Global Lithium Hydroxide Market is predicted to reach USD 1.2381 Billion at a CAGR of 10.60% during the forecast period:

Pune, India, August 2023 /press release/- Market Research Future Published a Half Cooked Research Report on Global Lithium hydroxide Market.

Market Research Future (MRFR) has published a cooked research report on the “Global Lithium Hydroxide Market” that contains information from 2022 to 2032. The Global Lithium Hydroxide Market is estimated to register a CAGR of 10.60% during the forecast period of 2022 to 2032.

MRFR recognizes the following companies as the key players in the Global Lithium Hydroxide Market SQM, FMC Lithium, Tianqi Lithium Corporation, MGX Minerals Inc., Nemaska Lithium, and Galaxy Resources Ltd

Lithium Hydroxide Market Highlights

The Global Lithium Hydroxide Market is accounted to register a CAGR of 10.60% during the forecast period and is estimated to reach USD 1.2381 Billion by 2032.

The Lithium Hydroxide market refers to the global industry involved in the production, supply, and distribution of lithium hydroxide, a chemical compound with the formula LiOH. Lithium hydroxide is a strong base and a crucial material in the production of lithium-ion batteries, which are widely used in various applications, including electric vehicles, consumer electronics, and renewable energy storage systems. The main driver of the Lithium Hydroxide market is the increasing demand for lithium-ion batteries. With the rapid adoption of electric vehicles (EVs) and the growing use of consumer electronics and renewable energy storage systems, the demand for high-performance lithium-ion batteries has surged. Lithium hydroxide is a critical component in the cathode of these batteries, and its supply is essential to meet the growing demand in the electric mobility and energy storage sectors.

Segment Analysis

The Global Lithium Hydroxide Market has been segmented based on End Use, and Application.

Based on Application, the Market has been segmented Batteries, Ceramic Glass, Lubricant Grease, and Air conditioning. batteries dominate the market and are predicted to continue their dominance. The legislative push towards adopting non-renewable energy sources, the need for alternative clean fuels, enhanced fuel efficiency, and carbon emission reduction requirements, along with the growing demand for energy resources, are all contributing to a favorable climate for the battery industry. As a critical component in lithium-ion batteries, Lithium Hydroxide's demand is expected to remain high, driven by the increasing adoption of electric vehicles and renewable energy storage systems.

Based on End Use, the market is segmented into Automotive, Electrical & Electronics, Marine, Aerospace. The automotive category generates the highest income in this market. Lithium Hydroxide is gaining popularity among automotive companies, which is expected to positively impact market growth. For example, the growing popularity of electric vehicles (EVs) has led companies like BMW Group to establish contracts with suppliers like Ganfeng Lithium, a Chinese business that extracts lithium, to secure a supply of Lithium Hydroxide for battery cells.

Regional Analysis

The Global Lithium Hydroxide Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Lithium Hydroxide Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Lithium Hydroxide Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Lithium Hydroxide Market comprises of Middle East, Africa, and Latin America.

The North American Lithium Hydroxide market is expected to take the lead in the global market, primarily due to the increasing production of lithium-ion batteries across the region. Additionally, the growing electronics industry in North America will further contribute to the market's growth in this region.

In Europe, the Lithium Hydroxide market holds the second-largest market share, mainly driven by the growing adoption of electric vehicles in the region. Among European countries, the German Lithium Hydroxide market currently holds the largest market share, while the UK Lithium Hydroxide market is experiencing the fastest growth within the European region.

In the Asia-Pacific region, the Lithium Hydroxide market is expected to achieve the fastest compound annual growth rate (CAGR) from 2023 to 2032. This growth can be attributed to the rise in research and development activities aimed at producing advanced batteries.

Key Findings of the Study

• The Global Lithium Hydroxide Market is expected to reach USD 1.2381 Billion by 2032, at a CAGR of 10.60% during the forecast period.


• The U.S Lithium Hydroxide market has emerged as the fastest-growing market within the North America region, indicating a rapid expansion of Lithium Hydroxide usage and demand in India.


• Based on Application, the Market has been segmented into High Rise Building holding the largest market in 2022.


• SQM, FMC Lithium, Tianqi Lithium Corporation, MGX Minerals Inc., Nemaska Lithium, and Galaxy Resources Ltd.

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