The growing demand for lithium foils for energy storage and batteries is the major factor influencing the growth of the market.
NEW YORK, NY, USA, Jan. 11, 2022 /EINPresswire.com/ – The global lithium foil market is expected to reach $ 184.37 billion by 2028, according to a new report from Reports and Data. Lithium is a soft silvery metal and the lightest of all metals on earth. Lithium is kept in oil to control corrosion as the metal gradually reacts in water and air where it eventually forms a black oxide layer. Lithium finds application as an alloying agent with aluminum and magnesium. Lithium is used in the manufacture of batteries. Lithium and its compounds also find applications in the production of glass and ceramics.
It is estimated that an increase in the implementation of lithium foils in batteries used in various end-use products like electric vehicles, smart clothing, IoT devices and RFID tags, among others, will stimulate demand for the Marlet.
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North America is one of the major revenue generating regions in the market with a growth rate of 9.0% throughout the forecast period. This can be attributed to the rapid technological developments in the region which have created an increase in demand for lithium foil, especially in energy storage and battery applications. Developments in the field of nuclear science in the region have also given a boost to market demand.
Major participants include American Elements, Central Electronics Ltd., FMC, Novosibirsk, Chemetall, CNNC Jianzhong, Ganfeng Lithium, Tianqi Lithium, Hongwei Litium and Albemarle, among others.
Other key findings from the report suggest
Product type 3N is expected to contribute the largest market share with 9.1% CAGR growth rate throughout the forecast period.
Laminated lithium foils are expected to dominate in volume terms over the forecast period due to their widespread application in end-use products.
On the basis of the applications, the segment of energy storage and batteries is expected to occupy the largest market share due to the extensive use of lithium foils in batteries, which find huge applications in large electronics. public, automotive and network storage.
The Asia-Pacific market is expected to contribute the largest market share with a CAGR of 9.1% during the forecast period owing to the rapid growth of the consumer electronics industry and the industry. energy. The recent growth in the deployment of electric vehicles is further fueling the market growth in this region.
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For the purpose of this report, reports and data have segmented the global lithium foil market on the basis of product type, type, shape, standard thickness, application, and region:
Product type (volume, kilotons; and revenue, in millions of dollars; 2018-2028)
Application Outlook (Volume, Kilotons; and Revenue, USD Million; 2018-2028)
Energy storage and batteries
Research & Laboratory
Pharmaceuticals and intermediates
Lubricants and greases
Ceramic & Glass
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Regional Outlook (Volume, Kilotonnes; and Revenue, USD Million; 2018-2028)
Highlights from the table of contents of the report:
Economic impact on industry
COVID-19 impact assessment
Estimation of production and income by region
Production, consumption, export / import by region
Production, turnover, price evolution by type and application
Analysis of manufacturing and production costs
Industrial chain analysis
Market forecast to 2028
To identify key industry trends, click on the link below:
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