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Lithium Compounds Market worth $13.5 billion by 2025 – Exclusive Report by MarketsandMarkets

The report "Lithium Compounds Market by Derivative (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Butyl Lithium, Lithium Chloride), End Use (Li-Ion Batteries. Glass & Ceramics, Medical, Lubricants), and Region - Global Forecast to 2025" The lithium Compounds market is projected to grow from USD 5.3 billion in 2020 to USD 13.5 billion by 2025, at a CAGR of 20.6% from 2020 to 2025.

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Asia Pacific is the dominant market for lithium compounds, as this region includes countries with a high population, emerging economies, and increasing urbanization. Countries like China, India, Japan, and South Korea have a high population density and intense traffic congestion in their metro cities. This has aggravated the problem of air pollution in cities like Shanghai, Delhi, and Seoul and has necessitated comprehensive measures to curb emissions by promoting electric, hybrid, and plug-in vehicles. 

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Sociedad Quimica y Minera de Chile S.A. (SQM) (Chile), Livent Corporation (US), Albemarle Corporation (US), Tianqi Lithium Industries Inc. (China), and Ganfeng Lithium Company Limited (China) are key players in this market. Other noteworthy public and private players in this market are China Lithium Products Technology Company Limited (China), Sichuan Ni&Co Guorun New Materials Company Limited (China), Shanghai China Lithium Industrial Company Limited (China), Nemaska Lithium Inc. (Canada), Bacanora Lithium (United Kingdom), Lithium Americas (Canada), Galaxy Resources Limited (Australia), Orocobre Limited (Australia), Shandong Ruifu Lithium Industry Company Limited (China), Neo Lithium Corporation (Canada), and Millennial Lithium Corporation (Canada).

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Asia Pacific is the dominant market for lithium compounds, as this region includes countries with a high population, emerging economies, and increasing urbanization. Countries like China, India, Japan, and South Korea have a high population density and intense traffic congestion in their metro cities. This has aggravated the problem of air pollution in cities like Shanghai, Delhi, and Seoul and has necessitated comprehensive measures to curb emissions by promoting electric,...

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