High Prevalence of Bipolar Disorder and Growing Construction Sector to Augment Growth of Lithium Carbonate Market
Lithium carbonate is used in batteries, ceramics and glass, cement and aluminum, and pharmaceutical. Market Dynamics High prevalence of bipolar disorder is expected to propel growth of the lithium carbonate market . For instance, according to 2018 study in Therapeutic Advances in Psychopharmacology, one survey of 11 countries found the lifetime prevalence of bipolar disorder was 2.4%. The U.S. had a 1% prevalence of bipolar type I. Moreover, increasing production of cement is also expected to aid in growth of the market. For instance, according to International Energy Agency, 4.1 Gt of cement were produced globally in 2019. Production reached a high of 4.2 Gt in 2014 and has since remained at around 4.1 Gt. Growing construction sector is expected to offer lucrative growth opportunities for players in the lithium carbonate market. For instance, according to the U.S. Census Bureau, in February 2020, there were 1,464,000, building permits, 1,599,000 housing starts, and 1,...