Lithium Iodide Market Size, Share, Benefits, Industry trends, Competitive Analysis, Report Studies and Development to 2030

Lithium Iodide Market Overview:

The lithium iodide market is experiencing steady growth, driven by increasing demand
from the pharmaceutical, chemical, and emerging battery sectors. As of 2023,
the market size was estimated at USD 120.94 million, and it is projected to
reach USD 183.79 Million by 2030, expanding at a CAGR of 5.5%.

Lithium Iodide Market Drivers:

Pharmaceutical
industry: Lithium iodide is a crucial component in X-ray contrast agents used
for medical imaging, particularly in coronary angiography and CT scans. The
growing demand for diagnostic procedures fuels the lithium iodide market in
this segment.

Chemical
industry: Lithium iodide plays a vital role in various chemical reactions, such
as organic synthesis and catalysis. Its hygroscopic properties also make it
valuable for desiccant applications.

Emerging
battery technologies: Lithium iodide is being explored as a potential
electrolyte material for solid-state batteries, offering improved safety and
performance compared to conventional lithium-ion batteries. This potential
application holds significant promise for the lithium iodide market dynamics.

Increasing
focus on water treatment: Lithium iodide exhibits disinfectant properties,
making it a potential alternative to chlorine in water treatment applications.
This emerging trend could further broaden the lithium iodide market scope.

Lithium Iodide Market Key Players:

Merck KGaA

Albemarle
Corporation

American
Elements

Leverton
Lithium

Samrat
Pharmachem

Shanghai
Oujin Lithium

Alfa Aesar
(a subsidiary of Thermo Fisher Scientific)

TCI
Chemicals Pvt. Ltd.

Toronto
Research Chemicals

Santa Cruz
Biotechnology Inc.

Lithium Iodide Market Regional
Analysis:

Asia-Pacific
is the largest consumer of lithium Iodide, driven by strong demand from the
pharmaceutical and chemical industries in China and India.

Europe holds
a significant market share due to its established pharmaceutical and chemical
sectors.

North
America is a mature market with steady demand, but growth is expected to be
slower compared to other lithium iodide market regions.

Latin
America and the Middle East and Africa are emerging markets with potential for
future growth, particularly in the battery and water treatment sectors.

Lithium Iodide Market Segmentation:

By Form: Powder
and Liquid

By Type: Lithium
Iodide Anhydrous, Lithium Iodide Trihydrate, and Others

By
Application: Electrolyte, Absorbent, Catalyst, Chemical Intermediate, and
Others

By End User:
Agrochemicals, Automotive, Electronics, Pharmaceutical, Chemical, and Others

By Region: North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa

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