Global Lithium Compound Market Report, Price Trends, Demand and Business Opportunities 2024

NEW YORK - Feb. 17, 2020 - PRLog -- According to a new research report by IMARC Group, titled "Lithium Compound Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global lithium compound market reached a volume of 278,735 Tons in 2018. The report further anticipates the market to reach a volume of 420,658 Tons by 2024, expanding at a CAGR of 7.1% over the forecast period. Lithium is a soft, silvery-white alkali metal which occurs in compounds such as petalite and spodumene. It is found in small amounts in nearly all igneous rocks and in the waters of a number of mineral springs.

Global Lithium Compound Market Drivers/Constraints:

Compounds of lithium are used for making enamels, ceramics, glass and lubricants for high temperature applications. As these products are further used in construction activities, the investments in infrastructure developments, renovation of buildings and new housing projects are projected to fuel the growth of global lithium compound market.

Lithium compounds are utilized in rechargeable batteries, cooling systems for nuclear reactors, armour plating, specialty glasses, bicycle frames, aircrafts, etc. The continuous growth in these segments has boosted the demand for lithium compound worldwide.

The growing usage of lithium-ion batteries in portable electronic devices including cameras, watches, smartphones, electric vehicles and pacemakers is further boosting the growth of the market.

The lithium compounds can harm the kidneys and affect a person's mental health. This is the major reason hindering the growth of the market. Moreover, the high cost of lithium batteries also acts as a major deterrent.

Buy full report with table of contents: https://www.imarcgroup.com/lithium-compound-market

Insights on Market Segmentation:

Breakup by Type

1. Lithium Carbonate

2. Lithium Hydroxide

3. Lithium Concentrate

4. Lithium Metal

5. Lithium Chloride

6. Butyllithium

7. Other Lithium Compound

Breakup by End-Use

1. Batteries

2. Glass and Glass Ceramics

3. Automotive Parts

4. Greases

5. Metallurgy

6. Polymer

7. Air Treatment

8. Others

Breakup by Region

1. Asia Pacific

2. North America

3. Europe

4. Middle East and Africa

5. Latin America

Competitive Landscape:

The global lithium compound market is characterised with the presence of a number of both local and international players who compete in terms of prices and quality. Some of the leading players operating in the market are:

SQM
FMC Corporation
Orocobre Limited
Lithium Americas Corp
Neometals Ltd

Browse related reports:

global malic acid market: https://www.imarcgroup.com/malic-acid-technical-material-market-report

Silicones Market Report: https://www.imarcgroup.com/silicones-market

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