LITHIUM CARBONATE MARKET ANALYSIS

Market Challenges And Opportunities

• Consumption of lithium carbonate based medicines decreases the symptoms of manic episodes such as irritability, anxiousness, loud/rapid speech, and aggressive behavior.
• The major factor driving the market is the increasing use of lithium carbonate in different industries such as electronics and electrical. Moreover, lithium carbonate is used in the form of batteries in portable electronic devices which is expected to drive growth of the market over the forecast period.
• Moreover, in ceramics, lithium carbonate is used for making glazes owing to its high temperatures which causes the glazes to melt. These applications are expected to boost demand for lithium carbonate during the forecast period.
• However, lithium carbonate also has a few side effects owing to its high dose which is expected to hamper the growth of the lithium carbonate market during the forecast period. Few of these side effects include drowsiness, dizziness, weight gain, tiredness, and mild shaking of hands among others.
• According to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development in June 2019, the number of newly completed residential buildings was about 900 thousand units in May 2014 which increased to 1200 thousand units in May 2019.