Technavio has announced the release of their research report on the
global lithium hydroxide market for the forecast period 2019-2023. This
global lithium hydroxide market analysis report segments the market by
application (battery, lubricating greases, ceramics and glass, and
others) and geography (APAC, Europe, MEA, North America, and South
America).
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Technavio has published a new market research report on the global lithium hydroxide market from 2019-2023. (Graphic: Business Wire)
Global lithium hydroxide market size will grow by almost 41.48 thousand
tons during 2019-2023, at a CAGR of more than 13%. Lithium
hydroxide-based greases are waterproof, maintain viscosity for a longer
period, and have low melting points. They also exhibit high mechanical
strength and good thermal resistance. These factors have increased the
demand for lithium-based greases which are developed from the new
lithium hydroxide dispersion technology. This method of producing grease
help manufacturers save energy, water, and time. Compared to the
conventional process, this is a single-step process for producing
lithium and lithium-complex greases. Hence, the increase in the use of
lithium-based greases will have a positive impact on the global lithium
hydroxide market during the forecast period.
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Increase in use of lithium-ion batteries in
portable devices
Miniaturization of electronic devices is leading to an increase in the
adoption of lithium-ion batteries in portable devices. Lithium-ion
batteries are widely used in smartphones, medical devices, power tools,
and other portable devices. These batteries have higher energy density
and discharge slowly. Therefore, the increasing demand for portable
devices will drive the growth of the global lithium hydroxide market
over the forecast period.
“The APAC region will witness a faster growth in the lithium
hydroxide market. Countries such as China, Japan, India, and Indonesia
are shifting their focus toward adopting EVs that run on lithium-ion
batteries. The high rate of industrialization in the US and Mexico has
fuelled the consumption of lithium hydroxide in the North American
region. Factors such as the thriving automobile industry and the rising
demand for EVs will drive the lithium hydroxide market globally,”
says an analyst at Technavio.
Many OEMs are launching EVs to strengthen their market position.
Recently, BMW AG announced they they’re adding the BMW X3 to their EV
portfolio. This is expected to increase the sales of EVs offered by the
company. Furthermore, countries such as the US are encouraging the sales
of EVs by offering federal Internal Revenue Service (IRS) tax credit to
buyers. The rise in the sales of EVs will increase the demand for
lithium hydroxide to produce lithium-ion batteries. Therefore, the
increased demand for EVs globally will fuel the growth of the lithium
hydroxide market.
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snapshot of the report for a more detailed overview of
the market and the segmentation covered in this report
This global lithium hydroxide market industry research report provides
an in-depth analysis of the major drivers, upcoming trends, and
challenges that will impact market growth over the forecast period. The
report analyzes the competitive landscape and offers details on several
lithium hydroxide manufacturers including –
- Albemarle Corporation
- International Lithium Corp.
- Livent
- Orocobre Limited Pty Ltd
- SQM S.A.
- Tianqi Lithium Corporation
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
Technavio’s report library consists of more than 10,000 reports covering
800 technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100 Fortune
500 companies.
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