The lithium compounds market is estimated to be valued at USD 7.73 Bn in 2024 and, growing at a compound annual growth rate (CAGR) of 13.4% from 2024 to 2031. Lithium is a key component in lithium-ion batteries that power technological devices and electric vehicles. The increasing demand for smart devices and green transportation has been driving the need for lithium compounds. Lithium carbonate, lithium hydroxide, and lithium chloride are some of the major lithium compounds consumed in various end-use industries including electronics, automotive, power, medical, and industrial applications. The global lithium compounds market has witnessed significant growth over the past few years and is estimated to grow at an exponential rate during the forecast period owing to rapid technological advancements, growing environmental concerns, and shifting preference towards sustainable energy solutions.
Market Dynamics:
The growth of the global lithium compounds market is propelled by the increasing demand from the lithium-ion battery sector. The increasing sales of electric vehicles and focus on developing advanced energy storage solutions is expected to boost the consumption of lithium compounds. However, issues related to lithium resource availability and price volatility may hamper the market growth. On the other hand, increasing R&D in metal recycling from spent batteries and focus on developing alternatives to lithium-ion batteries present significant opportunities for market expansion.
Key Features of the Study:
- This report provides an in-depth analysis of the global lithium compounds market, and provides market size (US$ Bn & KT) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global lithium compounds market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include (Albemarle Corporation, SQM S.A., FMC Corporation, Jiangxi Ganfeng Lithium Co., Ltd., LITHIUM AMERICAS, Nemaska Lithium, Livent Corporation, Orocobre Limited Group, Galaxy Resources Limited, Neometals Ltd)
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global lithium compounds market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global lithium compounds market
Market Segmentation
- By Compound:
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- Lithium Carbonate
- Lithium Hydroxide
- Lithium Concentrate
- Lithium Metal
- Butyl Lithium
- Lithium Chloride
- Lithium Bromide
- Lithium Iodide
- Lithium Oxide
- Others (Lithium Chromate, etc.)
- By Application:
-
- Li-ion Batteries
- Cement & Concrete
- Metallurgy
- Lubricants
- Glass & Ceramics
- Polymers
- Specialty Inorganics
- Others (Medicines, etc.)
- By End-use Industry:
-
- Aerospace and Defence
- Automotive
- Oil and Gas
- Energy, Building & Construction
- Chemical Industry
- Others (Healthcare and Medical Industry, etc.)
- By Regional:
-
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
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- Lithium Americas Corp
- Albemarle Corporation
- Neometals Ltd
- FMC Corporation
- Sociedad Química y Minera de Chile, Livent Corporation
- Tianqi Lithium Industries Inc.
- Nemaska Lithium Inc.
- Neo Lithium Corporation
- Millennial Lithium Corporation
- Galaxy Resources Limited
- PACIFIC ORGANICS PVT LTD.
- Satyam Pharma-Chem Pvt. Ltd.
- Otto Chemie Pvt. Ltd.
- Sontara Organo Industries
- Mody Chemi Pharma Ltd
- Vizag chemical
- Ennore India Chemicals
- Zama chemical
