The COVID-19 pandemic has brought about a wave of disruption across businesses worldwide. It has also provoked a sense of fear amongst people and induced anxiety and restlessness all together. In wake of this, lepidolite market a mineral of mica group has gained traction in healing applications.
Ocean View, DE -- (SBWIRE) -- 06/25/2020 -- Also known as a 'stone of transition', lepidolite market assists in release and reorganization of psychological patterns while bringing deep emotional healing, soothing, reducing depression and stress. And in this regard, it is majorly been used in the jewelry industry over the years. Just like most of the other colored gemstones, lepidolite is extensively used in the artisan jewelry for daily wear pieces or in ornamentation. Also due to its inexpensive nature, the mineral is rarely paired with expensive metals or gemstones.
Apart from ornamentation, lepidolite market boasts of other distinct applications and can be crafted into homeware, picture frames, candle holders, and others. A French luxury goods mammoth engaged in design, manufacturing, and distribution of jewelry and watch – Cartier International- in 2017 launched its art-decor inspired home collection in India. The company is involved in sales of different homeware and decorative items designed with high gloss lacquer, red jasper, lepidolite, and onyx. Initiatives like these are expected to push the expansion of lepidolite market in the upcoming years.
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Elaborating further, lepidolite market is also used as heat insulator in the industrial sector and is used abundantly in the synthesis of lithium metal. Lithium, which is considered to be one of the lightest metals, is largely used for development of lightweight lithium ion and lithium polymer batteries for hybrid cars, laptops, mobile phones, and various other portable devices. Large scale proliferation of these devices is attributable to the high economic affluence of people across the globe paired with growing population of middle class.
This growth is also positively influencing the adoption of lepidolite across the consumer goods. Besides, various companies having been looking for opportunities to take a step forward in the lepidolite market for the production of lithium batteries with an intent of addressing the burgeoning needs across the EV market.
One such company, Lepidico market, a global lithium exploration and development firm, last year declared taking over a junior miner with operations in Namibia- Desert Lion, for creating an integrated lithium business. The deal would require former company to combine Desert Lion's Helikon and Rubicon lepidolite deposits to accelerate the process of lithium hydroxide for serving the industries operating in lithium batteries.
In light of the intense share battle, North America and Europe are likely to emerge as lucrative growth grounds for lepidolite industry owing to high feasibility of the mineral in these regions in tandem with high per capita income of consumers. It is imperative to note that the regions are also witnessing a surging demand for lithium polymer and ion batteries from aerospace and automobile sectors, projecting immense growth opportunities for the market players operating in the region.
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Meanwhile, Asia Pacific is anticipated to emerge as a hotbed for investment in lepidolite market in the years to come. This growth can be credited to the rapid urbanization and industrialization that has impelled the manufacturing, consumer goods industries over a large scale. This has triggered a notable elevation in demand for lithium production. In addition to this, residents of the countries like India, China, and others have begun developing their taste for authentic and appealing stone jewelry, invoking the demand for lepidolite stones in the region.
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