According to the new market research report “Lithium Chloride- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Lithium Chloride market size is projected to reach USD 670 million by 2029, at a CAGR of 8.9% during the forecast period.
- Global Lithium Chloride MarketSize(US$ Million), 2018-2029
Source: QYResearch, "Lithium Chloride- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
Lithium chloride is an inorganic substance with a molecular formula of LiCl and a molecular weight of 42.39. White crystals, deliquescent. It tastes salty and is easily soluble in water, ethanol, acetone, pyridine and other organic solvents. It is of low toxicity, but has strong irritating and corrosive effects on eyes and mucous membranes.
Lithium chloride is widely used, such as the raw material for producing lithium metal, a flux in electrolytic production of metals (such as the production of titanium and aluminum), used as a welding agent for aluminum, a dehumidifier for air conditioners and a raw material for special cement, and is also used in flames , used in the battery industry to produce lithium manganese battery electrolyte, etc.
- Global Lithium Chloride Top10Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, "Lithium Chloride- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Lithium Chloride include Albemarle, Livent, etc. In 2022, the global top three players had a share approximately 25.0% in terms of revenue.
Market Drivers:
Lithium-ion batteries are one of the main application areas of lithium chloride. It is widely used in electric vehicles, mobile devices and renewable energy storage. With the rapid growth of the electric vehicle market and the popularity of renewable energy, the demand for lithium-ion batteries is also increasing, which has promoted the development of the lithium chloride industry.
Restraint:
The raw materials of lithium chloride mainly come from lithium ore and salt lake extraction. At present, the supply of global lithium resources is still relatively limited, especially the supply of high-quality lithium ore. If the supply of raw materials is unstable or unable to meet market demand, it will limit the development of the lithium chloride industry.
Opportunity:
Many countries have introduced policies to support the development of new energy sources to reduce reliance on traditional fossil fuels and combat climate change. As a clean energy storage technology, lithium-ion batteries are encouraged and supported by the government, which brings good development opportunities to the lithium chloride industry.
About The Authors
Jingyi He
Lead Author
Email: rosy@qyresearch.com
Tel: +86-13691347948
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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