Lithium Carbonate Market Boosting the Growth Worldwide at a CAGR of 11 % from 2020 to 2030

Lithium carbonate is one of the key materials for the manufacturing of li-Ion batteries for electric vehicles, an industry that has been rapidly growing over the years. This growing demand has proportionately boosted the revenues of manufacturers during the historical period, until landslide policies were proposed by the Chinese government to slash subsidies on EVs, which adversely affected the demand for lithium carbonate in EV applications. Steady demand has been observed from pharmaceutical manufacturers over the years.

To get in-depth information view the report-https://www.factmr.com/report/3791/lithium-carbonate-market

These factors are all set to drive the growth of the lithium carbonate market at a steady pace till the mid-term forecast period of 2020-2030.

As per Fact.MR, the lithium carbonate market is estimated to be valued at US$ 2.2 Bn in 2020, and add value worth US$ 3.9 Bn during the forecast period (2020-2030). The market is projected to expand at a CAGR of around 11% over the assessed forecast period of 2020-2030.

To Remain ‘Ahead’ Of Your Competitors, Request For A Sample-https://www.factmr.com/connectus/sample?flag=S&rep_id=3791

Key Takeaways from Lithium Carbonate Market Study

The global lithium carbonate market is anticipated to create a value opportunity of around US$ 3.9 Bn during the forecast period, adding 2.8X more value as compared to 2020.
Li-Ion battery application is set to dominate market revenue in the year 2020, and is expected to gain 700 BPS in its market share by the year 2030 over 2020.
The pharmaceuticals segment is anticipated to lose around 150 BPS during the forecast period of 2020-2030.
East Asia holds a leading share in the global lithium carbonate market space, of which, China has a majority of the market demand.
The COVID-19 pandemic has affected most industries around the world. The main end-use industries of lithium carbonate are automotive and pharmaceuticals, which have been affected too due to lockdowns and various restrictions, resulting in decreased demand for lithium carbonate in 2020.

“The global lithium carbonate industry is its initial lifecycle, post which, greater potential is set to be unveiled during the mentioned forecast period through 2030,” says a Fact.MR analyst.

For Critical Insights On This Market, Request For Methodology Here-https://www.factmr.com/connectus/sample?flag=RM&rep_id=3791

Key Players to Dominate Lithium Carbonate Market

The global lithium carbonate market is highly consolidated in nature, with key players such as SQM and Albemarle leading the market space. The penetration of new entrants in this market is highly unlikely, owing to thin prices and diseconomies of scale. Speculative demand has higher payoffs in the short term as compared to long-term demand.

More Valuable Insights on Lithium carbonate Market

Fact.MR, in its new offering, presents an unbiased analysis of the global lithium carbonate market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the lithium carbonate market on the basis of purity (98.5% - 99.4%, 99.5% - 99.8%, and 99.9%), grade (high purity, battery, and pharmaceutical), and application (li-Ion batteries, glass & ceramics, cement manufacturing, aluminium production, and pharmaceutical industry, others), across five major regions of the world.

Speak To Research Analyst For Detailed Insights-https://www.factmr.com/connectus/sample?flag=AE&rep_id=3791

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:

Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
Research Insight: https://www.factmr.com/report/3791/lithium-carbonate-market
Content Source: https://www.factmr.com/media-release/1622/global-lithium-carbonate-market

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

This release was published on openPR.