Lithium fell to 59,900 CNY/T on June 24, 2025, down 0.08% from the previous day. Over the past month, Lithium's price has fallen 4.16%, and is down 34.54% compared to the same time last year, 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 June 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.

The total cost of producing battery grade lithium carbonate by 2025 is expected to amount to approximately 4,165 and 5,500 U.S. dollars per ton of lithium carbonate equivalent from brine and spodumene, respectively. For the production of battery grade lithium carbonate from spodumene, the highest costs are forecast to be allocated in the processing of this mineral.

In 2022, the average price of battery-grade lithium carbonate stood at ****** 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 ****** 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 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 ** percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at *** 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.

In the first quarter of 2025, the U.S. lithium carbonate market experienced fluctuating dynamics shaped by ongoing global oversupply, restrained demand, and geopolitical uncertainty. Prices exhibited a gradual decline through January and February before stabilizing in March. Production and supply dynamics were shaped by a projected 16% increase in global capacity, driven by expansions in Chile, Australia, and Africa. Chile alone is expected to reach 305,000 tons of lithium output in 2025.

Get the latest insights on price movement and trend analysis of Lithium Phosphate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

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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 surge in demand from various applications, including batteries for electric vehicles, ceramics, and glass industries. This demand is driving capacity expansions among key players to meet the increasing market needs. However, the market faces challenges from the rising availability of substitute products, such as nickel-metal hydride and lead-acid batteries, which may impact the adoption rate of lithium-ion batteries. Additionally, the production process of lithium involves complex and energy-intensive procedures, which can increase the overall cost and potentially hinder market penetration.
Companies seeking to capitalize on market opportunities should focus on improving the efficiency and sustainability of lithium production processes. Meanwhile, those looking to navigate challenges effectively may explore collaborations and partnerships to share resources and expertise, as well as invest in research and development to differentiate their offerings and stay competitive.

What will be the Size of the Lithium Market during the forecast period?

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The market continues to evolve, driven by the expanding applications of lithium-ion batteries (LIBs) across various sectors. From electric vehicles (EVs) and electric buses to consumer electronics, electric bicycles, and portable power, the demand for LIBs is on the rise. This continuous growth is influenced by several factors, including advancements in battery technology such as solid-state batteries and battery recycling. The lithium supply chain is undergoing significant changes, with a focus on resource scarcity and environmental impact. Innovations in cathode materials, anode materials, and cell manufacturing are aimed at improving energy density, power output, and battery life.

Thermal management and battery safety standards are also critical considerations, as the industry strives to ensure the reliability and safety of these energy storage solutions. Battery swapping and battery management systems are gaining traction in the market, providing convenient and efficient solutions for charging infrastructure. Renewable energy integration and hydrogen storage are emerging applications for LIBs, further expanding their reach. Moreover, the development of alternative battery technologies, such as lithium-sodium batteries, lithium-air batteries, and flow batteries, is adding to the market's dynamism. Incentives and subsidies are also playing a crucial role in driving the adoption of these energy storage solutions.

The ongoing evolution of the market is marked by a constant pursuit of energy efficiency, power output, and safety standards. The integration of these advancements into battery design and manufacturing processes is shaping the future of the industry.

How is this Lithium Industry segmented?

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.

Application

  Batteries
  Ceramics and glass
  Grease
  Polymer
  Others


Product

  Carbonate
  Hydroxide
  Metal
  Chloride
  Others


Source

  Brine
  Hardrock


End-user Industry

  Automotive
  Electronics
  Energy Storage
  Aerospace
  Industrial
  Healthcare
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

.

By Application Insights

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

The market is primarily driven by the increasing demand for lithium-ion batteries, particularly in sectors such as electric vehicles (EVs), consumer electronics, and power grid storage. Lithium-ion batteries, known for their high-energy density, low weight, and size, are favored for their ability to power various applications. The EV industry's growing requirement for these batteries, coupled with declining battery technology prices and government regulations and subsidies, is expected to fuel market growth. Lithium-ion batteries are also gaining popularity in other sectors, including electric buses, portable power, and electric motorcycles. The market's evolution is further shaped by advancements in battery technology, such as solid-state batteries, lithium-sulfur batteries, sodium-ion batteries, and lithium-air ba

Germany, France, and Italy have seen a decrease in the cost of home lithium-ion batteries between 2021 and 2023. The largest price drop was observed in Italy, where the cost of lithium-ion battery storage systems decreased by around ** percent. By comparison, the cost of home battery storage systems has recorded an increase in the United Kingdom.

The lithium-ion battery material market is experiencing robust growth, driven by the increasing demand for electric vehicles (EVs), energy storage systems (ESS), and portable electronics. The market's expansion is fueled by several key factors, including government initiatives promoting electric mobility and renewable energy adoption, advancements in battery technology leading to higher energy density and longer lifespan, and the declining cost of lithium-ion batteries. While precise market sizing data wasn't provided, considering the current market trends and the growth rate of related sectors like EVs and renewable energy, a reasonable estimation places the 2025 market value at approximately $50 billion. Assuming a conservative Compound Annual Growth Rate (CAGR) of 15% for the forecast period (2025-2033), the market is projected to reach a substantial size by 2033. Major players like CATL, LG Energy Solution, and Panasonic, along with numerous Chinese manufacturers such as those listed, are actively competing to secure market share through innovation and strategic partnerships. However, challenges persist. Fluctuations in lithium prices, geopolitical uncertainties impacting raw material supply chains, and environmental concerns related to lithium mining and battery recycling pose significant restraints. The market segmentation is complex, encompassing various materials like lithium carbonate, lithium hydroxide, cathode materials (NMC, LFP, LCO), anode materials (graphite), and electrolytes. The competitive landscape is intensely dynamic, with established players and emerging companies vying for dominance in different segments. Geographic distribution is expected to be heavily skewed towards regions with strong EV adoption and advanced manufacturing capabilities, such as Asia (particularly China), Europe, and North America. Further market penetration hinges on technological breakthroughs addressing battery limitations, including energy density, safety, and cost-effectiveness. Successful navigation of these challenges will be crucial for continued market growth.

Lithium Market Outlook

The global lithium market size was valued at approximately USD 8.3 billion in 2023 and is expected to reach around USD 26.9 billion by 2032, exhibiting a robust compound annual growth rate (CAGR) of 14.2% during the forecast period. This impressive growth trajectory is primarily driven by the burgeoning demand for lithium-ion batteries, pivotal in propelling the electric vehicle (EV) revolution and portable consumer electronics. The increasing commitment of governments worldwide to transition to renewable energy and reduce carbon emissions is another significant driver, further catalyzing the adoption of lithium-ion technologies across various sectors.

A critical growth factor for the lithium market is the rapid expansion of the electric vehicle (EV) sector. With automotive giants and startups alike accelerating their production of electric models, the demand for lithium, a key component in EV batteries, has surged. Policies aimed at reducing dependency on fossil fuels and incentivizing cleaner transportation options are amplifying this trend. For instance, several countries, including China, the United States, and members of the European Union, have set ambitious targets for EV adoption, fueling substantial investments in lithium extraction and battery production facilities. Additionally, advancements in battery technology that increase energy density and reduce costs are making EVs more accessible to the mass market, thereby increasing lithium demand.

The proliferation of renewable energy initiatives and the associated need for efficient energy storage solutions present another growth vector for the lithium market. Renewable energy sources like solar and wind are inherently intermittent, necessitating reliable storage solutions to ensure a stable power supply. Lithium-ion batteries have emerged as the preferred choice due to their high energy density, efficiency, and declining costs. As countries globally push towards achieving sustainable energy goals, the deployment of large-scale lithium-ion battery storage systems is anticipated to expand, further bolstering the market. Additionally, advancements in grid infrastructure that integrate renewable energy sources are expected to contribute significantly to the growing demand for lithium-based solutions.

Technological innovation and increased investment in research and development are further enhancing the growth prospects of the lithium market. Research into alternative lithium extraction methods, such as direct lithium extraction (DLE) from brines, is gaining traction, promising more environmentally friendly and cost-effective solutions than traditional mining methods. Moreover, ongoing improvements in battery recycling technologies aim to recover lithium from spent batteries efficiently, reducing dependency on new lithium extraction and supporting circular economy initiatives. These technological advancements are critical for meeting future lithium demand sustainably and mitigating environmental impacts associated with lithium production.

Regionally, Asia Pacific is expected to dominate the lithium market due to its robust manufacturing base and rapidly growing EV industry. The presence of major battery manufacturers and a conducive regulatory environment further bolster this region's growth. In contrast, North America and Europe are experiencing heightened demand driven by policy incentives and technological innovation. Latin America, home to the 'Lithium Triangle'—a region abundant in lithium reserves—is emerging as a key player in the supply chain, while the Middle East & Africa are gradually increasing their market presence with investments in mining and battery manufacturing.

Type Analysis

The lithium market is segmented into various types, including lithium carbonate, lithium hydroxide, lithium chloride, and others, each playing a distinct role in diverse applications. Lithium carbonate is currently the most widely used type, primarily due to its application in the production of lithium-ion batteries. As the demand for electric vehicles and portable electronic devices continues to grow, the consumption of lithium carbonate is expected to see a significant rise. This compound is also used in the manufacturing of glass and ceramics, where it enhances the physical properties of the materials. Thus, the multifaceted applications of lithium carbonate make it a cornerstone of the lithium market.

Lithium hydroxide is gaining prominence due to its superior performance in high-nickel content lithium-ion batteries, which offer higher energy densities. This type is incre

This statistic shows a cost breakdown of lithium batteries by material in 2015. On average, cathodes accounted for 31 percent of the total production costs. The lithium-containing cathode material is one of the most important features of a lithium electric vehicle battery.

During the first quarter of 2025, the lithium hexafluorophosphate market in the United States exhibited significant volatility, shaped by persistent global oversupply, sluggish upstream lithium fluoride pricing, policy uncertainty, and fluctuating demand from downstream battery sectors. In January, prices weakened in line with falling lithium fluoride costs, which declined due to cheaper imports and weak support from lithium carbonate and hydrogen fluoride.

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Laminate Lithium-Ion Battery Market Size 2024-2028

The laminate lithium-ion battery market size is forecast to increase by USD 20.6 billion at a CAGR of 13.17% between 2023 and 2028.

The market is experiencing significant growth due to the increasing demand for high-performance batteries. This trend is driven by the widespread adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), which require advanced battery technology to deliver optimal power and efficiency. However, the high cost of lithium-ion batteries remains a major challenge for market growth. To address this issue, manufacturers are exploring alternative materials and production methods to reduce costs while maintaining battery performance. Additionally, advancements in battery technology, such as solid-state batteries and graphene batteries, may provide cost-effective solutions for the future of the lithium-ion battery market. Overall, the market is expected to continue growing as the demand for clean energy solutions increases and technology advances.

What will be the Size of the Laminate Lithium-Ion Battery Market During the Forecast Period?

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The market encompasses rechargeable batteries utilized in various industries, including electric vehicles, consumer electronics, medical equipment, and industrial applications. These batteries, which include LCOO2 and LiFePO4 types, have surpassed nickel cadmium batteries due to their superior energy density, longer cycle life, and increased safety. The market's growth is driven by the expanding demand for portable electronic devices and the increasing adoption of electric vehicles In the transportation industry.
Furthermore, the defense industry, agricultural field, and maritime boundary disputes are among the significant end-users. Investment climates and Brexit-related uncertainties may influence the market dynamics. Additionally, advancements in technology, such as lithium-ion stacked batteries and perovskite stack batteries, offer opportunities for market expansion. Offshore exploration activities and subsea manifolds systems are other potential applications.

How is this Laminate Lithium-Ion Battery Industry segmented and which is the largest segment?

The laminate lithium-ion battery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  LiCoO2 battery
  LiFePO4 battery
  Lithium Nickel Manganese Cobalt and Others


Application

  Consumer electronics
  Automotive
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany


  South America



  Middle East and Africa

By Type Insights

The LiCoO2 battery segment is estimated to witness significant growth during the forecast period.

Lithium-ion batteries, specifically LiCoO2 and LiFePO4 types, dominate various sectors including consumer electronics, medical equipment, and electric vehicles due to their high energy density and long cycle life. LiCoO2 batteries, in particular, are widely adopted in portable electronic devices like smartphones, laptops, and digital cameras. However, their use extends to industrial applications such as new energy vehicles and offshore exploration activities. Despite their advantages, LiCoO2 batteries face challenges, including thermal instability and the scarcity and cost of cobalt, a crucial component. Alternative chemistries like Perovskite Stack Batteries and Lithium-Ion Stacked Batteries are gaining traction to address these challenges. The market for laminate lithium-ion batteries is influenced by factors such as investment climates, energy consumption trends, and advancements in digital technology.

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The LiCoO2 battery segment was valued at USD 7.58 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 51% 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 Asia Pacific (APAC) region is experiencing significant growth In the market. Factors such as expanding economies, increasing population, and surging demand for consumer electronics and electric vehicles (EVs) are creating a favorable business climate. The need for clean energy solutions and government initiatives to promote EV adoption further boosts the market's expansion. Key players and substantial investment in research and development activities are also contributin

In 2023, the majority of cost for lithium-ion batteries in India was contributed to materials. Among LFP, NMC 811, and MNC 622 batteries, LFP had the lowest cost of materials at 51.4 percent. On the other hand, NMC 811 batteries had the lowest manufacturing cost at 14.6 percent.

In 2023, approx. 17K tons of lithium carbonates were imported into the United States; picking up by 7.2% on the year before.

In April 2023, the price of Lithium Carbonate was reported at $67,831 per ton (CIF, Japan), a 1.6% increase compared to the previous month.

The lithium fluoride prices in the United States for Q3 2024 reached 44,000 USD/MT in September. The market saw low demand, surplus stock, and slow purchasing that resulted in falling prices. Support for upstream costs was limited, whereas rising imports intensified the strain. The quarter's results indicated negative conditions and ongoing downward trends, highlighting difficult economic situations.

Get the latest insights on price movement and trend analysis of Lithium Hydroxide in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Why did the Lithium Metal Price Change in May 2025? The Lithium Metal Price Index in North American market ended Q1 2025 settling at USD 163,210/MT FOB Boston, demonstrating a moderate increase from Q4 2024.

Access global Lithium Carbonate prices in locations such as Global, Europe. Includes monthly historical series and forecasts. Delivered via online charts, Excel, Power BI, and API. Free preview.