Lithium chloride is a compound produced by reacting hydrochloric acid with lithium carbonate. It possesses unique property of exceptional solubility in polar solvents. It acts as a typical ionic compound as well as brazing flux for aluminum in automobile applications. Lithium chloride is a raw material used in the electrolysis of lithium metal. It is used a desiccant for drying air streams. Lithium chloride is also used as additive in organic synthesis. It is used to precipitate RNA from cellular extracts in biochemical applications. The lithium chloride market has been expanding due to the increase in its applications, economical extraction, and processing of lithium hydroxide from brines, sedimentary rocks, and pegmatite. Lithium chloride is a hygroscopic salt and is used in fluxes, humidity control, and zeolites. Lithium chloride is characterized by relatively low melting point and high ionic conductivity. This makes it a suitable component in molten salt electrolytes for thermal barriers.
Major Geographical Regions
The study report on Global Lithium Chloride Market 2021 would cover every big geographical, as well as, sub-regions throughout the world. The report has focused on market size, value, product sales and opportunities for growth in these regions. The market study has analyzed the competitive trend apart from offering valuable insights to clients and industries. These data will undoubtedly help them to plan their strategy so that they could not only expand but also penetrate into a market.
North America accounted for the largest share in the Lithium Chloride market in 2021 owing to the increasing collaboration activities by key players over the forecast period.
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Increase in demand for lithium chloride in the automobile industry is a key factor driving the global lithium chloride market. Lithium chloride is used in battery applications of automobiles. Rise in demand for lithium chloride in the biomedical sector is also anticipated to boost the lithium chloride market. Recent trend of electrification of automobiles across the globe is anticipated to drive the global lithium chloride market. Increase in demand for the production of lithium metal is also anticipated to fuel lithium chloride market as it is used as feed material. Lithium chloride serves as electrolyte in the reprocessing of nuclear fuel. Advancements in the electrification and transportation are anticipated to drive the global lithium chloride market. Rise in demand for mobile devices and tools which use lithium battery is also estimated to propel the global lithium chloride market. Battery performance, cost, and safety are the key factors that manufacturers focus on. They prefer lithium chloride for achieving these. Development in the biomedical sector is expected to offer promising opportunities to the lithium chloride market, as it is used for the extraction of RNA.
Based on end-user industry, the global lithium chloride market can be classified into automotive, electrical & electronics, biomedical, aerospace & defense, and others. Electrical & electronics applications include tablets, smartphones, power tools, and cordless phones. Lithium chloride is used in golf carts, buses, forklifts, wheelchairs, bikes, etc. in automotive applications. It is employed in portable solar energy storage and stationary energy storage in energy storage applications.
The global lithium chloride market expanded significantly in 2017. This trend is estimated to continue during the forecast period. North America is a key region of the lithium chloride market, owing to the presence of the expanding aerospace and defense industries in the region. Germany, the U.K., and France are some of the key countries in Europe, led by the presence of an expanding automotive and defense sectors in these countries. Rise in population, increase in urbanization, and changes in lifestyle are projected to boost the lithium chloride market in Asia Pacific during the forecast period. Demand for lithium chloride is high in China, India, and Japan in the region. The lithium chloride market in Latin America and Middle East & Africa is likely to expand at a significant pace during the forecast period, owing to the recent economic progress in these regions.
Major players in the report included are SQM, FMC Corp, Albemarle Corp, Jiangxi Ganfeng Lithium, Leverton-Clarke, Kurt J. Lesker, American Elements, Harshil Industries, Huizhi Lithium Energy, Tianqi Lithium, Brivo Lithium, Jiangxi Dongpeng New Materials,.
Types covered in the Lithium Chloride industry are Lithium Chloride Hydrate, Anhydrous Lithium Chloride,.
Applications covered in the report are Medical, Industry, Electronics, Automotive, Others,.
Geographical Scope of this report includes:
The objective of the researchers is to find out the sales, value, and status of the Lithium Chloride industry at the international levels. While the status covers the years of 2016-2020, the forecast is for the period 2021-2027 that will enable market players to not only plan but also execute strategies based on the market needs.
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The study wanted to focus on key manufacturers, competitive landscape, and SWOT analysis for the Lithium Chloride industry. Apart from looking into the geographical regions, the report concentrated on key trends and segments that are either driving or preventing the growth of the industry. Researchers have also focused on individual growth trends besides their contribution to the overall market.
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