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.

During the last quarter of 2024, the lithium carbonate prices in the USA reached 10,842 USD/MT in December. As per the lithium carbonate price chart, due to excess and little demand, the market saw fluctuations. At first, prices stayed constant, but when supply exceeded demand, they began to decline. The market was soon dominated by lower-priced cargoes after a brief price spike brought on by expensive imports.

Explore IMARC’s newly published report, titled “Lithium Carbonate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of lithium carbonate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

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Lithium Carbonate Market Size 2025-2029

The lithium carbonate market size is forecast to increase by USD 4.98 billion at a CAGR of 14.1% between 2024 and 2029.

The market is experiencing significant growth due to the increasing demand for lithium-ion batteries in various applications, particularly in the electric vehicle (EV) industry. This trend is driven by the global shift towards sustainable transportation and the depletion of fossil fuel resources. Additionally, recycling initiatives for EV batteries are gaining traction, further boosting the demand for lithium carbonate. However, challenges such as the shortage of EV charging stations and the high production cost of lithium carbonate may hinder market growth. The market analysis report provides an in-depth examination of these trends and challenges, offering valuable insights for stakeholders and investors in the lithium carbonate industry.

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

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Lithium carbonate, a vital component in the pharmaceutical industry, plays a significant role in the treatment of various mood disorders. This inorganic compound is particularly effective in managing mood stabilizing medications for individuals suffering from mental illnesses, including bipolar disorder, mania, hypomania, depression, schizophrenia, and mood swings. Lithium carbonate works by regulating the levels of neurotransmitters such as dopamine and serotonin in the brain. The use of lithium carbonate in the medical field has been extensive due to its efficacy in managing symptoms related to these disorders. However, its application is not without challenges. Patients undergoing treatment may experience side effects such as stomach discomfort, nausea, diarrhea, vertigo, dizziness, muscle weakness, shaking hands, tiredness, thirst, urination, weight changes, metallic taste, saliva, acne, rash, headache, and lithium toxicity.
Moreover, despite these challenges, the demand for lithium carbonate remains high due to its proven therapeutic benefits. Blood tests are essential in monitoring lithium levels in patients to prevent toxicity and ensure effective treatment. The addiction potential of lithium carbonate is minimal compared to other psychiatric medications. Overall, the market for lithium carbonate continues to grow as research and development efforts focus on improving its efficacy and minimizing side effects.

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

The Lithium Carbonate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Batteries
  Ceramics and glass
  Cement and aluminum
  Others


Distribution Channel

  Direct sale
  Indirect sale


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  Middle East and Africa



  South America

    Brazil

By Application Insights

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

Lithium carbonate is a crucial component in the production of cathode materials for lithium-ion batteries, specifically for electric vehicles (EVs), energy grid storage, and consumer electronics. The higher the lithium content, the better the quality, with 99.9% lithium content being considered EV-grade and 99.5% as standard battery-grade. Lithium carbonate's excellent electrochemical inertness makes it ideal for manufacturing protective cathode layers in lithium-ion batteries. Lithium carbonate-based batteries, such as lithium cobalt oxide, offer stable capacities and high specific energy, making them suitable for use in smartphones, laptops, and digital cameras. These batteries' desirable characteristics contribute to their widespread use in various industries.

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The batteries segment was valued at USD 2.09 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 73% 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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Lithium carbonate is a critical raw material for producing lithium-ion batteries, which have gained significant popularity due to their application in electric vehicles (EVs) and renewable energy storage systems. The increasing adoption of EVs, particularly in countries like China and India, is driving the

In 2025, the price of 99% lithium carbonate is projected to be around 7.60 U.S. dollars per kilogram.

Growing global lithium demand

There has been a steady increase in battery demand globally, which in turn becomes a strong driver of lithium usage in the future. However, producers have been unable to keep up with the demand. In 2025, global lithium demand is expected to reach 4,450 metric tons of lithium carbonate equivalent for non-rechargeable batteries. The 2018 annual average price of battery-grade lithium carbonate was 17,000 U.S. dollars per metric ton, increased from the 15,000 U.S. dollars in the previous year.

Lithium demand by application Lithium has many end use applications aside from batteries. For example, demand for lithium in ceramics is anticipated to reach 51,788 metric tons of lithium carbonate equivalent in 2025. Another example is that the demand for lithium in polymers is expected to grow to 12,624 metric tons of lithium carbonate equivalent by 2025, from the 2018 demand which was 9,873 metric tons.

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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

The Ukrainian lithium carbonate market shrank remarkably to $71K in 2024, falling by -37.1% 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). Overall, consumption showed a abrupt descent. Over the period under review, the market attained the peak level at $184K in 2013; however, from 2014 to 2024, consumption remained at a lower figure.

The global industrial grade lithium carbonate market is experiencing robust growth, driven by the burgeoning demand from energy storage and battery systems, particularly in the electric vehicle (EV) sector. 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 the increasing adoption of EVs globally, coupled with the growing investments in renewable energy infrastructure and grid-scale energy storage solutions. Furthermore, the demand from the ceramics and specialty glasses industries contributes to overall market growth, albeit at a smaller scale compared to the energy sector. While supply chain constraints and fluctuating lithium prices pose challenges, technological advancements in lithium extraction and processing are mitigating these risks, enhancing the overall market outlook. The market segmentation reveals a strong preference for high-purity lithium carbonate (99.8%), reflecting the stringent quality requirements of the battery industry. The geographical distribution shows a significant concentration in Asia-Pacific, driven by the massive EV production capacity in China and the expanding energy storage markets in other Asian countries. North America and Europe also represent substantial market shares, reflecting their established automotive and renewable energy sectors. Leading players like SQM, Albemarle, and Tianqi Lithium are strategically expanding their production capacities and exploring new lithium sources to meet the escalating global demand. The forecast period (2025-2033) presents significant opportunities for market expansion, driven by the continued growth in the EV market, increasing government support for renewable energy initiatives, and ongoing technological innovations within the lithium industry. However, sustainable sourcing practices and responsible environmental management will be crucial to ensure the long-term viability and sustainability of the lithium carbonate market. This comprehensive report provides an in-depth analysis of the global industrial grade lithium carbonate market, a crucial component in various high-growth sectors. Valued at approximately $15 billion in 2023, the market is projected to witness significant expansion, driven by the explosive demand from the electric vehicle (EV) battery sector. This report offers a granular view of market dynamics, including production trends, key players, and future growth prospects. Search terms like "lithium carbonate price," "lithium battery market," "lithium carbonate suppliers," and "lithium carbonate applications" are extensively covered.

The global market for EV Battery Grade Lithium Carbonate is experiencing robust growth, driven by the burgeoning electric vehicle (EV) industry. The increasing demand for EVs worldwide, spurred by government regulations promoting cleaner transportation and rising consumer awareness of environmental concerns, is a primary catalyst for this expansion. Technological advancements in battery technology, leading to higher energy density and longer lifespan, further contribute to the market's positive trajectory. While precise market size figures for 2025 are not explicitly provided, considering a plausible CAGR (let's assume 15% based on industry reports) and a reasonable 2024 market value (estimated at $10 billion), the 2025 market size for EV Battery Grade Lithium Carbonate can be estimated to be around $11.5 billion. This significant growth is expected to continue throughout the forecast period (2025-2033), with the market potentially reaching values substantially higher by 2033, depending on several factors such as raw material availability, technological breakthroughs, and geopolitical stability. Several factors, however, pose challenges to this growth. Supply chain disruptions, geopolitical uncertainties affecting key lithium-producing regions, and the environmental impact of lithium extraction are potential restraints. Furthermore, the intense competition among major players like SQM, Albemarle, and Livent necessitates continuous innovation and strategic partnerships to maintain market share. The segmentation of the market, encompassing various extraction methods (salt lake extraction, lithium ore extraction) and applications (BEVs, PHEVs), presents both opportunities and challenges, with the BEV segment anticipated to dominate the market given the strong growth of fully electric vehicles. Analyzing regional variations is also crucial, with regions like North America, Asia-Pacific (particularly China), and South America playing significant roles in both production and consumption. The market's future success hinges on addressing these challenges while capitalizing on the continued growth in the EV sector and the ongoing development of advanced battery technologies. This comprehensive report provides an in-depth analysis of the burgeoning EV Battery Grade Lithium Carbonate market, projected to reach a value exceeding $XX billion by 2030. We delve into the intricate dynamics shaping this critical component of the electric vehicle revolution, covering production, consumption, pricing trends, and competitive landscapes. This report is essential for investors, industry players, researchers, and policymakers seeking a granular understanding of this rapidly evolving market.

After two years of growth, the U.S. market for lithium oxide, hydroxide and carbonates decreased by -17.1% to $218M in 2024. In general, consumption enjoyed a prominent expansion. As a result, consumption reached the peak level of $263M, and then fell remarkably in the following year.

The Iranian lithium carbonate market contracted modestly to $184K in 2024, falling by -2.6% against the previous year. Over the period under review, consumption, however, showed a perceptible contraction. Over the period under review, the market reached the peak level at $670K in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

The global lithium carbonate market for electric vehicles (EVs) is experiencing explosive growth, fueled by the accelerating adoption of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) worldwide. The market, currently valued at approximately $15 billion in 2025 (this figure is an estimation based on typical market sizes for similar rapidly growing sectors and publicly available data on lithium carbonate production), is projected to experience a robust Compound Annual Growth Rate (CAGR) of 25% from 2025 to 2033. This significant expansion is driven by several key factors, including increasing government incentives for EV adoption, stringent emission regulations pushing automakers towards electrification, advancements in battery technology leading to improved energy density and lifespan, and the rising consumer demand for sustainable transportation solutions. Key players like SQM, Albemarle, and Ganfeng Lithium are strategically investing in expanding their lithium carbonate production capacity to meet this surging demand. Different extraction methods, including salt lake extraction and lithium ore extraction, contribute to the overall supply chain, with salt lakes currently holding a significant market share. However, geographical constraints and environmental concerns related to certain extraction methods present challenges for the industry. The market segmentation reveals a strong correlation between lithium carbonate production and EV types. BEVs, with their larger battery packs, dominate the application segment. Regional analysis indicates that Asia Pacific, particularly China, is the leading market, driven by its massive EV manufacturing base and substantial government support. North America and Europe are also significant markets, experiencing substantial growth fueled by increasing EV sales and infrastructure development. While the market enjoys strong growth prospects, challenges remain, including geopolitical risks associated with lithium supply chains, price volatility of lithium raw materials, and the ongoing need for sustainable and environmentally responsible mining practices. Sustained innovation in battery technology and lithium extraction methods will be crucial in ensuring the long-term viability and sustainability of the lithium carbonate market for EVs. This report provides a detailed analysis of the burgeoning lithium carbonate market for electric vehicles (EVs), a crucial component driving the global transition to sustainable transportation. We delve into production trends, key players, market segmentation, and future projections, offering invaluable insights for industry stakeholders. The market is projected to experience significant growth, driven by the escalating demand for EVs globally.

Lithium Mining Market size was valued at USD 3.94 Billion in 2024 and is projected to reach USD 5.71 Billion by 2031, growing at a CAGR of 5.23% from 2024 to 2031.

Lithium Mining Market Drivers

Lithium mining extracts lithium from the earth’s crust. Lithium is one of the chemical elements with several industrial applications, which is used in the production of sophisticated products for the automotive, electronics, and healthcare industries. Because it can be utilized in numerous lithium-ion batteries, medications, and grease lubricants, among other things. It can be applied to treat a variety of mental illnesses and eating disorders, including bulimia, anorexia, bipolar disorder, and schizophrenia. In addition, it is utilized in a wide range of microelectronic components and smart devices, including tablets, smartphones, computers, and many more.

The worldwide market for lithium is mostly driven by the rise in the usage of lithium in air treatment technologies. Applications for lithium include air regeneration, dehumidification, and chilling. A common source of air cooling in shopping centers, hospitals, and other institutional buildings is absorption chillers. One application for lithium chloride is dehumidification. Lithium chloride is used in large areas that need to run without humidity in order to absorb moisture. Lithium is becoming more and more in demand for applications involving air regeneration. Safety devices, spacecraft, submarines, miners, and so forth are equipped with systems that extract carbon dioxide from human exhaust. Carbon dioxide is effectively removed through the non-reversible reaction of anhydrous lithium hydroxide with carbon dioxide.

Almost majority of the traction batteries used in EVs and consumer gadgets today are made from lithium. Lithium-ion (Li-ion) batteries find extensive usage in numerous additional applications, ranging from air transportation to energy storage. There are a lot of unknowns regarding how the battery business will impact future lithium demand because battery content changes depending on its active materials mix and because new battery technologies are entering the market. For instance, compared to the currently popular mixes including a graphite anode, a lithium metal anode, which increases energy density in batteries, has roughly double the lithium needs per kilowatt-hour.

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The Panamanian market for lithium oxide, hydroxide and carbonates surged to $133K in 2024, increasing by 15% against the previous year. Overall, the total consumption indicated a moderate increase from 2012 to 2024: its value increased at an average annual rate of +4.9% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -23.1% against 2022 indices.

The South Asian market for lithium oxide, hydroxide and carbonates surged to $49M in 2024, growing by 53% against the previous year. The total consumption indicated strong growth from 2012 to 2024: its value increased at an average annual rate of +6.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +31.6% against 2021 indices.

For the sixth consecutive year, the Chinese lithium carbonate market recorded growth in sales value, which increased by 0.2% to $3.5B in 2024. In general, consumption saw a significant increase. Lithium carbonate consumption peaked in 2024 and is expected to retain growth in years to come.

When comparing global mineral commodity prices in the first half of 2023 (H1 2023) versus H1 2019, the overall prices of many prominent mineral commodities increased significantly. Most significantly during that timeframe, the price of lithium carbonate increased by more than 300 percent. The prices for cobalt and palladium, however, only increased by seven percent over that timeframe.

The Puerto Rican lithium carbonate market stood at less than $X in 2021, approximately equating 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). In general, consumption recorded a relatively flat trend pattern.