(MENAFN- Ameliorate Digital Consultancy) The global automotive adhesive market is expected to cross a valuation of US$ 7 billion by 2030. The COVID-19 pandemic has been projected to impact the industry, owing to restrictions on automotive production, and reduced sales on a global scale. Also, automotive manufacturers are facing challenges in terms of component supplies, which, in turn, is also affecting the expansion of the automotive adhesive market size.

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The automotive adhesives market is on the rise as the demand for lighter vehicles increases. Automotive adhesives are used to bond different components of a vehicle such as body panels, interior trim, and other parts. This type of adhesive is strong and lightweight and can be used in a variety of applications. The use of automotive adhesives is also increasing due to their ability to reduce noise and vibration. Automotive adhesives are used to reduce noise vibration in engines, exhaust systems, and other components. This helps to reduce the overall noise and vibration levels in a vehicle. The use of automotive adhesives also reduces the weight of the vehicle, which improves fuel efficiency.

Key Takeaways from Lithium Carbonate Market Study

• The global lithium carbonate market is anticipated to create a value opportunity of around US$ 3.9 Bn during the forecast period, adding 2.8X more value as compared to 2020.
• Li-Ion battery application is set to dominate market revenue in the year 2020, and is expected to gain 700 BPS in its market share by the year 2030 over 2020.
• The pharmaceuticals segment is anticipated to lose around 150 BPS during the forecast period of 2020-2030.
• East Asia holds a leading share in the global lithium carbonate market space, of which, China has a majority of the market demand.
• The COVID-19 pandemic has affected most industries around the world. The main end-use industries of lithium carbonate are automotive and pharmaceuticals, which have been affected too due to lockdowns and various restrictions, resulting in decreased demand for lithium carbonate in 2020.

“The global lithium carbonate industry is its initial lifecycle, post which, greater potential is set to be unveiled during the mentioned forecast period through 2030,”says a Fact.MR analyst.

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Lithium Carbonate Market Segmentation

Fact.MR has studied the lithium carbonate market with a detailed segmentation on the basis of purity, grade, application, and key regions.

Purity

• 98.5% – 99.4%
• 99.5% – 99.8%
• 99.9%

Grade

• High Purity
• Battery
• Pharmaceutical

Application

• Li-ion batteries
• Glass & Ceramics
• Cement Manufacturing
• Aluminum Production
• Pharmaceutical Industry
• Others

Region

• North America
• Europe
• East Asia
• South Asia & Oceania
• Rest of the World

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