Lithium Hydroxide Market Growth Will Be Extreme in the Next Years 2024 - 2031 | handong Ruifu Lithium, Jiangxi Dongpeng New Materials Co. ltd.

Market Overview:

Lithium hydroxide is a white crystalline powder that is highly soluble in water. It is majorly used as an electrolyte component in lithium-ion batteries used in consumer electronics and electric vehicles. It provides high energy density and rechargeability to lithium-ion batteries.

Market Dynamics:

Rising demand for electric vehicles is a major factor driving growth of the lithium hydroxide market. According to the International Energy Agency, electric car sales reached over 6 million in 2021, representing about 9% of global car sales. Additionally, growing consumer electronics industry is also boosting consumption of lithium hydroxide as rechargeable lithium-ion batteries are extensively used in devices such as smartphones, tablets, laptops, power banks etc. Transition toward clean energy is leading to increased investments in energy storage technologies such as lithium-ion batteries which require lithium hydroxide as a key raw material. Many countries are also offering subsidies and tax exemptions for electric vehicles to promote cleaner transportation, thus positively impacting the market.

💎 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/344

Major market drivers for Lithium Hydroxide Market:

Increasing demand for lithium-ion batteries from the electric vehicles industry

The rise of electric vehicles globally has increased the demand for lithium-ion batteries significantly. Almost all electric vehicles today use lithium-ion batteries for energy storage. As more automakers launch electric vehicle models and countries aim to increase EV adoption targets, the demand for lithium-ion batteries is projected to grow exponentially. Since lithium hydroxide is a key raw material used in the production of lithium-ion battery cathodes, its market is directly linked to the growth of the EV industry. Major automakers have announced large investments and production plans for EVs, which will require a consistent lithium hydroxide supply to produce lithium-ion batteries.

Major market opportunity for Lithium Hydroxide Market:

Growing lithium chemical industry in Asia Pacific

China dominates the global lithium chemical industry currently due to abundant raw material resources and high demand centers for lithium-ion batteries. However, other Asia Pacific countries are also emerging as major production hubs. For instance, South Korea, Japan, and India host large battery and cathode manufacturers. This growing lithium-ion battery value chain within Asia presents opportunities for domestic lithium hydroxide producers. Establishing local lithium chemical production facilities helps secure raw material supply and gain an edge in delivering to battery and cathode plants. It also opens doors for technical support and expertise sharing. With supportive government policies and investments, Asia Pacific offers significant scope for new and expanded lithium hydroxide production facilities, which can cater to regional as well as global demand.

Major market trend for Lithium Hydroxide Market:

Rising adoption of high nickel cathode chemistries

Various cathode chemistries are used in lithium-ion batteries based on the application - from lower nickel content ones in consumer electronics to high nickel types in EVs. While NMC 111 is dominant currently, automakers are shifting to advanced chemistries like NMC 532, NMC 622, NMC 811, etc. that use higher nickel amounts for better energy density. Since a lithium hydroxide molecule can deliver more nickel than lithium carbonate, it remains a preferred input material for high nickel cathodes. The push for longer driving ranges is compelling battery manufacturers to develop and deploy higher nickel cathode technologies. As advanced lithium-ion batteries with high nickel content gain larger market share in the coming years, it will boost lithium hydroxide consumption significantly.

💎 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/344

Top Companies Featured in This Report:

★ handong Ruifu Lithium
★ Jiangxi Dongpeng New Materials Co. ltd.
★ Sichuan Brivo lithium Materials Co. ltd.
★ Leverton Lithium
★ Rockwood
★ Tianqi Lithium
★ etc.

Market Segmentation:

By Product Type:
★ Consumer Electronics
★ Energy Storage
★ Transportation
★ Others (Dyestuffs and Adhesives, etc.)

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

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Insights from the Global Lithium Hydroxide Market Analysis:

Market Size Evaluation: Assessing the value and sales volume of the Lithium Hydroxide market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Lithium Hydroxide market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Lithium Hydroxide market.
Segment Analysis: Examining the market value and sales volume of Lithium Hydroxide by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Lithium Hydroxide market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Lithium Hydroxide sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/344

Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: linkedin.com/in/alice-mutum-3b247b137 )

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.