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.

Explore the factors influencing the global lithium commodity price, a vital component in clean energy and technology sectors, amidst market volatility, geopolitical influences, and technological advancements in battery production.

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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

This data release contains the U.S. salient statistics and world production data extracted from the LITHIUM data sheet of the USGS Mineral Commodity Summaries 2024.

United States Exports: Lithium Ion Batteries data was reported at 515.926 USD mn in Jan 2025. This records an increase from the previous number of 432.743 USD mn for Dec 2024. United States Exports: Lithium Ion Batteries data is updated monthly, averaging 107.968 USD mn from Jan 2012 (Median) to Jan 2025, with 157 observations. The data reached an all-time high of 573.680 USD mn in Sep 2024 and a record low of 1.982 USD mn in Jan 2012. United States Exports: Lithium Ion Batteries data remains active status in CEIC and is reported by U.S. Census Bureau. The data is categorized under Global Database’s United States – Table US.JA027: Exports: by Commodity: 6 Digit HS Code: HS 85 to 98.

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.

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

This data release contains the U.S. salient statistics and world production data extracted from the LITHIUM data sheet of the USGS Mineral Commodity Summaries 2025.

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.

China Import: RMB: YoY: Year to Date: ME: EE: Electric Accumulator: Lithium-ion Battery data was reported at 8.900 % in Nov 2024. This records an increase from the previous number of 7.900 % for Oct 2024. China Import: RMB: YoY: Year to Date: ME: EE: Electric Accumulator: Lithium-ion Battery data is updated monthly, averaging -3.500 % from Jan 2020 (Median) to Nov 2024, with 59 observations. The data reached an all-time high of 61.000 % in Jan 2024 and a record low of -61.500 % in Jan 2023. China Import: RMB: YoY: Year to Date: ME: EE: Electric Accumulator: Lithium-ion Battery data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JA: RMB: Import by Major Commodity: Value: ytd.

This graph illustrates the estimated cost per electric vehicle battery pack as of 2018, with a breakdown by main commodity. The cost of lithium carbonate per electric vehicle battery pack amounted to just over 1,000 U.S. dollars.

Rio Tinto is investing $2.5 billion in a new lithium mine in Argentina, supporting economic deregulation efforts and expanding its commodity portfolio amidst a global lithium price slowdown.

United States Imports: Lithium Oxide & Hydroxide data was reported at 0.579 USD mn in Jan 2025. This records a decrease from the previous number of 1.245 USD mn for Dec 2024. United States Imports: Lithium Oxide & Hydroxide data is updated monthly, averaging 0.581 USD mn from Jan 2002 (Median) to Jan 2025, with 274 observations. The data reached an all-time high of 8.660 USD mn in Mar 2023 and a record low of 0.003 USD mn in Jun 2004. United States Imports: Lithium Oxide & Hydroxide data remains active status in CEIC and is reported by U.S. Census Bureau. The data is categorized under Global Database’s United States – Table US.JA131: Imports: by Commodity: 6 Digit HS Code: HS 16 to 29.

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 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, the amount of lithium carbonates imported into Australia amounted to 820 tons, growing by 14% on the year before.

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.

The global lithium-ion (Li-ion) battery market is expected to surpass 150 billion U.S. dollars by 2032, compared to a market size of approximately 50 billion U.S. dollars in 2023.

Popularity of lithium-ion batteries

In 2022, Li-ion batteries made up the vast majority of the electrochemical energy storage projects worldwide. Their popularity is due to their lightness and the fact that Li-ion batteries can hold a charge better than other battery types, have no memory effect (no need to completely discharge batteries before recharging) and are able to handle hundreds of charge and discharge cycles.

Market forecast

The popularity of Li-ion batteries will most likely persist in the coming years. Their price is not forecast to increase and, according to recent projections, the global Li-ion demand will experience an almost seven-fold increase between 2022 and 2030.

According to Cognitive Market Research, the global Primary Lithium Battery Market size will be USD 2851.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1140.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 855.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 655.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 142.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 57.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The consumer electronics is the fastest growing segment of the Primary Lithium Battery industry

Market Dynamics of Primary Lithium Battery Market

Key Drivers for Primary Lithium Battery Market

Primary Lithium Battery Market Experiences Growth Driven by Increasing Demand for Portable Electronic Devices

The Primary Lithium Battery Market is the increasing demand for portable electronic devices. As consumer preferences shift towards lightweight and compact gadgets, the need for efficient power sources becomes crucial. Primary lithium batteries offer higher energy density and longer shelf life compared to traditional batteries, making them ideal for devices such as smartphones, tablets, and wearables. Furthermore, the rise of the Internet of Things (IoT) is contributing to this demand, as more connected devices require reliable and long-lasting power solutions. Consequently, manufacturers are focusing on enhancing battery performance and safety to cater to this expanding market?.

Rising Demand for Portable Electronics Drives Growth in the Primary Lithium Battery Market

The increasing consumer preference for portable electronics, including smartphones, tablets, and laptops, significantly drives the growth of the Primary Lithium Battery Market. As these devices become essential in daily life, the demand for lightweight and high-energy-density batteries has surged. Lithium batteries are favored for their long shelf life and ability to deliver reliable performance, making them ideal for powering these gadgets. Additionally, advancements in battery technology and the proliferation of smart devices further fuel this demand, positioning primary lithium batteries as a critical component in the electronics industry.

Restraint Factor for the Primary Lithium Battery Market

High Manufacturing Costs Hindering Primary Lithium Battery Market Growth

Despite their advantages, primary lithium batteries face challenges related to high manufacturing costs. The extraction and processing of lithium and other materials used in these batteries can be expensive, affecting the overall pricing of lithium-based battery products. Additionally, the complexity involved in the production process contributes to elevated costs, limiting market accessibility for some consumers and businesses. As a result, manufacturers are continuously exploring ways to optimize production efficiency and reduce costs, but until these issues are resolved, high manufacturing expenses may hinder widespread adoption.

Impact of Covid-19 on the Primary Lithium Battery Market

The COVID-19 pandemic significantly impacted the Primary Lithium Battery Market by disrupting supply chains and halting production activities. Lockdowns and restrictions led to factory closures and labor shortages, causing delays in the manufacturing and delivery of lithium batteries. Additionally, reduced consumer spending during the early months of the pandemic negatively affected demand for portable electronics and electric vehicles, further impacting market growth. However, as economies began to recover and the demand for sustainable energy solutions increased, the market started to rebound, driven by the growing adoption of electric vehicles and renewable energy storage solutions. Introduction of the Primary Li...