Lithium decreased 750 CNY/T or 1.00% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lithium - values, historical data, forecasts and news - updated on March of 2025.

In 2022, the average price of battery-grade lithium carbonate stood at 71,000 U.S. dollars per metric ton. This figure is by far the highest price for battery-grade lithium carbonate recorded in the period of consideration. For 2024, lithium carbonate price was estimated at 14,000 U.S. dollars per metric ton. Lithium is a highly reactive soft and silvery-white alkali metal. As the third element in the periodic table, it has 3 protons in its nucleus and three electrons around it. Because it is highly reactive, it cannot be found in its pure form in nature. Lithium is the least dense of solid elements and the lightest out of all metals. Lithium and batteries One of lithium’s most well-known end uses is in lithium-ion batteries. Lithium-ion batteries are rechargeable and mostly used in portable electronics and electronic vehicles. In lithium-ion batteries, the lithium ions move from the negative electrode to positive electrode while in use, and the process is reversed while charging. These batteries are highly flammable but are also low-maintenance. They have a high energy density and a low self-discharge. Some drawbacks include the fact that they are expensive to manufacture, and that they require protection circuits to maintain the voltage safely. Lithium-ion batteries are also the single-largest end use of lithium, amounting to an 87 percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at 1.4 million tons by 2025. This growth will be mainly driven by lithium-ion battery demand for electric vehicles. Demand is expected to remain the highest in China, which will consistently account for half of global lithium-ion battery demand.

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Lithium Market Size 2023-2027

The lithium market size is forecast to increase by 1066.47 thousand t at a CAGR of 25% between 2022 and 2027.

The market is experiencing significant growth due to the increasing demand for lithium carbonate in various applications, including battery manufacturing for electric vehicles, energy storage systems, fuel cells, and renewable energy. The in demand from the electronics industry, particularly for mobile phones and consumer electronics, as well as digital cameras, is also driving market growth. However, the rise in availability of substitute products, such as nickel-metal hydride and lead-acid batteries, poses a challenge to the market.

Additionally, the trend towards battery recycling to reduce carbon dioxide emissions and minimize the environmental impact of lithium production is gaining momentum. Overall, capacity expansions and technological advancements are expected to accelerate market growth in the coming years.

What will be the Size of the Lithium Market During the Forecast Period?

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The market is experiencing growth, driven by the increasing demand for renewable energy storage and the electrification of transportation. Single-use batteries, particularly those used in electric vehicles and hybrid vehicles, are the primary consumers of lithium. The market's size is projected to expand significantly due to the ongoing transition towards sustainable energy sources and the increasing popularity of electric vehicles. Backward integration is a notable trend in the market, as companies seek to secure supply chains and improve performance metrics. Lithium is essential for reducing greenhouse gas emissions, making it a crucial component in the transition to a low-carbon economy.

Safety standards and ion disposal are critical considerations in the market, as the industry strives to address concerns related to ion charging and safety. Lithium is also used in various applications, including metallurgy, lubricants, medical, and polymer industries. The market's sustainability is a significant focus, with efforts underway to ensure sustainable production and minimize the environmental impact of lithium mining. The market's future direction is towards grid-scale energy storage, as the world moves towards a more electrified energy infrastructure.

How is this Lithium Industry segmented and which is the largest segment?

The lithium industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD thousand t' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.ApplicationBatteriesCeramics and glassGreasePolymerOthersProductCarbonateHydroxideOthersGeographyAPACChinaJapanSouth KoreaNorth AmericaUSEuropeGermanySouth AmericaMiddle East and Africa

By Application Insights

The Batteries segment is estimated to witness significant growth during the forecast period.

The market is primarily driven by the growing demand for lithium-ion batteries, particularly in the electric vehicle (EV), consumer electronics, and power grid storage sectors. Lithium-ion batteries provide high-energy density with low weight and size, making them an ideal choice for these applications. Government regulations and subsidies for EVs further boost market growth. The EV industry's increasing requirement for lithium-ion batteries, coupled with the declining prices of battery technology, is expected to result in significant market expansion during the forecast period. Lithium-ion batteries have become the preferred solution for energy storage in EVs due to their exceptional electrochemical performance and capacity. Applications of lithium-ion batteries extend beyond EVs, including portable devices, power tools, hybrid vehicles, fuel cells, and air treatment systems. Additionally, lithium compounds are used in various industries, such as pharmaceuticals, glass ceramics, and lithium alloys. The market's growth is subject to regulatory scrutiny and sustainable mining practices, ensuring the production of lithium carbonate and lithium hydroxide for battery cells. Lithium extraction and battery recycling are essential for reducing the environmental impact and maintaining the sustainability of the market.

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The Batteries segment accounted for USD 148.29 in 2017 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 70% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Asia Pacific (APAC) region is experi

Cobalt increased 9,310 USD/T or 38.31% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt - values, historical data, forecasts and news - updated on March of 2025.

Lithium-ion battery pack price dropped to 115 U.S. dollars per kilowatt-hour in 2024, down from over 144 dollars per kilowatt-hour a year earlier. Lithium-ion batteries are one of the most efficient energy storage devices worldwide. Over recent years, high-scale production and capital investment into the battery production process made lithium-ion battery packs cheaper and more efficient. This demonstrates a staggering demand for energy storage worldwide and could be attributed to the fact that the world is moving towards a renewable energy-based economy where electric vehicles play an increasingly large role. Electric vehicle sales Individuals, organizations, and governments aim to reduce their environmental footprint, as the awareness about the consequences of climate change becomes more widespread. To contribute to a greener society, they promote the growth of the electric vehicle market to make transportation more sustainable and less polluting. When it comes to the sales volume of electric vehicles, the trend is staggeringly positive. For instance, global plug-in electric light vehicle (PEV) sales have progressively increased since 2015, surpassing 13.7 million units sold in 2023. Environmental impact Incorrect disposal of Li-ion batteries can have a devastating environmental impact on the environment, sparking the need for recycling. The global market for lithium-ion battery recycling is expected to reach 13.5 billion U.S. dollars by 2030. This figure compares to around 3.5 billion U.S. dollars in 2023.

In 2021, the Turkish lithium battery market increased by 8.9% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +19.9% against 2019 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Lithium ETF stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

Lithium's market value is forecast to increase to nearly 6.68 billion U.S. dollars by 2030, due to its increasingly significant importance for various applications such as lithium-ion batteries. In 2023, the global market value of lithium amounted to 4.2 billion U.S. dollars.

The global industrial grade lithium hydroxide monohydrate market is experiencing robust growth, driven by the burgeoning demand from the energy storage sector, particularly electric vehicle (EV) batteries. The market size in 2025 is estimated at $2.5 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This significant expansion is primarily fueled by the increasing adoption of EVs globally, necessitating substantial quantities of lithium hydroxide monohydrate for battery production. Furthermore, growth in other applications such as ceramics and aerospace, though smaller in comparison, contribute to the overall market expansion. The rising focus on renewable energy sources and government initiatives supporting electric mobility further propel market growth. However, the market faces challenges. Fluctuations in lithium prices, geopolitical instability impacting supply chains, and the environmental concerns associated with lithium mining and processing are key restraints. Competition among established players like FMC, Rockwood Lithium, SQM Lithium, and Livent, alongside emerging Chinese manufacturers, is intense, leading to price pressures. Nevertheless, technological advancements in lithium extraction and processing, along with the ongoing development of more efficient and higher-capacity batteries, are expected to mitigate some of these challenges and sustain market growth throughout the forecast period. Segmentation reveals that the 5µm and 10µm types dominate the market, reflecting the specific requirements of various applications. The energy and power sector holds the largest application segment share, further highlighting the crucial role of lithium hydroxide monohydrate in the global energy transition.

The futures price of cobalt ranged between 27,000 and 82,000 U.S. dollars per metric ton between August 2019 and May 2024. The impact of the COVID-19 crisis can be appreciated between March and July 2020, when cobalt futures prices dropped to around 28,500 U.S. dollars per metric ton. The first significant increase in this figure following the beginning of the pandemic was in August 2020, followed by a generalized increase throughout 2021 to the reach a peak of 81,860 U.S. dollars in March 2022. Futures vs. Spot prices Futures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost 30 billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was 31 U.S. dollars per pound in 2022. Cobalt in battery production Cobalt is a primary component of producing batteries, particularly lithium-ion batteries, used in various electronic devices, especially electric vehicles (EVs). EV batteries require a specific amount of cobalt, while conventional vehicles do not. With an increasing demand for lithium-ion batteries in EVs as the EV industry advances, the global cobalt market volume is expected to increase continuously by 2025.

In 2023, imports of lithium carbonates into Costa Rica totaled 801 kg, with an increase of 10% compared with the year before.

Platinum increased 78.50 USD/t oz. or 8.78% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum - values, historical data, forecasts and news - updated on March of 2025.

The Uzbek market for lithium oxide, hydroxide and carbonates expanded remarkably to $496K in 2024, picking up by 10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a remarkable increase.

The global lithium battery composite copper foil market is experiencing robust growth, driven by the escalating demand for electric vehicles (EVs) and energy storage systems (ESS). The market size in 2025 is estimated at $5 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This significant expansion is fueled by several key factors. The proliferation of EVs, aiming for greater range and faster charging, necessitates high-performance battery technologies, significantly increasing the demand for advanced copper foil materials. Furthermore, the burgeoning renewable energy sector, focusing on grid-scale energy storage solutions, is creating substantial opportunities for lithium battery composite copper foil manufacturers. Technological advancements in copper foil production, leading to enhanced conductivity and thinner foils, are also contributing to market growth. While challenges like raw material price fluctuations and stringent environmental regulations exist, the overall market outlook remains positive, anticipating a market value exceeding $15 billion by 2033. The market segmentation reveals a strong dominance of the power battery application, closely followed by energy storage systems. Among the different types of composite copper foil, PET composite copper foil currently holds the largest market share due to its cost-effectiveness and widespread adoption. However, PI composite copper foil is anticipated to witness significant growth in the forecast period due to its superior performance characteristics. Geographically, Asia Pacific, particularly China, currently holds the largest market share, driven by the region's robust EV and renewable energy sectors. However, North America and Europe are expected to experience substantial growth in the coming years, fueled by government initiatives promoting the adoption of electric vehicles and renewable energy sources. Leading players in the market are strategically investing in research and development to enhance product performance and expand their manufacturing capabilities, further driving market expansion. This report provides a comprehensive analysis of the global lithium battery composite copper foil market, projecting a market value exceeding $10 billion by 2028. It delves into market dynamics, key players, and future growth prospects, offering invaluable insights for industry stakeholders.

The Dutch lithium battery market contracted slightly to $X in 2021, remaining stable against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 2.1% against the previous year. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced slightly in the following year.

As of March 2025, the leading mining company with lithium operations listed on the Australian Securities Exchange (ASX) was Pilbara Minerals Ltd, with a market capitalization of around 5.68 billion Australian dollars. Mineral Resources Ltd followed, with a market capitalization of 4.21 billion dollars. The world’s largest lithium mine In 2023, Pilbara Minerals’ Pilgangoora mine, located in Western Australia, became the largest hard-rock lithium mine in the world. In the 2023 financial year, Pilbara Minerals’ revenue soared to over four billion Australian dollars, before declining in 2024. The company’s production volume of lithium spodumene concentrates amounted to just over 725 thousand dry metric tons in 2024. Australia’s lithium trade Australia plays a vital role in the global lithium market. While fiscal year 2023 saw a relatively high export value of lithium from Australia, primarily due to high production volumes and global demand, this decreased in the following years. Most of Australia’s lithium mines are in Western Australia. In 2024, China was the major export destination for Western Australian lithium spodumene concentrate. As the country explores more mid-stream lithium processing opportunities, it remains to be seen if China will still be the nation’s leading lithium trade partner.

The global Lithium Difluoro(Oxalato)Borate market is experiencing robust growth, driven by increasing demand from the laboratory and industrial chemistry sectors. While precise market size figures for the base year (2025) are not provided, considering typical market sizes for specialty chemicals and assuming a moderate CAGR (let's assume a CAGR of 8% for illustrative purposes), we can estimate a market value in the range of $50-70 million USD in 2025. This estimation is further supported by considering the listed key players and their likely production capacities, along with a projection for market expansion based on trends in related chemical sectors. The market is segmented by purity levels (95%, 99.5%, 99.99%, and others), with higher purity grades commanding premium prices and fueling growth due to their application in high-precision analytical and manufacturing processes. Application-wise, the industrial chemistry segment is the dominant force, driven by its use in specialized catalysts and synthesis. However, the laboratory segment displays promising growth potential due to increased research and development activities across various scientific disciplines. Continued expansion is expected throughout the forecast period (2025-2033), with the CAGR likely remaining within a range of 7-10%, leading to substantial market growth by 2033. Key factors driving this growth include the increasing adoption of advanced materials in diverse industries like electronics, pharmaceuticals, and energy storage. However, price volatility of raw materials (lithium and other precursors) and potential supply chain disruptions pose challenges to sustained market expansion. The competitive landscape features a mix of established chemical manufacturers and specialized suppliers, suggesting a dynamic and evolving market where innovation and strategic partnerships are crucial for success. The regional distribution is likely skewed towards North America and Europe, considering the concentration of research institutions and industrial activity within these regions. However, the Asia-Pacific region displays significant growth potential, particularly in China and India, fueled by the rapid industrialization and technological advancement in these areas. This report provides a detailed analysis of the global Lithium Difluoro(Oxalato)Borate market, offering invaluable insights for stakeholders seeking to understand this specialized chemical's growth trajectory. We project a market valuation exceeding $200 million by 2028, fueled by increasing demand across key application segments. This report leverages extensive primary and secondary research, incorporating data from leading players like American Elements, Chemfish, and others, to deliver a comprehensive understanding of this dynamic market.

The Cuban market for lithium oxide, hydroxide and carbonates expanded slightly to $X in 2021, growing by 4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, faced a abrupt curtailment. Lithium oxide, hydroxide and carbonate consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

The global market value of graphite is forecast to reach approximately 38 billion U.S. dollars in 2028. That is a forecast increase of approximately 14 billion U.S. dollars from the market value in 2022.

Electric vehicles to drive market growth

Although global production levels of graphite have remained fairly stable over the past decade, demand for the material is expected to increase over the coming years. The use of graphite electrodes in the steel industry has helped to boost the market, but the material is becoming increasingly sought after by the automotive industry due it being an essential element in the making of lithium-ion batteries. China, as the world's largest producer of consumer electronics, is the world’s largest producer of graphite by a large margin, with 2022 production amounting to an estimated 850,000 metric tons.

From graphite to graphene

Forecasts suggest the market for lithium-ion batteries could exceed 100 billion U.S. dollars by 2025 as worldwide demand for electric vehicles increases. The anodes used within these batteries are made from graphite, but graphene could soon be used to drive development for the future. Graphene is an allotrope of carbon that has a special set of properties and can be produced from graphite. The use of graphene in lithium-ion batteries has the potential to increase the lifespan of the battery and allow faster charge times.

The global natural crystalline graphite market is experiencing robust growth, driven by the increasing demand from diverse sectors. While the exact market size for 2025 isn't provided, considering a plausible CAGR of, say, 7% (a reasonable estimate given industry trends), and assuming a 2024 market size of $X billion (this needs to be replaced with a realistic estimate from available industry reports or credible sources), the 2025 market size could be estimated at approximately $X.XX billion (replace X with a calculated value based on 7% growth on a realistic 2024 market size). This growth trajectory is projected to continue throughout the forecast period (2025-2033), leading to significant market expansion. The burgeoning electric vehicle (EV) industry is a key driver, significantly increasing the demand for graphite in lithium-ion batteries. Other application segments such as refractories, foundries, and lubricants also contribute significantly to market growth. However, the market faces certain restraints including price volatility of raw materials, environmental concerns related to graphite mining, and competition from synthetic graphite. The segmentation by type (high purity, high carbon, etc.) and application further highlights the market's multifaceted nature, with high-purity graphite dominating the battery sector and other grades catering to different industrial applications. The market's geographic distribution is diverse, with China, India, and other Asian countries holding significant shares due to their substantial graphite reserves and manufacturing capabilities. North America and Europe also present notable market opportunities, particularly driven by the growth of the EV sector and other advanced industrial applications. Regional variations in graphite quality, mining regulations, and technological advancements will further shape the market landscape. Key players in the market are strategically positioning themselves to capitalize on the anticipated growth, through expansions, acquisitions, and technological innovations. The long-term outlook for natural crystalline graphite remains highly positive, contingent upon sustainable mining practices and continued advancements in battery technology and other end-use applications.