(MENAFN- EIN Presswire) Market Analysis: Lithium Sulfides Market,
Lutein and Lutein Esters Market,
Mandrel Release AgentsMarket forecasted for 2023-2030
SEATTLE, WASHINGTON, USA, July 7, 2023/einpresswire.com / -- The Lithium Sulfides Market is expected to grow from USD 4.00 Million in 2022 to USD 116.30 Million by 2030, at a CAGR of 63.90% during the forecast period.The Lithium Sulfides market is projected to witness robust growth in the upcoming years. The market is primarily driven by the increasing demand for rechargeable batteries in the transportation sector, particularly in electric vehicles. Additionally, the growing adoption of renewable energy sources is expected to fuel the demand for Lithium Sulfides in energy storage systems. These batteries find applications in varied industries such as aerospace, defense, medical devices, and consumer electronics, further fostering market growth.Another factor contributing to the market's growth is the increasing investment in research and development in battery technology by various governments and private entities. The focus on developing high-performance, cost-effective, and eco-friendly batteries is driving the demand for Lithium Sulfides.
Two types of lithium sulfides are commonly available in the market, i.e.
.0.999
.0.9999 purity levels
The difference between the two types lies in their level of impurities. The higher the purity level, the lower the amount of impurities and the better the performance of the lithium-sulfur battery.
Lithium Sulfides have a wide range of applications in the field of energy storage. One of the major applications is in Sulfide Solid Electrolytes, which are used as a component in solid-state batteries. These batteries have high energy density, longer lifespan, and do not require any flammable liquid components. Lithium Sulfides are also used in Lithium-sulfur Batteries Electrodes. The sulfur cathode is infused with Lithium Sulfides to improve its performance and stability. They help in restraining the dissolution of polysulfides that are formed during the charging and discharging process.
The market share of Asia Pacific region is estimated at around 45-50% in the Lithium Sulfides market.North America and Europe are also expected to witness significant growth in the Lithium Sulfides market due to rising awareness about renewable energy sources, increasing government initiatives for electric vehicles, and surging demand from the healthcare sector. The market share of North America and Europe is estimated at around 20-25% each in the Lithium Sulfides market.Latin America and Middle East & Africa are also projected to witness moderate growth in the Lithium Sulfides market due to increasing adoption of lithium-ion batteries, growth in the electronics industry, and various ongoing research and development activities. The market share of Latin America and Middle East & Africa is estimated at around 5-10% each in the Lithium Sulfides market.
The global lithium sulfides market is marked by the presence of several established players, who account for a majority share of the market. Some of the key players in the market include Lorad Chemical, Albemarle, Materion, Ganfeng Lithium Co, Hubei Xinrunde, Hangzhou Kaiyada, and Chengdu Hipure.
The sales revenue figures for the above-listed companies are as follows:
- Albemarle: $3.4 billion (2019)
- Materion: $1.2 billion (2019)
- Ganfeng Lithium Co: $440 million (2019)
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The Lutein and Lutein Esters Market is expected to grow from USD 164.00 Million in 2022 to USD 249.90 Million by 2030, at a CAGR of 6.20% during the forecast period.The Lutein and Lutein Esters market caters to a broad range of sectors, including food and dietary supplements, pharmaceutical, personal care, and animal nutrition. The primary factor driving the revenue growth of this market is growing awareness about the health benefits of Lutein and Lutein Esters. These ingredients are known for their eye health benefits and are widely used in products for the prevention of age-related macular degeneration (AMD). The rising prevalence of AMD, especially among the elderly population, is also contributing to the growth of the Lutein and Lutein Esters market.Another driving factor for the market is the increasing demand for natural and plant-based ingredients in food and personal care products. Lutein and Lutein Esters are plant-derived ingredients, and hence, are preferred over synthetic ingredients.
North America and Europe are expected to dominate the Lutein and Lutein Esters market in the coming years. The market share of North America is expected to account for around 35-40% of the global market, while Europe's market share is expected to be around 30-35%.
Other regions such as Asia-Pacific, Latin America, and the Middle East & Africa are also expected to witness significant growth in the Lutein and Lutein Esters market. Asia-Pacific, in particular, is expected to witness the highest growth rate due to the increasing awareness about eye health and the growing demand for functional food and dietary supplements.
The Lutein and Lutein Esters Market is highly competitive and is dominated by major players such as Chenguang Biotech Group Co.,Ltd., Kemin Industries, Synthite, Qingdao Scitech Biotech Co., Ltd., OmniActive, Katra Phytochem Pvt ltd., Piveg, Divis, Lycored, IOSA, Allied Biotech Corporation, and Chr.Hansen Holding A/S. These companies primarily operate in food and supplements, pharmaceuticals, animal feed, and personal care industries.
In 2018, Chr. Hansen Holding A/S generated sales revenue of $1.2 billion, whereas the sales revenue of Kemin Industries was approximately $1 billion. Similarly, OmniActive reported sales revenue of $100 million in 2018.
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The Mandrel Release Agents Market is expected to grow from USD 61.00 Million in 2022 to USD 78.00 Million by 2030, at a CAGR of 3.62% during the forecast period.The Mandrel Release Agents market targets industries that require a smooth release of mandrels from various types of molds. These industries include aerospace, automotive, and composite manufacturing. The market is anticipated to grow significantly due to the rising demand for lightweight materials in the aerospace industry, strict regulations regarding fuel emissions, and growing demand for automobiles. The growing adoption of composite materials in the manufacturing industry will also fuel the market demand for Mandrel Release Agents.
The expected market share of the Mandrel Release Agents market in North America is around 35%, while Europe is expected to hold a market share of around 30%. The Asia Pacific region is expected to hold the largest market share of around 40% due to the increased demand for composites in various end-use industries. The rest of the world is expected to hold a market share of around 5%.
The global mandrel release agents market is highly fragmented with the presence of several players. Chem-Trend, Struktol, McGee Industries, WN SHAW, Evonik Industries, Lion Specialty Chemicals, Lotréc AB, Münch Chemie, Maverix Solutions, Shanghai HD Chemical, Dongguan Antai Fine Chemical, Caldic, and APV Engineered Coatings are some of the key players in the market.
The sales revenue figures of a few of the above-listed companies are as follows:
- Chem-Trend: $527 million
- Evonik Industries: $13.38 billion
- APV Engineered Coatings: $223 million
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Mohit Patil
Prime PR Wire
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