LithiumBromide Market: Environment-friendly Solution
· Lithium bromide (LiBr) is a chemical compound formed betweenhydrobromic acid and lithium carbonate. It is available in various grades suchas food; agricultural and pharmaceutical; reagent and technical; military,and alkylation.
· Lithium bromide is used in absorption chillers, as it cansmoothly absorb the excess vapors due to its hygroscopic property. It is also auseful alternative for non-CFC systems. Lithium bromide acts as a swellingagent for proteins. Additionally, lithium bromide is employed as electrolytecomponent in lithium batteries.
· Lithium bromide acts as an operating medium and absorbent inindustrial drying and air conditioning systems. It is also used as a hypnoticand sedative in various medicines. Furthermore, lithium bromide is employed inchemical and photography industries. It is also used in metal work (forinstance, welding and brazing fluxes).
KeyDrivers of Lithium Bromide Market
· Lithium bromide is likely to gain prominence in the near futuredue to its properties such as easy solubility, pure composition, and longershelf life. Rise in demand for air conditioners and industrial dryers isexpected to drive the globallithium bromide market during the forecastperiod.
· Lithium bromide is an effective alternative for non-CFC chillersystems. This is anticipated to boost the adoption of lithium bromide in theair conditioning industry in the near future.
· Increase in usage of lithium bromide in chemical synthesis,infrastructure development, automotive industry, and metal working industry isa key factor propelling the global lithium bromide market. Growth in demand forwelding and brazing fluxes is expected to drive the lithium bromide market.
SignificantOpportunity in Air Conditioning Application
· Based on application, the global lithium bromide market can bedivided into air condition, industrial drying, pharmaceutical, and others
· Lithium bromide is widely utilized as a desiccant in airconditioners. Demand for lithium bromide is projected to be high as absorbentin air conditioning systems during the forecast period.
· Demand for air conditioning systems has been increasing acrossthe world due to the rise in global temperature. Rise in per capita income andimprovement in standard of living in emerging countries are also driving thedemand for air conditioning systems. These factors are anticipated to boost theglobal lithium bromide market during the forecast period.
· Rise in number of environmental regulations regarding theemission of CFCs (chlorofluorocarbons) is fueling the demand for lithiumbromide to manufacture non-CFC air conditioning systems. CFC emissions fromhousehold and industries in developed regions such as North America and Europehave been steadily increasing over the last few years. Several manufacturershave started developing sustainable products with high energy efficiency owingto the implementation of environmental regulations in North America andEurope.
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SignificantGrowth Potential in Anhydrous Type
· Based on type, the global lithium bromide market can bebifurcated into solution and anhydrous
· Anhydrous type of lithium bromide is used as an absorbent in airconditioners. It is also used as a sedative and hypnotic in medicineformulations. Rise in demand for air conditioners and increase in expenditureon medicines are expected to propel the demand for anhydrous lithium bromideduring the forecast period.
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AsiaPacific to be Key Region of Lithium Bromide Market
· In terms of region, the global lithium bromide market can besegregated into North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa
· The lithium bromide market is likely to expand at a rapid pacein Asia Pacific over the next decade, especially in rapidly expanding economiesof the region, including China, India, Indonesia, and Malaysia
· Asia Pacific is expected to account for key share of the globallithium bromide market during the forecast period. Pharmaceutical and airconditioners industries in the region are anticipated to augment the lithiumbromide market in the near future. China and India are the major countries forlithium bromide in Asia Pacific.
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KeyManufacturers in Lithium Bromide Market
The global lithium bromide market is highly fragmented with thepresence of large numbers of global and regional players. Key manufacturersoperating in the global market include:
· Rockwood Lithium Inc
· American Elements
· FMC Corporation
· Leverton-Clarke
· ICL-IP
· Westman Chemicals Pvt. Ltd.
· ESPI Metals
· Shreenivas Chemicals
· Dhara Fine Chem
· Axiom Chemicals Private Limited
· Deep Pharm-Chem Pvt. Ltd.
· Parad Corporation Pvt Ltd
· Parchem fine & specialty chemicals
· Nanjing Taiye Chemical Industry Co., Ltd.
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