Lithium Hydroxide in Battery Market to See Upswing with EV Vehicle Boom

Published On : 06 Feb 2019

Lithium hydroxide (LiOH) is a water insoluble, partially soluble in ethanol inorganic compound. It is available commercially as a monohydrate in anhydrous form (LiOH.H2O), both of which are strong foundations. It is also available in battery and technical classes on the basis of its purity level. Lithium hydroxide is produced by metathesis between lithium carbonate and calcium hydroxide and is used extensively as an industrial lubricant and as a battery. Due to the improved characteristics of lithium hydroxide, it is preferred in new battery technologies in comparison to other concentrates. Also, there is a highly potential market for lithium hydroxide in the production of rechargeable batteries over the coming years.

Emerging Regions to Generate High Demand

The lithium hydroxide demand has dominated the last years through their application in lubricant graft, and it is anticipated that this trend will continue in the coming years. However, the growth in the lubricant grain application segment is expected to be outweighed by the emerging use of the cathode of nickel cobalt aluminum oxide (NCA) for the power tool batterys and subsequent transport.

A fast-growing energy generating industry is anticipated to boost demand for lithium hydroxide in the region together with the growing establishment of production facilities. In addition, Tesla Gigafactory is established in the United States. It is another major driver that the North American market is expected to drive demand.

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Use in Multiple Industries to Boost Growth

The compound is also used mainly to produce industrial grates such as lithium stearate, a popular graft that offers excellent thermal strength. However, the compound is available at significantly high prices, thanks to its indispensable use in these industries and its difficulty in procurement and production. Moreover, due to lack of supply and growing demand, the supply-demand gap prevailing in the industry will further drive up prices. Once heated, lithium hydroxide produces toxic fumes that can reduce the market growth.  

The global demand for lithium hydroxide is forecasted to grow at a healthy rate for the foreseeable future. In addition, increasing international industrialization expects to evoke a demand for lithium hydroxide power tools that require NCA cathode. In addition, rising global demand is expected to boost lithium hydroxide consumption. Vendors on the battery market for global lithium hydroxide are now working on increasing their capacity to meet the increased demand for lithium hydroxide.

Leading vendors operating in the global lithium hydroxide for batteries market are Jiangxi Dongpeng New Materials Co. ltd., Shandong Ruifu Lithium, Leverton Lithium, Sichuan Brivo lithium Materials Co. ltd., Sociedad Quimica Minera (SQM), and FMC Corporation.

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