Lepidolite Market set for massive growth by 2025

Global Market Insights, Inc
present the report on global lepidolite
market evaluates the growth trends of the industry through historical study
and estimates future prospects based on comprehensive research. The report
extensively provides the market share, growth, trends and forecasts for the
period 2019-2025.

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.

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Based on application, the
lepidolite market size can be classified into heat insulator, mineral specimen,
lithium production, ornamental stone and other applications which includes
alloys for aircraft parts, high-temperature lubricants, etc. Ornamental stones
segment had a significant share of the global lepidolite market size in 2016.
The product has a pearl like texture and is significantly preferred in jewelry
industry owing to its vibrant appearance and color. Its demand in ornamental
stones is also due to the belief of the product being a healing substance that
brings prosperity and reduces stress. Lithium production is an important
application segment on account of rising importance of lithium metal in
batteries.

Based on end-user industry,
the global lepidolite market is segmented into manufacturing industries,
jewelry industry and mineralogy. The product is a precursor to lithium metal
production. Lithium is used in manufacturing of lithium ion & lithium
polymer batteries for mobile phones, laptops, hybrid cars and various other
portable devices. Manufacturing segment constitutes a major chunk of the
overall business size which is attributed to surge in demand for lithium in
aerospace, electronics and automotive applications. The jewelry industry also
holds a prominent share of lepidolite market size due to excellent product
properties including luster, attractiveness and vibrant color.

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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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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.

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