The lithium hydroxide market is concentrated, and the degree of concentration is expected to decrease by 2023. An outlook of accelerating growth would provide opportunities to all market participants to grow. Market participants would do well to focus more on the opportunities on the demand side rather than getting overly impacted with the competitive dynamics. The accelerating growth momentum will be one of the contributing factors moderating the competitive intensity in the market during the forecast period.
Some of the key findings from our lithium hydroxide market forecast report are summarized below
Battery was the largest segment within the overall market in 2018 and will remain so in 2023. The battery segment would outperform the overall market as it will grow faster during the period 2019-2023. The lubricating greases and ceramics and glass would underperform the overall market as they are growing slower than the overall market.
To identify growth opportunities in the lithium hydroxide market, the global market has been segmented into regions growing faster than the overall market versus regions growing slower than the overall market in 2018-2023. APAC and North America are the regions which will grow faster than the overall market. Europe, MEA, and South America are the regions which will grow slower than the overall market.
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This report provides a detailed analysis of the market by application (battery, lubricating greases, ceramics and glass, and others) and geography (APAC, Europe, MEA, North America, and South America). The report analyzes the market’s competitive landscape and offers information on several lithium hydroxide manufacturers including Albemarle Corporation, International Lithium Corp., Livent, Orocobre Limited Pty Ltd, SQM S.A., and Tianqi Lithium Corporation.
Global lithium hydroxide industry overview
The lithium hydroxide dispersion technology is revolutionizing the grease manufacturing process by reducing the manufacturing time, energy consumption and water consumption. This technology is being preferred over conventional methods for manufacturing grease because of the low melting points, high mechanical strength, and excellent thermal resistance of lithium hydroxide. Moreover, as lithium hydroxide is waterproof, it can maintain viscosity for a long time. These factors are encouraging grease manufacturers to adopt lithium hydroxide dispersion technology to produce lithium and lithium complex greases based on a variety of base oils such as vegetable oils, esters, mineral oil, and polyalphaolefins (PAO). The increasing usage of lithium hydroxide in the grease manufacturing process is identified as a key trend that will boost market growth in the next five years.
The use of lithium-ion batteries in portable devices as secondary rechargeable batteries is increasing. This can be attributed to the lightweight nature and high energy-to-weight ratios, self-discharge, and slow charge loss properties of lithium-ion batteries. Hence, rechargeable lithium batteries are widely used in smartphones, laptops, power tools, medical devices, notebooks, digital cameras, and power banks. Lithium-ion batteries are preferred over nickel cadmium (NiCd) and nickel metal hydride (NiMH) batteries for use in medical devices because of its higher energy density. Moreover, lithium-ion batteries also facilitate the miniaturization of mobile electronics and medical devices without compromising on their power and performance. This will further boost the use of lithium-ion batteries in portable devices and drive lithium hydroxide market growth at a CAGR of over 13% during the period 2019-2023.
Top lithium hydroxide companies covered in this market research report
The global lithium hydroxide market is concentrated. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this lithium hydroxide market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading companies, including:
- Albemarle Corporation
- International Lithium Corp.
- Livent
- Orocobre Limited Pty Ltd
- SQM S.A.
- Tianqi Lithium Corporation
Lithium hydroxide market segmentation based on application
- Battery
- Lubricating greases
- Ceramics and glass
- Others
The battery segment will account for the highest lithium hydroxide market share because of its growing demand in the production of lithium-ion batteries. This report provides an accurate prediction of the contribution of all the segments to the growth of the lithium hydroxide market size.
Lithium hydroxide market segmentation based on geographic region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that the APAC region will account for the highest lithium hydroxide market share throughout the forecast period. The growth of the construction, automotive, healthcare, and electrical and electronics industries will contribute to lithium hydroxide market growth in this region.
Key highlights of the global lithium hydroxide market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the lithium hydroxide market during the next five years
- Precise estimation of the global lithium hydroxide market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the lithium hydroxide industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of lithium hydroxide companies
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