is the first member of the alkali metal family. It is the lightest of all the metals and the least dense of all solids. The major use of lithium compounds is in rechargeable and non-rechargeable batteries. It is used in wide range of products, including heat-resistant glass, ceramics, and high strength/low weight alloys which are principally utilized in aircraft. Compounds of lithium have also been widely in used in the medical industry to treat bipolar disorder.
The Lithium Compounds market
is driven by various end-user industries such as li-ion batteries, glass & ceramics and others. The increase in use of portable devices using li-ion batteries, increasing focus of consumer & government agencies towards environmental concerns and converting from fuel-burning cars to electrical vehicles are driving the growth of the market.
Lithium compound’s global demand could possibly rise to about XX tons by 2021. Lithium Carbonate is one such compound from which lithium is extracted and it has a market of xx tons being produced every year. Lithium chloride is one of the most hygroscopic constituents used in air conditioning, while Lithium stearate is used as an all-purpose and high temperature lubricant. Lithium carbonate is used in drugs to treat manic depression. Lithium hydride is used as a means of storing hydrogen which is used as a fuel.
The market is divided into by derivatives, by application, by end user and by geography. Non-rechargeable batteries include coin or cylindrical batteries used in calculators and digital cameras. Lithium batteries have a higher energy density compared to alkaline batteries and are of low weight. Rechargeable batteries are used in powering cell phones, laptops, other hand held electronic devices and power tools. The advantages of the lithium secondary battery are its higher energy density and lighter weight compared to nickel-cadmium and nickel-metal hydride batteries.
Asia-Pacific is the global leader in the consumption of lithium compounds, and is expected to dominate in the coming years. China, Japan, and South Korea are the key countries in this region. The Asia-Pacific market is expected to grow at the highest CAGR from 2016 to 2021. North America is an emerging market for lithium compounds, due to the increasing demand from end-user industries. This region constitutes the second-largest market for lithium compounds consumption in 2015.
Sample Companies Profiled in this Report are:
- SQM (Chile)
- Shanghai China Lithium Industrial Co., Ltd. (China)
- Albemarle Corporation (U.S.)
- Sichuan Tianqui lithium (China)
- FMC Corporation (U.S.)