The Global Lithium Foil Market is expected to reach USD 184.37 Billion by 2028, according to a new report by Reports and Data. Lithium is a soft, silver metal, and is the lightest of all the metals on the earth. Lithium is kept under oil to check corrosion as the metal reacts gradually in water and in air where it ultimately forms a black coating of oxide. Lithium finds application as an alloying agent with aluminum and magnesium. Lithium is used in the manufacturing of batteries. Lithium and its compounds also find applications in the production of glass and ceramics.
Lithium Foil Market Size – USD 92.70 Billion in 2020, Growth – CAGR of 9.0%, Trends – Increasing demand in pharmaceutical sector.
North America is one of the key revenue generating region in the market with a growth rate of 9.0% throughout the forecast period. This can be attributed to rapid technological developments in the region which has created a surge in demand for lithium foil especially in the energy storage and battery application. Developments in the field of nuclear science in the region has also given a push to the market demand.
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Further key findings from the report suggest
- 3N product type is expected to contribute to the largest market share with a growth rate of CAGR 9.1% throughout the forecast period.
- Rolled lithium foils are expected to dominate the in terms of volume in the forecast period because of its widespread application in end-use products.
- Based on application, the energy storage and Battery segment is projected to occupy the largest market share due to the extensive use of lithium foils in batteries which find huge application consumer electronics, automotive and grid storage.
- Asia Pacific market is project to contribute to the largest market share with a CAGR of 9.1% in the forecast period owing to a rapid growth in consumer electronics sector and energy sector. The recent growth in the deployment in electric vehicles is further fuelling the growth of the market in this region.
- Key participants include American Elements, Central Electronics Ltd., FMC, Novosibirsk, Chemetall, CNNC Jianzhong, Ganfeng Lithium, Tianqi Lithium, Hongwei Litium and Albemarle among Others.
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Product Type (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
- Energy Storage & Batteries
- Research & Laboratory
- Nuclear Energy
- Pharmaceuticals & Intermediate
- Lubricants & Greases
- Ceramics & Glass
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
The Lithium Foil market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Lithium Foil market.
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Lithium Foil market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Lithium Foil market over the forecast years?
- Which are the leading players in the global Lithium Foil market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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