LITHIUM HYDRIDE MARKET ANALYSIS

Regional Analysis

Market Outlook

According to global lithium hydride market analysis, North America is projected to exhibit significant growth in the market in 2017. Owing to growing battery storage sector in the region, it is expected to retain its position over the forecast period. According to U.S. Energy Information Administration (EIA), in the U.S., lithium ion accounted for around 80% of the installed power and energy capacity of large-scale battery storage in operation, in 2016.

Furthermore, the growing chemical industry in the U.S. is propelling growth of the lithium hydride market. According to SelectUSA, the government-wide program in the U.S. established to facilitate business investment states that, the chemical industry is one of the largest manufacturing industries in the U.S. and was one of the top exporting sectors accounting for around 15% of chemical shipments globally in 2016.

Asia Pacific is fastest growing region in the global lithium hydride market over the forecast period. This is attributed to the growing demand for lithium hydride in the emerging economies of the region for advanced energy storage (AES). For instance, The International Energy Agency (IEA) estimates that Energy storage deployments in emerging markets worldwide is expected to grow by over 40% annually in the following decade, adding around 80 GW of new storage capacity to the estimated 2 GW existing today.

Additionally, lithium hydride is used in the manufacturing of electronic tubes and ceramics. Growing electronics industry in turn, is expected to propel growth of the market in Asia Pacific. For instance, according to India Brand Equity Foundation (IBEF), electronics is one of the fastest-growing markets in the world. The electronics market in India was valued at US$ 100 billion in 2016 and is expected to reach US$ 400 billion by 2020, exhibiting a CAGR of 41.4% over the forecast period.