Lithium is a highly demanded material. The popularity of this metal is primarily due to the characteristics of this metal and its compounds. Some of the characteristics of this material are that it has the highest electrochemical potential of all metals, a very high co-efficient of thermal expansion, acting as a viscosity modifier in melts, fluxing and catalytic. The industry of Lithium Sulfate has been booming since its launch in the market in the year 2000. The uses of the product have been the biggest market driver for this industry. Some of the applications of Lithium Sulfate are rechargeable batteries in portable electronic devices and electric transportation. Lithium-ion batteries are used for power for cell phones, power tools, smartphones, tablets, computers, laptop and many other devices that help consumers to work on the go. Lithium-ion batteries are also used in bigger format for electric cars, buses, forklifts, scooter, electric bikes and other forms of transportation to provide power.
The biggest driver of this market is the low cost of Lithum batteries. Lithum is found in bounties in Chile, Australia and Argentina. The Chile-based Sociedad Quimica y Minera, American FMC Lithium and Albermarle are the largest producers of Lithium. These industries collectively produce almost 80% of the world’s total Lithium consumption. Chinese manufacturing giants Quinghai Lithium and Citic Guoan MGL also contribute largely to this industry. The Chinese market in this industry is expected to grow at a CAGR of 17% over 2014-2019. Other important players of this market are A123 Systems LLC BYD Co. Ltd., China BAK Battery Co. Ltd., Coslight Technology International Group, LG Chem, Panasonic Corp., Samsung SDI Co. Ltd., Sinopoly Battery Ltd, Sony Corp. and Tianjin Lishen Battery Co. Ltd.
Some of the latest application of Lithium Sulphate has been in the field of automobiles. A manufacturer in China Johnson Controls has come up with a new form of battery that increases fuel efficiency of a car by almost 8%. Electric cars are the next big thing. The launch of such cars would increase the use of Lithium Sulphate and consequently boost this industry at large. Other ventures utilising Lithium in today’s world are grid energy storage, nuclear and solar energy generation, and other industrial uses. Lithium-ion batteries are also used extensively by manufacturing plant. There are also other initiatives being taken for the development of this industry. New investments in this field are a welcome and also studies relating to development of this industry.
In order to explore this market further one can refer to the Market Research Report on Global and Chinese Lithium sulfate Industry, 2009-2019@ http://www.rnrmarketresearch.com/market-research-report-on-global-and-chinese-lithium-sulfate-industry-2009-2019-market-report.html .