The North America Lithium Chemical Market is expected to grow during the forecast period, from 2021 to 2028. Bridge Market Research data analyzes that the market grew at a CAGR of 6.82% during the forecast period above.
Lithium is basically a soft, silvery white substance that tends to be the first basic substance on the periodic table. These products are mainly metal compounds such as carbonates, hydroxides, butyls, bromides and chlorides and are highly reactive due to their electronic configuration. Among other things, this chemical exhibits optimal flux and catalytic properties as well as a high coefficient of thermal expansion and high electrochemical potential.
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Drivers: Lithium Chemical Market
· Surge of different lithium projects in the major lithium producing countries
· Shift towards electronic vehicles from fuel-powered vehicles
Restraints:
· Volatility in the prices of raw material of lithium compounds
· High cost of lithium manufactured batteries
Opportunity:
· Increased use of lithium carbonate in enamels and ceramics
Challenge:
· Lithium compounds can harm the kidneys of workers in processing units
North America Lithium Chemical Market Scope and Market Size
The lithium chemicals market is segmented by type, grade, application, and end user. Growth between different segments will help you gain knowledge of the various growth factors that are expected to dominate the market and formulate different strategies to identify key application areas and differences within your target market.
North America Lithium Chemical Market Country Level Analysis
The lithium chemicals market is segmented by type, grade, application, and end user.
The countries covered by the Lithium Chemicals market report are the United States, Canada and Mexico in North America.
The country section of the Lithium Chemicals market report also includes factors influencing the individual market and changes in domestic market regulation influencing current and future market trends.
Key Market Competitors Covered in the report
· Albemarle Corporation
· Livent
· Galaxy Resources Limited
· SQM S.A.
· Orocobre Limited Pty Ltd
· SICHUAN BRIVO LITHIUM MATERIALS CO., LTD.
· Lithium Americas Corp.
· Pilbara Minerals
· Neometals Ltd
· Millennial Lithium
· Tianqi Lithium Industry Co., Ltd.
· Nemaska Lithium
· Ganfeng Lithium Co Ltd.
· Talison Lithium Pty Ltd
· Mody Chemi-Pharma Limited
Market Analysis and Insights North America Lithium Chemical Market
Factors such as the increasing demand for rechargeable batteries in the electric vehicle sector, which consists of battery powered vehicles, plug-in and hybrid vehicles, as well as the growing demand for lithium-ion battery powered portable devices are the main reasons for supplying electricity to the growth rate of the Lithium chemistry market.
It is also expected to increase environmental awareness among consumers and regulators, along with the shift in consumer preferences from fuel-powered vehicles to electric vehicles and the increasing use of chemicals in various applications in digital cameras, laptops, calculators and alkaline cell phone replacement batteries. The replacement with alkaline batteries will also have a direct and positive impact on the growth rate of the lithium chemicals market.
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Major TOC of North America Lithium Chemical Market Forecast
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