North America Lithium Compound Market Report by Type (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Lithium Chloride, Butyllithium, and Others), End-Use (Batteries, Glass and Glass Ceramics, Automotive Parts, Greases, Metallurg

North America Lithium Compound Market Report by Type (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Lithium Chloride, Butyllithium, and Others), End-Use (Batteries, Glass and Glass Ceramics, Automotive Parts, Greases, Metallurgy, Polymer, Air Treatment, and Others), and Country 2024-2032

The North America lithium compound market size reached 68,008.2 Tons LCE in 2023. Looking forward, IMARC Group expects the market to reach 169,919.3 Tons LCE by 2032, exhibiting a growth rate (CAGR) of 10.4% during 2024-2032.

Lithium is a silvery-white alkali metal, which is stored in mineral oil owing to its highly reactive and flammable nature. As a result of its corrosive nature in moist air, lithium never occurs freely. Both lithium and its compounds find several industrial applications in the production of batteries, steel and aluminum, heat-resistant glass and ceramics, grease lubricants, flux additives, automotive parts, etc. The lithium compound market in the region is being driven by the rising demand for lithium-ion batteries for devices such as laptops, mobile phones and calculators. Moreover, recent advances in the lithium battery technology has expanded its application from the healthcare sector for cardiac pacemakers to military operations for thermal batteries.

The North America lithium compound market is currently being driven by several factors. A majority of the population in the region depends on electronic gadgets, like smartphones, tablets and laptops, for communication along with other daily activities. As a result, they consistently upgrade these devices, in turn, supporting the growth of the lithium compound market. Moreover, the implementation of the Paris Agreement has stimulated the demand for electric vehicles in the region, in order to mitigate greenhouse gas (GHG) emissions. This is impacting the market positively as electric vehicles employ lithium compound products in the form of a major component. Apart from this, the booming construction sector has led to an escalated demand for different types of glass and ceramics, thereby bolstering the growth of the industry. Further, expanding application of lithium-ion batteries across the healthcare and automotive sectors is also providing a thrust to the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America lithium compound market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type and end-use.

Key Regions Analysed
United States
Canada
Mexico

Analysis for Each Country

Market by Type
Lithium Carbonate
Lithium Hydroxide
Lithium Concentrate
Lithium Metal
Lithium Chloride
Butyllithium
Others

Market by End-Use
Batteries
Glass and Glass Ceramics
Automotive Parts
Greases
Metallurgy
Polymer
Air Treatment
Others

Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles

Key Questions Answered in This Report

1. What was the size of the North America lithium compound market in 2023?
2. What is the expected growth rate of the North America lithium compound market during 2024-2032?
3. What are the key factors driving the North America lithium compound market?
4. What has been the impact of COVID-19 on the North America lithium compound market?
5. What is the breakup of the North America lithium compound market based on the type?
6. What is the breakup of the North America lithium compound market based on the end-use?
7. What are the key regions in the North America lithium compound market?