Market Challenges And Opportunities

Lithium hydroxide on being heated produces toxic fumes which act as potential restraint for the market growth. According to CMI analysis, the worldwide demand for lithium hydroxide is forecast to expand at a healthy rate in the foreseeable future.

Battery manufacturing and as an industrial lubricant

Lubricant grease application and the trend is expected to continue over the next few years. However, the emergence of nickel cobalt aluminum oxide (NCA) cathode use for power tool batteries and later transportation is expected to surpass the growth of lubricant grease application segment in the latter half of the forecast period. Rapidly growing power generation industry in Asia Pacific region, together with increasing establishment of manufacturing facilities are expected to drive demand for lithium hydroxide in the region.