The global lithium carbonate (Li2CO3) market has witnessed rapid growth at a CAGR of 11.1% over the past half-decade. However, due to the ongoing outbreak of COVID-19, battery production has taken a hit and has cascaded the effect to the lithium carbonate market.
The market has reopened in a few regions such as Europe and East Asia, but the demand for lithium carbonate has not seen a significant rise. However, on the brighter side, the market is set to reach its original pace by the 2nd quarter of 2021, and global demand is set to gain pace and witness an uptake at a CAGR of nearly 11% during the forecast period (2020-2030).
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Key Takeaways from Lithium Carbonate Market Study:
The global lithium carbonate market is anticipated to create a value opportunity of around US$ 3.9 Bn during the forecast period, adding 2.8X more value as compared to 2020.
Li-Ion battery application is set to dominate market revenue in the year 2020, and is expected to gain 700 BPS in its market share by the year 2030 over 2020.
Key Players to Dominate Lithium Carbonate Market:
The global lithium carbonate market is highly consolidated in nature, with key players such as SQM and Albemarle leading the market space. The penetration of new entrants in this market is highly unlikely, owing to thin prices and diseconomies of scale. Speculative demand has higher payoffs in the short term as compared to long-term demand.
Lithium Carbonate Market Segmentation:
Fact.MR has studied the lithium carbonate market with a detailed segmentation on the basis of purity, grade, application, and key regions.
· By Purity :
- 5% – 99.4%
- 5% – 99.8%
- 9%
· By Grade :
- High Purity
- Battery
- Pharmaceutical
· By Application :
- Li-ion batteries
- Glass & Ceramics
- Cement Manufacturing
- Aluminum Production
- Pharmaceutical Industry
- Others
· By Region :
- North America
- Europe
- East Asia
- South Asia & Oceania
- Rest of the World
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The Global Lithium Carbonate Market research answers important questions, including the following:
1. Why Global Lithium Carbonate Market players are focusing on the business expansion in region?
2. Which regulatory authorities have granted approval to the application of Global Lithium Carbonate Market
3. What are the pros and cons of the Global Lithium Carbonate Market the environment?
4. Why players are targeting the production of segment?
5. What are the strategies implemented by emerging players in the global Global Lithium Carbonate Market?
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