Lithium Chloride is ionic salt used as a dehumidifying agent in air conditioners, and it has an excellent moisture absorption effect and can absorb 1000 times its mass, even in external environmental conditions. According to BlueQuark Research & Consulting, the Global Lithium chloride Market is expected to witness a significant growth rate during the forecasted period. Factors such as the increasing demand for lithium chloride in the automobile industry due to its use in Li ion battery applications of automobiles are expected to drive the direction of the lithium chloride market in the forecasted period. Further, the increasing trend of electrification of cars across the globe is anticipated to drive the global lithium chloride market in the forecasted period. Furthermore, the demand for lithium chloride in the biomedical sector is expected to boost the lithium chloride market in the forecasted period. However, the health hazards associated with the lithium market are anticipated to hinder the growth of the lithium chloride market in the forecasted period.

Lithium chloride is primarily utilized in the electrolysis of lithium metal. It is also used as an aluminum brazing flux in-vehicle component and as a desiccant to dry air streams. It is also utilized in various electronics industries, the manufacturing of lithium-ion batteries, and pharmaceutical drugs such as antimanic agents.

The growth of the global lithium chloride industry is majorly attributable to its broad applications in various industries such as batteries, air treatment, and others. Lithium chloride is used in producing metallic lithium, welding fluxes, and as an aqueous solution for humidity management in air conditioning. Lithium chloride is used in batteries, air treatment, and others applications. It is also utilized for the production of lithium metal by electrolysis, and it is also utilized as a brazing flux for aluminum in automobile parts. In addition, it is highly hygroscopic and is commonly used in dehumidification systems in sectors like food processing and horticulture to remove moisture from the air. Further, lithium chloride is becoming increasingly important in creating industrial products, particularly batteries for electronic gadgets and electric cars. Lithium chloride is used as an electrolyte in batteries or further processed to manufacture lithium metal for lead and magnesium alloys, lithium hydride for high-purity silane, and lithium nitride is used as a catalyst. Lithium ion batteries can be used in many combinations of active materials for the anode, cathode, and electrolyte. Among all other industries, the use of lithium in secondary batteries has seen the most market growth. Lithium chloride is also in demand in smartphones, tablets, smartwatches, cameras, and pacemakers due to it can store up to 150 watt-hours of electricity in 1 kilogram of battery. Lithium chloride hydrate materials can be deteriorated by electrolysis to chlorine gas and metal. They are formed through different chlorination processes whereby at least one chlorine anion is covalently bonded to the relevant metal. It is widely used in electric vehicle parts. Such demand for lithium chloride hydrate in automobile applications is expected to boost the lithium chloride market growth throughout the forecasted period.

North America is the most prominent region in the international industry due to the region's developing aerospace and military sectors. Germany, the U.K., and France are among the essential European nations, owing to these countries' growing automotive and military industries. Population growth, urbanization, and lifestyle changes are expected to drive revenue growth in the Asia Pacific market over the forecast period. The medical use of lithium chloride has gained traction worldwide. Lithium chloride is one of the most well-known mood stabilizers with antisuicidal effects. It is now used as an agent for acute mania and maintenance treatment in bipolar disorder. Further, process improvements have made lithium chloride affordable for various industries. LiCl is created by combining hydrochloric acid (HCl) with lithium carbonate. It has the remarkable virtue of being very soluble in polar solvents. It functions as a standard ionic compound and an aluminum brazing flux in automotive applications and is a source used for lithium metal electrolysis. It is employed as a desiccant in the drying of air streams. In organic synthesis, it is often utilized as an addition. In biochemical applications, it is used to extract RNA from cellular samples. The industry for this product has grown owing to its uses and the cost-effective extraction and processing of lithium hydroxide from salts, rocks, and pegmatite. The hygroscopic salt lithium chloride is employed in fluxes, dehumidification, and zeolites. LiCl is distinguished by its weak melting point and solid ionic conductivity, which makes it a good component for thermal barriers in molten salt electrolytes. These factors are driving the global market revenue growth during the forecast period.

The market's key players are Albemarle, FENGCHEN GROUP CO., LT, Ganfeng Lithium, Harshil Industries, and Hefei TNJ Chemical Industry Co., Ltd.

In June 2022, Albemarle Corporation, one of the world's foremost lithium producers and a Chilean company for more than 40 years, launched its third chemical conversion facility, La Negra III/IV, in Antofagasta as one of the most advanced in Latin America. The plant's new technology is intended to increase lithium output while reducing the company's low freshwater usage, demonstrating a solid commitment to sustainable manufacturing.

In September 2020, Albemarle Corporation, a worldwide specialty chemicals leader, announced that the United States Department of Energy had chosen it as a crucial partner for two lithium research projects spanning three years under a Battery Manufacturing Lab Call. In addition, Albemarle will collaborate with two DOE laboratories on the company's authorized initiatives.

The Global Lithium Chloride Market report provides deep insight into the market's current and future state across various regions. The study comprehensively analyses the Lithium chloride market by segmenting it based on Type (Lithium Chloride Hydrate, Lithium Chloride Anhydrous, Others), Application ( Batteries, Air Treatment, Others), End-use Industry ( Electronics, Automotive, Others), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report examines the market drivers and restraints and the impact of COVID-19 on market growth in detail. The research examines emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched sections on the competitive landscape with prominent companies and profiles, including their market shares and projects.