Introduction

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.

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
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • 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
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

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.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

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?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Lithium Hydride Market

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