marketindustryreports.com

This release was published on openPR.