• About us
  • Contact Us
  • Submit a Press Release
Friday, September 29, 2023
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
TheEast-Africana
No Result
View All Result
Submit PR
  • Ethiopia

    Kavango Resources to acquire six prospecting licences in Botswana … – shareprices.com

    Liquid Intelligent Technologies Launches New Africa Fiber Routes – Tech in Africa

    Standard Chartered Bank Botswana Limited (STANCH.bw) HY2023 … – AfricanFinancials

    Botswana Shares Notes With Angola – AllAfrica – Top Africa News

  • Kenya

    In the Kingdom of Eswatini, The Food and Agriculture Organization … – African Business

    Taiwan president to visit last African ally Eswatini – Reuters

    Exposure to STEM careers for Eswatini youth can contribute to … – World Bank Group

    Eswatini | General Assembly – General Assembly of the United Nations General Debate

  • Rwanda

    South Africa, Lesotho: Adverse weather forecast across much of … – Crisis24

    AI is on the world's mind. Is the UN the place to figure out what to do about it? – Yahoo Finance

    Lesotho Signs its Third Country Programme Framework (CPF) for … – International Atomic Energy Agency

    Weakening franc worries Rwanda economy chiefs – The East African

  • Uganda

    Uganda: Local Investors Asks Govt for Tax Waivers – AllAfrica – Top Africa News

    Uganda in talks with Chinese credit agency for pipeline funds – official – Reuters

    Nigerian auto-tech startup Fixit45 raises $1.9M to boost its expansion plans – Techloy

    Vivo Energy Uganda, launches Shell V-Power campaign in Uganda. – capitalradio.co.ug

  • MORE COUNTRIES
    • Burundi
    • Comoros
    • Djibouti
    • Eritrea
    • Ethiopia
    • Kenya
    • Madagascar
    • Malawi
    • Mauritius
    • Mozambique
    • Rwanda
    • Seychelles
    • Somalia
    • South Sudan
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • AFRICA
    Annual Investment Meeting 2023 to Explore the Role of Digital Technology in Designing Future Cities

    Annual Investment Meeting 2023 to Explore the Role of Digital Technology in Designing Future Cities

    BZR on Coinstore – a Significant Milestone for Bazaars

    BZR on Coinstore – a Significant Milestone for Bazaars

    Kaafmeem to Provide VIP Clothing for Saudi Motorsport Company during Formula1 event in KSA.

    Kaafmeem to Provide VIP Clothing for Saudi Motorsport Company during Formula1 event in KSA.

    أعرب 83٪ من المسلمين عن ولعهم بالمنتجات والخدمات الصديقة للبيئة ، وفقا لاستطلاع أجرته TGM Research

    أعرب 83٪ من المسلمين عن ولعهم بالمنتجات والخدمات الصديقة للبيئة ، وفقا لاستطلاع أجرته TGM Research

  • Press releases
    Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

    Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

    Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

    Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

    Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

    Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

    Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

    Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

    Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent

    Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent

    Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

    Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

    Trending Tags

    • Ethiopia

      Kavango Resources to acquire six prospecting licences in Botswana … – shareprices.com

      Liquid Intelligent Technologies Launches New Africa Fiber Routes – Tech in Africa

      Standard Chartered Bank Botswana Limited (STANCH.bw) HY2023 … – AfricanFinancials

      Botswana Shares Notes With Angola – AllAfrica – Top Africa News

    • Kenya

      In the Kingdom of Eswatini, The Food and Agriculture Organization … – African Business

      Taiwan president to visit last African ally Eswatini – Reuters

      Exposure to STEM careers for Eswatini youth can contribute to … – World Bank Group

      Eswatini | General Assembly – General Assembly of the United Nations General Debate

    • Rwanda

      South Africa, Lesotho: Adverse weather forecast across much of … – Crisis24

      AI is on the world's mind. Is the UN the place to figure out what to do about it? – Yahoo Finance

      Lesotho Signs its Third Country Programme Framework (CPF) for … – International Atomic Energy Agency

      Weakening franc worries Rwanda economy chiefs – The East African

    • Uganda

      Uganda: Local Investors Asks Govt for Tax Waivers – AllAfrica – Top Africa News

      Uganda in talks with Chinese credit agency for pipeline funds – official – Reuters

      Nigerian auto-tech startup Fixit45 raises $1.9M to boost its expansion plans – Techloy

      Vivo Energy Uganda, launches Shell V-Power campaign in Uganda. – capitalradio.co.ug

    • MORE COUNTRIES
      • Burundi
      • Comoros
      • Djibouti
      • Eritrea
      • Ethiopia
      • Kenya
      • Madagascar
      • Malawi
      • Mauritius
      • Mozambique
      • Rwanda
      • Seychelles
      • Somalia
      • South Sudan
      • Tanzania
      • Uganda
      • Zambia
      • Zimbabwe
    • AFRICA
      Annual Investment Meeting 2023 to Explore the Role of Digital Technology in Designing Future Cities

      Annual Investment Meeting 2023 to Explore the Role of Digital Technology in Designing Future Cities

      BZR on Coinstore – a Significant Milestone for Bazaars

      BZR on Coinstore – a Significant Milestone for Bazaars

      Kaafmeem to Provide VIP Clothing for Saudi Motorsport Company during Formula1 event in KSA.

      Kaafmeem to Provide VIP Clothing for Saudi Motorsport Company during Formula1 event in KSA.

      أعرب 83٪ من المسلمين عن ولعهم بالمنتجات والخدمات الصديقة للبيئة ، وفقا لاستطلاع أجرته TGM Research

      أعرب 83٪ من المسلمين عن ولعهم بالمنتجات والخدمات الصديقة للبيئة ، وفقا لاستطلاع أجرته TGM Research

    • Press releases
      Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

      Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

      Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

      Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

      Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

      Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

      Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

      Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

      Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent

      Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent

      Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

      Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

      Trending Tags

      Submit PR
      No Result
      View All Result
      TheEast-africana
      Submit PR
      Home Press Releases

      Lithium Compounds Market Size Expected to Valued at $13.8 Billion by 2026

      admin by admin
      February 25, 2022
      in Press Releases
      Share on FacebookShare on Twitter


      (EMAILWIRE.COM, February 25, 2022 ) Lithium Compounds Market size is expected to be valued at $13.8 billion by the end of the year 2026 and the Lithium Compounds industry is set to grow at a CAGR of 8.3% during the forecast period from 2021-2026. The increase in demand for energy-saving devices with good battery backup owing to various factors such as the drastic shift in lifestyle, technological advancements, and others is highly driving the demand for lithium compounds market. Furthermore, the increasing production and use of glass and ceramics in various products namely kitchenware, medical equipment, automobile parts and others are also contributing to the growth of the lithium compounds market. Lithium carbonate, a type of lithium compound is majorly used in various applications ranging from medicines to batteries owing to its enhanced properties which is one of the significant factors impacting the growth of lithium compounds market. Other types of lithium compounds such as lithium chloride, lithium hydroxide and lithium chloride are widely used in the production of cathodes in batteries and in production of glasses and ceramic. This is highly driving the demand for lithium compounds market.

      COVID-19 impact

      Amid the Covid-19 pandemic, the lithium compounds market witnessed a major downfall in the growth and demand owing to the various economic and legal restrictions imposed in countries across the world. The restriction and bans on trade, export, import and other inter-country and inter-state activities affected the lithium compounds market in terms of production, supply-chain management and distribution. The restrictions were in effect for the major part of the year 2020. However, the restrictions were eased out and the bans were lifted during the beginning of the year 2021 when the Covid-19 cases were decreasing. The lithium compounds market is expected to grow by the year end of 2021.

      Lithium Compounds Market Segment Analysis – By Compound

      Lithium carbonate segment held the largest share of 32% in the Lithium compounds market in the year 2020. Lithium carbonate is highly used in the processing of metal oxides. Lithium carbonate is the first lithium compound derived from chain of lithium, which is used as a building block for other lithium derivatives. Lithium carbonate is majorly used in the production of various products such as glass & ceramics, aluminum, pharmaceuticals, Li-ion batteries and others. The increasing application of such products is driving the demand for lithium carbonate segment in the lithium compounds market. Lithium carbonate is also used in the oven glasses to reduce the melting point of silica. This is one of the major reason driving the demand for lithium carbonate in the lithium compounds market.

      Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=15221

      Report Price: $ 4500 (Single User License)

      Lithium Compounds Market Segment Analysis – By Application

      Li-ion batteries segment held the largest share of 30% in the Lithium compounds market in the year 2020. The increase in the demand and production of electric vehicles in the present days is one of the factors driving the manufacturing of Li-ion batteries. According to International Energy agency, the global sales of electric cars topped 2.1 million units in 2019 surpassing the global sales of 2018. This eventually boosted the stock to 7.2 million electric cars. Electric cars registered a 40% year-on-year increase in the year 2020 at 2.94 million units. The increase in the sales and production of electric cars is increasing the demand for Li-ion batteries which is further driving the lithium compounds market.

      Lithium Compounds Market Segment Analysis – By End-Use Industry

      Automotive industry held the largest share growing at a CAGR of 8.7% in the Lithium compounds market in the year 2020. The increasing use of lithium carbonate, lithium chloride, lithium hydroxide and lithium chloride in the production of cathodes and anodes in batteries is one of the major factor driving the demand for lithium compounds in the automotive sector. According to International Organization of Motor Vehicle Manufacturers (OICA), even though the automotive industry production declined by 13.77% in the year 2020 due to the global pandemic, the automobile industry is estimated to bounce back on track in the coming days. This is driving the need for automotive parts like batteries and others which is further increasing the growth and demand for lithium compounds market.

      Lithium Compounds Market Segment Analysis – By Geography

      Asia-Pacific region held the largest share of 42% in the Lithium compounds market in the year 2020. The rapid growth of population in countries like India and China coupled with the countries’ high dependence on end use industries like building & construction, automotive and medical industry is driving the demand for lithium compounds as it is used in various applications of these end-use industries. For instance, according to India Brand Equity Foundation (IBEF), the pharmaceutical industry in India is estimated to be around US$41 billion by the end of 2021. Furthermore, the investments in the pharmaceutical industry in India stood at US$17.5 billion in the year 2020 and the Indian government further announced an incentive scheme in February 2021 which will attract investments of US$2.07 billion into the sector. This will majorly impact the lithium compounds market in the region. Furthermore, according to International trade administration, the production in pharmaceuticals industry in Japan increased by 35.2% to US$84.6 million in the year 2019 from US$62.57 million in the year 2018. This is driving the Asia-Pacific region of the lithium compounds market.

      Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=15221

      Lithium Compounds Market Drivers

      Increasing Demand from Medical Industry

      Lithium carbonate is used in medications in treating maniac-depressive disorders (bipolar disorder). Lithium carbonate is used for stabilizing mood and in reducing extreme behaviors by restoring the balance of neurotransmitters (natural substances in brain). It helps in reducing the severity and frequency of mania. Lithium compound is tested to have reduced the risk of suicide tendencies among mentally-ill patients. According to the latest statistics provided by World Health Organisation (WHO) on depression and suicide in the year 2019, more than 264 million people are affected with depression across the globe and around 800 thousand people commit suicide every year. Suicide was found to be the second leading cause of death in 15-29 years old every year. The increasing mental health awareness and thereby treatment of such illness is increasing the use of lithium carbonate in the production of medicines for such illness. This is further driving the lithium compound market.

      The Increasing Production of Glass and Ceramic

      The increase in production of glass & ceramic and related products is one of the significant factors driving the demand for lithium concentrate, a type of lithium compound is widely used in the production of glass and ceramics which is further fuelling the growth of the lithium compound market. For instance, according to Glass Alliance Europe, the glass production in Europe reached 37.2 million tonnes, an increase of 1.8% compared to the previous year 2018. Likewise in the US, according to the Bureau of Economic Analysis of US, the total value of glass and glass product manufacturing industry was valued at US$3.83 trillion in the year 2020, an increase of 0.26% from the previous year value. The increase in production of glass and ceramics is driving the demand for lithium concentrate, a lithium compound which is further driving the demand for lithium compound market.

      Lithium Compounds Market Challenges

      High operational costs and fluctuating price of lithium

      The high operational costs involved in the setting up of the production of lithium compounds is one of the major factors restraining the growth of lithium compounds market. The setting up cost and operational costs involved with lithium compound is expensive, because of which the growth of the lithium compounds market is highly restricted. Furthermore, the fluctuating prices of lithium is one of the major restricting factor hindering the growth of the lithium compounds market. According to the data provided by the Trading Economics, the price of lithium carbonate increased by 32.02% in May 2021 as compared to the increase of 19.30% in January 2021. This fluctuation is one of the biggest challenge faced by the lithium compounds market.

      Lithium Compounds Market Industry Outlook

      Acquisitions and mergers, production expansion, facility expansion collaborations, partnerships, investments, are some of the key strategies adopted by players in the Lithium Compounds Market. Major players in the Lithium Compounds Market Lithium Americas Corp., Albemarle Corporation, Neometals Ltd, FMC Corporation, Sociedad Química y Minera de Chile, Livent Corporation, Tianqi Lithium Industries Inc., Nemaska Lithium Inc., Neo Lithium Corporation, Millennial Lithium Corporation and Galaxy Resources Limited among others.

      Acquisitions/Technology Launches

      On 25 September 2020, Contemporary Amperex Technology Co. Limited (CATL), a battery manufacturer and technology company known for its lithium-ion batteries for electric vehicles & energy storage systems and Shenzhen KSTAR Science & Technology partnered for constructing a lithium-ion battery manufacturing facility in Fuji, China. The companies invested about US$150 million in the factory in China which occupies 1GWh of annual production capacity and will make lithium-ion battery packs as well as integrated products for solar-plus-storage.

      Key Takeaways

      Asia-Pacific market held the largest share in the lithium compounds market owing to highly developed electronics industry and battery technology segments in countries like India, China and Japan.

      The increasing production of glass & ceramic and related products is one of the major factors driving the lithium compounds market as lithium concentrate, a type of lithium compound is used in the production of glass and ceramics.

      The growing demand for battery-saving devices owing to the technological advancement and growth is driving the demand for lithium compounds market, as lithium carbonate is widely used in production of cathodes in batteries.

      Amid the Covid-19 pandemic, the Lithium compounds market witnessed a major downfall due to the various restrictions laid down by countries across the globe.

      Related Reports:

      A. Lithium Ion Battery Cathode Material Market

      https://www.industryarc.com/Research/Lithium-Ion-Battery-Cathode-Material-Market-Research-501497

      B. Lithium Iron Phosphate (LFP) Batteries Market

      https://www.industryarc.com/Report/15769/lithium-iron-phosphate-lfp-batteries-market.html

      For more Chemicals and Materials Market reports, please click here

      About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



      Source link

      Previous Post

      Network Analytics Market Witness the Growth of $3.6 billion at a CAGR of 20.5% by 2024

      Next Post

      Deicing Fluid Market Size Forecast to Reach $ 2.3 Billion by 2026

      Related Posts

      Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List
      Press Releases

      Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

      September 25, 2023
      Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent
      Press Releases

      Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

      September 24, 2023
      Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent
      Press Releases

      Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

      September 24, 2023
      Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent
      Press Releases

      Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

      September 24, 2023
      Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent
      Press Releases

      Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

      September 23, 2023
      Hot & Cold Systems Market Share: Regional Dynamics Unveiled
      Press Releases

      Hot & Cold Systems Market Share: Regional Dynamics Unveiled

      September 23, 2023

      Discussion about this post

      LATEST NEWS

      Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

      Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

      September 25, 2023

      Kavango Resources to acquire six prospecting licences in Botswana … – shareprices.com

      September 25, 2023

      Liquid Intelligent Technologies Launches New Africa Fiber Routes – Tech in Africa

      September 25, 2023

      Standard Chartered Bank Botswana Limited (STANCH.bw) HY2023 … – AfricanFinancials

      September 25, 2023

      About

      The East Africana™ reports and aggregates business, socio-economic, Tech and industrial news on Southern African countries.

      We provide press release distribution to media outlets in Africa including Botswana, Eswatini, Lesotho, Namibia and South Africa. Submit a press release or contact us today.

      Categories

      ETHIOPIA

      KENYA

      RWANDA

      UGANDA

      MORE COUNTRIES

      AFRICA

      PRESS RELEASES

      Recent Post

      Recent Posts
      • Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List
      • Kavango Resources to acquire six prospecting licences in Botswana … – shareprices.com
      • Liquid Intelligent Technologies Launches New Africa Fiber Routes – Tech in Africa

      Subscribe to Our Newsletter

        Share Us

        Share on facebook
        Share on twitter
        Share on linkedin
        Share on pinterest

        Contact Us

        • +1 832 716 2363
        • +12816454086
        • Email: Email Us
        • Skype: groupwebmedia
        The East Africana™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC
        No Result
        View All Result
        • Ethiopia
        • Kenya
        • Rwanda
        • Uganda
        • MORE COUNTRIES
          • Burundi
          • Comoros
          • Djibouti
          • Eritrea
          • Ethiopia
          • Kenya
          • Madagascar
          • Malawi
          • Mauritius
          • Mozambique
          • Rwanda
          • Seychelles
          • Somalia
          • South Sudan
          • Tanzania
          • Uganda
          • Zambia
          • Zimbabwe
        • AFRICA
        • Press releases

        Share on facebook
        Share on twitter
        Share on linkedin
        Share on pinterest
        © 2023 The-East-Africana