DUBLIN, June 15, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Lithium Market 2016-2020" report to their offering.
The global lithium market to grow at a CAGR of 7.84% during the period 2016-2020.
Global Lithium Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Lithium is recovered from brine, pegmatites, and sedimentary rocks. It is extracted from brine in the form of lithium chloride. Lithium is derived from spodumene, a commercially exploited hard rock mineral, through acid fusion. Lithium and its derivative compounds are used in many end-use segments such as batteries, ceramics and glass, lubricants, metallurgy, air treatment, and polymers. In addition, lithium compounds are used as psychiatric medication.
A key trend that is expected to boost market growth is the rising demand for lithium-ion batteries for use in grid-connected storage. The demand for lithium-ion batteries in grid-connected storage has increased because of the growing demand-supply gap in the electricity sector. Lithium-ion batteries store a considerable amount of power and usually supply this stored power during peak hours.
According to the report, a key growth driver for the lithium market is the demand for EV from China. In 2015, China became the largest market for EV vehicles (plug-in light) with a sale of 214,282 vehicles, followed by Western Europe (184,501 vehicles) and the US (115,263 vehicles). The EV market in China will grow at a CAGR of 27.01% during the forecast period, which translates into demand for lithium batteries. The golden period for EV in China was 2015. Beijing accounted for the largest share in this market in 2015 with a share of 28%, followed by Shanghai with 23% and Shenzhen with 10%.
Further, the report states that one challenge that could restrict market growth is the gap in demand and supply of lithium.
- Sichuan Tainqi Lithium Industries
Other prominent vendors
- Galaxy Resources
- Jiangxi Ganfeng
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Lithium industry value chain
Part 06: Pricing trends
Part 07: Market landscape
Part 08: Market segmentation by lithium compound
Part 09: Market segmentation by end-user
Part 10: Geographical segmentation
Part 11: Key leading countries
Part 12: Market drivers
Part 13: Impact of drivers
Part 14: Market challenges
Part 15: Impact of drivers and challenges
Part 16: Market trends
Part 17: Vendor landscape
Part 18: Key vendor analysis
Part 19: Appendix
For more information visit http://www.researchandmarkets.com/research/jg28cv/global_lithium
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SOURCE Research and Markets