Asia Pacific Lithium Hydroxide Market was valued at USD 187.2 million in 2021. The Asia Pacific Lithium Hydroxide Market size is estimated to grow at a CAGR of 9.5 % over the forecast period.
Lithium hydroxide is a white crystalline compound. This is an inorganic compound of the formula LiOH. The product is slightly soluble in ethanol and slightly soluble in water. LiOH is usually available in anhydrous form with strong bases. It is commonly used to absorb carbon dioxide gas, which is used especially in spacesuits. Increasing LiOH consumption in the manufacture of Portland cement and ceramics will expand the market size.
Asia Pacific Lithium Hydroxide Market Scope:
This Stellar Market Research report divides the Asia Pacific Lithium Hydroxide market into several segments based on manufacturers, regions, product types, and application areas. The value, output, and consumption of a market can be used to calculate its size. This Stellar Market Research (SMR) report covers a variety of topics, including distribution channels, Porter's Five Forces Report, market share, size, growth rate, future trends, market drivers, opportunities and challenges, risks, and entry barriers.
Asia Pacific Lithium Hydroxide Market Overview:
The SMR Asia Pacific Lithium Hydroxide Market report examines the upstream, midstream, and downstream industries' historical and projected growth. The market study goes into great detail about the overall market size, overall revenue, and market segmentation. The SMR research thoroughly considers a variety of factors, including current market competition, potential growth barriers, and profiles of key manufacturers, as well as production and consumption by relevant areas.
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Asia Pacific Lithium Hydroxide Market Drivers:
With rapid technological advancements in the electrification of trucks and buses and the proliferation of two- and three-wheelers, the demand for electric vehicles is also increasing significantly. This demand for electric vehicles is leading to increasing the lithium hydroxide market rapidly. This growing market has been pioneered by Tesla in recent years but is the biggest catalyst for the international adoption of EV technology by the mass market in China, where government subsidies cover electric passenger cars and commercial electric vehicles (buses and minivans).
Asia Pacific Lithium Hydroxide Market Segmentation:
Based on the application the market is segmented into batteries, glass, ceramics, lubricant, medical, and polymers. The Asia-Pacific lithium-ion battery market is expected to grow at a CAGR of around 15.5% during the forecast period. India has seen an increase in the local production of lithium-ion batteries due to the government’s push for an emotional performance. The government of India targets 30% of the electric train fleet by 2027.
Key Players:
Ganfeng Lithium Co. Ltd (China)
Sorbead India (India)
National Aluminum Company Limited (India)
Tosoh Corporation (Japan)
Union Showa K.K (Japan)
Tianqi Lithium Corporation (China)
Honeywell International Inc (USA)
W.R. Grace & Co. (USA)
The SMR report also includes information on the Asia Pacific Lithium Hydroxide market's leading players, such as company profiles, product images and specifications, output and capacity figures, pricing and cost information, revenue information, and contact information. It examines the requirements for raw materials, machinery, and upstream and downstream procedures.
Asia Pacific Lithium Hydroxide Market Regional Analysis:
The market's five geographical regions are the Middle East and Africa, South America, North America, Asia Pacific, and Europe. Stellar Market Research presents all market sub-segments and significant geographic divisions. We investigate regional evolution in terms of market size, share, and volume in this SMR report. This Stellar Market Research Asia Pacific Lithium Hydroxide industry report includes an in-depth analysis of business chain structures, opportunities, and the most recent market news, as well as data, geographic breakdowns, and revenue.
Key Questions answered in the Asia Pacific Lithium Hydroxide Market Report are:
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In 2018, Stellar Market Research, an organization based in India, was founded. Its area of expertise is long-term planning and consulting services to help clients meet their organisational transformation goals.
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Dec 03, 2022
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