Lithium Compounds Market worth $13.5 billion by 2025
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In line with the rising demand for lithium, in January 2019, Albemarle Corporation received approval from the Australian government to set up its Kemerton Plant, which would have a production capacity of 60,000 metric tons of lithium hydroxide. This capacity can also be enhanced to 100,000 metric tons if required. The commissioning of the plant is expected to commence in 2021.
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SQM, in May 2018, planned a three-phase lithium carbonate plant expansion in Chile, to ramp up production to 180,000 metric tons by 2021, to increase its sales volume and meet the quality standards demanded by customers.
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Related Reports:
Lithium Compounds Market by Derivative (Lithium Carbonate, Lithium Hydroxide, Lithium Concentrate, Lithium Metal, Butyl Lithium, Lithium Chloride), End Use (Li-Ion Batteries. Glass & Ceramics, Medical, Lubricants), and Region - Global Forecast to 2025.
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