Global Lithium Hexafluorophosphate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2035

Global Lithium Hexafluorophosphate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2035

The global Lithium Hexafluorophosphate market had reached approximately 50 thousand tonnes in 2021 and is expected to grow at an impressive CAGR of 9.58% during the forecast period till 2035. Recently, Yongtai Technology announced about constructing a new project which is estimated to increase their Lithium Hexafluorophosphate production capacity to reach 67 thousand tonnes per annum along with two other products (Lithium difluorosulfonimide, VC, and FEC).

Lithium Hexafluorophosphate also known as Lithium hexafluorophosphate(V), is an inorganic compound which is a salt of lithium. It appears as a white crystalline powder. This compound is air-sensitive in nature. When manufacturing lithium-ion batteries, lithium hexafluorophosphate (LiPF6) is employed as an electrolyte. It is commonly used in rechargeable Lithium batteries. Rechargeable battery demand from various industries, including aviation, electric vehicles, power stations, and household energy. These batteries are employed in manufacturing electricity holding devices and consumer electronic products such as laptop, mobile devices, and power backup devices such as inverters and power banks.

The global Lithium Hexafluorophosphate market is primarily driven by its application as a component in manufacturing rechargeable Lithium-ion batteries. Lithium ion batteries surpass other batteries in terms of energy efficiency, lifespan, and storage space; as a result, they are highly sought after in energy-intensive applications including storage grids, Hybrid Electric Vehicles (HEVs), and Electric Vehicles (EVs). Additionally, with the expanding population, sophisticated, opulent lifestyles, high demand automotive products, and simultaneously rising battery demand from the automotive sectors further create the demand of Lithium Hexafluorophosphate. In future, EVs and HEVs are anticipated to take over conventional fuel vehicles due to environmental reason, which will most-likely swell up the Lithium Hexafluorophosphate market. The global Lithium Hexafluorophosphate market is anticipated to foresee a jump in its demand and reach nearly 200 thousand tonnes in the forecast period of 2035.

Based on region, North America is dominating the Lithium Hexafluorophosphate market, followed by Europe. In 2021, North America accounted for a consumption of approximately 32% of the total demand. The market for Lithium Hexafluorophosphate is dominated by countries like USA and Canada because end customers in this region chose four-wheeled vehicles and because these nations have a thriving automotive industry. Another reason that contributes to the demand for lithium hexafluorophosphate in the near future is the growth in the demand for electric devices and government attention to pollution control. Although, China is the leading producer of this chemical. The country operates more than 14 plants in the proximal provinces like Jiangsu, Jiangxi, Shenzhen, Zhongshan, and others. Furthermore, Japan, Taiwan, and South Korea are the other leading countries involved in the Lithium Hexafluorophosphate.

Based on the end-user industry, the global Lithium Hexafluorophosphate market is segmented into Automotive, Electronics, Industrial Energy Storage, and Others. However, the Automotive industry dominates the Lithium Hexafluorophosphate market. In 2021, this industry held more than 42% of the market share. However, Industrial Energy Storage is also a prominent consumer of Lithium Hexafluorophosphate owing up to their ability to have extended life cycle and abundance of storage.

Major players in the production of Global Lithium Hexafluorophosphate are Do-Fluoride Chemicals, Jiangsu Xintai Material, Shenzhen SunXing Light Alloys Materials Co.,Ltd., Morita New Energy Materials Co., Ltd., Guangzhou Tinci Materials, JiangSu Bicon Pharmaceutical, Foosung Co Ltd, Stella Chemifa Corporation, Sichuan Huangming Lithium, Kanto Denko Kogyo, Formosa Mitsui Advanced Chemicals Co., Ltd, Jiangsu Xintai Materials, and Songyan Melting Materials.

Years considered for this report:

Historical Period: 2015- 2021

Base Year: 2021

Estimated Year: 2022

Forecast Period: 2023-2035

Objective of the Study:

• To assess the demand-supply scenario of Lithium Hexafluorophosphate which covers production, demand and supply of Lithium Hexafluorophosphate market in the globe.
• To analyse and forecast the market size of Lithium Hexafluorophosphate
• To classify and forecast Global Lithium Hexafluorophosphate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Lithium Hexafluorophosphate market in the globe.

To extract data for Global Lithium Hexafluorophosphate market, primary research surveys were conducted with Lithium Hexafluorophosphate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Lithium Hexafluorophosphate market over the coming years.

ChemAnalyst calculated Lithium Hexafluorophosphate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of raw material to produce Lithium Hexafluorophosphate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience:

• Lithium Hexafluorophosphate manufacturers and other stakeholders
• Organizations, forums and alliances related to Lithium Hexafluorophosphate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Lithium Hexafluorophosphate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Lithium Hexafluorophosphate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by End-use: Automotive, Electronics, Industrial Energy Storage, and Others
• Market, by Sales Channel: Direct Sale and Indirect Sale
• Market, by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.

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