Lithium Carbonate market was valued at US$ 2699 million in 2020 and it is expected to reach US$ 7761.6 million by the end of 2027, growing at a CAGR of 16.8%

The global Lithium Carbonate market was valued at US$ 2699 million in 2020 and it is expected to reach US$ 7761.6 million by the end of 2027, growing at a CAGR of 16.8% during 2021-2027.

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Lithium Carbonate
Lithium carbonate is an inorganic compound, the lithium salt of carbonate with the formula Li2CO3. This white salt is an important industrial chemical and widely used in many industries, such as battery industry, processing of metal oxides

Major Trends in Lithium Carbonate Market
An inorganic substance, lithium carbonate is the lithium salt of carbonate and has the formula Li2CO3. The battery industry, the manufacturing of metal oxides, and many other industries employ this white salt as a crucial industrial ingredient.

Lithium Carbonate Market Trends
Lithium carbonate, an inorganic compound with the chemical formula Li2CO3, is the lithium salt of carbonate. This white salt is a vital industrial component used in the battery sector, the production of metal oxides, and numerous other industries. The lithium salt of carbonate is a non-metallic substance having the chemical formula Li2CO3. This white salt is a crucial industrial ingredient used in the manufacture of metal oxides, the battery industry, and countless other industries. These factors are expected to drive the growth of the Lithium Carbonate Market.

When making specialty glass and ceramics, lithium carbonate is frequently utilized as a thermal expansion control agent. This factor is expected to drive the growth of the Lithium Carbonate Market. For instance, glass cooktops must be capable of going from room temperature to several hundred degrees without breaking, and lithium carbonate is what enables this.

Lithium carbonate, due to its effectiveness in treating mood disorders including bipolar disorder, is listed on the World Health Organization's list of essential medicines. This factor is expected to drive the growth of the Lithium Carbonate Market.

It is a powerful lubricant that is applied when working with metal on metal. Since lithium is a sort of thickener, it serves as a sponge by absorbing small amounts of oil while being used, in addition to providing structure to keep the oil in place. This factor is expected to drive the growth of the Lithium Carbonate Market.

Lithium Carbonate Market Share Analysis
SQM, Albemarle, and Ganfeng Lithium, among others, are major players in the lithium carbonate market. A 35% share is held by the top three producers worldwide.

With a market share of approximately 50%, Asia Pacific is the largest region, followed by South America and Europe, each with a share of about 45%.

With a market share of over 70%, Battery Grade Lithium Carbonate is the most significant product category. Batteries are the most widely used application, followed by glass and ceramics, lubricants, metallurgy, etc.

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