The global lithium market size is projected to reach USD 8.24 billion by the end of 2027. The increasing investments in lithium extraction methods have opened up a flexible applications scope. According to a report published by Fortune Business Insights, titled “Lithium Market Size, Share & Industry Analysis, By Product (Carbonate, Hydroxide, Others), By Application (Batteries, Glass & Ceramics, Lubricant, Medical, Polymers, Metallurgy, Others), and Geography Forecast, 2020-2027,” the market was worth USD 4.09 billion in 2019 and will exhibit a CAGR of 9.2% during the forecast period, 2020-2027.
Lithium is a chemical element that is present in natural substances such as rocks. The material is approved for use in several industry verticals, including chemical, electrical, healthcare, and automotive. Accounting to the exceptional properties of lithium, it has been excessively used in applications that require high efficiency as well as durability. The properties such as resistance to external factors and low cost of the product cater to flexible applications. The increasing applications and subsequently rising demand for the product across the world will bode well for the growth of the overall lithium market in the coming years. Moreover, the presence of several large scale companies in several countries across the world will emerge in favor of the growth of the global market.
Covid-19 Pandemic Proving Damaging for Lithium Manufacturing Sectors
The recent coronavirus outbreak has had a damaging impact on several businesses across the world, with SMEs amongst the categories the worst-hit sectors. As several businesses have come to a complete halt, it is evident that the measures taken to minimize the spread of the disease have ultimately affected several industries across the world.
The shortage of manual labor and workforce has been daunting to manufacturers in the lithium market in the past few months. Due to the lack of available laborers, production units have been put on hold. This has resulted in severe economic losses across the world. Having said that the resumptions in business operations, although within constrained boundaries, will provide hope to the companies that have hugely suffered at the hands of the pandemic.
Accounting too Massive Potential for Growth, Companies turn to Strategic Collaborations
The report encompasses several factors that have contributed to the growth of the market in recent years. The rising demand for lithium and lithium derivatives have resulted in a strong competition on the global stage. This makes it even more difficult for the companies that are essentially under the SME bracket. As a result, several mid-scale companies are looking to collaborate with other businesses in the mid-range as well as large scale sectors. In August 2020, Cornish Lithium announced that it will be collaborating with Geothermal Engineering (GEL) for a new lithium manufacturing plant. The companies will develop a geo-thermal Li recovery plant in Cornwall. This unit will deal with extraction of Li for use in power storage batteries for electric vehicles. Increasing number of such initiatives will have a massive impact on the growth of the overall market in the coming years.
List of companies profiled in the report:
- FMC Corporation (India)
- Albemarle Corporation (U.S.)
- SQM S.A. (Chile)
- Tianqi Lithium (Australia)
- International Lithium Corp. (China)
- LSC Lithium Corporation (Canada)
- American Lithium Corp. (Canada)
- Livent (U.S.)
- Avalon Advanced Materials (Canada)
- Sayona Mining Limited (Australia)
- Other Key Players
Information Source:
https://www.fortunebusinessinsights.com/lithium-market-104052
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The global lithium market size is projected to reach USD 8.24 billion by the end of 2027.
According to a report published by Fortune Business Insights, titled “Lithium Market Size, Share & COVID-19 Impact Analysis, By Product (Carbonate, Hydroxide, Others), By Application (Batteries, Glass & Ceramics, Lubricant, Medical, Polymers, Metallurgy, Others), and Geography Forecast, 2020-2027,” the market was worth USD 4.09 billion in 2019 and will exhibit a CAGR of 9.2% during the forecast period, 2020-2027.Lithium is a chemical element that is present in natural substances such as rocks.
The material is approved for use in several industry verticals, including chemical, electrical, healthcare, and automotive.
The properties such as resistance to external factors and low cost of the product cater to flexible applications.
The increasing applications and subsequently rising demand for the product across the world will bode well for the growth of the overall lithium market in the coming years.
Moreover, the presence of several large scale companies in several countries across the world will emerge in favor of the growth of the global market.Covid-19 Pandemic Proving Damaging for Lithium Manufacturing SectorsThe recent coronavirus outbreak has had a damaging impact on several businesses across the world, with SMEs amongst the categories the worst-hit sectors.
The global nanocomposites market size is projected to reach USD 14.34 billion by the end of 2027.
The presence of several large-scale companies will contribute to the growth of the market in the coming years.
The properties of nanocomposites such as good electric conductivity, high thermal stability, and excellent mechanical strength have fuelled the demand for the product across the world.
Covid-19 Pandemic to Create Several Growth Opportunities for Nanocomposite BusinessesThe recent coronavirus outbreak has had a massive impact on several economies across the globe.
The efforts taken to curb the spread of the disease have limited the growth of the businesses across the world.
Due to the increase in deliveries across food supplies and other industries will emerge in favor of market growth.
Global graphene market size is expected to gain momentum by reaching USD 2,864.1 million by 2027 while exhibiting an astounding CAGR of 39% between 2020 and 2027.
This information is published by Fortune Business Insights, in its latest report, titled, “Graphene Market Size, Share & COVID-19 Impact Analysis, By Product (Graphene Oxide (GO), Graphene Nanoplatelets (GNP), Others), By End-Use (Electronics, Aerospace & Defense, Automotive, Energy, Others), and Geography Forecast, 2020-2027.” The report further mentions that the market stood at USD 225.1 million in 2019 and is projected to rise in the forthcoming years.Increasing Adoption of Graphene Products amid COVID-19 to Favor GrowthThe novel coronavirus has led to disruptions amongst several global economies owing to a complete halt in operations and activities to contain the spread of the disease.
Owing to multiple benefits provided by the product, it is being extensively adopted across several industrial applications that are expected to contribute to the growth of the market.Study Period: 2016-2027 Base Year: 2019 Forecast Period: 2020-2027 Historical Period: 2016-2018 List of the Leading Companies Operating in the Graphene Market are:XG Sciences (U.S.)Graphenea, Inc. (U.S.)ACS Material, LLC (U.S.)CVD Equipment Corporation (U.S.)Global Graphene Group (U.S.)AMO GmbH (Germany)Applied Graphene Materials plc (UK)Graphene One (U.S.)Grolltex Inc. (U.S.)DIRECTA PLUS S.p.A. (Italy)CHINA CARBON GRAPHITE INC (China)NanoXplore Inc. (Canada)Thomas Swan & Co. Ltd. (UK)Other Key PlayersGraphene is primarily a single layer of carbon atoms that are tightly bound in a hexagonal honeycomb mesh.
They further posses several attributes such as light-weight, high tensile strength, and good conductor of heat.
Additionally, they provide sustainable solutions to an array of applications that propels their demand across several industries globally.This Research Report Provides Features Like;Discover regional market opportunities and trendsIdentify emerging market demand & dynamicsMarket intelligence with quality and accuracyDeliverable formats like PDF, PPT, cloud, etcBenchmark against competitors & global industryExplore competitive strategy & market shareWhat does the Report Include?The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth.
It includes the competitive landscape that involves leading companies and the strategies adopted by these companies which have resulted in the introduction of several new products as well as major company collaborations.
