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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Lithium Fluoride Market Outlook
The global lithium fluoride market is expected to be aided by the growth of the lithium carbonate industry, which attained a volume of 208.97 kMT-LCE in 2023. The lithium carbonate market is further expected to grow at a CAGR of 10% in the forecast period of 2024-2032.
The market is being driven by the growing demand for the product in the glass industry. The growing consumer demand for glass and ceramic products and advances in optics are the key factors driving the growth of the segment.
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The Asia Pacific to Provide Significant Growth Opportunities to the Lithium Fluoride Market
Region-wise, the Asia Pacific is expected to have a significant share in the market. Within the Asia Pacific, China is one of the leading glass producers, which is positively impacting the regional demand for lithium fluoride. Further, the demand for the product is anticipated to grow owing to the favourable government initiatives and rapid urbanisation taking place across the region. Meanwhile, developed regions like North America will drive the demand for the product aided by the growing investments in nuclear power generation technology.
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Lithium Fluoride: Market Segmentation
Lithium fluoride is an inorganic compound, which is obtained by reacting lithium hydroxide with hydrogen fluoride. Although, it can also be produced via the dissolution of lithium carbonate in hydrogen fluoride and from other methods. Owing to its properties like low melting point and high stability, it is extensively utilised in molten salt chemistries and nuclear reactors. In nuclear reactors, the base solvent used in molten-salt reactor experiments is formed by blending beryllium fluoride with lithium fluoride. One of the most common applications of the compound includes its use in enamel, glass, and ceramics industries as a fluxing agent.
On the basis of grade, the market is bifurcated into:
- Technical
- Battery
Based on application, the industry can be segmented into:
- Glass
- Nuclear Power Generation
- Ceramics
- Optics
- Metallurgy Processes
- Pharmaceuticals
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Utilisation of Nuclear Power Technology is Bolstering the Lithium Fluoride Market Growth
The industry growth is supported by the rising product demand from the various end-use industries, including glass and ceramics, optics, metallurgy, and pharmaceuticals. The market size is further expanding due to the increasing demand for lithium fluoride in nuclear power generation systems. The growing demand for energy is leading to the increased investments in the advanced nuclear power reactor as it facilitates the generation of electricity with low carbon emissions. This is significantly aiding the industry growth.
Growing Demand for Lithium Fluoride Based Batteries to Influence the Market
Owing to the growing environmental concern, the sales of hybrid and electric cars is expected to increase in the future. This is expected to drive the demand for lithium fluoride-based batteries over the forecast period, thus aiding the industry.
Key Industry Players in the Global Lithium Fluoride Market
The report gives a detailed analysis of the following key players in the global lithium fluoride market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Crystran Ltd.
- Ganfeng Lithium Co.,Ltd
- Albemarle Corporation
- Axiom Chemicals Pvt. Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Grade |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global lithium fluoride market is aided by the lithium carbonate industry, which reached a volume of nearly 208.97 kMT-LCE in 2023.
The lithium carbonate market is projected to grow at a CAGR of 10% between 2024 and 2032, which is further expected to support the growth of the lithium fluoride industry.
The major drivers of the industry, such as rising disposable incomes, growing demand from the glass industry, rising sales of electric cars, and growing demand from application segments, are expected to aid the market growth.
The key trends guiding the growth of the market include the implementation of favourable government regulations and the rising use of the product in nuclear power industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading grades of the product in the industry are technical and battery.
The major application segments in the market are glass, nuclear power generation, ceramics, optics, metallurgy processes, and pharmaceuticals, among others.
The major players in the industry are Crystran Ltd., Ganfeng Lithium Co.,Ltd, Albemarle Corporation, and Axiom Chemicals Pvt. Ltd., among others.
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