The lithium chloride market was valued at $1.7 billion in 2021, and is projected to reach $3.2 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.
Lithium chloride can be produced for rechargeable batteries for mobile phones, laptops, digital cameras and electric vehicles. Lithium is also used in some non-rechargeable batteries for things such as heart pacemakers, toys and clocks. Major application industries of lithium chloride are batteries, air treatment, and others. The global production capacity of lithium chloride batteries is thus expected to expand the market.
For the purpose of analysis, the global lithium chloride market scope covers segments based on type, application, end-use industry, and region. The report outlines the details about lithium chloride type including lithium chloride hydrate, lithium chloride anhydrous and others. The use of lithium chloride in various end-use industries, including electronics, automotive, and others are analyzed in the report. Moreover, it analyzes the current market trends of lithium chloride across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Alfa Aesar, American Elements, Albemarle Corporation, FMC Corporation, Glentham Life Sciences, Harshil Industries, Honeywell International Inc, Levertonhelm Ltd, Nippon Chemical Industries, Suzhou Huizhi Lithium Energy Material Co. Ltd, Sichuuan Brivo Lithium Materials Co. Ltd, Tokyo Chemicals, SQM S.A, Loba Chemie, and Mody Pharma.
Lithium chloride can be produced for rechargeable batteries for mobile phones, laptops, digital cameras and electric vehicles. Lithium is also used in some non-rechargeable batteries for things such as heart pacemakers, toys and clocks. Major application industries of lithium chloride are batteries, air treatment, and others. The global production capacity of lithium chloride batteries is thus expected to expand the market.
For the purpose of analysis, the global lithium chloride market scope covers segments based on type, application, end-use industry, and region. The report outlines the details about lithium chloride type including lithium chloride hydrate, lithium chloride anhydrous and others. The use of lithium chloride in various end-use industries, including electronics, automotive, and others are analyzed in the report. Moreover, it analyzes the current market trends of lithium chloride across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Alfa Aesar, American Elements, Albemarle Corporation, FMC Corporation, Glentham Life Sciences, Harshil Industries, Honeywell International Inc, Levertonhelm Ltd, Nippon Chemical Industries, Suzhou Huizhi Lithium Energy Material Co. Ltd, Sichuuan Brivo Lithium Materials Co. Ltd, Tokyo Chemicals, SQM S.A, Loba Chemie, and Mody Pharma.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lithium chloride market analysis from 2021 to 2031 to identify the prevailing lithium chloride market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the lithium chloride market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global lithium chloride market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Lithium Chloride Hydrate
- Lithium Chloride Anhydrous
- Others
By Application
- Batteries
- Air Treatment
- Others
By End-use Industry
- Electronics
- Automotive
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Alfa Aesar
- AMERICAN ELEMENTS
- Albemarle Corporation
- FMC Corporation
- GLENTHAM LIFE SCIENCES
- HARSHIL INDUSTRIES
- Honeywell International Inc.
- LEVERTON HELM LTD
- Nippon Chemical Industries Co. Ltd
- Suzhou Huizhi Lithium Energy Material Co. Ltd
- Sichuuan Brivo Lithium Materials Co. Ltd
- TOKYO CHEMICALS
- SQM S.A
- LOBA CHEMIE
- MODY CHEMI PHARMA LTD
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LITHIUM CHLORIDE MARKET, BY TYPE
CHAPTER 5: LITHIUM CHLORIDE MARKET, BY APPLICATION
CHAPTER 6: LITHIUM CHLORIDE MARKET, BY END-USE INDUSTRY
CHAPTER 7: LITHIUM CHLORIDE MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Lithium Chloride Market," the lithium chloride market size was valued at $1.7 billion in 2021, and is estimated to reach $3.2 billion by 2031, growing at a CAGR of 6.8% from 2022 to 2031.Lithium chloride is used in the production of metallic lithium, welding fluxes, and as an aqueous solution for humidity management in air conditioning. Lithium chloride is used in batteries, air treatment and others applications. It is also used for the production of lithium metal by electrolysis and it also used as a brazing flux for aluminum in automobile parts. It is extremely hygroscopic and is commonly used in dehumidification systems in sectors like as food processing and horticulture to remove moisture from the air. Further, lithium chloride is becoming increasingly important in the creation of industrial products, particularly batteries for electronic gadgets and electric cars. The medical use of lithium chloride has gained traction worldwide. Lithium chloride is one of the most well-known mood stabilizers with antisuicidal effects and is nowadays being used as an agent for acute mania and as maintenance treatment in bipolar disorder. Further, process improvements have made lithium chloride an affordable solution for various industries.
The growth of the global lithium chloride industry is majorly attributable to its wide applications in various industries such as batteries, air treatment and others. Also, surge in use of lithium chloride in electronics industry is driving the lithium chloride market growth during the forecast period. Lithium chloride is used as electrolyte in batteries or further processed to produce lithium metal for lead and magnesium alloys, lithium hydride for high-purity silane, and lithium nitride used as catalyst. Lithium batteries can be used in many combinations of active materials for the anode, cathode, and electrolyte. Among all other industries, the use of lithium in secondary batteries has seen the most market growth. Lithium chloride is also in demand in smartphones, tablets, smart watch, camera, and pacemakers, due to its ability to store up to 150 watt-hours of electricity into 1 kilogram of battery.
However, health hazards associated with lithium chloride is projected to hinder the expansion of the market. On the contrary, increasing popularity of electric vehicles in the chemical industry is expected to offer ample growth opportunities for the lithium chloride industry. In automotive applications, lithium chloride cells are typically connected together in various configurations and packaged with associated control and safety circuitry to type a battery module. In automotive applications, lithium chloride is used in golf carts, buses, forklifts, wheelchairs, motorcycles, and others. It is used in energy storage applications such as portable solar energy storage and fixed energy storage. Moreover, rising popularity of electric vehicles among consumers is projected to boost the market for lithium chloride. For instance, according to IBEF, electric vehicle (EV) sales reached a new high of 5,592 units. Overall, in 2021, 329,190 EVs were sold in India, indicating a 168% YoY growth over last year’s sales of 122,607 units.
The global lithium chloride market is segmented into type, application, end-use industry, and region. On the basis of type, the market is categorized into lithium chloride hydrate, lithium chloride anhydrous and others. On the basis of application, the market is categorized into batteries, air treatment, others. On the basis of end-use industry, the market is categorized into electronics, automotive, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The lithium chloride market share is analyzed across all significant regions and countries. Asia-Pacific is projected to register a robust growth during the forecast period. This is attributed to the fact that lithium chloride is used as a brazing flux for aluminum in automobile parts. Lithium chloride in Asia-Pacific is used in battery applications of automobiles, truck, bus, train, or other transportation vehicles. Lithium-ion (Li-ion) batteries are the key component of most of the automotive vehicles in the region.
The major players operating in the global Lithium chloride market include Alfa Aesar, American elements, Albemarle corporation, FMC corporation, Glentham life sciences, Harshil Industries, Honeywell international Inc., LevertonHelm Ltd, Nippon chemical industries, Suzhou huizhi lithium energy material co. Ltd, Sichuuan brivo lithium materials co. Ltd, Tokyo chemicals, SQM S.A, Loba chemie and Mody pharma.
COVID-19 Analysis
The COVID-19 pandemic had moderate effects on the lithium chloride market. Lithium chloride has been reported as a potential antiviral drug for certain viruses. It can efficiently impair the replication of a variety of viruses, including infectious bronchitis coronavirus (IBV) and transmissible gastroenteritis coronavirus (TGEV). During the COVID-19 pandemic, most people are isolated and in order to reduce depression and mania, the drug demand for lithium chloride has increased. Furthermore, the COVID-19 epidemic has naturally increased the long-standing trend toward manufacturing automation. Motion sensors, contactless sensors and contactless elevators are highly marketed in pandemic for keeping house safe and secure. Therefore, the above mentioned factors are predicted to surge the demand for lithium chloride globally during the COVID-19 pandemic.Key Findings of the Study
A comprehensive lithium chloride market analysis of the factors that drive and restrain the market growth is provided.The qualitative data in this report aims at the lithium chloride market trends, dynamics, and developments in the industry.
Depending on type, the lithium chloride hydrate segment is expected to grow at a CAGR of 7.7% during the forecast period.
Based on application, the batteries segment was the highest revenue contributor to the market in 2021.
On the basis of end-use industry, the electronics segment was the highest revenue contributor to the market in 2021 and is estimated to grow at a CAGR of 6.1%.
Region wise, Asia-Pacific and North America are expected to witness considerable CAGRs of 8.1% and 6.4%, respectively, during the forecast period.
China was the highest revenue contributor growing with a CAGR of 8.7%.
South Korea, and Japan are expected to witness considerable CAGRs of 6.8%, and 6.6% respectively, during the forecast period.
Companies Mentioned
- Alfa Aesar
- American Elements
- Albemarle Corporation
- Fmc Corporation
- Glentham Life Sciences
- Harshil Industries
- Honeywell International Inc.
- Leverton Helm Ltd
- Nippon Chemical Industries Co. Ltd
- Suzhou Huizhi Lithium Energy Material Co. Ltd
- Sichuuan Brivo Lithium Materials Co. Ltd
- Tokyo Chemicals
- Sqm S.A
- Loba Chemie
- Mody Chemi Pharma Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 281 |
| Published | August 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1.7 billion |
| Forecasted Market Value ( USD | $ 3.2 billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
