About Lithium Chloride
Lithium chloride is the feed material in the electrolytic production of lithium metal, serves as the electrolyte in the re-processing of spent nuclear fuel and is employed as a flux in aluminum brazing. Lithium chloride is characterized by a relatively low melting point and high ionic conductivity which render it a suitable component in molten salt electrolytes for thermal batteries. Lithium chloride is an important ionic compound that finds use in a variety of industrial applications this implies the lucrative growth of lithium chloride market in the forecast period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.5% |
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market.The Vendors having a strong hold in the market are SQM S.A., Tianqi Lithium Australia Pty Ltd, FMC Corporation, and Albemarle Corporation. Analyst at AMA Research estimates that North American and Asian Vendors will contribute the maximum growth to Global Lithium Chloride market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
SQM S.A. (Chile), Tianqi Lithium Australia Pty Ltd (Australia), FMC Corporation (United States), Albemarle Corporation (United States), Ganfeng Lithium Co. Ltd. (China), Leverton-Clarke Speciality Chemicals (United Kingdom), American Elements (United States), Harshil Industries (India), Shanghai Danfan Network Science&Technology Co., Ltd. (China) and SICHUAN BRIVO LITHIUM MATERIALS CO., LTD. (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Jiangxi Dongpeng New Materials Co., Ltd (China).
Segmentation Overview
AMA Research has segmented the market of Global Lithium Chloride market by Type (Lithium Chloride Hydrate and Anhydrous Lithium Chloride), Application (Lithium Metal, Aluminium Brazing, Thermal Batteries and Others) and Region.
On the basis of geography, the market of Lithium Chloride has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use Verticals, the sub-segment i.e. Medical will boost the Lithium Chloride market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Lithium-Ion Batteries for Electric Vehicles
Market Growth Drivers:
Increase in the Demand of Lithium Chloride in Medical and Pharmaceutical Industries and Rising Production and Application of Lithium-Ion Batteries in Emerging Economies
Challenges:
Careless Disposal of Lithium-Ion Batteries Affects the Environment
Restraints:
High Cost
Opportunities:
Increasing Use in Commercial, and Industrial Sector in Developing Countries
Market Leaders and their expansionary development strategies
In September 2020, Albemarle Corporation, which is a worldwide specialty chemicals leader, announced that it has been chosen by the United States Department of Energy (DOE) as a crucial partner for two lithium research projects spanning three years under a Battery Manufacturing Lab Call. On the company's authorized initiatives, Albemarle will collaborate with two DOE laboratories.
In June 2022, Albemarle Corporation, which is one of the world's major lithium producers and a Chilean company for more than 40 years, launched its third chemical conversion facility, La Negra III/IV, in Antofagasta as one of the most advanced in Latin America. The plant's new technology is intended to increase lithium output while also reducing the company's low freshwater usage in this process, demonstrating a strong commitment to sustainable manufacturing.
Key Target Audience
Lithium Chloride Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.