North America Lithium Compound Market Report by Type (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Lithium Chloride, Butyllithium, and Others), End-Use (Batteries, Glass and Glass Ceramics, Automotive Parts, Greases, Metallurgy, Polymer, Air Treatment, and Others), and Country 2024-2032
The North America lithium compound market size reached 68,008.2 Tons LCE in 2023. Looking forward, IMARC Group expects the market to reach 169,919.3 Tons LCE by 2032, exhibiting a growth rate (CAGR) of 10.4% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
68,008.2 Tons LCE
Market Forecast in 2032
169,919.3 Tons LCE
Market Growth Rate 2024-2032
10.4%
Lithium is a silvery-white alkali metal, which is stored in mineral oil owing to its highly reactive and flammable nature. As a result of its corrosive nature in moist air, lithium never occurs freely. Both lithium and its compounds find several industrial applications in the production of batteries, steel and aluminum, heat-resistant glass and ceramics, grease lubricants, flux additives, automotive parts, etc. The lithium compound market in the region is being driven by the rising demand for lithium-ion batteries for devices such as laptops, mobile phones and calculators. Moreover, recent advances in the lithium battery technology has expanded its application from the healthcare sector for cardiac pacemakers to military operations for thermal batteries.
The North America lithium compound market is currently being driven by several factors. A majority of the population in the region depends on electronic gadgets, like smartphones, tablets and laptops, for communication along with other daily activities. As a result, they consistently upgrade these devices, in turn, supporting the growth of the lithium compound market. Moreover, the implementation of the Paris Agreement has stimulated the demand for electric vehicles in the region, in order to mitigate greenhouse gas (GHG) emissions. This is impacting the market positively as electric vehicles employ lithium compound products in the form of a major component. Apart from this, the booming construction sector has led to an escalated demand for different types of glass and ceramics, thereby bolstering the growth of the industry. Further, expanding application of lithium-ion batteries across the healthcare and automotive sectors is also providing a thrust to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the North America lithium compound market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type and end-use.
Batteries, Glass and Glass Ceramics, Automotive Parts, Greases, Metallurgy, Polymer, Air Treatment, Others
CountriesCovered
United States, Canada, Mexico
Customization Scope
10% Free Customization
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10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The North America lithium compound market reached a volume of 68,008.2 Tons LCE in 2023.
We expect the North America lithium compound market to exhibit a CAGR of 10.4% during 2024-2032.
The rising demand for lithium compounds to produce batteries, steel and aluminum, heat-resistant glass and ceramics, grease lubricants, flux additives, automotive parts, etc., is primarily driving the North America lithium compound market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the region, resulting in the temporary closure of various end-use industries for lithium compounds.
Based on the type, the North America lithium compound market has been segregated into lithium carbonate, lithium hydroxide, lithium concentrate, lithium metal, lithium chloride, butyllithium, and others. Currently, lithium carbonate holds the largest market share.
Based on the end-use, the North America lithium compound market can be bifurcated into batteries, glass and glass ceramics, automotive parts, greases, metallurgy, polymer, air treatment, and others. Among these, batteries exhibit a clear dominance in the market.
On a regional level, the market has been classified into United States, Canada, and Mexico, where United States currently dominates the North America lithium compound market.
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