In a recent published report, Kenneth Research has updated the market report for Lithium Carbonate Market for 2024 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2024- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2024, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2024. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2024. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2024. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2024 till March 2024 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Lithium Carbonate Market products.
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Kenneth Research has recently added a report titled Lithium Carbonate Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2024 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Lithium carbonate (Li ₂CO ₃) is an inorganic compound whose different forms can be used for various purposes such as in the processing of metal oxides as well as widely used in medication. In a medical sense the lithium carbonate is used for treating Manic-Depressive Disorder (Bipolar Disorder) and can also be used to prevent cluster headaches. There are various applications of Lithium Carbonate such as metallurgy, glass and ceramics, medical, li-ion batteries, lubricants and more.
Global Lithium Carbonate Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
There are several factors that are driving the Global Lithium Carbonate Market such as the increasing awareness for the treatment of mental illnesses as well as the effectiveness of lithium carbonate in various applications. Factors such as the side effects of lithium carbonate such as hand tremors, vomiting and muscular weakness are restraining the growth of the market.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Lithium Carbonate Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Lithium Carbonate Market Competitive Landscape
The “Global Lithium Carbonate Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Tibet Mineral Development Co., Ltd., SQM, Orocobre, Albemarle, Nordic Mining, Simbol Mining, Lithium Carbonate Business, Sentient, FMC, Western Mining Co., Ltd.and Galaxy Resources. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Lithium Carbonate Market, By Application
• Metallurgy
• Glass and Ceramics
• Medical
• Li-Ion Batteries
• Lubricants
• Others
Global Lithium Carbonate Market, By Type
• 99%-99.5% Purity
• 99.6%-99.9% Purity
• Above 99.9% Purity
Global Lithium Carbonate Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
• Rest of the World
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