Market Definition:
Lithium Hydroxide (LiOH) Market is growing briskly, mainly due to the extensive uses of this substrate in the manufacturing of high water-resistant lithium greases like lithium stearate. Also, lithium hydroxide is used in electric vehicle (EV) batteries. Battery manufacturers increasingly prefer LiOH over lithium carbonate for its properties needed to give batteries longer life and EVs more range.
Market Scenario and Growth Factors:
Owing to some of its special properties like thermal resistance, durability, minimal maintenance, and high energy density, LiOH, is widely used in some burgeoning end-use industries such as aerospace, automotive, marine, and electrical & electronics, among others. Moreover, the LiOH is extensively consumed in many industrial usages such as intermediates, adsorbents & Ion exchange agents, lubricants & lubricant additives, and oxidizing/reducing agents, among others.
Browse key industry insights spread across 138 pages with 36market data tables & 11 figures & charts from the report, “Lithium Hydroxide Market Research Report: By Application (Batteries, Ceramic Glass, Lubricant Grease, Air-Conditioning), End-Use (Automotive, Electrical & Electronics, Marine, Aerospace) – Forecast Till 2023” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/lithium-hydroxide-market-988Leading Players:
Players leading the global lithium hydroxide market:
- SQM (Chile),
- FMC Lithium (US),
- Albemarle Corporation (US),
- Jiangxi Ganfeng Lithium Co., Ltd. (China),
- Lithium Americas (Canada),
- Tianqi Lithium Corporation (China),
- Nemaska Lithium (Canada),
- Wealth Minerals Ltd (Canada),
- MGX Minerals Inc (Canada),
- Galaxy Resources Limited (Australia)
Industry/ Innovation/ Related News:
September 24, 2019 –– Tianqi Lithium Corp (China), a leading global lithium producer, announced the signing of a long-term supply agreement with Northvolt Ett (Sweden), a lithium-ion battery maker. Tianqi had recently launched a processing plant in Western Australia. It will supply lithium hydroxide to Northvolt for its electric vehicle (EV) batteries process plant.
September 24, 2019 –– Wesfarmers Limited (Australia), a conglomerate with interests predominantly in retail, chemicals, fertilizers, coal mining and industrial, and safety products, announced the completion of its acquisition of Kidman Resources Ltd. (Australia), a leading lithium developer. The acquisition would give it joint ownership of the Mt Holland integrated lithium project with Sociedad Quimica y Minera de Chile (SQM – Chile), a lithium producer.
Wesfarmers had also confirmed that it would be investing around AUS $600 MN (around USD 408 MN) in the integrated mining, processing and downstream project aimed at producing over 45,000 t/yr of lithium hydroxide for electric vehicle batteries. Construction of the lithium hydroxide plant is expected to start in 2020, with completion targeted for 2022.
Regional Analysis:
The Asia Pacific region leads the global lithium hydroxide market with the largest market share. The growing adoption of lightweight metal in the making of batteries, glass, grease, air conditioning equipment, and others drive the regional market growth, predominantly. The region is would retain its dominance, growing at the highest CAGR throughout the forecast period. Growing markets of India, China, Japan, and Korea lead the regional market predominantly.
North America takes the second leading position in the global lithium hydroxide market. The growing production of lithium-ion batteries and in electrical & electronics industries drive the growth of the regional market. Growing investments in industries such as automotive, aerospace and others for the development of lightweight, thermal resistance and high standard performance carriers are impacting the growth of the regional market. The lithium hydroxide market in the US, Canada, and Mexico majorly contribute to the growth of the regional market.
The European lithium hydroxide market follows the North American market closely. Stringent regulations implemented by the regional governments pertaining to the uptake of lightweight products in end-use industries boost the regional market growth. The UK, France, and Germany account for the major markets for lithium hydroxide in the region. Furthermore, growing innovation and technological advancement in lithium-ion batteries and other products contribute the regional market growth.
