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Lithium Compounds Market Trends

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Report ID: 3066
Published Date: Sep 23, 2024
Report Format: PDF, PPT

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Lithium Compounds Market Trends

Growth Drivers

Increasing Usage of Li-Ion Batteries Worldwide
Growing Demand for Energy Saving Devices Around the World

Challenges

High Operational Cost of Extracting Lithium

Lithium Compounds Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	17.5%
Base Year Market Size (2023)	USD 8.19 billion
Forecast Year Market Size (2036)	USD 66.65 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Lithium Compounds Market Size & Share, Growth Forecast 2036

Author Credits: Rajrani Baghel

Report ID: 3066
Published Date: Sep 23, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major growth drivers for market are increasing usage of li-ion batteries worldwide and growing demand for energy saving devices around the world.

The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2021 â€“ 2029.

High operational cost of extracting lithium is estimated to hamper the market growth.

Asia Pacific region will provide more business growth opportunities on the back of large number of lithium reserves and high manufacturing capacity of the region.

The major players in the market are Albemarle Corporation, Sociedad Quimica y Minera de Chile S.A., Tianqi Lithium Industries Inc., Livent Corporation, Ganfeng Lithium Company Limited, and others.

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