North America Lithium Chemical Market, Type (Lithium Carbonate, Lithium Chloride, Lithium Hydroxide, Lithium Fluoride, Lithium Bromide and Others), Grade (Industrial Grade, Battery Grade and Others), Application (Battery, Lubricant, Aluminum Smelting and Alloy, Air Treatment, Medical, Glass and Ceramics, Metallurgy, Polymer, Greases and Others), End-User (Industrial, Electronics and Electricals, Transportation, Medical, Power Plants and Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Lithium Chemical Market
The lithium chemical market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 6.82% in the above-mentioned forecast period.
Lithium is basically a silvery white, soft substance that tends to represent the first alkaline substance in the periodic table. These products are basically compounds of metals such as carbonate, hydroxide, butyl, bromide and chloride and are hugely reactive because of its electron configuration. These chemicals display optimal fluxing and catalytic properties and high thermal expansion coefficient and electrochemical potential among others.
The factors such as increase in demand for rechargeable batteries from the electric vehicle sector consisting of the battery-powered vehicles, plug-in and hybrid vehicles and surge in demand for portable equipment powered by li-ion batteries is the root cause fueling up the lithium chemical market growth rate. Additionally, the rise in environmental awareness among consumers and regulatory bodies along with change in preferences from fuel-powered to electrical vehicles among consumers and increase in the usage of the chemical in various applications in digital cameras, laptops, calculators and cellphones replacing alkaline batteries owning to their replacing alkaline batteries will also directly and positively impact the growth rate of the lithium chemical market. The depletion of earth metals and rise in demand for recycled products and materials will also foster the market growth. However, lack of recharging infrastructure along with the high operational costs derail growth of the lithium chemical market.
Furthermore, rise in need for battery-operated industrial and construction equipment pose as a major challenge to the growth of the lithium chemical market. Concerns regarding the socio-environmental impact of lithium extraction and product safety pose as challenge for the market’s growth.
This lithium chemical market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on lithium chemical market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Lithium Chemical Market Scope and Market Size
The lithium chemical market is segmented on the basis of type, grade, application and end-user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the lithium chemical market is segmented into lithium carbonate, lithium chloride, lithium hydroxide, lithium fluoride, lithium bromide and others.
- On the basis of grade, the lithium chemical market is segmented into industrial grade, battery grade and others.
- On the basis of application, the lithium chemical market is segmented into battery, lubricant, aluminium smelting and alloy, air treatment, medical, glass andceramics, metallurgy, polymer, greases and others.
- On the basis of end-user, the lithium chemical market is segmented into industrial, electronics and electricals, transportation, medical, power plants and others.
Lithium Chemical Market Country Level Analysis
The lithium chemical market is segmented on the basis of type, grade, application and end-user.
The countries covered in the lithium chemical market report are U.S., Canada and Mexico in North America.
The country section of the lithium chemical market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Lithium Chemical Market Share Analysis
The lithium chemical market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to lithium chemical market.
The major players covered in the lithium chemical market report are Albemarle Corporation, Livent, Galaxy Resources Limited, SQM S.A., Orocobre Limited Pty Ltd, SICHUAN BRIVO LITHIUM MATERIALS CO., LTD., Lithium Americas Corp., Pilbara Minerals, Neometals Ltd, Millennial Lithium, Tianqi Lithium Industry Co., Ltd., Nemaska Lithium, Ganfeng Lithium Co, Ltd., Talison Lithium Pty Ltd, Mody Chemi-Pharma Limited, SOVEMA GROUP S.p.A., Altura Mining, Infinity Lithium Corporation Limited, ProChem, Inc International and Critical Elements Lithium Corporation among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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