Lithium Derivatives Market, Leading Players Updates, Industry Demand, Current and Future Plans by Forecast to 2027
Lithium Derivatives Market -
Overview
Lithium Derivatives market is surging exponentially mainly due
to one of its type Lithium ions. Great capacity to store energy makes Lithium
ions an ideal component for making rechargeable batteries and grid connected
storage. Emergence of electric vehicles that run on Lithium batteries, consumer
preference towards rechargeable batteries due to its high drain application
coupled with the increased environmental and economic benefits these batteries
provide are some of the driving forces increasing the uptake of Lithium
batteries that eventually drive growth of Lithium Derivatives market.
Simultaneously, other properties of Lithium Derivatives such as viscosity glass
modifiers in the glass melts, high coefficient of thermal expansion, and higher
electrochemical potential as compared to other catalytic metal; these
derivatives find extensive application in manufacturing of lubricants, Glass
& Ceramic items, Polymers and Aluminium Smelting & various alloys.
Attributing to the wide uptake & range of application
industries; the market of Lithium Derivatives enjoys a great market traction on
the global platform. Furthermore, contribution from the burgeoning consumer
electronics industry owing to the consumer preference & adoption of
portable devices coupled with the expanding uptake of electric vehicles.
Factors as such are expected to provide impetus to the market growth during the
review period.
Recognizing the potential of the market to grow further in the
years to come, Market Research Future (MRFR) has published a detailed study
report giving out the market forecast for the period 2017 – 2023. In its
analysis, MRFR asserts that the global Lithium Derivatives
Market is expected to reach up to USD 2,074.2 million by 2023 growing
at 5.80% CAGR during review period of 2017-2023.
On the other hand, factors such as high initial investment cost & lack of
expertise in the lithium extraction activities are expected to restrict the
market growth during the assessment period.
Lithium Derivatives Global Market - Competitive Analysis
The global Lithium Derivatives market appears to be highly
competitive and diversified with the presence of many well established players
having regional and global presence. Innovation, Product Launch, M&A
activities along with the brand reinforcement remain the key trends for leading
players in the smart camera market.
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https://www.marketresearchfuture.com/reports/lithium-derivatives-market-3891
Industry/ Innovation/ Related News:
March 9, 2018 - Albemarle Corporation (US), a leading global
producer of leader in the production of lithium and its derivatives, announced
receiving of approval from CORFO (Chile’s Economic Development Agency) for
increasing the company’s lithium quota consequently increasing its lithium
production in Chile. According to the approval, Albemarle can increase its
lithium production as much as 145,000 metric tons annually through 2043.
Worldwide Lithium Derivatives Market - Segment
Global Lithium Derivatives Market is segmented in to 3 Key
dynamics for an easy grasp and enhanced understanding;
By Derivative Types : Comprises - Lithium Carbonate, Lithium
Concentrate, Lithium Hydroxide, Lithium Metal, Lithium Chloride, Butyl Lithium,
and others.
By Applications : Lubricants, Batteries, Medicals, Glass &
Ceramic, Metallurgic, Alloys, Polymers and Aluminium Smelting and others.
By Regions : North America, Europe, APAC and Rest of the World.
Worldwide Lithium Derivatives Market - Regional Analysis
Asia Pacific accounted for the largest market for Lithium
Derivatives which in 2016, occupied 53% of the global market shares. China,
among other APAC countries, being the largest producer for the lithium-ion
batteries for the electric vehicle. Other factors adding up to the china market
growth include; economic growth, availability of low cost man power, presence
of several small scale lithium derivative producers coupled with the presence
of huge automotive manufacturing base.
On the other hand, North America is another lucrative market for
lithium derivatives, owing to the presence of major markets players in US &
Canada.
Europe market for lithium derivatives growing steadily, is
likely to perceiver relatively a faster growth in the next 7 years attributing
to the greater adoption of electric vehicles.
Albemarle Corporation (U.S.), FMC Corporation (US), SQM (Chile),
Jiangxi Ganfeng Lithium Co.Ltd. (China), Sichuan Tianqi Lithium Industries Inc.
(China) and General Lithium are some of the prominent players profiled in MRFR
Analysis and are at the forefront of competition in the Global Lithium
Derivatives Market.
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About Market Research Future:
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the complexity of various industries through our Cooked Research Report (CRR),
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MRFR team have supreme objective to provide the optimum quality
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studies by products, services, technologies, applications, end users, and
market players for global, regional, and country level market segments, enable
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most important questions.
In order to stay updated with technology and work process of the
industry, MRFR often plans & conducts meet with the industry experts and
industrial visits for its research analyst members.
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