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.

The US Lithium Carbonate market in Q4 2024 exhibited a volatile price trajectory, primarily driven by persistent oversupply and subdued demand. The quarter commenced with relatively stable prices amidst an oversupplied market, with excess supply outpacing current demand, leading to downward pressure on prices. While there were initial signs of production cuts by Chinese producers, their impact was limited.

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.

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.

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

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.

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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

The price of battery-grade lithium carbonate in China surged in 2021 as demand for electric vehicles (EV) rose significantly in the Asian country. The price of one metric ton of battery-grade lithium carbonate stood at more than 43,700 U.S. dollars as of December 31, 2021, representing an increase of nearly 500 percent compared to prices recorded in January of that year.

In 2023, overseas purchases of lithium carbonates decreased by -19.8% to 6.9K tons for the first time since 2019, thus ending a three-year rising trend.

By 2025, producing battery grade lithium hydroxide globally from brine harvesting will involve, in general, more costs than from spodumene. This is because in the first process it is necessary to produce lithium carbonate as an intermediate product, to later generate lithium hydroxide. It is expected that the difference in production costs between these two processes will amount to almost 1,000 U.S. dollars per ton of lithium carbonate equivalent.

Snapshot img

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

China Market Price: Monthly Avg: Inorganic Chemical Material: Lithium Carbonate (Battery Grade): 99.5% data was reported at 78,800.000 RMB/Ton in Jan 2025. This records a decrease from the previous number of 80,500.000 RMB/Ton for Dec 2024. China Market Price: Monthly Avg: Inorganic Chemical Material: Lithium Carbonate (Battery Grade): 99.5% data is updated monthly, averaging 116,900.000 RMB/Ton from Jun 2020 (Median) to Jan 2025, with 56 observations. The data reached an all-time high of 597,000.000 RMB/Ton in Nov 2022 and a record low of 44,070.000 RMB/Ton in Jun 2020. China Market Price: Monthly Avg: Inorganic Chemical Material: Lithium Carbonate (Battery Grade): 99.5% data remains active status in CEIC and is reported by China National Chemical Economic and Technical Development Centre. The data is categorized under China Premium Database’s Price – Table CN.PC: China Petroleum & Chemical Industry Association: Petrochemical Price: Inorganic Chemical Material.

In 2025, the global demand for lithium is expected to surpass 1.4 million metric tons of lithium carbonate equivalent, a growth of 53 percent in comparison to 2023. Increases in battery demand for electric vehicles will be a strong driver of lithium consumption in the next decade.

In Q2 2024, lithium hydroxide prices in the United States peaked at 14720 USD/MT in June. Several factors influenced these changes, including higher ocean freight demand, European restocking trends, and greater import activity within North America. These factors put pressure on the container market, reducing spot market liquidity and driving up shipping costs.

The size of the Lithium Carbonate Market market was valued at USD 5,281 Million in 2023 and is projected to reach USD 7,025 Million by 2032, with an expected CAGR of 3.9% during the forecast period. Lithium carbonate market is witnessing high growth rate owing to its crucial position in battery production and constant path towards transition into sustainable energy solutions. The rise in electric vehicle usage is a major driver of lithium carbonate demand, as these vehicles rely on high-performance lithium-ion batteries, which rely significantly on lithium carbonate for effective energy storage. Innovations in battery technology and the development of next-generation batteries are expanding lithium carbonate's applications and increasing its market potential. Furthermore, the increased use of renewable energy sources, such as solar and wind power, raises the need for effective energy storage solutions, driving up demand. However, the market's growth may be hampered by the environmental impact of lithium extraction and processing, severe government regulations, and variations in lithium carbonate pricing caused by supply-demand imbalances. Recent developments include: January 2024: Allkem and Livent completed an all-stock merger to form Arcadium Lithium. This merger is a strategic move to incorporate the existing resources and expand the production and supplier scale. Arcadium focuses on highly complementary assets and a vertically integrated business model focused on enhancing operational flexibility and predictability while lowering costs., October 2023: General Motors Holdings LLC (GM) executed a second tranche subscription agreement to which GM will purchase Lithium Americas (NewCo) shares of USD 329.85 million. Through this agreement, GM has 100% exclusive rights to Thacker Pass Phase 1 production for ten years, which produces lithium chemicals, including lithium carbonate., May 2023: SQM SA and Ford Motor Company announced a long-term strategic agreement to supply high-quality battery-grade lithium carbonate, which is an essential component for the manufacturing of high-performance electric vehicle batteries.. Key drivers for this market are: Growing Demand From Lithium-ion Batteries, Increasing Investments in the Glass and Ceramics Industry. Potential restraints include: Constraints in Lithium Extraction and Geographical Restriction of Lithium Mines. Notable trends are: Li-Ion Battery Applications Expected to Drive Growth.

In 2023, after three years of growth, there was significant decline in overseas purchases of lithium carbonates, when their volume decreased by -66% to 1.2K tons.

China is the world's leading importer country of lithium carbonate (Li2CO3). In 2023, the East Asian country imported 158 thousand metric tons of the compound, with a value of 6.33 billion U.S. dollars. Ranking second was Japan, which imported nearly 1.05 billion U.S. dollars of Li2CO3. That year, Chile was the top exporting country of lithium carbonate worldwide, with an export value that amounted to some 5.43 billion U.S. dollars.

Chile is the world's leading exporter country of lithium carbonate (Li2CO3). In 2023, the South American country exported nearly 5.43 billion U.S. dollars. Ranking second, but by a wide margin, was China, which exported some 518.29 million U.S. dollars of Li2CO3. That year, China was the top importing country of lithium carbonate worldwide, with an import value that amounted to 6.33 billion U.S. dollars.