Lithium Hydroxide Market Size in Asia Pacific To Showcase Significant Growth Via LIOH Industry Over 2019-2025
Category: #business  By Ashwin Naphade  Date: 2019-08-14
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Lithium Hydroxide Market Size in Asia Pacific To Showcase Significant Growth Via LIOH Industry Over 2019-2025

Asia Pacific is the fastest growing lithium hydroxide market and is predicted to evolve significantly over the forecasted years. Rapid industrialization in the region has expanded the LiOH requirement with increase in use of power tools and ceramics. Soaring solar industry is another prime reason for stimulating the LiOH industry. Improving economic conditions and spending capacity has raised the need for mobile phones and laptops, which will further impel market size.

North America is the largest developed lithium hydroxide market and is expected to witness the same during the forecasted years. Rising industrial and construction sector has boosted the product market in the region. Upsurge in consumption of energy storage systems and increasing awareness regarding using rechargeable batteries in various electronic devices will push the market. Also, setting up Tesla Gigafactory in the region is another key driving factor for lithium hydroxide market.

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LiOH is also used for removing impurities in metallurgical industries. Additionally, it is widely used in both non-rechargeable and rechargeable batteries which will boost lithium hydroxide market. Further applications include pharmaceuticals, aluminum production, air-conditioning units, polymers and cement.

Based on the end user industry, lithium hydroxide market is divided into consumer devices, energy storage, transportation and consumer electronics. Among these, transportation industry is likely to drive the market with new innovations done in electric cars and bikes. Also, consumer electronic & devices is anticipated to drive the product market over the forecasted years with rising applications in personal care, power tools, wearable devices, toys and cordless phones.

Rising industrializations has increased the demand for power tools which requires lithium hydroxide NCA cathode, thus propelling the industry size. Moreover, increased usage of electric vehicles is fueling consumption of lithium hydroxide. LiOH is extensively used in battery manufacturing and as an industrial lubricant. It is used as an energy storage and as a heat transfer medium in batteries. Lithium hydroxide market is also expected to rise with increasing use of LiOH in producing lubricants or greases which include lithium stearate. Upsurge in demand for grease in CV joints, household products and automotive applications will have a positive impact on the product demand.

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Global lithium hydroxide market is moderately consolidated owing to the presence of several multinational players globally. Several prominent leaders present in this industry are Tiangi, SQM, Albemarle, Leverton Clarke, Rockwood, FMC, Shangdong Ruifui, Haoxin Liyan, Brivo, Sichuan Yahua and Jiangxi Gangfeng.

 

Methodology used in Lithium Hydroxide Market Report –

Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

  • Definition and scope of research
  • Market dynamics, growth drivers and industry pitfalls
  • Regulatory and political guidelines for the industry
  • Demographics and statistical data

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:

  • Leadership figures such as CEOs, CSOs, VPs etc. in key companies
  • Supply-chain participants, distributors and domain experts
  • Key customers and B2B clients

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, Application, renewable energy and bio Application.

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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