LONDON, March 1, 2016 /PRNewswire/ -- Global lithium compounds market is driven by increasing usage of portable devices
The global lithium compounds market is projected to reach USD 5.87 billion by 2020, at a CAGR of 13.22% between 2015 and 2020. The lithium compounds market is driven by various end user industries such as li-ion batteries, glass & ceramics and others. Also, factors such as increase in use of portable devices using li-ion batteries, switch from fuel-burning cars to electric vehicles & increasing focus of consumer & government agencies towards environmental concerns are driving the growth of the market.
Li-ion batteries is the largest application segment
The use of lithium compounds is increasing across applications such as li-ion batteries, glass & ceramics, medical, and others. With the growing demand for lithium compounds in end user industries, its consumption is also expected to rise between 2015 and 2020.
Asia-Pacific the largest geographical segment
Asia-Pacific is the global leader in the consumption of lithium compounds, and is expected to dominate in the coming years. China, Japan, and South Korea are the key countries in this region. The Asia-Pacific market is expected to grow at the highest CAGR from 2015 to 2020.
Break-up of profile of primary participants for the report:
- By Company - Tier 1 – 35 %, Tier 2 – 30% and Tier 3 – 35%
- By Designation – C-level – 25%, Director-Level – 30%, Others – 45%
- By Region – North America - 11%, Europe – 33%, Asia-Pacific – 45%, RoW – 11%
This study estimates the market value for lithium compounds during the forecast period (2015 to 2020). Major countries covered in this report include China, Japan, South Korea, Germany, France, the U.K., Canada, Mexico, and the U.S. Similarly, the report is further is classifies on basis of derivatives & end use.
Further, the report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as SQM (Chile), Albemarle Corporation (U.S.), FMC (U.S.), Sichuan Tianqui lithium (China) & Jiangxi Ganfeng Lithium Co., Ltd (China) are the key players actively present in the lithium compounds market.
Reasons to buy this report:
This report covers the following key aspects:
- What will be the market size by 2020 and what will be the growth rate
- What are the key market trends
- What is driving this market
- What are the challenges that impact market growth
- Who are the key players in this market
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