BANGALORE, India, July 23, 2024 /PRNewswire/ -- Lithium Carbonate Market is Segmented by Type (Industrial Grade Lithium Carbonate, Battery Grade Lithium Carbonate): Global Opportunity Analysis and Industry Forecast, 2024-2029.

Valuates Reports Logo

The Global Lithium Carbonate market is projected to reach USD 9176.4 Million by 2030 from an estimated USD 3614.2 Million in 2024, at a CAGR of 16.8% during 2024 and 2030.

Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-6X9229/Global_Lithium_Carbonate_Market

Major Factors Driving the Growth of Lithium Carbonate Market:

The market for lithium carbonate is expanding rapidly, driven mainly by the increasing need for lithium-ion batteries in energy storage systems and electric vehicles (EVs). In order to produce lithium-ion batteries, which are necessary for the electric vehicle (EV) sector, portable gadgets, and renewable energy storage solutions, lithium carbonate is a crucial raw element. Two key factors driving the industry ahead are the move towards renewable energy sources and the growing popularity of electric vehicles. Government initiatives supporting renewable energy and consumers' growing inclination toward environmentally friendly cars also contribute to the market's expansion.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-6X9229/global-lithium-carbonate

TRENDS INFLUENCING THE GROWTH OF THE LITHIUM CARBONATE MARKET:

An essential part of making lithium-ion batteries, which are extensively used in electric vehicles (EVs), portable gadgets, and renewable energy storage systems, is battery grade lithium carbonate. The lithium carbonate industry is expanding rapidly because of the increased demand for electric vehicles (EVs) brought on by international initiatives to lower carbon emissions and rely less on fossil fuels. Large automakers are producing more electric vehicles (EVs), which necessitates the use of high-performance lithium-ion batteries. Demand for battery grade lithium carbonate is driven by the growth of the electric vehicle (EV) sector. The need for high-purity lithium carbonate is further augmented by the widespread use of portable electronics and the growing necessity for effective energy storage solutions in renewable energy applications, which is propelling the lithium carbonate market's expansion.

Lithium carbonate of industrial grade is necessary for several industrial processes, such as the making of ceramics, glass, and aluminum. Despite being less well-known than battery grade, it still plays a big part in the battery business. The manufacturing of non-rechargeable lithium batteries, which are frequently found in consumer electronics, medical equipment, and military hardware, frequently uses industrial grade lithium carbonate. The requirement for industrial grade lithium carbonate is growing as a result of these industries' expansion, which is being fueled by rising consumer demand and technical improvements. Its use in production procedures that need reliable and effective power sources further emphasizes its significance in the lithium carbonate industry. The need for industrial-grade lithium carbonate is anticipated to increase as sectors continue to innovate and flourish, supporting the industry's overall expansion.

The market for lithium carbonate is primarily driven by the increase in the use of electric vehicles (EVs). Globally, as part of larger initiatives to fight climate change and lower greenhouse gas emissions, governments are putting laws in place to promote the use of electric vehicles (EVs). Electric vehicles (EVs) are becoming more accessible and appealing to customers because of incentives including tax cuts, subsidies, and the construction of infrastructure for EV charging stations. Because of this, the car industry is producing more electric vehicles (EVs), which increases the need for lithium-ion batteries. Demand for battery grade lithium carbonate, an essential component of these batteries, is rising. This pattern is anticipated to persist as technical developments boost battery performance and lower prices, propelling the market for lithium carbonate.

Solar and wind energy are examples of renewable energy sources that are becoming more and more important to global energy strategy. To guarantee a steady and dependable power supply, these energy sources' intermittent nature calls for effective energy storage technologies. Relying on lithium carbonate, lithium-ion batteries are one of the best options for storing renewable energy. The need for high-capacity energy storage systems is increasing due to the global expansion of renewable energy projects. To accomplish sustainability targets and lessen dependency on fossil fuels, nations are making significant investments in the infrastructure and storage capacity for renewable energy. Due to its necessity in the production of batteries that store renewable energy, this expansion is driving up the price of lithium carbonate and promoting market development.

In the pharmaceutical and medical fields, lithium carbonate is also frequently utilized, mostly for the treatment of bipolar disorder and other mental health issues. The demand for drugs based on lithium is being driven by the rising global prevalence of mental health conditions. Lithium carbonate is becoming more often used in medications as knowledge and understanding of mental health issues grow. Furthermore, novel therapeutic uses of lithium carbonate are being investigated via continuing medical research and development, which might lead to an expansion of its use in the future. Thus, a key driver of the lithium carbonate market's expansion is the expanding demand from the pharmaceutical and medical industries.

Buy Now: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-6X9229&lic=single-user

LITHIUM CARBONATE MARKET SHARE ANALYSIS:

With a market share of more than 70%, Battery Grade Lithium Carbonate is the biggest product category. 

Batteries are the most widely used application, followed by lubricants, metallurgy, glass and ceramics, etc.

Key participants in the global lithium carbonate market include SQM, Ganfeng Lithium, and Albemarle. Three quarters of all manufacturers worldwide have a stake.

With a market share of over 50%, Asia Pacific is the largest market. South America and Europe come in second and third, respectively, with shares of roughly 45%.

Purchase Regional Report: https://reports.valuates.com/market-reports/QYRE-Auto-6X9229/global-lithium-carbonate/7

Key Companies:

  • SQM
  • Albemarle
  • FMC
  • Orocobre
  • Nordic Mining
  • Tianqi Lithium
  • Ganfeng Lithium
  • Ruifu Lithium
  • Weihua
  • QingHai Salt Lake Industry
  • Yahua
  • Palith
  • Tibet Mineral Development

Purchase Chapters: https://reports.valuates.com/market-reports/QYRE-Auto-6X9229/global-lithium-carbonate/1

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

-  The global lithium-ion battery market size was valued at USD 46.2 billion in 2022, and the lithium-ion battery industry is projected to reach USD 189.4 billion by 2032, growing at a CAGR of 15.2% from 2023 to 2032.

-  The global Lithium Ion Battery Separators market was valued at USD 2904 Million in 2023 and is anticipated to reach USD 3612.1 Million by 2030, witnessing a CAGR of 3.1% during the forecast period 2024-2030.

-  Aluminum Foil for Lithium-ion Battery Cathode Materials Market

-  Pharmaceutical Grade Lithium Carbonate market size is estimated to be worth USD 103.1 Million in 2022 and is forecast to a readjusted size of USD 144.6 Million by 2028 with a CAGR of 5.8% during the review period.

-  Lithium Carbonate Medical Tablets Market

-  Battery Grade Lithium Carbonate and Lithium Hydroxide Market

-  The global Lithium-ion Battery Recycling market size is projected to reach USD 24930 Million by 2028, from USD 2543 Million in 2021, at a CAGR of 38.1% during 2022-2028.

-  Lithium Battery Grade Lithium Hydroxide market was valued at USD 6997 Million in 2023 and is anticipated to reach USD 69940 Million by 2030, witnessing a CAGR of 36.2% during the forecast period 2024-2030.

-  Dimethyl Carbonate Market

-  Ethylene Carbonate Market

-  Lithium Battery Electrolyte Vinylene Carbonate（VC）Market

-  Synthetic Calcium Carbonate Market revenue was USD 14570 Million in 2022 and is forecast to a readjusted size of USD 17960 Million by 2029 with a CAGR of 3.0% during the forecast period (2023-2029).

-  The global Calcium Carbonate market is projected to reach USD 23960 Million by 2030 from an estimated USD 21200 Million in 2024, at a CAGR of 2.1% during 2024 and 2030.

-  Polycarbonate Chocolate Mold Market

-  18650 Lithium Battery market size is estimated to be worth USD 5374 Million in 2022 and is forecast to a readjusted size of USD 4691 Million by 2029 with a CAGR of -1.9% during the forecast period 2023-2029.

-  Lithium Bromide Market

-  Small Lithium-ion Battery Market

-  Butyllithium Market

-  Aluminum Foil for Lithium Battery Market was estimated to be worth USD 1678 Million in 2023 and is forecast to a readjusted size of USD 6858.4 Million by 2030 with a CAGR of 22.0% during the forecast period 2024-2030.

-  Lithium Battery Charger ICs market was valued at USD 14530 Million in 2023 and is anticipated to reach USD 33060 Million by 2030, witnessing a CAGR of 12.0% during the forecast period 2024-2030.

-  Lithium-ion Battery X-ray Inspection Equipment market is projected to reach USD 391.9 Million in 2029, increasing from USD 183.2 Million in 2022, with a CAGR of 13.0% during the period of 2023 to 2029.

-  Power Lithium Battery Structural Parts Market

-  18650 Rechargeable Lithium Battery market is projected to reach USD 4071.5 Million in 2029, increasing from USD 3745.3 Million in 2022, with a CAGR of 1.2% during the period of 2023 to 2029.

-  Lithium Battery Grade Composite Copper Foil Market

-  Conductive Carbon-coated Aluminum Foil for Lithium Batteries Market

-  Lithium Metal Primary Batteries market was valued at USD 2937 Million in 2023 and is anticipated to reach USD 3481 Million by 2030, witnessing a CAGR of 2.5% during the forecast period 2024-2030.

-  Lithium Battery Ceramic Separator Market was estimated to be worth USD 2548.1 Million in 2023 and is forecast to a readjusted size of USD 15880 Million by 2030 with a CAGR of 28.1% during the forecast period 2024-2030.

-  Lithium Gluconate Market

-  Water-based Zinc Vanadate Lithium Battery market was valued at USD 198 Million in 2023 and is anticipated to reach USD 288.4 Million by 2030, witnessing a CAGR of 4.3% during the forecast period 2024-2030.

-  LiFePo4 Battery and Ternary Lithium Battery Market

DISCOVER OUR VISION: VISIT ABOUT US!

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

YOUR FEEDBACK MATTERS: REACH OUT TO US!
Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/
Pinterest: https://in.pinterest.com/valuatesreports/
Twitter: https://twitter.com/valuatesreports
Facebook: https://www.facebook.com/valuatesreports/
YouTube: https://www.youtube.com/@valuatesreports6753
https://www.facebook.com/valuateskorean
https://www.facebook.com/valuatesspanish
https://www.facebook.com/valuatesjapanese
https://valuatesreportspanish.blogspot.com/
https://valuateskorean.blogspot.com/
https://valuatesgerman.blogspot.com/
https://valuatesreportjapanese.blogspot.com/ 

Logo - https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/lithium-carbonate-market-size-to-grow-usd-9176-4-million-by-2030-at-a-cagr-of-16-8--valuates-reports-302204389.html

Copyright 2024 PR Newswire