The global
lithium hydroxide market is expected to post a CAGR of more than 13%
during the period 2019-2023, according to the latest market research report by
Technavio.
Lithium-ion batteries are widely used in portable devices due to
their high energy-to-weight ratios. The growing adoption of mobile electronics
such as smartphones, laptops, and tablets is increasing the demand for
lithium-ion batteries. Lithium-ion batteries also offer better energy density
than nickel-cadmium (NiCd) and nickel-metal hydride (NiMH) batteries. They are
also used in various medical devices such as automatic external defibrillators,
surgical saws, drills, robotic inspection systems, infusion pumps, and others.
The increasing use of lithium-ion batteries in such devices is expected to fuel
the growth of the market during the forecast period.
As per Technavio, adoption of Lithium Hydroxide in the grease
manufacturing process will have a positive impact on the market and contribute
to its growth significantly over the forecast period. This research report also
analyzes other important trends and market drivers that will affect market
growth over 2019-2023.
Global Lithium Hydroxide Market: Adoption of Lithium Hydroxide
In Grease Manufacturing
Grease manufacturers are increasing the use of lithium hydroxide
as it helps them reduce the consumption of energy, water, and time. They are
adopting lithium hydroxide dispersion technology to produce lithium and lithium
complex greases based on a variety of base oils. The adoption of this
technology is revolutionizing the grease manufacturing process and offering
several benefits to end-users.
Global Lithium Hydroxide Market: Segmentation Analysis
This market report segments the global lithium hydroxide
market by application (battery, lubricating greases,
ceramics and glass, and others) and geography (APAC, Europe, MEA, North
America, and South America).
The APAC region led the market in 2018, followed by North
America, Europe, South America, and MEA respectively. During the forecast
period, the APAC region is expected to maintain its dominance over the global
market. This is due to the growing adoption of EVs in China, India, and
Indonesia.
Technavio’s sample reports are free of charge and contain
multiple sections of the report, such as the market size and forecast, drivers,
challenges, trends, and more.
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