LITHIUM CARBONATE MARKET ANALYSIS

Lithium Carbonate MarketSize and Trends

Market Dynamics:

• Lithium carbonate is used in drugs for curing bipolar disorders. Consumption of lithium carbonate based medicines decreases the symptoms of manic episodes such as irritability, anxiousness, loud/rapid speech, and aggressive behavior.
• 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.

Market Outlook:

• Among grade, the battery grade segment is expected to gain significant market share over the forecast period owing to increasing demand from the electronics industry. According to the India Brand Equity Foundation’s data on Electronic and Computer Software Industry and Exports, published in December 2019, the revenue generated from the export of consumer electronics from India reached US$ 148.9 Mn between April and July 2019. Moreover, as per the same source, the top export destinations from India for consumer electronics included U.S., U.K., Singapore, Israel, and Belgium among others.
• Therefore, increasing demand for consumer electronics is expected to drive the demand for batteries. This is a major factor for the growth of the global lithium carbonate market.
• Lithium carbonate is used for manufacturing cement and aluminum. For instance, lithium carbonate is mainly used as an accelerator for setting mortar and cement at a faster rate in case of high alumina based cement. The increasing number of construction activities is expected to be another factor driving demand for lithium carbonate. 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.