Market Insights: Lithium Compound Sector Set for US$ 81.5 Billion Industry by 2034
The lithium compound market is slated to have a valuation of US$ 11.8 billion in 2024. The market's progress is anticipated to be extraordinary from 2024 to 2034, with a CAGR of 21.3%. The market is forecasted to attain a valuation of US$ 81.5 billion by 2034.
Li-ion or lithium batteries are one of the most prominent sources of value for the lithium compound market. With batteries in various fields, including cars and aircraft, their sale is propping up the lithium compound market. Greases and lubricants, other essentials in the automobile industries, are also helping the market’s growth.
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