Asia Pacific Lithium Hydroxide Market Overview:
Lithium hydroxide is a white crystalline compound. This is an inorganic compound of the formula LiOH. The product is slightly soluble in ethanol and slightly soluble in water. LiOH is usually available in anhydrous form with strong bases. It is commonly used to absorb carbon dioxide gas, which is used especially in spacesuits. Increasing LiOH consumption in the manufacture of Portland cement and ceramics will expand the market size.
Further, the Asia Pacific Lithium Hydroxide market is segmented by application, end-user, and geography. Based on the application the market is segmented into batteries, glass, ceramics, lubricant, medical, and polymers. Based on the end-user the market is segmented into automotive, electrical & electronics, marine, and aerospace. By geography, the market covers the major countries in the Asia Pacific i.e., India, China, Japan, Australia, and the Rest of Asia Pacific for each segment, the market sizing and forecasts have been done on the basis of value (in USD Million).
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COVID-19 Impact on Asia Pacific Lithium Hydroxide market:
The Asia Pacific Lithium Hydroxide market has been significantly impacted by the COVID-19 outbreak. Facilities for the production of Asia Pacific Lithium Hydroxide have been put on hold because of the global economic downturn and a labour shortage. The COVID-19 pandemic has caused a sizable and protracted decline in production utilisation, and staff have been kept away from their facilities by travel bans and facility closures, which will slow the growth of the Asia Pacific Lithium Hydroxide market in 2020. On the other hand, the negative effects of COVID-19 on the market for Asia Pacific Lithium Hydroxide are anticipated to be transient, and the industry is anticipated to quickly recover by early 2021 due to strong demand for Asia Pacific Lithium Hydroxide.
Asia Pacific Lithium Hydroxide Market Segmentation:
By the end user The market is divided into automotive, electrical & electronics, marine, and aerospace segments based on the end-user. During the forecast period, the market for Asia Pacific high-performance electric vehicles is anticipated to grow at a CAGR of 25.21%. The development of high-performance electric vehicles can be significantly accelerated by raising public awareness of vehicle emissions, such as CO2, lowering operating and maintenance costs, and expanding government initiatives to promote the use of electric vehicles.
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Asia Pacific Lithium Hydroxide Market Key players:
Ganfeng Lithium Co. Ltd (China)
Sorbead India (India)
National Aluminum Company Limited (India)
Tosoh Corporation (Japan)
Union Showa K.K (Japan)
Tianqi Lithium Corporation (China)
Honeywell International Inc (USA)
R. Grace & Co. (USA)
The presence of the Asia Pacific Lithium Hydroxide market in various sectors and nations is thoroughly examined in the study. The research analyst intends to conduct a thorough geographic analysis of the industry in order to find untapped development potential that businesses in different parts of the world may use. Research on the Asia Pacific Lithium Hydroxide market provides precise data that assists market participants in successfully competing with their most significant rivals in terms of growth, sales, and other important factors. In the research study, significant market elements like market drivers and obstacles are separated from crucial development prospects and industry trends.
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