Lithium Iodide Market - Regional Analysis
North American Market Insights
North America industry is predicted to dominate majority revenue share of 34% by 2035, owing to rising manufacturing units of lithium iodide in the region.. 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 Insights
In 2035, the Asia Pacific lithium iodide market share is poised to account for around 26% by the end of 2035. 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.
