Posted 2/26/2024, 1:30:00 PM
Lithium Compound Market to Surge Over $80 Billion by 2034 on Battery and Industry Demand
- Lithium compound market expected to reach $81.5 billion by 2034, fueled by demand from batteries, glass, and pharmaceuticals
- Lithium chloride is the predominant compound type, forecast to grow at 21% CAGR through 2034
- Li-ion batteries are the top application driving lithium demand, projected 20.9% CAGR
- South Korea and Japan are major Asia Pacific markets, with expected CAGRs of 23.4% and 22.9% respectively
- Key players include Sigma Lithium, Albemarle Corp, Bacanora Lithium, Neometals Ltd, and Livent