Lithium hydride is a white crystalline powder. It is produced by passing hydrogen gas over lithium metal. Lithium hydride has high melting point and dissolves in solutions, such as, lithium boro-hydride, sodium hydride, and lithium fluoride. It reacts rapidly with low moist air to form lithium hydroxide, lithium oxide, and lithium carbonate. Lithium hydride can cause skin burns, eye damage, and severe irritation of the nose and throat. These reasons are likely to restrain the growth of the lithium hydride market. Lithium hydride is reactive with all organic and protic solvents. It is soluble and nonreactive with certain molten salts, such as, lithium fluoride and sodium hydride. Safety measures should be taken while handling of lithium hydride, such as, keeping it away from sources of ignition, for example, open fire and sparks, and also storing it in separate rooms. Lithium hydride has high hydrogen content, and is used in applications, such as, hydrogen storage and fuel cells. Hydrogen storage and fuel cells are used in stationary power and transportation. These applications are expected to drive the demand for lithium hydride in the near future.
Lithium Hydride Market: Segmentation
The global lithium hydride market can be segmented based on type, end-user industry, and region. Based on type, the lithium hydride market can be classified into 95% lithium hydride, 97% lithium hydride, and 99% lithium hydride. The 99% lithium hydride segment is estimated to dominate the market during forecast period. High-concentrated lithium hydride is non-corrosive in nature, and has high purity and low diffusivity. 99% lithium hydride is majorly employed in batteries for hydrogen storage. Rise in demand for hydrogen storage for energy storage application is the major factor which is expected to drive the demand for lithium hydride during the forecast period. It also acts a desiccant and reducing agent in batteries.
Based on end-user industry, the lithium hydride market can be categorized into electronics & electrical, chemical, and energy & power. The chemical segment is projected to dominate the market during the analysis period. Lithium hydride is used in the production of a wide variety of reagents, such as, lithium boro-hydride and lithium aluminum hydride, for organic synthesis.
Lithium Hydride Market: Regional Outlook
In terms of region, the global lithium hydride market can be segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Asia Pacific is expected to remain the leading market for electrical & electronics during the forecast period. Presence of large number of electrical & electronic manufacturing companies in the region, especially in China and Taiwan, is projected to boost the demand for lithium hydride in the near future. Lithium hydride is used in manufacturing of electronic tubes and batteries; this is a key factor propelling the growth of the lithium hydride market in the region.
Following Asia Pacific, North America is expected to be remain dominant in the global chemical market during the forecast period. Many chemical companies manufacture the solutions such as lithium boro-hydride and lithium aluminum hydride using lithium hydride & these solutions acts as reducing agent in fuel-cell batteries, this will drive the demand for lithium hydride market.
Lithium hydride Market: Key players
Lithium hydride is a fragmented market, with a large number of companies operating at both the global and regional levels. Major companies include Merck KGAA, Albemarle Corporation, Ganfeng Lithium Ltd, Santa Cruz Biotechnology, Tianjin Daofu Ltd., American Elements and Parad Corporation Pvt Ltd., Dalchem, Ganfeng Lithium, Tianjin Dipper Fine, Rockwood Lithium, Anhui Wotu, ESPI Metals, Tianjin Daofu, and Hebei Keyu.
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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?
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