North America High-Purity Liquid Lithium Hexafluorophosphate Market was valued at USD 0.15 Billion in 2022 and is projected to reach USD 0.3 Billion by 2030, growing at a CAGR of 8.1% from 2024 to 2030.
North America is experiencing a significant surge in the demand for high-purity liquid lithium hexafluorophosphate (LiPF6), a critical electrolyte salt in lithium-ion batteries. This surge is primarily driven by the rapid expansion of electric vehicles (EVs), consumer electronics, and industrial energy storage systems. The automotive sector, in particular, is a major contributor, with the increasing adoption of EVs necessitating high-performance batteries. According to a report by PR Newswire, the North America LiPF6 market is projected to grow from USD 3,134.1 million in 2023 to USD 5,467.9 million by 2029, at a compound annual growth rate (CAGR) of 9.7% during the forecast period. citeturn0search2
The electronics industry also significantly contributes to the demand for LiPF6. The proliferation of portable devices such as smartphones, tablets, and laptops requires efficient and reliable power sources. Lithium-ion batteries, utilizing LiPF6, are preferred due to their high energy density and long cycle life. As consumer electronics continue to evolve, the need for advanced battery technologies remains paramount.
Industrial energy storage is another key application area. With the increasing integration of renewable energy sources like solar and wind, there is a growing need for efficient energy storage solutions. Lithium-ion batteries, powered by LiPF6, offer scalable and reliable options for grid stabilization and energy storage, facilitating the transition to sustainable energy systems.
In response to this escalating demand, several companies are enhancing their production capacities. For instance, Shida Shenghua has established a joint venture with Sichuan Zhongfuo Huatai New Material Technology, investing approximately USD 280 million to produce 100,000 tons of liquid LiPF6 annually. This strategic move aims to secure the supply chain and meet the growing market requirements. citeturn0search0
In summary, the North American market for high-purity liquid lithium hexafluorophosphate is experiencing robust growth, driven by the automotive, electronics, and energy storage sectors. The increasing demand for advanced battery technologies in these industries underscores the critical role of LiPF6 in supporting the region's technological advancements and sustainable energy initiatives. North America High-Purity Liquid Lithium Hexafluorophosphate Market.
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Morita Chemical
STELLA CHEMIFA
Central Glass
Do-Fluoride Chemicals
Foosung
Kanto Denka Kogyo
Guangzhou Tinci Materials Technology
Jiangsu Jiujiujiu Technology
Do-Fluoride New Materials
Cenertech Tianjin Chemical Research And Design Institute
Guangdong Jinguang High-Tech
Jiangsu Xintai Material Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the North America High-Purity Liquid Lithium Hexafluorophosphate Market
Consumer Electronics
Electric Car
Industrial Energy Storage
Others
Based on Types the Market is categorized into Below types that held the largest High-Purity Liquid Lithium Hexafluorophosphate market share In 2023.
More than 99.9%
More than 99.99%
North America (United States, North America and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the North America High-Purity Liquid Lithium Hexafluorophosphate Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. North America High-Purity Liquid Lithium Hexafluorophosphate Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. North America High-Purity Liquid Lithium Hexafluorophosphate Market, By Type
6. North America High-Purity Liquid Lithium Hexafluorophosphate Market, By Application
7. North America High-Purity Liquid Lithium Hexafluorophosphate Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
8. North America High-Purity Liquid Lithium Hexafluorophosphate Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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