Lithium rose to 94,400 CNY/T on December 2, 2025, up 0.05% from the previous day. Over the past month, Lithium's price has risen 16.54%, and is up 20.64% 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 December of 2025.

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Lithium Market Size 2023-2027

The lithium market size is valued to increase by 1066.47 thousand t, at a CAGR of 25% from 2022 to 2027. Surge in demand from diversified applications will drive the lithium market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 70% growth during the forecast period.
By Application - Batteries segment was valued at USD 148.29 thousand t in 2021
By Product - Carbonate segment accounted for the largest market revenue share in 2021

Market Size & Forecast

Market Opportunities: USD 513.91 thousand t
Market Future Opportunities: USD 1066.47 thousand t
CAGR from 2022 to 2027: 25%

Market Summary

Lithium, a lightweight metal with exceptional electrochemical properties, occupies a pivotal position in the global energy transition. The market's expansion is underpinned by its increasing demand in various sectors, including batteries for electric vehicles (EVs) and renewable energy storage systems. According to the latest market intelligence, the market was valued at approximately USD 16.7 billion in 2020, signaling a significant growth trajectory. Key drivers fueling this trend include advancements in battery technology, stringent environmental regulations, and the increasing adoption of EVs. Moreover, the expanding renewable energy sector, particularly wind and solar, is expected to contribute substantially to the market's growth.
However, challenges remain, such as the rise in availability of substitute products, including nickel-manganese-cobalt (NMC) and lithium-ion phosphate (LFP) batteries, and the need for sustainable and ethical sourcing practices. To meet the escalating demand, major players are investing in capacity expansions. For instance, Albemarle Corporation, a leading lithium producer, announced plans to double its production capacity by 2025. Similarly, Ganfeng Lithium, the world's largest lithium producer, aims to boost its output by 50% by 2023. These efforts will not only cater to the growing demand but also ensure a stable supply chain for the industry. In conclusion, the market's evolution is shaped by its diverse applications, growing demand, and investments in capacity expansions.
Despite challenges, the market is poised for continued growth, driven by the global shift towards sustainable energy sources and the increasing adoption of electric vehicles.

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

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How is the Lithium Market 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 experiencing continuous evolution, with the batteries segment leading the way due to surging demand from electric vehicles (EVs), consumer electronics, and grid-scale energy storage applications. Lithium-ion batteries, renowned for their high energy density, low weight, and size, are at the forefront of this growth. Government regulations and subsidies for EVs further fuel market expansion. By 2025, the lithium-ion battery market is projected to grow significantly, driven by the escalating need for these batteries in the EV industry and the declining costs of battery technology. Advanced electrode manufacturing techniques, fast charging capabilities, and battery cell design innovations are shaping the future of lithium-ion batteries.

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The Batteries segment was valued at USD 148.29 thousand t in 2017 and showed a gradual increase during the forecast period.

Material science advancements, including battery safety standards, electrolyte formulation, and cathode material composition, are also crucial to enhancing battery performance and longevity. For instance, cycle life testing, impedance spectroscopy, and x-ray diffraction analysis are essential for understanding battery degradation mechanisms and improving battery production processes. With a focus on energy storage systems integration, battery pack assembly, and battery management systems, the

In 2025, the price of ** percent lithium carbonate is projected to be around **** U.S. dollars per kilogram. Growing global lithium demandThere 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 ***** metric tons of lithium carbonate equivalent for non-rechargeable batteries. The 2018 annual average price of battery-grade lithium carbonate was ****** U.S. dollars per metric ton, increased from the ****** U.S. dollars in the previous year. Lithium demand by applicationLithium has many end use applications aside from batteries. For example, demand for lithium in ceramics is anticipated to reach ****** metric tons of lithium carbonate equivalent in 2025. Another example is that the demand for lithium in polymers is expected to grow to ****** metric tons of lithium carbonate equivalent by 2025, from the 2018 demand which was ***** metric tons.

By 2030, it is anticipated that the global demand for lithium will be more than quadruple, rising from ******* metric tons in 2022 to an estimated *** million metric tons. Batteries constituted the predominant end-use of lithium globally.

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

The lithium market size is projected to grow from USD 22.48 billion in 2024 to USD 155.7 billion by 2035, representing a CAGR of 19.23%, during the forecast period till 2035

The Lithium Market Report is Segmented by Compound (Carbonate, Chloride, and More), Application (Battery, Lubricants and Grease, Air Treatment, Pharmaceuticals, and More), End-User Industry (Industrial, Consumer Electronics, Energy Storage, Medical, Automotive, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons).

The Lithium Market size was valued at USD 22.19 USD Billion in 2023 and is projected to reach USD 89.78 USD Billion by 2032, exhibiting a CAGR of 22.1 % during the forecast period. Recent developments include: January 2023 – Ganfeng Lithium Co., Ltd. announced an investment of USD 2.14 billion in two new battery factories to increase its production capacities by 34 GWh. This facility will add to manufacturing and is expected to grow to around 100 GWh annually., December 2022 – Sigma Lithium announced that the company has secured a fund of USD 100 million from Synergy Capital to build the first phase of a USD 155 million expansion at its Grota do Cirilo lithium project in Minas Gerais, Brazil. This mine can generate up to 270,000 tonnes per year of high-purity battery-grade lithium concentrate, equal to about 36,700 tonnes of Lithium Carbonate Equivalent (LCE)., September 2022 – SQM S.A. announced a sustainable innovation program named the 'Salar Futuro Project,' which develops a new form of lithium production with zero freshwater usage. This project's initial investment of USD 1,500 million aims to achieve a zero water footprint by achieving carbon neutrality., June 2022 – Albemarle Corporation inaugurated a third chemical conversion plant La Negra III/IV, in Antofagasta. This facility is one of the modern conversion plants in Latin America. This facility will double the lithium production, reduce water consumption by 30% per metric ton, and commit to a sustainable production line., June 2021 - Ganfeng Lithium announced an increase in its Li2CO3 production by 600,000 tons an equivalent year as demand for the commodity used in electric-vehicle batteries increases. The company will sell around USD 630 million in new shares to boost capacity and fund potential investments.. Key drivers for this market are: Increasing Adoption of Electric Vehicles Will Aid Market Growth . Potential restraints include: Environmental Concerns and Recycling May Hinder Market Growth. Notable trends are: Companies Creating Environmentally Sustainable Solutions for LIBs and EVs will Fuel the Product Demand.

The lithium market is experiencing explosive growth, driven by the burgeoning electric vehicle (EV) industry and the increasing demand for energy storage solutions. With a Compound Annual Growth Rate (CAGR) of 19.57% from 2019 to 2033, the market's value is projected to significantly expand. This robust growth is fueled by several key factors. Firstly, the global transition towards cleaner energy sources is heavily reliant on lithium-ion batteries, making lithium a critical raw material. Secondly, advancements in battery technology are increasing energy density and reducing costs, further stimulating demand. Government incentives and policies supporting EV adoption and renewable energy infrastructure are also playing a crucial role. However, the market faces challenges such as supply chain constraints, geopolitical risks associated with lithium production concentration, and environmental concerns related to lithium mining. The market is segmented by various factors including battery chemistry (e.g., LCO, NMC, LFP), application (e.g., EVs, energy storage systems, portable electronics), and geographic region. Major players like Albemarle Corporation, SQM SA, and Ganfeng Lithium Co Ltd are fiercely competing to secure market share, engaging in strategic partnerships, mergers and acquisitions, and capacity expansions to meet the escalating demand. The market's future trajectory hinges on overcoming supply bottlenecks, achieving sustainable mining practices, and the continued technological advancements in battery technology. Despite challenges, the forecast for the lithium market remains remarkably positive. The increasing affordability and accessibility of electric vehicles, combined with the growing adoption of renewable energy technologies, point towards a continued surge in lithium demand throughout the forecast period (2025-2033). Regional variations in market growth will likely be influenced by factors such as government policies, infrastructure development, and the presence of established lithium mining and processing industries. It is crucial for market participants to proactively address the environmental and social responsibilities associated with lithium extraction to ensure the long-term sustainability of this vital industry. The strategic positioning of key players, coupled with continuous technological innovations in battery technology and recycling processes, will play a pivotal role in shaping the future of the lithium market. Future research will likely focus on improving extraction methods, developing alternative lithium sources, and optimizing battery performance for maximum efficiency and sustainability. Recent developments include: May 2022: Mineral Resources marked a significant milestone in its lithium growth strategy with the first new spodumene concentrate delivered at the Wodgina Lithium Project in the Pilbara region of Western Australia., April 2022: SQM SA planned to invest USD 900 million in 2022 as part of its plan to increase lithium carbonate and hydroxide production capacity. The company has plans to enhance lithium carbonate production capacity to 180,000 metric ton per annum in the future. Furthermore, the capacity is likely to reach 210,000 tons by early 2023., April 2022: Avalon Advanced Materials Inc. signed an agreement with RenJoules International Ltd, an Essar Company, to become a strategic partner and co-developer in support of Avalon's plans to establish a regional lithium battery materials supply chain. This agreement may fulfill the needs of upcoming electric vehicle and battery manufacturers in Ontario and other regions.. Key drivers for this market are: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Potential restraints include: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Notable trends are: The Battery Application Segment to Dominate the Market.

The Lithium Market size was valued at USD 28.08 billion in 2023 and is projected to reach USD 87.87 billion by 2032, exhibiting a CAGR of 17.7 % during the forecasts period. Recent developments include: In November 2023, ExxonMobil announced that work had commenced for its first lithium well drilling in Arkansas, an area with significant quantities of lithium deposits. It is targeting to produce its first lithium volumes in 2027. By 2030, it aims to produce lithium volumes that can cater to the manufacturing of batteries for over a million electric vehicles a year. , In September 2023, Gotion High-tech Co Ltd., a Chinese battery manufacturer, announced its plans to build a lithium battery manufacturing plant in Manteno, Illinois, U.S., for an investment value of USD 2 billion. , In September 2023, the Office of the Assistant Secretary for Industrial Base Policy signed an agreement with Albemarle for the latter’s lithium mining and production expansion plans. The agreement, worth USD 90 million, was signed through the Manufacturing Capability Expansion and Investment Prioritization (MCEIP) office. Albemarle plans to reopen its Kings Mountain, N.C. mine between 2025 and 2030, which will help increase the domestic production of lithium. .

The Lithium Market will grow from USD 8.99 Billion in 2025 to USD 12.14 Billion by 2031 at a 5.13% CAGR.

In 2020, the total demand for lithium worldwide amounted to 292 thousand metric tons of lithium carbonate equivalent. It is forecast that by 2030 this quantity will increase to approximately 2.5 million metric tons.

The size of the U.S. lithium Market was valued at USD 1.16 billion in 2023 and is projected to reach USD 2.66 billion by 2032, with an expected CAGR of 12.6 % during the forecast period. Recent developments include: In February 2024, Albemarle Corp. has partnered with BMW group to deliver battery-grade lithium to BMW. This partnership is not only limited to raw material supply but also to innovations in the market. , In September 2023, American Lithium Corp.announced a new lithium discovery from the initial drill hole completed at one of the key discovery targets previously identified from 2021 field work conducted near the Community of Quelcaya. This discovery is expected to impact the company’s abilities to refine and process lithium. .

In Q3 2025, North America, the Lithium Carbonate Price Index fell by 3.8% quarter-over-quarter, pressured by abundant imports. Check detailed insights for Europe, South America and APAC.

The lithium mining market is projected to grow from USD 4.2 billion in 2025 to USD 8.4 billion by 2035, at a CAGR of 7.2%.

The global lithium market is projected to reach a value of 15.17 billion by 2033, expanding at a CAGR of 8.10% during the forecast period 2025-2033.The increase in demand for lithium-ion batteries in electronics and electric vehicles is a significant driver of this growth. Furthermore, government incentives and initiatives to promote clean energy and reduce carbon emissions are also contributing to the market's expansion. The key segments of the market include product type (lithium hydroxide, lithium carbonate, lithium chloride, butyllithium, lithium metal) and application (energy storage, greases, frits, glasses and ceramics, air treatment, adhesives). Some of the major companies in the lithium market include Albemarle Corporation (US),SQM S.A. (Chile),Livent (US),Altura Mining (Australia),Orocobre Limited Pvt Ltd (Australia),Jiangxi Ganfeng Lithium Co. Ltd (China),Tianqi Lithium Industries Inc. (China),Critical Elements Corporation (Canada),Lithium Americas Corp. (Canada),and Sayona Mining Limited (Australia). Geographically, the market is divided into key regions such as North America, South America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is expected to dominate the market in terms of both production and consumption. Recent developments include: In February 2021, BMW announced that it had signed a long-term supply contract with Livent Corporation, a US-based producer of lithium. Under the agreement, Livent will supply BMW with sustainably produced lithium hydroxide for use in the production of BMW's electric vehicles., In March 2021, Chinese battery manufacturer Contemporary Amperex Technology Co., Limited (CATL) announced that it had signed a strategic cooperation agreement with Chinese lithium producer, Jiangxi Special Electric Motor Co., Ltd. Under the agreement, the two companies will work together to develop and produce electric vehicle powertrains, as well as lithium-ion batteries., In April 2021, Albemarle Corporation announced that it had formed a joint venture with Chinese lithium producer, Jiangxi Special Electric Motor Co., Ltd., to develop and produce lithium hydroxide in China. The joint venture, known as JLSB, will have a total capacity of 25,000 metric tons per year of lithium hydroxide.. Notable trends are: Increasing adoption of electric vehicles driving the market growth.

The Lithium Market size was valued at USD 22 Million in 2023 and is projected to reach USD 26 Million by 2032, exhibiting a CAGR of 19.57 % during the forecasts periods. Recent developments include: May 2022: Mineral Resources marked a significant milestone in its lithium growth strategy with the first new spodumene concentrate delivered at the Wodgina Lithium Project in the Pilbara region of Western Australia., April 2022: SQM SA planned to invest USD 900 million in 2022 as part of its plan to increase lithium carbonate and hydroxide production capacity. The company has plans to enhance lithium carbonate production capacity to 180,000 metric ton per annum in the future. Furthermore, the capacity is likely to reach 210,000 tons by early 2023., April 2022: Avalon Advanced Materials Inc. signed an agreement with RenJoules International Ltd, an Essar Company, to become a strategic partner and co-developer in support of Avalon's plans to establish a regional lithium battery materials supply chain. This agreement may fulfill the needs of upcoming electric vehicle and battery manufacturers in Ontario and other regions.. Key drivers for this market are: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Potential restraints include: Demand-supply Gap in the Lithium Market, Other Restraints. Notable trends are: The Battery Application Segment to Dominate the Market.

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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, driven primarily by the increasing demand for lithium-ion batteries in electric vehicle (EV) manufacturing and recycling initiatives. The global shift towards sustainable transportation solutions is fueling the demand for lithium carbonate, a key component in the production of lithium-ion batteries. However, the market faces a notable challenge: the shortage of EV charging stations. Despite the growing demand, the limited availability of charging infrastructure poses a significant obstacle to the widespread adoption of electric vehicles. This challenge is further compounded by the fact that the production and recycling of lithium-ion batteries require a substantial amount of energy, which in turn necessitates a reliable and efficient charging infrastructure. Companies seeking to capitalize on the opportunities presented by the market must address this challenge by investing in the development and expansion of EV charging networks. Additionally, exploring alternative methods of battery production and recycling, such as those with lower energy requirements, could help mitigate this challenge and ensure a steady supply of lithium carbonate.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve as the demand for advanced energy storage solutions surges across various sectors. Lithium carbonate, a key component in the production of lithium-ion batteries, plays a crucial role in powering electric vehicles (EVs), renewable energy systems, and consumer electronics. Battery analytics and diagnostics are increasingly important as industry standards for fast charging and battery efficiency continue to rise. Lithium hydroxide, another lithium compound, is gaining attention for its potential use in next-generation batteries, such as lithium-sulfur and solid-state batteries. Environmental concerns and the need for sustainable mining practices are shaping the lithium industry. Lithium reserves are being explored and developed to meet the growing demand, while lithium-ion battery recycling is gaining traction as a solution for reducing the carbon footprint and minimizing the risk of battery fires. Battery technology advancements, including improvements in battery performance, battery safety, and battery capacity, are driving innovation in the energy storage sector. Lithium-ion battery testing and monitoring are essential to ensure battery life and reliability. Government regulations and ethical sourcing are becoming increasingly important in the lithium industry. Renewable energy sources, such as wind and solar, are driving demand for energy storage systems, further fueling the need for lithium carbonate. The battery supply chain is undergoing significant changes as new players enter the market and existing players expand their operations. Battery management systems and battery charging technologies, including wireless charging, are also advancing to meet the evolving needs of the industry. Power tools and consumer electronics are just a few of the many applications for lithium-ion batteries. The ongoing unfolding of market activities and evolving patterns in the market reflect the continuous dynamism and innovation in the battery industry.

How is this Lithium Carbonate Industry segmented?

The lithium carbonate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ApplicationBatteriesCeramics and glassCement and aluminumOthersDistribution ChannelDirect saleIndirect saleGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKAPACChinaIndiaJapanSouth KoreaSouth AmericaBrazilRest of World (ROW).

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 those used in electric vehicles (EVs), energy grid storage, and consumer electronics. The purity level of lithium carbonate determines its grade; EV-grade lithium carbonate contains 99.9% lithium, while standard battery-grade lithium carbonate has a purity of 99.5%. Lithium carbonate's excellent electrochemical inertness makes it ideal for manufacturing the protective layer of cathodes, ensuring battery efficiency and longevity. The lithium industry focuses on sustainable mining practices to meet the increasing demand for lithium carbonate. Lithium hydroxide, another d

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The Lithium Carbonate Market Report is Segmented by Grade (Technical Grade, Battery Grade, Industrial Grade), Source (Brine, Spodumene, Lepidolite/Clay, and More), Application (Li-Ion Battery, Glass and Ceramics, Pharmaceuticals and Dental, and More), End-Use Industry (Automotive, Consumer Electronics, Energy Storage Systems, and More), and Geography (Asia-Pacific, North America, Europe, South America, Middle East and Africa).