Lithium Ingots Market Forecast, Trend Analysis & Competition Tracking - Global Review 2021 to 2031
Lithium ingots are considered to the primary products derived post exploration and refining the lithium mines. Lithium ingots are considerably inexpensive owing to the cost of producing the product. Moreover, extensive integration of the product as an electrode in Electric Vehicles (EVs). Economical and technical significance of the product is high over its utilization as an anode in batteries. Batteries drive the demand for the lithium has become a universal fact. Therefore, long-run growth of the product in the market is highly aligned with the batteries market growth. Over the past half-decade, lithium prices have fluctuated by a major variance creating a major imbalance of supply and demand of the product in the market. Low prices of the lithium over the same decade has forced few stakeholders of the market to liquefy their assets. Market has seen major bubbles over the period of 2017-2019, which has exploded spilling the beans of the unstable lithium ingot market across the regions.
Lithium ingots are available in bundle of sizes and can be delivered according to the client’s request. Moreover, varying purity of the ingot produced and delivered to the client is also based on the requirements provided by the end-user. Custom delivered products by the manufacturers to the clients portray an image of strong collaboration among manufacturers and consumers across the globe. Moreover, price of the product also depends on the production method used by the firm to manufacture the ingots. Few production types available among the manufacturers are solid-state, crystallization and other ultra-high refinement processes such as sublimation.
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Lithium Ingots Market: Key Players
Being a moderately consolidated Lithium Ingots market, players have a dominant presence across regions through efficient distribution networks. American Elements, Shandong Delon Lib Co., Ltd, Parad Co. Pvt. Ltd, Semyung India Enterprises Pvt. Ltd, Albemarle, Alfa Aesar, Aviation Lithium Technology – Livent, Shanghai Xinglu Chemical Technology Co., Ltd and other key players are amongst the prominent players in Lithium Ingots market accounting for over 70% of the market revenues.
Segmentation Analysis of Lithium Ingots Market:
The global lithium ingots market divided into 4 segments: By product type, by product size, end-users and regions.
On the basis of product type, Lithium Ingots market has been segmented as follows:
- 2N
- 3N
- 4N
- 5N
On the basis of product size, Lithium Ingots market has been segmented as follows:
- 70*45mm
- 100*140mm
- 100*250mm
- 125*250mm
- 130*250mm
On the basis of end-users, Lithium Ingots market has been segmented as follows:
- Aerospace Industry
- Automotive Industry
- Aluminium Industry
- Others
On the basis of Regions, Lithium Ingots market has been segmented as follows:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
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Automotive Industry to Stir the Demand for the Lithium Ingots Market
Automotive industry has been a backbone to the lithium ingots market. Growth in demand of the lithium ingots is highly proportional to the automotive market growth especially electric vehicles market growth. Over the past-half decade, market has hardly diversified which is set to portray an image of minimal market dynamics over the short-run forecast period. Electric Vehicle manufacturers such as Tesla, Hyundai, Toyota and others are ramping up their facilities which is set to cascade the effect to the lithium rods market. All in all, automotive industry is set to provide a positive stance to the lithium ingots market growth.
Lithium Ingots Market: COVID-19 Impact Insights
Covid-19 has negatively impacted the lithium ingots market. Due to covid-19 pandemic, almost all countries has shut-down their plants and inventories. So, the growth from the past few months was constricted for Lithium Ingots market as compared to the previous years. COVID-19 has not only affected the trade but also investments across the industry. Lower investor confidence with respect to the growing tensions across the global lithium products trade has affected the market of lithium ingots by a larger extent.
Extensive application of the lithium ingots in automotive application is set to face a major back lash in FY2021 owing to the lower sales of automotive which is set to lower the manufacturing of the same cascading the effect to lithium ingots.
Assessing the market in terms of consumer behavior, Electric vehicles use lithium ingots and the vehicles are tend to be quite expensive than the conventional gasoline vehicles. Lower spending and higher savings is set to disrupt the consumer basket orientation which is set to lower the overall market valuation of Electric Vehicles. This effect is set to provide a domino effect over integral elements used in electric vehicle including lithium ingots.
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Lithium Ingots Market: Regional Outlook
Based on regions, the report lithium ingots market takes into six different regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. Asia-Pacific is the dominant region in the global lithium ingots market. China and India are the main key players in the Asia-Pacific region. The companies such as Shandong Delon Lib Co. Ltd, Shanghai Xinglu Chemical Technology Co. Ltd, Parad Co. Pvt. Ltd and Semyung India Enterprises Pvt. Ltd is conquering the Asia-Pacific lithium ingots market. Lithium ingot is Li-ion battery material and li-ion batteries are used in advanced electric vehicles. So electric vehicles has dynamic impact over lithium ingots market. In terms of electric vehicle production in the world, China has so far been on top.
The Lithium Ingots Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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The Lithium Ingots Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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