Lithium fluoride is an inorganic compound produced by the reaction between lithium hydroxide and hydrogen fluoride. It is also produced by the process of dissolving lithium carbonate in hydrogen fluoride. Lithium fluoride is highly preferred in molten salt chemistries and nuclear reactors due to its low melting point and high stability. In nuclear reactors, beryllium fluoride is blended with lithium fluoride to form a base solvent, which is used in molten-salt reactor experiments. Lithium fluoride is commonly used in enamel, glass, and ceramics industries as a fluxing agent. It is also used as heat sink material. Furthermore, lithium fluoride is employed in X-ray monochromator plates and extraction of rare earth elements. Lithium fluoride has vast range of applications in the optics industry. It is used in specialized UV optics. It is also used to record ionizing radiation exposure from beta particles, neutrons, and gamma rays in thermo-luminescent dosimeters. Furthermore, lithium fluoride serves as a coupling layer to improve electron injection in organic LEDs and polymer LEDs.
Global Lithium Fluoride Market: Overview
Demand for lithium fluoride market is estimated to increase substantially in various end-user industries including: glass, energy, optics, pharmaceutical manufacturing, and metallurgy. The market size is likely to expand due to the rise in demand for lithium fluoride in the glass industry in the near future. Nuclear power generation is expected to be a key segment driving the demand for lithium fluoride during the forecast period. According to a study presented by the World Nuclear Association, nuclear power accounted for more than 10% share of the global electricity as of February 2019. Demand for electricity has been increasing about twice as fast as the overall energy usage. It is poised to augment by more than half by 2040. Nuclear energy serves as a source of low carbon electricity generation, presenting strong potential for the lithium fluoride market.
Increase in demand for hybrid and electric cars is expected to augment the demand for lithium fluoride based batteries in the near future. Lithium fluoride has been used as analysis crystal for X-ray imaging in the pharmaceutical industry. This is likely to offer significant opportunities to the global lithium fluoride market in the next few years. Strong demand for molten salt applications and metallurgical processes is projected to drive the lithium fluoride market during the forecast period. However, implementation of stringent environmental regulations due to the toxicity of lithium fluoride is likely to hamper the market growth. Based on application, the global lithium fluoride market can be classified into glass, nuclear power generation, ceramic, optics, metallurgy processes, and others.
Global Lithium Fluoride Market: Regional Outlook
In terms of region, the global lithium fluoride market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to constitute substantial share of the global lithium fluoride market during the forecast period. Commercial and residential construction sectors in the region are projected to expand at a significant pace in the next decade. Demand for lithium fluoride in the region is expected to be driven by the increase in usage of lithium fluoride in the production of glass, ceramics, and enamels. Growth in electric and hybrid cars manufacturing in China and Japan is projected to propel the lithium fluoride market in Asia Pacific in the near future. Increase in pace of urbanization in South Korea, India, and Taiwan is likely to boost the lithium fluoride market in Asia Pacific during the forecast period.
Demand for lithium fluoride is anticipated to be high in optics and nuclear power generation industries in North America and Western Europe during the forecast period. Nevertheless, availability of alternative technologies and strict regulatory framework are estimated to hamper the lithium fluoride market in these regions.
Global Lithium Fluoride Market: Key Players
Key manufacturers operating in the global lithium fluoride market include Crystran Ltd., Albemarle Corporation, FMC, Axiom Chemicals Pvt. Ltd., Eagle Picher Technologies LLC, Alfa Aesar, Thermo Fisher Scientific, and UAB Optolita.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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