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Lepidolite Market to have Good Business Opportunities in the Coming Years

Author : Rahul Varpe | Published Date : 2019-03-20 

North America and Europe held a significant portion of the global lepidolite market size in 2016. This has been attributed to the abundant availability of lepidolite in these region and high per capita income of consumers. Furthermore, increasing demand for lithium polymer and ion batteries in automobile and aerospace applications is expected to offer immense growth opportunities for the lepidolite market size during the forecast span.
 
Asia Pacific shall witness substantial gains in the lepidolite market size in the coming years owing to the rapid industrialization and urbanization, which has propelled several consumer goods manufacturing industries including electronics, automobiles, etc. in the region. This has noticeably accelerated demand for lithium manufacturing which will subsequently have a positive impact on the overall lepidolite market size by 2024. The product is also found in Russia, Brazil and some African countries. High product demand for ornaments and jewelry in the Middle East owing to high per capita of consumers is a chief factor likely to influence lepidolite market size in the coming years. 

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Global Lepidolite Market size is anticipated to witness a healthy CAGR during the forecast period. Lepidolite is mica mineral made of potassium, aluminum silicates and lithium. It is an ore of lithium which is usually violet colored, depending on the quantity of lithium present and traces of other elements.
 
The prime factor which is likely to be responsible for lepidolite market size in future is the strong product demand in jewelry industry. Rising per capita income coupled with drifting consumer preferences for products that offer luxury and status is likely to fuel the jewelry industry growth in the coming years, which will have a positive influence on lepidolite market size in the coming years. Moreover, increasing demand for consumer goods and for high efficacy & lightweight storage power supply across various applications including automotive, aerospace and electronics is expected to drive the product demand which in turn will have positive influence on the lepidolite market size over the forecast timespan.
 
The product is widely used in industrial applications on account of its thermal insulation characteristics. It is employed as a heat insulator in industrial sector. Rapid rise in industries and production units mainly in the emerging economies are anticipated to fuel the product demand which will subsequently help attain promising gains to lepidolite market size in the forecast spell. The product is also of significant use to geological and mineralogy research. Henceforth, advancements in geological research shall accelerate industry growth in the next few years.

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Some of the major market share contributors are Hallgarten and Company, SVS Chemical, Hangzhou J&H Chemical Company Limited, Lithium Australia NL and Univar. Other companies include Cristian Group, Triveni Interchem Private Limited, Coger, Novachim Trading Srl and Mc Chemical Company Limited. Most of these companies are making substantial investment to R&D to expand its product portfolio for retention of existing customers and new customers acquisition.

Read More @ www.gminsights.com/industry-analysis/polyphenylsulfone-market
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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