New York, Oct. 18, 2023 (GLOBE NEWSWIRE) — The global lithium hydroxide market size is estimated to attain at ~15% CAGR from 2023 to 2035. The market is expected to garner a revenue of USD 36 billion by the end of 2035, up from a revenue of ~USD 19 billion in the year 2022.The growth of the market is projected to rise on account of growing demand for electric vehicles. For instance, in 2022 globally, about 9 million electric vehicles were sold. This year, the number of sold electric vehicles is projected to rise by 34% making the total reach about 13 million.  Hence, the demand for lithium compounds is rising due to the market for electric vehicles.
(GlobeNewsWire)