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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Lithium carbonate is an inorganic compound, the lithium salt of carbonate with the formula Li2CO3. This white salt is widely used in processing metal oxides and treating mood disorders. The major factor driving the market is the increasing use of lithium carbonate in different industries such as electronics and electrical. Moreover, lithium carbonate is used in the form of batteries in portable electronic devices which is expected to drive growth of the market over the forecast period.

Market Dynamics:

  • Lithium carbonate is used in drugs for curing bipolar disorders. Consumption of lithium carbonate based medicines decreases the symptoms of manic episodes such as irritability, anxiousness, loud/rapid speech, and aggressive behavior.
  • Moreover, in ceramics, lithium carbonate is used for making glazes owing to its high temperatures which causes the glazes to melt. These applications are expected to boost demand for lithium carbonate during the forecast period.
  • However, lithium carbonate also has a few side effects owing to its high dose which is expected to hamper the growth of the lithium carbonate market during the forecast period. Few of these side effects include drowsiness, dizziness, weight gain, tiredness, and mild shaking of hands among others.

Market Outlook:

  • Among grade, the battery grade segment is expected to gain significant market share over the forecast period owing to increasing demand from the electronics industry. According to the India Brand Equity Foundation’s data on Electronic and Computer Software Industry and Exports, published in December 2019, the revenue generated from the export of consumer electronics from India reached US$ 148.9 Mn between April and July 2019. Moreover, as per the same source, the top export destinations from India for consumer electronics included U.S., U.K., Singapore, Israel, and Belgium among others.
  • Therefore, increasing demand for consumer electronics is expected to drive the demand for batteries. This is a major factor for the growth of the global lithium carbonate market.
  • Lithium carbonate is used for manufacturing cement and aluminum. For instance, lithium carbonate is mainly used as an accelerator for setting mortar and cement at a faster rate in case of high alumina based cement. The increasing number of construction activities is expected to be another factor driving demand for lithium carbonate. According to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development in June 2019, the number of newly completed residential buildings was about 900 thousand units in May 2014 which increased to 1200 thousand units in May 2019.

Key players:

  • Key players operating in the global lithium carbonate market are SQM S.A., Orocobre Limited, Albemarle, Nordic Mining ASA, Simbol Mining, Western Mining Co., Ltd., Galaxy Resources Limited, FMC Corporation, Tibet Mineral Development Co., Ltd., International Lithium Corp., and Livent.

Market Taxonomy:

On the basis of grade, the global lithium carbonate market is segmented into:

  • Battery Grade (99.5% purity)
  • Enhanced Grade (99.6%-99.9&)
  • Superior Grade (Above 99.9%)

On the basis of application, the global lithium carbonate market is segmented into:

  • Batteries
  • Ceramics and glass
  • Cement and aluminum
  • Others (Pharmaceutical, etc.)

On the basis of region, the global lithium carbonate market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • North Africa
    • Central Africa
    • South Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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