DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/gmtfmr/global_lithium) has announced the addition of the "Global Lithium Market 2015-2019" report to their offering.
The Global Lithium market to grow at a CAGR of 11.12% over the period 2014-2019
Lithium is a chemical element used for psychiatric medication and is recovered from three types of deposits: brines, pegmatites, and sedimentary rocks. It is extracted from brines in the form of lithium chloride. These brines are found mostly in salt flats or salt lakes. One of the commercially exploited hard rock minerals is spodumene. Lithium and its derivative compounds are used in many applications such as batteries, ceramics and glass, lubricants, metallurgical, air treatment, polymers, and other applications.
The production of electric vehicles and hybrid vehicles is an important trend upcoming in the market. Consumers are opting for green tires made from lithium solutions because they are eco-friendly and durable, provide grip, reduce carbon emissions, and are fuel-efficient.
According to the report, the use of lithium batteries in portable devices is the major contributor to the market growth. The demand for small portable and hand-held electronic devices has led to the proliferation of rechargeable lithium-ion batteries.
Further, the report states that the high investment cost for capacity expansion is one of the major challenges for the market. Technical expertise and training of personnel require additional expenses. In addition, expansion and building new production facilities require long-term investment in infrastructure such as transportation, community housing, water, and energy sources.
The Global Lithium market can be segmented based on type into:
- Lithium Carbonate
- Lithium Hydroxide
- Lithium Concentrate
- Lithium Metal
- Lithium Chloride
- Other Lithium Compounds
- Rockwood Lithium
- Sociedad Quimica y Minera de Chile
- Talison Lithium
For more information visit http://www.researchandmarkets.com/research/gmtfmr/global_lithium