Lithium Market size is Projected To Reach USD 6187.8 Million By 2027 At A CAGR of 8.1% - Valuates Reports

News provided by

Valuates Reports

16 Dec, 2021, 14:00 GMT

BANGALORE, India, Dec. 16, 2021 /PRNewswire/ -- Lithium Market is Segmented By Type - Anhydrous Lithium Hydroxide, Lithium Niobate, Lithium Tantalate, By Application - Industrial, Manufacturing. Global Opportunity Analysis and Industry Forecast 2021 - 2027. It is published in Valuates Reports under the  Chemicals Industry Category.

The global Lithium market size is projected to reach USD 6187.8 million by 2027, from USD 3483.5 million in 2020, at a CAGR of 8.1% during 2021-2027.

The Major Factor Driving The Growth Of The Lithium Market Are

The global lithium market is predicted to expand in the future as lithium-ion battery costs decline, energy storage systems expand, and the electric vehicle market expands.

The market for lithium-ion batteries is expected to be driven by the electrification of automobiles, which is expected to attract a considerable volume of lithium-ion batteries over the forecast period. This in turn is expected to drive the growth of the lithium market. Lithium has become widely used in EV batteries as a result of the advancement of EV technology, as well as worries about increased CO2 pollution from combustion engines and rising fuel costs.

Increasing demand for lithium-ion batteries from portable consumer electronics, as well as increased demand for lithium from the glass-making industry to improve glass melt rate and lower viscosity, are likely to fuel the lithium market growth throughout the forecast period.

Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Othe-2L483/Lithium_Market

TRENDS INFLUENCING THE GROWTH OF LITHIUM MARKET

Lithium-ion battery demand is increasing at a rapid pace, owing in part to rising global demand for electric vehicles, mobile devices, and grid storage. These are significant markets to us because they aim to improve our quality of life by reducing air pollution, encouraging electronic mobility, enabling portable medical equipment, and advancing renewable energy. Lithium is at the center of it all. This has switched automakers' focus to producing electric vehicles, which is expected to boost demand for lithium and related components. Government incentives for electric vehicles, as well as investments in the sector, are projected to accelerate the market's growth. This shift in trend towards electrification of vehicles is expected to drive the lithium market.

The deployment of energy storage systems based on lithium-ion batteries is expanding in industrialized countries around the world, fuelling the lithium market expansion. Lithium has distinct properties that are difficult to duplicate using other battery materials. Lithium-ion batteries, for example, have a higher energy density (the amount of energy stored per unit volume or mass) and specific power (the ability to deliver a burst of power) than rival battery technologies. In other words, lithium is a light metal that can store a lot of energy. As a result, it has become the preferred battery technology for powering our future.

The Lithium-ion market is predicted to rise due to increased application in various end-user industries. Many of the things we use on a daily basis contain lithium compounds. Lithium carbonate and lithium hydroxide are required for the lithium-ion batteries used in our smartphones, tablets, and notebook computers, as well as in electric vehicles. Lithium niobate is widely utilized in the telecommunications industry, including in mobile phones and optical modulators, for example. It is the preferred material for making surface acoustic wave devices. Lithium Tantalate is a material with unique features that can be used in electro-optical and acoustic-optical applications. Surface acoustic wave devices, bulk acoustic wave devices, piezoelectric transducers, and verify piezoelectric sensors are examples of these devices.

Browse The Table Of Contents And List Of Figures At https://reports.valuates.com/reports/QYRE-Othe-2L483/global-lithium

LITHIUM MARKET SHARE ANALYSIS

Asia-Pacific is expected to be the most lucrative region during the forecast period. This is owing to China's, Japan's, South Korea's, and India's fast-developing automobile, glass, and consumer goods industries. Over the projected period, the market is expected to be driven by ongoing expenditures in the region to enhance the battery technology industry.

Inquire For Customization: https://reports.valuates.com/request/customisation/QYRE-Othe-2L483/Lithium_Market

Lithium Market By Application

  • Albemarle
  • SQM
  • FMC
  • Orocobre

Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and production data of each region and country for the period 2016-2027. This information derived through comprehensive research will help the reader to get familiar with the potential value of the investment in a particular region. North America, Europe, China and Japan are the major regions studied in the research report.

Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Othe-2L483/Lithium_Market

Buy Now for Single User + Covid-19 Impact :

https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-2L483&lic=single-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS :

Click Here To See Related Reports on Lithium Market

About Us:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

Contact Us:

Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg

Also from this source

Semiconductor Plating Chemicals Market to Hit USD 1.73 Billion by 2031, Driven by 5G and AI Boom | Valuates Reports

Semiconductor Plating Chemicals Market to Hit USD 1.73 Billion by 2031, Driven by 5G and AI Boom | Valuates Reports

Semiconductor Plating Chemicals Market is Segmented by Type (Copper Plating Solution, Gold Plating Solution, Others), by Application (Semiconductor...
High-Bandwidth Memory Chips Market to Soar to USD 139.45 Billion by 2031, Growing at 68.2% CAGR | Valuates Reports

High-Bandwidth Memory Chips Market to Soar to USD 139.45 Billion by 2031, Growing at 68.2% CAGR | Valuates Reports

High-Bandwidth Memory Chips Market is Segmented by Type (HBM2, HBM2E, HBM3, HBM3E, Others), by Application (Servers, Networking Products, Consumer...
More Releases From This Source

Explore

Chemical

Chemical

Chemical

Chemical

General Manufacturing

General Manufacturing

General Manufacturing

General Manufacturing

News Releases in Similar Topics