Lithium chloride is a compound produced by reacting hydrochloric acid with lithium carbonate. It possesses unique property of exceptional solubility in polar solvents. It acts as a typical ionic compound as well as brazing flux for aluminum in automobile applications. Lithium chloride is a raw material used in the electrolysis of lithium metal. It is used a desiccant for drying air streams. Lithium chloride is also used as additive in organic synthesis.
Based on end-user industry, the global lithium chloride market can be classified into automotive, electrical & electronics, biomedical, aerospace & defense, and others. Electrical & electronics applications include tablets, smartphones, power tools, and cordless phones.
Lithium chloride is used in golf carts, buses, forklifts, wheelchairs, bikes, etc. in automotive applications. It is employed in portable solar energy storage and stationary energy storage in energy storage applications.
The global lithium chloride market expanded significantly in 2017. This trend is estimated to continue during the forecast period. North America is a key region of the lithium chloride market, owing to the presence of the expanding aerospace and defense industries in the region. Germany, the U.K., and France are some of the key countries in Europe, led by the presence of an expanding automotive and defense sectors in these countries.
Rise in population, increase in urbanization, and changes in lifestyle are projected to boost the lithium chloride market in Asia Pacific during the forecast period. Demand for lithium chloride is high in China, India, and Japan in the region. The lithium chloride market in Latin America and Middle East & Africa is likely to expand at a significant pace during the forecast period, owing to the recent economic progress in these regions.
Key players operating in the global lithium chloride market include SQM, Albemarle Corp, Galaxy Resources, FMC Corp, and Sichuan Tianqui.
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