Global Lithium Sulfide Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lithium Sulfide Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Lithium sulfide, molecular formula: Li2S, is a sulfide of lithium, molecular weight: 45.95. Lithium sulfide is a product specially designed for the use in high performance batteries which can be either applied as electrode material or as precursor for solid electrolytes. It as an electrode material not only has high capacity but also overcomes many problems caused by pure sulfur electrodes.

Market Overview:

The latest research study on the global Lithium Sulfide market finds that the global Lithium Sulfide market reached a value of USD 43.72 million in 2022. It’s expected that the market will achieve USD 1047.2 million by 2028, exhibiting a CAGR of 69.78% during the forecast period.

Lithium Sulfide Market Forecast Under COVID-19

The production of COVID-19 enterprises is in trouble, facing threats from supply chain interruption, rising costs and many other aspects. However, as an electrolyte and electrode material, the development of the terminal market of lithium sulfide has brought it opportunities, such as consumer batteries. In 2020, the demand for consumer batteries will increase in COVID-19, but the demand will remain stable in the long run. In recent years, the mobile phone market tends to be saturated. In 2020, the global smartphone shipments declined, but the overall situation remained stable.
5G leads the tide of machine change, and new scenes foster new markets. Under the situation that the consumer battery market tends to be saturated and stagnant, with the landing of 5G commercial and the rise of Internet of Things devices, the high-end digital battery field represented by flexible batteries, high-rate digital batteries and high-end digital soft-package batteries is driven by wearable devices, drones, high-end smart phones and other market segments, and will become a high-growth market segment in the consumer electronic battery market. On the whole, the traditional business of consumer electronic batteries is relatively stable, and the emerging application market continues to be active. With the continuous enrichment of battery application scenarios, the emerging consumer battery market may show a booming trend.
The continuous growth of the electric vehicle industry
The continued growth of electric vehicle sales is influenced by a number of factors: fuel economy and market-set emissions targets, urban traffic restrictions, and government financial incentives. For example, the government has offered cash subsidies to consumers who buy low-emission cars, reduced taxes on electric vehicles and increased or maintained taxes on internal-combustion vehicles.
Specifically, in Europe, driven by factors such as the gradual tightening of carbon emission policies and the continued subsidy policy, the sales and penetration rate of new energy vehicles in Europe have maintained an upward trend. In the United States, benefiting from a series of incentive policies such as the

Clean Energy Proposal issued after the Biden administration came to power, the production, sales and penetration rate of new energy vehicles in the United States began to accelerate. In China, due to the continuous introduction of major new energy models by major auto companies and the rapid increase in the acceptance of new energy vehicles, new energy vehicles have gradually shifted from policy subsidy-driven to market-driven, and production, sales and penetration rates have maintained a rapid increase. Looking forward to the future, with the continuous improvement of the cruising range of new energy vehicles, the rapid improvement of infrastructure such as charging piles and charging stations, the continuous advancement of the carbon neutrality process in various countries, and the gradual withdrawal of major car companies from the production and development of fuel vehicles. Under the combined effect of many factors, the global sales of new energy vehicles will maintain a rapid growth trend.

Disadvantages of lithium sulfide in the preparation of batteries

Lithium-sulfur batteries are a type of lithium batteries, which is a type of lithium battery with sulfur as the positive electrode of the battery and metal lithium as the negative electrode. Elemental sulfur is extremely rich in reserves on the earth, with the characteristics of affordable price and green environmental protection. However, lithium sulfide still has the following disadvantages and its development is limited:
The conductivity of elemental sulfur and its discharge end product lithium sulfide is very poor, resulting in low utilization rate of active substances and poor kinetic performance, which seriously affects the high rate performance of the battery.
The lithium polysulfide that occurs during the battery charging operation has relatively large final solubility in the ether electrolyte, which will be transferred to the surface layer of the negative electrode and self-discharge reaction will occur again, resulting in low coulomb efficiency.
Lithium sulfide can react with the anode of lithium metal to form lithium sulfide and be deposited in its surface layer, resulting in the loss of active substances and the deterioration of the performance of the negative electrode; Unable to react to sulfur or high-order polysulfides that cannot be reversed during charging, the capacitance is lost like never before.
The volume change of sulfur during battery charging operation is relatively large, which can damage the structural characteristics of the positive electrode and stable performance.

Region Overview:

Geographically, China held the largest market share – 31.84% in 2022.

Company Overview:

Albemarle is one of the major players operating in the Lithium Sulfide market, holding a share of 36.72% in 2023.

Albemarle

Albemarle, headquartered in Charlotte, NC, is a specialty chemicals company with positions in lithium, bromine and refining catalysts. It power the potential of companies in many of the large and critical industries, from energy and communications to transportation and electronics.

Hangzhou Kaiyada Semiconductor Materials Co., Ltd.

Kaiyada has been focusing on the research and development, production and sales of new semiconductor materials such as high purity elements and high purity compounds. Based on the realization of the high purity tellurium - tellurium compounds industry chain, kaiada continuously develops and markets the cutting-edge materials needed.

Segmentation Overview:

As for product types, the 99.9% segment held the largest market share in 2022.

Application Overview:

By application, the Electrolyte Material segment occupied the biggest share from 2018 to 2022.

Electrolyte Material

Compared with oxide and polymer electrolyte, lithium sulfide electrolyte has higher ionic conductivity and is an ideal electrolyte material for solid-state batteries.

Electrode Material

Sulfur is used as the positive electrode of the battery and lithium is used as the negative electrode. Sulfur is abundant in the earth, and has the characteristics of low price and environmental friendliness. Using sulfur as cathode material, its theoretical specific capacity and theoretical specific energy of battery are higher.

Key Companies in the global Lithium Sulfide market covered in Chapter 3:

Hangzhou Kaiyada Semiconductor Materials Co., Ltd.
Stanford Advanced Materials (SAM)
Ganfeng Lithium Co
Lorad Chemical Corporation
American Elements
Materion
Albemarle
Hefei Kejing Material Technology Co., Ltd.
Chengdu CNBM Optoelectronic Materials Co., Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Lithium Sulfide market from 2018 to 2029 is primarily split into:

99.9%
99.99%
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lithium Sulfide market from 2018 to 2029 covers:

Electrolyte Material
Electrode Material
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)