#Lithium #Hydroxide #Market #Worth #USD #Million
New York, USA, Oct. 26, 2022 (GLOBE NEWSWIRE) — Lithium Hydroxide Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Lithium Hydroxide Market Information by Application, End-Use & Forecast – Forecast till 2027”, the market is estimated to grow at a 10.6% CAGR to reach USD 967.4 Million by 2027.
Market Scope:
White, crystalline, and hygroscopic, lithium hydroxide is an organic chemical. It is typically obtained as a monohydrate, which is another name for strong bases that have lost their water of hydration. It dissolves easily in water but not in ethanol. Its high energy density, thermal resistance, long lifespan, and low maintenance requirements are all advantages. It can be synthesized from a variety of materials, including brines and petroleum hard rocks. Manufacturers in several nations have perfected their production methods in response to its low cost. The production of lubricants, greases, batteries, and energy storage all rely on lithium hydroxide. Additionally, it finds application in ceramics production and air filtration technology.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 967.4 Million |
| CAGR | 10.6% (2021–2027) |
| Base Year | 2020 |
| Forecast Period | 2021–2027 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Application, by End-Use & Forecast |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising demand for electrical batteries in automobile and electronic applications |
| The constant support from the government by way favorable policies are giving a boost |
Competitive Dynamics:
In addition, participants are concentrating on R&D projects to better position themselves in the market. In order to stay competitive in the worldwide markets, all…
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