Lithium Chloride Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Lithium Chloride Market
The lithium chloride market size was valued at USD 45.9 million tons in 2023, and the market is now projected to grow from USD 49.7 million tons in 2024 to USD 95.7 million tons by 2032, exhibiting a CAGR of 8.5% during the forecast period of 2024-2032.
With the generalized quarantine and the supply chain disruptions all over the world caused by COVID-19 there were decreases in product demand. Although lithium was considered as a supportive treatment in the anti-COVID-19 therapy, it helped to maintain the standard market growth until the minimum growth rate. Lithium industry in spite of the tumble in demand remained relatively stable and that along with the slight improvement in the global economy led to persistence of the market. However, with a small part in healthcare, sometimes, this really represents the essence of lithium’s application in pandemics, hence, making the lithium chloride market share stable.
Ceramics and glass production depends on a product demand situation, where as a flux a component lowers the melting point and at the same time enhances its relevant properties. Regarding air treatment, it is through lithium chloride’s hygroscopic property that the substance can efficiently extract moisture, which is an important element in air conditioning and dehumidifier systems applications. Such double requirements will, therefore, stimulate the market development since industries will seek for these efficient solutions and environmental control needs in their manufacturing processes. Besides, the increasing application of the product in pharmaceutics, metallurgy, and chemical synthesis become another main driving factor to the industry further development. As time goes on, industries will more actively improve their operational efficiency and sustainability and versatility of the product makes it an indispensable aspect of different industries that will drive the market lithium chloride market growth.
Lithium chloride is one of the key lithium materials in lithium-ion batteries. Lithium-ion batteries possess many advantages in comparison to other battery types normally employed in cars, electronic devices and power storage systems based on renewable energy. The energy density of lithium-ion batteries is one of the reasons why a small capacity battery can last long. Due to this feature, it is a best choice for most modern time requirements like electric cars, bulie class, mobiles, and so on. Lithium-ion batteries are also characterized by the fact that they have a very low self-discharge. The cost incurred in maintenance of lithium-ion batteries is way lower than in other kind of batteries such as nickel-cadmium batteries.
Comprehensive Analysis of Lithium Chloride Market
The lithium chloride market and chemicals & advanced materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the chemicals & advanced materials industry. These segmentations are methodically segregated By Application Analysis. The market can be classified according to application into batteries, ceramics & glass, lubricants, polymer, air treatment, and others. The batteries segment represented the largest division of the market in 2022 and also forecasted to remain the biggest during the coming years. Lithium chloride is a key instance of lithium, a chemical that is chemical element used in the fabrication of batteries. Lithium-ion battery market is growing up as a result of an increasing demand from the automotive sector, electronics, and renewable energy systems. The lithium chloride, capable of the brazing flux aluminum parts used in cars, is used more and more. As a result, the mature automotive sector, where the sales of electric cars is progressively improving, is expected to be the key driver to the lithium chloride market expansion.
The market in Asia Pacific was 15.6 million tons in the year 2023. The increasing pace of industrialization in developing economies such as India and China, is not just the main driver behind the ASEAN region market but the region market as a whole. It is forecasted that we will be heavily involved with electronic and automotive industries as the region's economy continues to expand, thus contributing even more to the demand of the product.
The top players in the market play a crucial role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include, Albemarle Corporation (U.S.), Nippon Chemical Industrial Co., Ltd. (Japan), HARSHIL INDUSTRIES (India), Alfa Aesar (China), Honeywell International (U.S.), LEVERTON HELM LTD (U.K.), Suzhou Huizhi Lithium Energy Material Co. Ltd. (China), TOKYO CHEMICALS (Japan), LOBA CHEMIE (India), Altura Mining (Australia), Jiangxi Ganfeng Lithium Co. Ltd. (China), and Arena Minerals Inc. (Canada).
In October 2022, The subsidiary company of the Albemarle Corporation, namely Albemarle Lithium U. K. Limited, purchased Guangxi Tianyuan New Energy Materials Co. , Ltd., in order to supply lithium at battery-grade all over the world.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 8.5% from 2024 to 2032
Unit Volume (Million Ton)
SegmentationBy Application
Batteries
Ceramics & Glass
Lubricants
Polymer Production
Air Treatment
Others
By Geography
North America (By Application, By Country)
U.S. (By Application)
Canada (By Application)
Europe (By Application, By Country)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Rest of Europe (By Application)
Asia Pacific (By Application, By Country)
China (By Application)
India (By Application)
Japan (By Application)
Australia (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Application, By Country)
Brazil (By Application)
Argentina (By Application)
Chile (By Application)
Rest of Latin America (By Application)
Middle East and Africa (By Application, By Country)
GCC (By Application)
South Africa (By Application)
Rest of Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Trends
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Insights on Regulatory Scenario
- 4.4. PEST Analysis
- 4.5. Impact of COVID-19 on the Market
- 5. Global Lithium Chloride Market Analysis, Insights and Forecast, 2019–2032
- 5.1. Key Findings / Summary
- 5.2. By Application (Volume)
- 5.2.1. Batteries
- 5.2.2. Ceramics & Glass
- 5.2.3. Lubricants
- 5.2.4. Polymer Production
- 5.2.5. Air Treatment
- 5.2.6. Others
- 5.3. By Region (Volume)
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America
- 5.3.5. Middle East & Africa
- 6. North America Lithium Chloride Market Analysis, Insights and Forecast, 2019–2032
- 6.1. Key Findings / Summary
- 6.2. By Application (Volume)
- 6.2.1. Batteries
- 6.2.2. Ceramics & Glass
- 6.2.3. Lubricants
- 6.2.4. Polymer Production
- 6.2.5. Air Treatment
- 6.2.6. Others
- 6.3. By Country (Volume)
- 6.3.1. U.S.
- 6.3.1.1. By Application
- 6.3.1.1.1. Batteries
- 6.3.1.1.2. Ceramics & Glass
- 6.3.1.1.3. Lubricants
- 6.3.1.1.4. Polymer Production
- 6.3.1.1.5. Air Treatment
- 6.3.1.1.6. Others
- 6.3.2. Canada
- 6.3.2.1. By Application
- 6.3.2.1.1. Batteries
- 6.3.2.1.2. Ceramics & Glass
- 6.3.2.1.3. Lubricants
- 6.3.2.1.4. Polymer Production
- 6.3.2.1.5. Air Treatment
- 6.3.2.1.6. Others
- 7. Europe Lithium Chloride Market Analysis, Insights and Forecast, 2019–2032
- 7.1. Key Findings / Summary
- 7.2. By Application (Volume)
- 7.2.1. Batteries
- 7.2.2. Ceramics & Glass
- 7.2.3. Lubricants
- 7.2.4. Polymer Production
- 7.2.5. Air Treatment
- 7.2.6. Others
- 7.3. By Country (Volume)
- 7.3.1. Germany
- 7.3.1.1. By Application
- 7.3.1.1.1. Batteries
- 7.3.1.1.2. Ceramics & Glass
- 7.3.1.1.3. Lubricants
- 7.3.1.1.4. Polymer Production
- 7.3.1.1.5. Air Treatment
- 7.3.1.1.6. Others
- 7.3.2. U.K.
- 7.3.2.1. By Application
- 7.3.2.1.1. Batteries
- 7.3.2.1.2. Ceramics & Glass
- 7.3.2.1.3. Lubricants
- 7.3.2.1.4. Polymer Production
- 7.3.2.1.5. Air Treatment
- 7.3.2.1.6. Others
- 7.3.3. France
- 7.3.3.1. By Application
- 7.3.3.1.1. Batteries
- 7.3.3.1.2. Ceramics & Glass
- 7.3.3.1.3. Lubricants
- 7.3.3.1.4. Polymer Production
- 7.3.3.1.5. Air Treatment
- 7.3.3.1.6. Others
- 7.3.4. Italy
- 7.3.4.1. By Application
- 7.3.4.1.1. Batteries
- 7.3.4.1.2. Ceramics & Glass
- 7.3.4.1.3. Lubricants
- 7.3.4.1.4. Polymer Production
- 7.3.4.1.5. Air Treatment
- 7.3.4.1.6. Others
- 7.3.5. Rest of Europe
- 7.3.5.1. By Application
- 7.3.5.1.1. Batteries
- 7.3.5.1.2. Ceramics & Glass
- 7.3.5.1.3. Lubricants
- 7.3.5.1.4. Polymer Production
- 7.3.5.1.5. Air Treatment
- 7.3.5.1.6. Others
- 8. Asia Pacific Lithium Chloride Market Analysis, Insights and Forecast, 2019–2032
- 8.1. Key Findings / Summary
- 8.2. By Application (Volume)
- 8.2.1. Batteries
- 8.2.2. Ceramics & Glass
- 8.2.3. Lubricants
- 8.2.4. Polymer Production
- 8.2.5. Air Treatment
- 8.2.6. Others
- 8.3. By Country (Volume)
- 8.3.1. China
- 8.3.1.1. By Application
- 8.3.1.1.1. Batteries
- 8.3.1.1.2. Ceramics & Glass
- 8.3.1.1.3. Lubricants
- 8.3.1.1.4. Polymer Production
- 8.3.1.1.5. Air Treatment
- 8.3.1.1.6. Others
- 8.3.2. India
- 8.3.2.1. By Application
- 8.3.2.1.1. Batteries
- 8.3.2.1.2. Ceramics & Glass
- 8.3.2.1.3. Lubricants
- 8.3.2.1.4. Polymer Production
- 8.3.2.1.5. Air Treatment
- 8.3.2.1.6. Others
- 8.3.3. Japan
- 8.3.3.1. By Application
- 8.3.3.1.1. Batteries
- 8.3.3.1.2. Ceramics & Glass
- 8.3.3.1.3. Lubricants
- 8.3.3.1.4. Polymer Production
- 8.3.3.1.5. Air Treatment
- 8.3.3.1.6. Others
- 8.3.4. Australia
- 8.3.4.1. By Application
- 8.3.4.1.1. Batteries
- 8.3.4.1.2. Ceramics & Glass
- 8.3.4.1.3. Lubricants
- 8.3.4.1.4. Polymer Production
- 8.3.4.1.5. Air Treatment
- 8.3.4.1.6. Others
- 8.3.5. Rest of Asia Pacific
- 8.3.5.1. By Application
- 8.3.5.1.1. Batteries
- 8.3.5.1.2. Ceramics & Glass
- 8.3.5.1.3. Lubricants
- 8.3.5.1.4. Polymer Production
- 8.3.5.1.5. Air Treatment
- 8.3.5.1.6. Others
- 9. Latin America Lithium Chloride Market Analysis, Insights and Forecast, 2019–2032
- 9.1. Key Findings / Summary
- 9.2. By Application (Volume)
- 9.2.1. Batteries
- 9.2.2. Ceramics & Glass
- 9.2.3. Lubricants
- 9.2.4. Polymer Production
- 9.2.5. Air Treatment
- 9.2.6. Others
- 9.3. By Country (Volume)
- 9.3.1. Brazil
- 9.3.1.1. By Application
- 9.3.1.1.1. Batteries
- 9.3.1.1.2. Ceramics & Glass
- 9.3.1.1.3. Lubricants
- 9.3.1.1.4. Polymer Production
- 9.3.1.1.5. Air Treatment
- 9.3.1.1.6. Others
- 9.3.2. Argentina
- 9.3.2.1. By Application
- 9.3.2.1.1. Batteries
- 9.3.2.1.2. Ceramics & Glass
- 9.3.2.1.3. Lubricants
- 9.3.2.1.4. Polymer Production
- 9.3.2.1.5. Air Treatment
- 9.3.2.1.6. Others
- 9.3.3. Chile
- 9.3.3.1. By Application
- 9.3.3.1.1. Batteries
- 9.3.3.1.2. Ceramics & Glass
- 9.3.3.1.3. Lubricants
- 9.3.3.1.4. Polymer Production
- 9.3.3.1.5. Air Treatment
- 9.3.3.1.6. Others
- 9.3.4. Rest of Latin America
- 9.3.4.1. By Application
- 9.3.4.1.1. Batteries
- 9.3.4.1.2. Ceramics & Glass
- 9.3.4.1.3. Lubricants
- 9.3.4.1.4. Polymer Production
- 9.3.4.1.5. Air Treatment
- 9.3.4.1.6. Others
- 10. Middle East & Africa Lithium Chloride Market Analysis, Insights and Forecast, 2019–2032
- 10.1. Key Findings / Summary
- 10.2. By Application (Volume)
- 10.2.1. Batteries
- 10.2.2. Ceramics & Glass
- 10.2.3. Lubricants
- 10.2.4. Polymer Production
- 10.2.5. Air Treatment
- 10.2.6. Others
- 10.3. By Sub-Region (Volume)
- 10.3.1. GCC
- 10.3.1.1. By Application
- 10.3.1.1.1. Batteries
- 10.3.1.1.2. Ceramics & Glass
- 10.3.1.1.3. Lubricants
- 10.3.1.1.4. Polymer Production
- 10.3.1.1.5. Air Treatment
- 10.3.1.1.6. Others
- 10.3.2. South Africa
- 10.3.2.1. By Application
- 10.3.2.1.1. Batteries
- 10.3.2.1.2. Ceramics & Glass
- 10.3.2.1.3. Lubricants
- 10.3.2.1.4. Polymer Production
- 10.3.2.1.5. Air Treatment
- 10.3.2.1.6. Others
- 10.3.3. Rest of Middle East & Africa
- 10.3.3.1. By Application
- 10.3.3.1.1. Batteries
- 10.3.3.1.2. Ceramics & Glass
- 10.3.3.1.3. Lubricants
- 10.3.3.1.4. Polymer Production
- 10.3.3.1.5. Air Treatment
- 10.3.3.1.6. Others
- 11. Company Profiles
- 11.1. Albemarle Corporation.
- 11.1.1. Overview
- 11.1.2. Products & Services
- 11.1.3. Recent Developments
- 11.1.4. Strategies
- 11.1.5. Financials (based on availability)
- 11.2. Nippon Chemical Industrial CO., LTD.
- 11.2.1. Overview
- 11.2.2. Products & Services
- 11.2.3. Recent Developments
- 11.2.4. Strategies
- 11.2.5. Financials (based on availability)
- 11.3. HARSHIL INDUSTRIES
- 11.3.1. Overview
- 11.3.2. Products & Services
- 11.3.3. Recent Developments
- 11.3.4. Strategies
- 11.3.5. Financials (based on availability)
- 11.4. Alfa Aesar
- 11.4.1. Overview
- 11.4.2. Products & Services
- 11.4.3. Recent Developments
- 11.4.4. Strategies
- 11.4.5. Financials (based on availability)
- 11.5. Honeywell International
- 11.5.1. Overview
- 11.5.2. Products & Services
- 11.5.3. Recent Developments
- 11.5.4. Strategies
- 11.5.5. Financials (based on availability)
- 11.6. LEVERTON HELM LTD
- 11.6.1. Overview
- 11.6.2. Products & Services
- 11.6.3. Recent Developments
- 11.6.4. Strategies
- 11.6.5. Financials (based on availability)
- 11.7. Suzhou Huizhi Lithium Energy Material Co. Ltd.
- 11.7.1. Overview
- 11.7.2. Products & Services
- 11.7.3. Recent Developments
- 11.7.4. Strategies
- 11.7.5. Financials (based on availability)
- 11.8. TOKYO CHEMICALS
- 11.8.1. Overview
- 11.8.2. Products & Services
- 11.8.3. Recent Developments
- 11.8.4. Strategies
- 11.8.5. Financials (based on availability)
- 11.9. LOBA CHEMIE
- 11.9.1. Overview
- 11.9.2. Products & Services
- 11.9.3. Recent Developments
- 11.9.4. Strategies
- 11.9.5. Financials (based on availability)
- 11.10. Altura Mining
- 11.10.1. Overview
- 11.10.2. Products & Services
- 11.10.3. Recent Developments
- 11.10.4. Strategies
- 11.10.5. Financials (based on availability)
- 11.11. Jiangxi Ganfeng Lithium Co. Ltd.
- 11.11.1. Overview
- 11.11.2. Products & Services
- 11.11.3. Recent Developments
- 11.11.4. Strategies
- 11.11.5. Financials (based on availability)
- 11.12. Arena Minerals Inc.
- 11.12.1. Overview
- 11.12.2. Products & Services
- 11.12.3. Recent Developments
- 11.12.4. Strategies
- 11.12.5. Financials (based on availability)
- 12. Strategic Recommendations
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