Lithium Hydroxide Market Analysis Worldwide Growth Insights, Progressive Trends, and Competitive Landscape Analysis by 2031 | FMC Corporation, Sociedad Quimica Minera (SQM)

Market Overview:

Lithium hydroxide is an inorganic compound widely used as a component in lithium-ion batteries for energy storage applications such as consumer electronics and electric vehicles. It has high solubility in water and acts as an electrolyte.

Market Dynamics:

The demand for lithium hydroxide is growing due to increasing adoption of electric vehicles worldwide. According to several reports, worldwide sales of electric vehicles increased by over 40% in 2021 as compared to 2020. Factors such as rising environmental concerns, stringent emission norms, tax exemptions and incentives on electric vehicles are fueling their adoption globally. Additionally, the increasing deployment of renewable energy is also spurring the demand for large-scale energy storage solutions, driving the lithium hydroxide market growth over the forecast period.

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Major market players included in this report are:

★ FMC Corporation
★ Sociedad Quimica Minera (SQM)
★ Jiangxi Ganfeng Lithium
★ Albemarle Lithium
★ Shandong Ruifu Lithium
★ Jiangxi Dongpeng New Materials Co. ltd.
★ Sichuan Brivo lithium Materials Co. ltd.
★ Leverton Lithium
★ Rockwood
★ Tianqi Lithium

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By End-user Industry
✦ Consumer Electronics
✦ Energy Storage
✦ Transportation
✦ Others (Dyestuffs and Adhesives, etc.)

By Application
✦ Lubricant Grease
✦ Batteries
✦ Chemical Synthesis
✦ Glass & Ceramics
✦ Carbon dioxide Scrubbing
✦ Others (Portland Cement, etc.)

Regional Analysis:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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✤ Lithium Hydroxide Market Drivers: Increasing demand from Lithium-Ion Battery Manufacturing Industries

The lithium-ion battery market has been witnessing tremendous growth over the past few years owing to increased adoption of electric vehicles and demand for portable consumer electronics. Lithium hydroxide is a key raw material that is used in the manufacturing of lithium-ion batteries. With the projected increase in electric vehicle sales and further penetration of consumer electronics globally, the demand for lithium-ion batteries is expected to surge rapidly. This, in turn, is likely to boost the consumption of lithium hydroxide over the coming years.

✤ Rising usage of Lithium Hydroxide in various end use industries

Apart from lithium-ion batteries, lithium hydroxide finds wide applications in several other industries such as air treatment, aluminum production, nuclear power, glass and ceramics manufacturing among others. The rapid growth of these end use industries is anticipated to further impel the sales of lithium hydroxide across the globe. Additionally, shifting focus towards green energy is also driving the adoption of lithium hydroxide in energy storage solutions like large scale battery farms.

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✤ Lithium Hydroxide Market Restrain: Environmental concerns related to mining

Mining activities have several negative impacts on the surrounding environment such as pollution of air and water resources, contamination of soil, and destruction of biodiversity. Major lithium deposits are found in salt flats, brine resources, and hard rock deposits which require open pit or underground mining for extraction. These processes often involve use of hazardous chemicals that could damage the ecosystems if not handled properly. Stringent environmental policies by regulatory bodies to curb pollution from mining projects might hamper the supply of lithium in the coming years.

✤ Lithium Hydroxide Market Opportunity: Innovations in extraction technologies

Ongoing research & development towards environment-friendly and cost-effective extraction methods present lucrative opportunities for participants in the lithium hydroxide industry. Some of the innovative technologies gaining footholds include lithium extraction from geothermal brines, seawater, and non-traditional mineral resources. Advancements like direct lithium extraction, improved leaching processes, and modular mining are being explored to meet the rising demand. If commercialized successfully, these novel technologies could disrupt the market dynamics and open new avenues of growth for lithium hydroxide manufacturers.

✤ Lithium Hydroxide Market Trend: Increasing investments by leading automakers

A key market trend gaining momentum is the rising investments by prominent automakers to ramp up electric vehicle production capacity. Major automotive giants have committed huge capital towards developing affordable EV models and expanding manufacturing infrastructure. For instance, Tesla, GM, Volkswagen, Toyota, and BYD have invested billions of dollars with a vision of dominating the EV market share in the next decade. This, in turn, will accelerate the consumption of lithium-ion batteries, augmenting the demand for lithium hydroxide. The involvement of automotive titans is likely to professionalize lithium hydroxide supply chains and push innovation.

Key Questions

• How much revenue will the global Lithium Hydroxide Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Lithium Hydroxide Market?

• What are the indicators expected to drive the global Lithium Hydroxide Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Lithium Hydroxide Market to expand their geographical presence?

• What are the major advancements witnessed in the global Lithium Hydroxide Market?

• This report answers these questions and more about the global Lithium Hydroxide Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Lithium Hydroxide Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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