The Report “Global Lithium Chloride Market by Applications (Metallurgy, Air Conditioning and Others); By Geography (North America, Europe, Asia-pacific and Rest of the world) - Forecasts till 2020” is estimated to reach $46.34 Million by 2020, at a CAGR of 16.87% from 2015 to 2020.
Browse through the TOC of the Global Lithium Chloride Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Lithium Chloride is an alkali compound that is slightly soluble in water. It is mainly used in the production of lithium metal through electrolysis. Lithium chloride is produced by reacting hydrochloric acid with lithium carbonate. The growth is attributed to increase in its application, and economical extraction and processing of lithium hydroxide from brines, sedimentary rocks, and pegmatites. Lithium chloride is also used in manufacturing automobile parts.
Metallurgy poses as the most promising lithium chloride market and is expected to be the same in the near future. Lithium chloride is very hygroscopic salt and used in fluxes, humidity control, and zeolites. It is a raw material required for the electrolysis of lithium metal. Also the growing demand for electric and hybrid commercial vehicles, laptops and other electronic gadgets has resulted in better opportunities for Li-Ion batteries application segment.
The overall lithium chloride consumption will likely post 6.44% YoY growth in terms of volume and in terms of value the market will increase with a CAGR of 16.87%. Chile and Australia are the largest producers of lithium followed by China, Argentina, Zimbabwe and U.S.A among others.
In terms of geography the market is segmented into Asia-Pacific, North America, Europe and Rest of the world (RoW). The Asia-Pacific region is the fastest growing region in the Global Lithium chloride market.
New product launch, Joint venture and expansions are the key growth strategies adopted by the key players in the market. Manufacturing companies and end-product manufacturers infuse high investments for future advancements and technology modifications to match the ever growing demand coming from end-user industries.
An in-depth market share analysis, in terms of revenue, of the top companies is also included in the report. These numbers are arrived at based on key facts, annual financial information from SEC filings, annual reports, and interviews with industry experts, key opinion leaders such as CEOs, directors, and marketing executives. A detailed market share analysis of the major players in Global Lithium Chloride market has been covered in this report. Some of the major companies in this market are SQM (Chile), FMC Corp (U.S.), Albemarle Corp (U.S.), Sichuan Tianqui (Australia), Talison Lithium Ltd. (Australia), Galaxy Resources (Australia), and others.
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