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Global Lithium Compound Market Size, Trends, Forecast: By Type: Lithium Carbonate, Lithium Hydroxide, Lithium Metal, Lithium Chloride, Butyllithium, Others; By End Use: Batteries, Glass and Glass Ceramics, Automotive Parts, Greases, Metallurgy, Polymer, Air Treatment, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Lithium Compound Market Outlook
The global lithium compound market size reached a volume of 3,72,241.84 tons in the year 2023. The market is further expected to grow at a CAGR of 7.5% between 2024 and 2032 to reach a volume of 7,13,676.65 tons by 2032.
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The global lithium compound market is driven by the increasing use of lithium-ion batteries in portable electronic devices. The Asia Pacific region is the leading regional market for lithium compound, accounting for the majority of the market share.
Market Segmentation
Lithium is referred to as a soft, silvery-white alkali metal, which occurs in compounds like petalite and spodumene. Lithium compounds are available in small amounts in mostly all igneous rocks and the water of several mineral springs. It is used in extensive applications varying from the production of plastics and synthetic rubber to textile dyes.
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The market is divided on the basis of type into:
- Lithium Carbonate
- Lithium Hydroxide
- Lithium Concentrate
- Lithium Metal
- Lithium Chloride
- Butyllithium
- Others
Lithium carbonate is the most popular type of the compound on account of the huge demand for the product as it is used in the production of ceramics and glasses, battery cathodes, and solid-state carbon dioxide detectors.
On the basis of end use, the industry is segmented into:
- Batteries
- Glass and Glass Ceramics
- Automotive Parts
- Greases
- Metallurgy
- Polymer
- Air Treatment
- Others
Out of these, the report finds that batteries exhibit the largest end-use segment for the product since lithium batteries can store a significant amount of power.
The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Market Analysis
The global lithium compound market is driven by the renovation of buildings, new housing projects, and investments in infrastructure developments. Lithium compound is used in the production of ceramics, enamels, glass, and lubricants for high-temperature applications, and these products further aid the construction industry, which, as a result, are propelling the market growth of the product. The market is further aided by the continuous growth in the segments, such as rechargeable batteries, armour plating, cooling systems for nuclear reactors, bicycle frames, aircraft, specialty glasses, and others. In addition to this, the increasing use of lithium-ion batteries in portable electronic devices, such as smartphones, cameras, watches, electric vehicles, and pacemakers, is further spurring the growth of the market.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global lithium compound market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Albemarle Corporation
- SQM SA
- FMC Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End Use |
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| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Lithium Compound Market Analysis
8.1 Key Industry Highlights
8.2 Global Lithium Compound Historical Market (2018-2023)
8.3 Global Lithium Compound Market Forecast (2024-2032)
8.4 Global Lithium Compound Market by Type
8.4.1 Lithium Carbonate
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lithium Hydroxide
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Lithium Concentrate
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Lithium Metal
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Lithium Chloride
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Butyllithium
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Lithium Compound Market by End Use
8.5.1 Batteries
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Glass and Glass Ceramics
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Automotive Parts
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Greases
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Metallurgy
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Polymer
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Air Treatment
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.5.8 Others
8.6 Global Lithium Compound Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Lithium Compound Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Lithium Compound Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Lithium Compound Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Lithium Compound Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Lithium Compound Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
16.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
17 Manufacturing Process
17.1 Overview
17.2 Detailed Process Flow
17.3 Operation Involved
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Albemarle Corporation
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 SQM S.A.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 FMC Corporation
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Lithium Compound Market: Key Industry Highlights, 2018 and 2032
2. Global Lithium Compound Historical Market: Breakup by Type (Tons), 2018-2023
3. Global Lithium Compound Market Forecast: Breakup by Type (Tons), 2024-2032
4. Global Lithium Compound Historical Market: Breakup by End Use (Tons), 2018-2023
5. Global Lithium Compound Market Forecast: Breakup by End Use (Tons), 2024-2032
6. Global Lithium Compound Historical Market: Breakup by Region (Tons), 2018-2023
7. Global Lithium Compound Market Forecast: Breakup by Region (Tons), 2024-2032
8. North America Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2023
9. North America Lithium Compound Market Forecast: Breakup by Country (Tons), 2024-2032
10. Europe Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2023
11. Europe Lithium Compound Market Forecast: Breakup by Country (Tons), 2024-2032
12. Asia Pacific Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2023
13. Asia Pacific Lithium Compound Market Forecast: Breakup by Country (Tons), 2024-2032
14. Latin America Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2023
15. Latin America Lithium Compound Market Forecast: Breakup by Country (Tons), 2024-2032
16. Middle East and Africa Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2023
17. Middle East and Africa Lithium Compound Market Forecast: Breakup by Country (Tons), 2024-2032
18. North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
19. Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
20. Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
21. Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
22. Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
23. Global Lithium Compound Market Structure
Key Questions Answered in the Report
In 2023, the global lithium compound market attained a volume of nearly 3,72,241.84 tons.
The market is projected to grow at a CAGR of 7.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about 7,13,676.65 tons by 2032.
The major drivers of the market are the rising demand for lithium compounds in developing regions, increasing utilisation of lithium-ion batteries in portable electronic devices, the growing construction sector, and the increasing demand for electric vehicles.
The key trends guiding the growth of the market include growing technological advancements and increased investment in research and development activities by the key players.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Lithium carbonate, lithium hydroxide, lithium concentrate, lithium metal, lithium chloride, and butyllithium, among others, are the different lithium compound types in the market.
The various end uses of lithium compounds are batteries, glass and glass ceramics, automotive parts, greases, metallurgy, polymer, and air treatment, among others.
The major players in the global lithium compound market are Albemarle Corporation, SQM S.A., and FMC Corporation, among others.
Analyst Review
The global lithium compound market attained a volume of 3,72,241.84 tons in 2023, driven by increased product demand from developing regions and the growing preference for lithium-ion batteries in portable electronic devices. Aided by technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.5%. The industry is projected to reach 7,13,676.65 tons by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the lithium carbonate segment dominates the overall industry. On the basis of end-uses, the industry is divided into batteries, glass and glass ceramics, automotive parts, greases, metallurgy, polymer, and air treatment, among others, where the batteries segment accounts for the leading share in the industry. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the industry. The key players in the above industry include Albemarle Corporation, SQM SA, and FMC Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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