Lithium Hydroxide Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Lithium Hydroxide (LiOH) is an inorganic compound that is insoluble in water and partially soluble in ethanol. It is commercially available as a monohydrate (LiOH.H2O) and in anhydrous form, both of which are strong bases. On the basis of purity level, it is also available in battery grade and technical grade. Lithium hydroxide is manufactured by means of a metathesis reaction between calcium hydroxide and lithium carbonate and it finds extensive use in battery manufacturing and as an industrial lubricant. Owing to improved properties of lithium hydroxide, as compared to other concentrates, it is mostly preferred in new battery technologies. Besides, there is a potential market for lithium hydroxide in rechargeable battery manufacturing. The compound is also majorly used in production of industrial greases such as lithium stearate, a popular lubricating grease that offers excellent thermal resistance. However, owing to its indispensable use in these industries along with difficulties in sourcing and manufacturing, the compound is available at significantly high prices. Furthermore, the supply-demand gap prevalent in the industry due to lack of supply and growing demand is expected to further push prices upwards. Lithium hydroxide on being heated produces toxic fumes which act as potential restraint for the market growth. According to CMI analysis, the worldwide demand for lithium hydroxide is forecast to expand at a healthy rate in the foreseeable future. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/344 In recent years, demand for lithium hydroxide has been dominated by its use in lubricant grease application and the trend is expected to continue over the next few years. However, the emergence of nickel cobalt aluminum oxide (NCA) cathode use for power tool batteries and later transportation is expected to surpass the growth of lubricant grease application segment in the latter half of the forecast period. Rapidly growing power generation industry in Asia Pacific region, together with increasing establishment of manufacturing facilities are expected to drive demand for lithium hydroxide in the region. Furthermore, setting up of Tesla Gigafactory in the U.S. is another major factor that is expected to drive demand in the North American market.