(MENAFN- America News Hour) In a recently published report, Global LiPF6 Market report for till 2030. The 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 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 regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst 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 Global LiPF6 Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global LiPF6 Market is valued approximately at USD XX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2026. LiPF6 (Lithium hexafluorophosphate) is widely used in the preparation of lithium ion batteries. Increasing demand for lithium ion batteries from distinct sectors comprising consumer electronics, automotive and others is surging the demand for LiPF6. Growth in the sales of electric vehicles increases the demand for lithium ion batteries. As per the EU commission electric vehicles sales worldwide is expected to reach 50-200 million by 2028 from 4 million in 2018. Whereas the global manufacturing capacity of lithium ion cell for electric car anergy storage is about 150 GWh per year (2018) that is likely to increase nearly 400 GWh by 2022. Lithium ion batteries holds better efficiency, high storage capacity and long-life cycle as compared to other batteries such as Nickle cadmium and lead acid batteries. Hence, high demand of lithium ion batteries is observed in the elevated energy consuming application such as electric vehicles and storage grid. The global LiPF6 market growth is attributed to drive over the forecast period due to favorable government support in adoption of electric vehicles along with increasing demand for lithium ion battery manufacturing. In a Li-ion battery electrolyte, LiPF6 offers high energy densities and appreciable power densities. This has encouraged enterprises to expand LiPF6 production. For instance, in 2017, Japan based Morita Chemical announced its planning to build LiPF6 factory with 7500t/a in China. Also, in 2019, Hopax announced its production of electrolyte solutions for lithium ion batteries aiming to strengthen its presence in battery electrolytes industry including LiPF6. Apart from this, ongoing investments by the private and public organizations towards the development of lithium ion batteries is further estimated to foster the LiPF6 market growth.
The regional analysis of global LiPF6 market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to presence of suppliers of the battery electrolytes including LiPF6. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as government subsidies in the manufacturing of lithium ion batteries along with increasing adoption of electric vehicles in the region would create lucrative growth prospects for the LiPF6 market across Asia-Pacific region.
Major market player included in this report are:
Arkema SA
Abtonsmart Chemicals (Group) Co, Ltd
Honeywell International
Kum Yang Co, Ltd
Otsuka Chemical Co. Ltd
Weifang Yaxing Chemical Co, Ltd
Ajanta Chemical Industries
Abtonsmart Chemicals (Group)
MORITA
Formosa Plastics Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Pitch Based
PAN Based
Rayon Based
By Applications:
Automotive Industry
Chemical Industry
Defense Industry
Ceramic Industry
Aerospace Industry
Wind Energy
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global LiPF6 Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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