#Lithium Hexafluorophosphate Market
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Lithium Hexafluorophosphate Market Share, Trends, Forecast 2022-2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global lithium hexafluorophosphate market size at USD 3.46 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global lithium hexafluorophosphate market size to grow at a significant CAGR of 12.83% reaching a value of USD 7.14 billion by 2029. Major growth drivers for the global lithium hexafluorophosphate market include rising demand for lithium-ion batteries in various industries, fueled by growing population, modern lifestyles, and automotive product demand. Consumer electronics' widespread use, such as smartphones and laptops, also plays a pivotal role. Governments' focus on pollution management and clean energy solutions further contributes to the rising demand for lithium hexafluorophosphate. As they emphasize sustainable practices, the adoption of lithium-ion batteries is expected to expand, driving the market's growth in the forecast period. However, fluctuating prices of raw materials and environmental and safety concerns are anticipated to restrain the overall market growth during the period in analysis.
Global Lithium Hexafluorophosphate Market – Overview
The global lithium hexafluorophosphate market includes the production, distribution, and consumption of lithium hexafluorophosphate (LiPF6) worldwide. LiPF6 is an essential electrolyte component in lithium-ion batteries used in various applications like consumer electronics, electric vehicles (EVs), and energy storage systems. The market involves manufacturers, suppliers, and research for enhancing LiPF6 and battery technologies. Key drivers of the market include the rising demand for electric vehicles, renewable energy integration, technological advancements in battery chemistry, and government initiatives for clean energy solutions. The market's size and demand are influenced by the growth of industries relying on lithium-ion batteries and the evolving battery technologies in the global energy storage landscape.
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Impact of COVID-19 on Global Lithium Hexafluorophosphate Market
COVID-19 pandemic adversely affected the global lithium hexafluorophosphate market. During the pandemic, various industries, including automotive and consumer electronics, experienced disruptions in production and supply chains, leading to reduced demand for lithium-ion batteries that use lithium hexafluorophosphate. Additionally, lockdowns and travel restrictions resulted in a slowdown in EV adoption and renewable energy projects, further affecting the market's growth. However, as economies gradually recover and industries resume operations, the demand for EVs and renewable energy solutions is expected to rebound, positively influencing the lithium hexafluorophosphate market's recovery and future growth.
Global Lithium Hexafluorophosphate Market – By Application
By application, the global lithium hexafluorophosphate market is divided into Automotive, Sports, Chemical, Construction, Defense, Ceramic, Aerospace, and Wind Energy industries. The automotive segment holds the highest share in the global lithium hexafluorophosphate market by application due to the increasing demand for electric vehicles (EVs) worldwide. As governments and consumers prioritize sustainable transportation solutions, EV adoption has surged. Lithium hexafluorophosphate (LiPF6) plays a crucial role as an electrolyte component in lithium-ion batteries, which power EVs. Also, advancements in battery technology, coupled with supportive policies and incentives, have further boosted the automotive sector's reliance on LiPF6. The transition toward cleaner and greener transportation solutions has driven the demand for lithium hexafluorophosphate in the automotive industry, contributing to its dominant position in the market.
Competitive Landscape
Major players operating in the global lithium hexafluorophosphate market include Arkema, Abtonsmart Chemicals (Group) Co. Ltd, Honeywell International, Kum Yang Co., Ltd, Otsuka Chemical, Weifang Yaxing Chemical Co. Ltd., Ajanta Chemical Industries, Jingliang Hangsun Plastic Additives Co, Ltd, Abtonsmart Chemicals (Group) Co., Ltd, Jiangxi Selon Industrial Stock, Do-fluoride Chemicals, Tianjin Jinniu, Kanto Denka Kogyo, Foosung, and Stella Chemifa. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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Lithium Fluoride Prices Trend, Monitor, News, Analytics and Forecast | ChemAnalyst
Lithium Fluoride Prices: During the Quarter Ending December 2023
North America
In Q4 2023, the Lithium Fluoride market in North America maintained stability despite a bearish market outlook, characterized by moderate supply. Weak demand persisted in the downstream lithium hexafluorophosphate market for cathode active material (CAM) manufacturing, driving purchases based on necessity rather than eagerness. Market sentiments stabilized overall, with Asian market players maintaining firm procurement rates.
Demand from the automotive industry remained steady, while domestic Lithium Fluoride supply stayed moderate, experiencing a slight decline in imports. The weak demand from the downstream lithium hexafluorophosphate market for CAM production persisted due to ample material availability domestically.
Price changes from the previous year's Q4 indicated a 60% decrease, with a 30% decrease from the previous quarter. The price comparison between the first and second half of the quarter showed a 3% decline. The latest price of Lithium Fluoride CIF New York Port in the USA for the current quarter stood at USD 57500/MT, with no reported plant shutdowns.
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APAC
In Q4 2023, the Lithium Fluoride market in the APAC region remained stable, characterized by high supply and low to moderate demand. Market sentiments for Lithium Fluoride stabilized in the Indian domestic market, with a marginal increase in prices. China experienced a bullish market situation with moderate supply and a slight demand improvement from the downstream automotive industry. Slight price increments were observed due to increased cost support from the upstream anhydrous hydrofluoric acid market. Procurement rates in China remained low amid sufficient material availability.
Price changes in China from the previous year's Q4 indicated a 55% decrease, with a 25% decrease from the previous quarter. The price comparison between the first and second halves of the quarter in China showed a 1% increase. The quarter-ending price of Lithium Fluoride FOB Guangdong in China for Q4 2023 was USD 54500/MT. No significant developments were noted in the APAC Lithium Fluoride market during the quarter.
Europe
The Lithium Fluoride market in Europe exhibited a mixed pricing trend in Q4 2023, initially experiencing declines due to weak demand from the downstream sector, low import prices, and limited inquiries. Belgium saw consistent price decreases, mainly due to decreased demand from battery manufacturing, particularly in the lithium hexafluorophosphate industry, alongside subdued consumer inquiries. Deteriorated business sentiments across Europe contributed to a prolonged downward pricing trend for Lithium Fluoride.
The sluggish state of business, as indicated by the HCOB Eurozone Manufacturing PMI, exacerbated the market decline. Additionally, the European chemicals market witnessed decreases due to low demand and increasing energy prices. Battery manufacturers showed a lack of enthusiasm in expanding their orders, prioritizing long-term orders amid anticipation of further price reductions. Lithium Fluoride supply remained moderate in Europe, with consistent imports by market participants.
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Lithium Hexafluorophosphate Market Key Players, Industry Overview, Applications and Analysis 2032
Lithium hexafluorophosphate, or LiPF6, is a chemical compound commonly used as an electrolyte in lithium-ion batteries. It is a salt composed of lithium cations (Li+) and hexafluorophosphate anions (PF6-), and it is typically dissolved in an organic solvent to create an electrolyte solution.
LiPF6 is a popular choice for lithium-ion batteries due to its high solubility in organic solvents, which allows for high ionic conductivity and high energy density. It also has good thermal stability, which is important for ensuring the safety of the battery during use. However, LiPF6 can be reactive with water and other contaminants, which can lead to the production of toxic and flammable gases.
To mitigate these risks, LiPF6 is typically handled and stored with care, and manufacturers of lithium-ion batteries often use specialized equipment and procedures to ensure its safe use. There are also ongoing efforts to develop alternative electrolyte materials that can offer similar or better performance with lower risks.
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Despite these challenges, LiPF6 remains an important component of many lithium-ion batteries, which are used in a wide range of applications, from portable electronics to electric vehicles. As demand for more efficient and sustainable energy solutions continues to grow, LiPF6 and other materials used in lithium-ion batteries are likely to remain a key focus of research and development in the coming years.
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What is the structure of a lithium ion cell?
Lithium ion cells have now become the mainstream of the market, so what is the structure of Lithium ion cells? Here Xinghai Energy tells you the answer.
Lithium ion cell are composed of four important parts: positive electrode, negative electrode, non-aqueous electrolyte and diaphragm. Among them, the positive electrode and negative electrode contain active electrode substances, conductive agents, binders, etc., which are evenly coated on the copper and aluminium foil collector fluid.
1. Positive electrode
The positive electrode active substance is generally lithium manganate or lithium cobaltate, lithium nickel cobalt manganate materials, electric bicycles are commonly used lithium nickel cobalt manganate or ternary + a small amount of lithium manganate, pure lithium manganate and lithium iron phosphate are gradually fading out due to large size, poor performance or high cost. Conductive electrode fluids use electrolytic aluminium foil with a thickness of 10 - 20 microns.
2. Diaphragm
The diaphragm is a specially formed polymer film with a microporous structure that allows lithium ions to pass freely, but not electrons.
3.Negative electrode
The active material of the negative electrode is graphite, or carbon with a structure similar to graphite, and the conductive collector is an electrolytic copper foil of 7-15 microns thickness.
4.Non-aqueous electrolyte
The organic electrolyte has a lithium hexafluorophosphate carbonate solvent, while the polymeric one uses a gel electrolyte.
5. Battery casing
The battery casing is divided into steel, aluminium, nickel-plated iron), aluminium-plastic film, etc. There is also a battery cap, which is also the positive and negative lead end of the battery.
Lithium ion cell cathode potential is high, often embedded lithium transition metal oxide, or polyanionic compounds; lithium ion cell negative material is usually carbon materials; lithium ion cell electrolyte is important for non-aqueous solution, by organic mixed solvent and lithium salt composition, where the solvent is mostly carbonic acid and other organic solvents, lithium salt is mostly monovalent polyanionic lithium salts, such as lithium hexafluorophosphate; lithium ion cell diaphragm is mostly polyethylene, poly Polypropylene microporous film, to isolate the positive and negative material, to prevent electrons through the short circuit caused by, at the same time can let the electrolyte ions through the use of.
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Lithium Hexafluorophosphate Market Research Report 2023 - Industry Size, Share, Demands, Regional Analysis & Estimations Till 2028
The Lithium Hexafluorophosphate Market Report, in its latest update, highlights the significant impacts and the recent strategical changes under the present socio-economic scenario. The Lithium Hexafluorophosphate industry growth avenues are deeply supported by exhaustive research by the top analysts of the industry. The report starts with the executive summary, followed by a value chain and marketing channels study. The report then estimates the CAGR and market revenue of the Global and regional segments.
Base Year: 2021
Estimated Year: 2022
Forecast Till: 2023 to 2028
The report classifies the market into different segments based on type and product. These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels. The segment analysis is helpful in understanding the growth areas and potential opportunities of the market.
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A special section is dedicated to the analysis of the impact of the COVID-19 pandemic on the growth of the Lithium Hexafluorophosphate market. The impact is closely studied in terms of production, import, export, and supply.
The report covers the complete competitive landscape of the Worldwide Lithium Hexafluorophosphate market with company profiles of key players such as:
Abtonsmart Chemicals (Group) Co., Ltd.
Ajanta Chemical Industries
Arkema
Do-Fluoride Chemicals Co., Ltd.
Foosung Co. Ltd.
Formosa Plastics Corp.
Guangzhou Tinci Materials Technology Co., Ltd.
Honeywell International
Jiangsu Jiujiu Technology Co., Ltd
Jiangxi Selon Industrial Co., Ltd.
JingJiang Hangsun Plastic Additives Co., Ltd.
Kanto Denka Kogyo Co., Ltd.
Kum Yang Co., Ltd.
Morita Chemical Industries Co., Ltd.
Otsuka Chemical America, Inc.
Stella Chemifa Corporation
Weifang Yaxing Chemical Co., Ltd.
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Lithium Hexafluorophosphate Market Analysis by Product Type:
Pitch Based
PAN Based
Rayon Based
Lithium Hexafluorophosphate Market Analysis by Applications:
Automotive Industry
Sports Industry
Chemical Industry
Construction Industry
Defense Industry
Ceramic Industry
Aerospace Industry
Wind Energy
Lithium Hexafluorophosphate Market Analysis by Geography:
North America (USA, Canada, and Mexico)
Europe (Germany, UK, France, Italy, Russia, Spain, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South-East Asia, Rest of Asia-Pacific)
Latin America (Brazil, Argentina, Peru, Chile, Rest of Latin America)
The Middle East and Africa (Saudi Arabia, UAE, Israel, South Africa, Rest of the Middle East and Africa)
Key questions answered in the report:
What is the expected growth of the Lithium Hexafluorophosphate market between 2023 to 2028?
Which application and type segment holds the maximum share in the Global Lithium Hexafluorophosphate market?
Which regional Lithium Hexafluorophosphate market shows the highest growth CAGR between 2023 to 2028?
What are the opportunities and challenges currently faced by the Lithium Hexafluorophosphate market?
Who are the leading market players and what are their Strengths, Weakness, Opportunities, and Threats (SWOT)?
What business strategies are the competitors considering to stay in the Lithium Hexafluorophosphate market?
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Lithium Hexafluorophosphate Market Size will grow at a CAGR During 2021-2027
Lecithin is a substance or a mixture of phosphatides which is predominantly made up of phosphatidyl ethanolamine, phosphatidyl serine, phosphatidylcholine, and phosphatidyl inositol coupled with numerous other substances such as carbohydrates and fatty acids. It also comprises of nitrogenous and phosphorous compounds. These are generally found in vegetables, soya bean, egg yolk, and a naturally occurring emulsifier. They are non-toxic in nature and hence can be utilized in food, nutrition & supplements, animal feed, and pharmaceuticals & personal care as aerating agents, lubricants, emulsifiers, and viscosity modifiers.
Some of the prominent factors that positively influence the growth of the lecithin market are increasing agricultural activities in emerging economies, rising consumer spending on personal care products, and growing consumption of convenience foods. Furthermore, rising consumer awareness along with increasing health concerns has raised the demand for phospholipids, which in turn has raised the consumption of lecithin based medical products, which is further predicted to drive the growth of the market. Increasing sports and physical activities along with growing number of gym and fitness clubs has propelled the demand for nutrition & supplement, which in turn is predicted to fuel the growth of the market over the forecast period. Moreover, rising population along with increasing production of high-quality crops has resulted in the production of lecithin which is estimated to propel the growth of the market. However, fluctuating price of lecithin in the global market is predicted to hinder the growth of the market.
Market Segmentation:
The global lecithin market is segmented on the basis of source, application, and region. On the basis of source, the market is categorized into sunflower, soya bean, egg, and others. Others source include rice and maize. Among these, soya bean accounted for the largest market share in 2016 and holds for around 45% market share due to the wide utilization of these in the production of lecithin. Moreover, increasing demand for sunflower, rice, egg yolks, and various food used to manufacture lecithin is anticipated to enhance the demand for pharmaceutical further which is likely to propel the growth on the market. On the basis of application, lecithin market is further segmented into pharmaceuticals & personal care, food, animal feed, nutrition & supplements, and others. Pharmaceuticals & personal care segment is estimated to grow with the healthy CAGR due to increasing awareness regarding the lecithin along with the wide use of personal care products in the developing countries.
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Competitive analysis:
The major players operating in the lecithin market are Archer Daniels Midland Company (U.S.), Cargill Incorporated (U.S.), American Lecithin Company (U.S.), Lipoid GmbH (Germany), DuPont (U.S.), Bunge Limited (U.S.), Stern-Wywiol Gruppe GmbH & Co. Kg (Germany), Avanti Lipids Polar, Inc. (U.S.), Lasenor Emul S.L. (Spain), Lecico GmbH (Germany), Vav Life Sciences Private Limited (India) among others.
Regional Analysis:
Europe is estimated to be the largest market for lecithin followed by North America and Asia Pacific due to rising demand from numerous end-use industries such as cosmetics, pharmaceutical & personal care, and agriculture among others. Asia Pacific lecithin market is estimated to witness a strong growth owing to the continuous growth of various end-use applications. In Asia Pacific, some of the prominent factors which contribute to the regional market growth are increasing economic growth rate, competitive manufacturing costs, and ease of availability of raw material. North America is estimated to witness a steady growth over the forecast period on account of increasing demand from the nutrition & supplements application. Developing countries of Latin America and the Middle East and Africa is predicted to witness moderate growth due to increasing end use application.
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Research On World Lithium Hexafluorophosphate Market Report 2022
Report on World Lithium Hexafluorophosphate Market by Product Type, Market, Players and Regions-Forecast to 2024 by DecisionDatabases.com
Lithium Hexafluorophosphate market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.
The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
The report includes the forecasts, Analysis and discussion of important industry trends, market size, market share estimates and profiles of the leading industry Players.
Final Report will cover the impact of COVID-19 on this industry.
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The Players mentioned in our report
Morita Chemical
Foosung
Kanto Denka
Central Glass
Formosa Plastics
Morita Chemical(Zhangjiagang)
Do-Fluoride Chemicals
Jinniu Power Sources Materials
JIUJIUJIU Technology
Stella Chemifa
Tinci Materials Technology
Hongyuan Pharmaceutical
Global Lithium Hexafluorophosphate Market: Product Segment Analysis
Lithium hexafluorophosphate powder
Lithium hexafluorophosphate solution
Global Lithium Hexafluorophosphate Market: Application Segment Analysis
consumer electronic devices
Global Lithium Hexafluorophosphate Market: Regional Segment Analysis
USA
Europe
Japan
China
India
South East Asia
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There are 10 Chapters to deeply display the World Lithium Hexafluorophosphate market.
Chapter 1 About the Lithium Hexafluorophosphate Industry
Chapter 2 World Market Competition Landscape
Chapter 3 World Lithium Hexafluorophosphate Market share
Chapter 4 Supply Chain Analysis
Chapter 5 Company Profiles
Chapter 6 Globalisation & Trade
Chapter 7 Distributors and Customers
Chapter 8 Import, Export, Consumption and Consumption Value by Major Countries
Chapter 9 World Lithium Hexafluorophosphate Market Forecast through 2024
Chapter 10 Key success factors and Market Overview
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Other Reports by DecisionDatabases.com:
World Lithium Iron Phosphate (LiFePO4) Market by Product Type, Market, Players and Regions-Forecast to 2023
World N-Butyllithium Market Research Report 2025 (covering USA, Europe, China, Japan, India, South East Asia and etc)
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Lithium Hexafluorophosphate Market Industry Research Report Analysis Competitive Scenario Insights Competitive Landscape and Trends by Forecast 2027
Industry Overview:This Lithium Hexafluorophosphate Market Research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of Lithium Hexafluorophosphate Market. Detailed analysis is explained and given importance to with best working models.
Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of Lithium Hexafluorophosphate Market during the forecast period of 2018 to 2027 is well explained.
Industry Key Players:FPC,Do-fluoride Chemicals,Tianjin Jinniu,Tinci,Jiujiujiu,Kanto Denka Kogyo,Foosung,Chuo-glass,Stella Chemifa,MORITA,Central Glass,Formosa Plastics.
Industry Growth rate:Increasing demand of batteries from the automotive industries has driven the market for Lithium Hexafluorophosphate. The Lithium Hexafluorophosphate is majorly used in the batteries; however, increasing demand from the parent company will automatically increase the demand for Lithium Hexafluorophosphate. The demand for Lithium Hexafluorophosphate in the US and Canada market is very high due to the large number of vehicle owners and in these region four wheeler vehicles are more preferred. People now days prefer rechargeable batteries due to its high drain application, increased environmental and economic benefits, however, considering from the manufacturers’ side, they are having a huge opportunity to capture the market by increasing the production of Lithium Hexafluorophosphate.
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Lithium Hexafluorophosphate Prices Trend, Monitor, News, Analytics and Forecast | ChemAnalyst
Lithium Hexafluorophosphate Prices: During the Quarter Ending December 2023
North America
During the fourth quarter of 2023, the North American Lithium Hexafluorophosphate market encountered significant challenges. Oversupply of the product led to a bearish sentiment, driven by ample inventories and competitive imports. Demand from downstream sectors like battery and cathode manufacturing remained subdued, resulting in minimal inquiries and tepid procurement.
Moreover, the underperformance of the lithium carbonate market further exacerbated the downward price trend of lithium hexafluorophosphate. Among North American countries, the United States witnessed notable pricing fluctuations. Throughout Q4, consumer reluctance toward new purchases persisted, given the abundant material availability domestically.
Overall, the North American Lithium Hexafluorophosphate market grappled with challenges in Q4 2023, including oversupply, weak demand, and the subdued performance of the upstream lithium carbonate market. The lack of enthusiasm for procurement in downstream sectors contributed to limited inquiries and exacerbated market conditions.
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APAC
The fourth quarter of 2023 saw a bearish trend in Lithium Hexafluorophosphate pricing in the APAC region, characterized by high supply and low demand. Influencing factors included high inventories, sluggish procurement, and the poor performance of the upstream lithium carbonate market. China, experiencing significant pricing changes, observed a 2.8% increase in January 2024, despite adequate supply and moderate demand.
The quarter trended bearishly, with a -71% change from the same quarter last year and a -51% change from the previous quarter in China. The primary reason for this bearish trend was the high market inventories, slowing procurement, and consumer destocking. The weakened upstream lithium carbonate market also contributed to negative sentiment.
Europe
In the fourth quarter of 2023, the European Lithium Hexafluorophosphate market faced considerable challenges. Declining demand from the downstream battery industry for cathode active materials (CAM) manufacturing was notable, influenced by weakened business sentiments and economic uncertainties. Additionally, decreased prices of lithium hydroxide, an upstream product, negatively impacted cost support and manufacturing costs for lithium hexafluorophosphate.
The European market was further affected by weakness in the Chinese market, intensifying bearish sentiments. Among European countries, Belgium and Germany experienced significant changes in lithium hexafluorophosphate prices. Consumer reluctance toward new purchases persisted, reflecting ample material availability domestically.
In summary, the Lithium Hexafluorophosphate market in Europe faced challenges in Q4 2023, marked by weak demand, reduced cost support, and the impact of low-priced imports. Despite steady sales in the electric vehicle segment, notable price declines were observed, mirroring overall bearish market conditions.
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Lithium Hexafluorophosphate Market by Top Manufacturers with Production, Price, Revenue (value) and Market Share to 2022
Lithium Hexafluorophosphate Market by Top Manufacturers with Production, Price, Revenue (value) and Market Share to 2022
MarketResearchNest.com adds “Asia-Pacific Lithium Hexafluorophosphate Market Report 2017”new report to its research database. The report spread across 115 pages with multiple tables and figures in it. This report studies the Asia-Pacific Lithium Hexafluorophosphate market status and outlook of global and major regions, from angles of manufacturers, regions, product types and end industries;…
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2017 Global Lithium Hexafluorophosphate Market analysis and Industry Forecast
2017 Global Lithium Hexafluorophosphate Market analysis and Industry Forecast
Global Lithium Hexafluorophosphate market research report gives a brief summary of definitions, applications, types and leading key players/manufacturers of Lithium Hexafluorophosphate industry. It provides all-inclusive, proficient, and profound analysis of Lithium Hexafluorophosphate market. In-depth analysis of Lithium Hexafluorophosphate market from the year 2012 to 2017, different assets,…
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Ethylene Carbonate Market - Global Industry Analysis
In 2021, the Global Ethylene Carbonate Market is expected to be worth over USD 782.51 million, with a CAGR of over 9% during the forecast period.
In recent years, the Ethylene Carbonate Market has grown. With the rise in demand for electric vehicles (EVs) and device manufacturing units, lithium battery and lithium consumption have increased, resulting in favourable growth in the ethylene carbonate market.
The organic compound ethylene carbonate has the formula (CH2O)2CO. Ethylene glycol and carbonic acid carbonate ester are the two classifications. Ethylene carbonate is a transparent crystalline solid that is almost odourless and colourless at room temperature and is just slightly soluble in water. The market for ethylene carbonate is divided into three categories: application, end-user industry, and region. The market is divided into Lithium Batteries, Lubricants, Medical Products, Intermediates and Agents, and Other Applications based on application. The market is divided into four end-user industries: automotive, pharmaceutical, oil and gas, and other end-user industries. The market size and predictions for the ethylene carbonate market in 15 countries across significant regions are also covered in the report. Market sizing and forecasting for each segment have been done on the basis of volume (kilo tons).
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The global ethylene carbonate market is largely consolidated, with a few key manufacturers controlling a sizable piece of it. BASF SE, Huntsman International LLC, Mitsubishi Chemical Corporation, OUCC, and Merck KGaA are only a few of the significant firms (in no particular order).
Market Developments
*Lithium-ion batteries are increasingly using ethylene carbonate as an electrolyte. A graphite anode, a lithium metal oxide cathode, and an electrolyte solution doped with a lithium solution, such as lithium hexafluorophosphate in a mixed organic solvent, which is commonly ethylene carbonate, make up a modern lithium-ion battery (LIB).
*The emergence of new and exciting areas for both commercial and industrial applications has raised Li-ion battery demand. In recent years, the need for Li-ion batteries has expanded in the data centre and material handling industries, particularly in emerging markets.
*According to EV Volumes, global electric vehicle sales will reach 6750 thousand units in 2021, up from 3240 thousand units in 2020.
*There has been a tremendous rise in electric car demand as a result of government limits on fossil fuel engines, which is having a substantial impact on lithium battery demand.
*The need for batteries is being driven by the growing number of electronics, growing demand for mobiles, expanding energy saving sources, and technical improvements in developed nations, which is likely to boost the market for ethylene carbonate throughout the forecast period.
Read More : https://www.zionmarketresearch.com/news/ethylene-carbonate-market
#Ethylene Carbonate Market Share#Ethylene Carbonate Market#Ethylene Carbonate Market Trend#Ethylene Carbonate Market Forecast
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