Lithium acetate is a salt which is formed by the combination of lithium and acetic acid. Lithium acetate is used as a catalyst in the production process of acrylic polymer, polyester, and alkyd resin. It is employed as an additive in textiles to improve lubricity and dying-ability. Moreover, it decreases luster. The range of products of lithium acetate is known for its low electrical conductivity. Lithium acetate is widely utilized in the textile industry, as raw material for pharmaceuticals, in the production of antistatic fibers, stabilization of polyvinyl chloride, and catalyst polymerization.
A major application of lithium acetate is yeast transformation. The negative charges on the DNA molecule that has to be transformed is neutralized by the lithium ions and phospholipid bilayer of the yeast cell may form small holes in the plasma membrane that allows the passage of nucleic acids. Lithium acetate or LiC2 is used as a product for drug formulation and therapy, buffer for gel electrophoresis of DNA and RNA, additive or catalyst for textliles and polymer production, and precursor material for batteries. Lithium acetate is currently available in two forms: anhydrous and dihydrate. Anhydrous lithium acetate is obtained by heating commercial lithium acetate till the melting point of anhydrous salt, and then cooling it very slowly. The crystals are covered to prevent hydration. Different lithium acetate hydrates can be obtained by hydration of lithium acetate, also by slow evaporation. The solvent used in this process is isopropanol. Anhydrous lithium acetate is utilized in the treatment of bipolar disease and also acts as a mood stabilizer. More applications of lithium compounds are restricted due to narrow band of therapeutic range, as little increase in serum concentrations can lead to serious toxic reaction.
The lithium acetate market is mainly driven by the pharmaceutical and textile industries. Expansion of the textile or pharmaceutical industries is likely to be a major factor for expansion of the market, as lithium acetate is widely used by these industries. It is preferred over other materials in the market due to its exceptional physical property of low electrical conductivity, thereby voltage can be increased without affecting the gel temperature much. This speeds up the electrophoresis process. Furthermore, lithium acetate is utilized in the electronics industry. It is used as source of lithium where it is helpful in the production of lithium ion battery. It is widely employed in all electronic gadgets and as a rechargeable source of power.
North America dominated the lithium acetate market, in terms of demand, in 2016. Asia Pacific is anticipated to expand rapidly due to significant demand for consumer electronics in the region. China and Japan are major contributors to the market in the region in terms of demand. Europe was followed by North America in terms of share in global lithium acetate market. U.S. had prominent demand for lithium acetate in the region. The demand is due to presence of a large number of pharmaceuticals industries in the region. In terms of demand, Rest of the World market had the smallest share in the lithium acetate market in the last few years. However, the scenario in the region is anticipated to change due to the expansion of the electronics and telecom industry coupled with increasing demand for power devices. Rest of the World is likely to show positive outlook for lithium acetate in the near future.
Some of the Prominent players operating in the lithium acetate market include FMC, Leverton-Clarke, American Elements, Sichuan Brivo lithium Materials Co.,Ltd, Taiye, Shanghai Industrial, and Shanghai Energy Lithium Industrial.
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