PUNE, India, February 17, 2016 /PRNewswire/ --
The report "Lithium Compounds Market by Application (Li-ion Batteries, Glass & Ceramics, Medical, Lubricants, Metallurgy, Polymers), by Derivatives (Lithium Carbonate, Lithium Hydroxide, Lithium Metal, Butyl-Lithium) & by Region - Global Forecasts to 2020", published by MarketsandMarkets, The global market is projected to reach USD 5.87 Billion by 2020, at a CAGR of 13.22% between 2015 and 2020. The base year considered for the study is 2014 and forecast period is 2015 to 2020.
Browse 537 market data Tables and 56 Figures spread through 337 Pages and in-depth TOC on "Lithium Compounds Market"
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Li-ion batteries is the largest application segment
Li-ion batteries are the largest application for lithium compounds, in terms of value and volume. The demand for li-ion batteries is growing in countries such as China, India, South Korea, Brazil, and Czech Republic for new generation energy electronic devices like cameras, high performance portable computing devices, and electric vehicles. This in turn is driving the growth of lithium batteries.
Glass & ceramics is the second-largest segment and is projected to register significant growth in the coming years; driven by huge investments in new infrastructure developments, new housing projects, and renovation of non-residential buildings in the U.S., China, India, and the U.K.
The lithium hydroxide segment is the fastest-growing derivative, by volume
Lithium hydroxide is growing at the highest CAGR in terms of volume, from 2015-2020. This derivative is mainly used in industrial lubricant, active cathode in batteries, and others. Also, due to better properties than other concentrates, it is mostly preferred for new battery technologies.
Asia-Pacific is the largest geographical market segment
Asia-Pacific is the largest market for the Lithium Compounds Market. The rising demand for new energy storage application in vehicles, grid connected energy storage, and high requirements of consumer gadgets are expected to change the market dynamics.
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North America is an emerging market for lithium compounds, due to the increasing demand from end-user industries. This region constitutes the second-largest market for lithium compounds consumption in 2014.
An in-depth market share analysis, in terms of revenue, of the top companies is also included in the report. These numbers are arrived at based on key facts, annual financial information from SEC filings, annual reports, and interviews with industry experts, key opinion leaders such as CEOs, directors, and marketing executives. Some of the major market players operating in this market are SQM (Chile), Albemarle Corporation (U.S.), FMC (U.S.), Sichuan Tianqui lithium (China), and Jiangxi Ganfeng Lithium Co., Ltd (China) are the key players actively present in the lithium compounds market.
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