The Lithium Compounds Market deals with the development, manufacture and distribution of various compounds of lithium across the globe. Lithium is a soft metal, which has a silver-white color, and is listed in the chemical elements under the group of alkali metal. If further information on lithium is required, then the facts that it is the lightest metal as well as the solid which is least dense really stand out.
The Lithium Compounds Market also makes further use of various lithium properties like its highly reactive and flammable nature due to which it is usually stored in mineral oil. Lithium’s highly reactive nature means that it cannot be found freely in nature. Hence, lithium manufacturers usually derive it from various ionic compounds of lithium, clay and brine. Another alternative for lithium manufacturers is its isolation from a combination of lithium chloride and potassium chloride through electrolysis.
Scope & Regional Forecast of the Lithium Compounds Market
The most lucrative application for the Lithium Compounds Market, in value or volume, is the ubiquity of a lithium ion battery. Devices like a smartphone, camera, laptop, tablet, electric vehicle, etc., are almost always powered by a lithium ion battery. As information on lithium gradually increased, the medical industry has found an application, in the form of lithium carbonate, for it in the treatment of bipolar disorders. Various treatments for manic depression also usually feature lithium carbonate in them.
Meanwhile, another one of lithium properties which is rarely mentioned is its hygroscopic nature. Lithium chloride has a tendency to absorb moisture from the air which is vital for the smooth functioning of an air conditioner. Another lucrative opening for the Lithium Compounds Market has been the glass & ceramics segment. This segments attracts massive investment from the rapidly growing building & construction industry.
Asia-Pacific has dominated the Lithium Compounds Market so far due to the numerous manufacturing hubs located across the region in countries like China, Japan and Vietnam. The North America market follows it closely behind. The Lithium Compounds Market expects Asia-Pacific dominance to continue well into the future.
Segmentations & Key Players involved in the Lithium Compounds Market
According to IndustryARC findings, the Lithium Compounds Market can be broken down into various segmentations on the basis of –
Derivative: Hydrides, Fluorides, Chlorides, Bromides, Iodides, Oxides, Carbonates and Others.
Application: Rechargeable & Non-Rechargeable Batteries, Air Conditioning, Industrial Drying System, Glass & Ceramics, Metallurgy, Polymers and Others.
Industry Vertical: Aerospace and Defense, Automobile, Energy, Chemicals, Engineering Machinery, Pharmaceuticals and Others.
The key players involved in the Lithium Compounds Market according to IndustryARC are as follows:
- Dana Water Heaters & Coolers Factory(L.L.C.)
- Dongying Shengte International Trade Co., Ltd.
- Dongying Xiaoyu Abrasive Co., Ltd.
- Baoji Guokang Bio-Technology Co., Ltd.
- Bdh Lab & Scientific Equipment
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