Lithium Compounds Market Share

On the basis of geographical analysis, the lithium compounds market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific industry is expected to hold largest revenue share by 2036, led by large number of lithium reserves in Australia, and high manufacturing volume of China. Along with these, China is also one of the biggest manufacturers of batteries in the world, which in turn is anticipated to drive market growth in the APAC. The lithium ion batteries market in China is calculated to hold a revenue of more than USD 23 billion by the end of 2025. Moreover, Europe is also predicted to hold a large market share during the forecast period, which can be credited to the large production of electric vehicles in the region, especially in Germany.