Lucintel anticipates that Asia Pacific will be the fastest growing region in the lithium compound market

   November 7, 2019
According to a new market report by Lucintel, the future of the lithium compound market looks promising with opportunities in the Li-ion batteries, glass & ceramics, medical, lubricants, metallurgy, and polymers applications. The lithium compound market is expected to grow with a CAGR of 12% from 2019 to 2024. The major drivers for this market are growing demand for electric vehicles and increasing focus of consumers and government agencies towards environmental concerns.

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In this market, lithium carbonate, lithium hydroxide, lithium metal, and butyl-lithium are the major derivatives used in various applications. Lithium carbonate will remain the largest segment.

Within the lithium compound market, Li-ion batteries will remain the largest application for lithium compound market due to increasing production of electric vehicle in China and South Korea.

Asia-Pacific will remain the largest market over the forecast period due to increasing demand for lithium compound based batteries in electric vehicles and industrial power storage applications.

Sociedad Quimica Y Minera DE Chile (SQM), FMC Corporation, Albemarle Corporation, Sichuan Tianqui Lithium Chemicals, Jiangxi Ganfeng Lithium, China Lithium Products Technology, Sichuan NI&CO Guorun New Materials, and Shanghai China Lithium Industrial are some of the major manufacturers of lithium compounds.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the lithium compound market by derivative type, application, and region. Lucintel has prepared a comprehensive research report entitled "Lithium Compound Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the lithium compound market by derivative type, application, and region as follows:

By Derivative Type [$M shipment analysis for 2013 – 2024]:

  • Lithium Carbonate

  • Lithium Hydroxide

  • Lithium Concentrate

  • Lithium Metal

  • Lithium Chloride

  • Butyl-lithium

By Application [$M shipment analysis for 2013 – 2024]:

  • Li-ion Batteries

  • Glass & Ceramics

  • Medical

  • Lubricants

  • Metallurgy

  • Polymers

By Region [$M shipment analysis for 2013 – 2024]:

  • North America

    • United States

    • Canada

    • Mexico

  • Europe

    • United Kingdom

    • Germany

  • Asia Pacific

    • Japan

    • China

  • The Rest of the World

This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or

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