Lithium Iodide Market Share

North American Market Forecast

Among all regions, North America is expected to have the greatest market share of lithium iodide, with a share of nearly 34% by the end of 2036.  The rising manufacturing units of lithium iodide in the region are driving lithium iodide market growth in the region. For instance, SQM, a Chilean lithium and iodine manufacturer, has submitted to the environmental assessment service SEA a USD 987 million project to expand the lithium capacity of its Carmen plant. By adopting new technology, the business hopes to raise the plant's lithium production to 270,000t/y by 2024.

APAC Market Statistics

In 2036, the Asia Pacific lithium iodide market share is poised to account for around 26% by the end of 2036. Rising investment in the production of batteries is estimated to surge the growth of the market in the region. China presently manufactures 75% of all battery cell capacity and 90% of anode and electrolyte production. Increased investment in carbonate and hydroxide refinery facilities in the country has also resulted in it becoming the world's largest refiner of battery metals.