The North America lithium compound market size reached 68,008.2 Tons LCE in 2023. Looking forward, the publisher expects the market to reach 169,919.3 Tons LCE by 2032, exhibiting a growth rate (CAGR) of 10.7% during 2023-2032.
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.
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?
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:
The publisher 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. The 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?
Table of Contents
1 Preface3 Executive Summary13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Lithium Compound Market
6 North America Lithium Compound Market
7 North America Lithium Compound Market: Breakup by Type
8 North America Lithium Compound Market: Breakup by End-Use
9 North America Lithium Compound Market: Breakup by Country
10 SWOT Analysis
11 Value Chain Analysis
12 Porter’s Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Methodology
LOADING...
