The demand for lithium-ion batteries has been growing rapidly in recent years, driven by the growth of the EV market and the increasing adoption of renewable energy sources. In order to meet this demand, the production of Lithium Hydroxide has also been increasing. The global lithium hydroxide market was valued at $613 million in 2019 and is expected to reach $2.0 billion by 2027, growing at a CAGR of 17.6% from 2020 to 2027.

The increasing demand for lithium hydroxide has also led to concerns about the sustainability of its production. Lithium mining has been associated with environmental issues such as water scarcity, pollution, and habitat destruction. However, there are efforts underway to improve the sustainability of lithium production. For example, some companies are exploring the use of direct lithium extraction (DLE) technology, which uses less water and has a smaller environmental footprint than traditional mining methods.

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