Lithium Iodide Market Outlook:
Lithium Iodide Market size was valued at USD 117.16 million in 2025 and is set to exceed USD 198.24 million by 2035, expanding at over 5.4% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of lithium iodide is estimated at USD 122.85 million.
The growing use of lithium iodide in the chemical industry is driving market growth, as lithium iodide can act as a catalyst or a co-catalyst in various chemical reactions. It is particularly used in certain organic synthesis reactions, such as the coupling of organometallic compounds and halogenation reactions.
The rising demand for renewable energy is also expected to boost the lithium iodide market growth. According to the analysis, renewables will be responsible for more than 90% of global electricity expansion over the next five years. Wind and solar will account for more than 90% of new renewable electricity capacity installed over the next five years. Lithium iodide has potential applications in certain types of solar cells, specifically perovskite solar cells. It aids the crystallization and formation of the perovskite layer and improves the efficiency of power generation from solar cells.
