Global Lithium Hydroxide Market 2019-2023 | Adoption of Lithium Hydroxide in Grease Manufacturing to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 8, 2019--
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. Request a free sample report
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Technavio has announced its latest market research report titled global lithium hydroxide market 2019-2023. (Graphic: Business Wire)
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.
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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.
“Capacity expansions and increasing preference for renewable energy are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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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.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Technavio Research
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PUB: 11/08/2019 11:00 AM/DISC: 11/08/2019 11:01 AM