Market Overview

The Global Lithium Hexafluorophosphate Market is growing with the rapid pace; mainly due to the growing demand. According to a recent study report published by the Market Research Future, the global market of Lithium Hexafluorophosphate is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2016 – 2027).

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Increasing demand of batteries from the automotive industries has driven the market for Lithium Hexafluorophosphate. The Lithium Hexafluorophosphate is majorly used in the batteries; however, increasing demand from the parent company will automatically increase the demand for Lithium Hexafluorophosphate.

The cost of lithium ion batteries has dropped significantly, impacting the market growth positively. This cost reduction is making lithium ion battery denoting it as the first preference in the automotive sector as these lithium-ion batteries became superior in power, performance and cost. The USA, Canada are leading in the usage rate of Lithium Hexafluorosulphate Market as end users of this region prefer four-wheeler vehicle, and secondly, these countries have many automotive industries. Rising demand for electric devices and government attention towards pollution control is another factor which increases demand of Lithium Hexafluorophosphate in the nearing future. An increase in the demand of its parent product like lithium ion battery will directly raise the demand of Lithium Hexafluorophosphate as it is used in its manufacturing.

People now days prefer rechargeable batteries due to its high drain application, increased environmental and economic benefits, however, considering from the manufacturers’ side, they are having a huge opportunity to capture the market by increasing the production of Lithium Hexafluorophosphate. Lower energy density and Lower initial voltage in rechargeable batteries are the key challenges to produce Lithium Hexafluorophosphate. Apart from this, the increase in the number of vehicles which run on batteries has resulted in the increase in the demand for Lithium Hexafluorophosphate. This is one of the major trends following the market.

Lithium Hexafluorophosphate supply market is comparatively small then its competitors which becomes primary restraint factor for the lithium hexafluorophosphate market. Slower take-up of electric vehicle market demand, new battery technologies developing, energy storage using alternatives of Lithium Fluorophosphates are some other restraints encountered that can affect

Adding a small amount of Lithium Hexafluorophosphate to an iTFSI–LiBOB dual-salt carbonate solvent-based electrolyte can make rechargeable lithium-metal batteries more stable, charge quickly and have a high voltage.

Top Key Players

FPC
Do-fluoride Chemicals
Tianjin Jinniu
Tinci
Jiujiujiu
Kanto Denka Kogyo
Foosung
Chuo-glass
Stella Chemifa
MORITA
Central Glass
Formosa Plastic
Lithium Hexafluorophosphate Global Market - Competitive Analysis

The key players operating in the Lithium Hexafluorophosphate Market compete based upon pricing, Technology and services. Vendors operating in the Lithium Hexafluorophosphate Market strive to deliver the best quality products based on innovative technologies, and best practices. Lithium Hexafluorophosphate Market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.

Lithium Hexafluorophosphate Market - Regional Analysis

The Global Lithium Hexafluorophosphate Market is accounted for astronomical amounts in 2015 and is estimated to draw a multi Billions in 2027 with a calculated CAGR during the forecasted period. The global Commodity Plastic market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW).

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The demand for Lithium Hexafluorophosphate in the US and Canada market is very high due to the large number of vehicle owners and in these region four-wheeler vehicles are more preferred. People now days prefer rechargeable batteries due to its high drain application, increased environmental and economic benefits, however, considering from the manufacturers’ side, they are having a huge opportunity to capture the market by increasing the production of Lithium Hexafluorophosphate.

North America: In the North American region, the US and Canada are having a very strong market for Lithium Hexafluorophosphate due to the large number of automotive industries. Here, the huge population prefers the secondary batteries. Due to these factors, the demand for Lithium Hexafluorophosphate has increased and seen a potential scope of growth in the recent years.

Asia-Pacific: Followed by North America, Asia-Pacific is considered as the major market for Lithium Hexafluorophosphate. Increasing number of vehicles as well as increasing demand of rechargeable batteries from the Australia, New Zealand and India has made an enough opportunity for the manufacturers of Lithium Hexafluorophosphate to increase their production capacity.

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