Reports And Data
Increasing demand of lithium foils for energy storage and batteries is the major factor influencing market growth.
NEW YORK CITY, NEW YORK, UNITED STATES, July 20, 2022 /EINPresswire.com/ -- The Global Lithium Foil Market is expected to reach USD 184.37 Billion by 2028, according to a new report by Reports and Data. Lithium is a soft, silver metal, and is the lightest of all the metals on the earth. Lithium is kept under oil to check corrosion as the metal reacts gradually in water and in air where it ultimately forms a black coating of oxide. Lithium finds application as an alloying agent with aluminum and magnesium. Lithium is used in the manufacturing of batteries. Lithium and its compounds also find applications in the production of glass and ceramics.
An increase in the implementation of lithium foils in batteries used in various end-use products like electric vehicles, smart wearable, IoT devices and RFID tags among others is estimated to stimulate the market demand.
North America is one of the key revenue generating region in the market with a growth rate of 9.0% throughout the forecast period. This can be attributed to rapid technological developments in the region which has created a surge in demand for lithium foil especially in the energy storage and battery application. Developments in the field of nuclear science in the region has also given a push to the market demand.
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Top Companies: American Elements, Central Electronics Ltd., FMC, Novosibirsk, Chemetall, CNNC Jianzhong, Ganfeng Lithium, Tianqi Lithium, Hongwei Litium and Albemarle among Others.
Further key findings from the report suggest
3N product type is expected to contribute to the largest market share with a growth rate of CAGR 9.1% throughout the forecast period.
Rolled lithium foils are expected to dominate the in terms of volume in the forecast period because of its widespread application in end-use products.
Based on application, the energy storage and Battery segment is projected to occupy the largest market share due to the extensive use of lithium foils in batteries which find huge application consumer electronics, automotive and grid storage.
Asia Pacific market is project to contribute to the largest market share with a CAGR of 9.1% in the forecast period owing to a rapid growth in consumer electronics sector and energy sector. The recent growth in the deployment in electric vehicles is further fuelling the growth of the market in this region.
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Segments covered in the report:
Product Type (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
2N
3N
4N
5N
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
Energy Storage & Batteries
Research & Laboratory
Nuclear Energy
Pharmaceuticals & Intermediate
Lubricants & Greases
Ceramics & Glass
Others
To know more about the report: https://www.reportsanddata.com/report-detail/lithium-foil-market
Regional Outlook (Revenue, USD Billion; 2018-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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