Lithium rose to 70,450 CNY/T on July 23, 2025, up 1.95% from the previous day. Over the past month, Lithium's price has risen 17.61%, but it is still 17.60% lower than a year ago, 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 July of 2025.

Lithium's market value is forecast to increase to nearly 6.68 billion U.S. dollars by 2030, due to its increasingly significant importance for various applications such as lithium-ion batteries. In 2023, the global market value of lithium amounted to 4.2 billion U.S. dollars.

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

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.

In 2022, the average price of battery-grade lithium carbonate stood at ****** U.S. dollars per metric ton. This figure is by far the highest price for battery-grade lithium carbonate recorded in the period of consideration. For 2024, lithium carbonate price was estimated at ****** U.S. dollars per metric ton. Lithium is a highly reactive soft and silvery-white alkali metal. As the third element in the periodic table, it cannot be found in its pure form in nature. Lithium is the least dense of solid elements and the lightest out of all metals. Lithium and batteries One of lithium’s most well-known end uses is in lithium-ion batteries. Lithium-ion batteries are rechargeable and mostly used in portable electronics and electronic vehicles. In lithium-ion batteries, the lithium ions move from the negative electrode to positive electrode while in use, and the process is reversed while charging. These batteries are highly flammable but are also low-maintenance. They have a high energy density and a low self-discharge. Some drawbacks include the fact that they are expensive to manufacture, and that they require protection circuits to maintain the voltage safely. Lithium-ion batteries are also the single-largest end use of lithium, amounting to an ** percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at *** million tons by 2025. This growth will be mainly driven by lithium-ion battery demand for electric vehicles. Demand is expected to remain the highest in China, which will consistently account for half of global lithium-ion battery demand.

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

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Lithium Market Size 2023-2027

The lithium market size is forecast to increase by 1066.47 thousand t, at a CAGR of 25% between 2022 and 2027.

The India Solar Power Market is segmented by 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), and 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). This segmentation reflects the market's diversity, driven by rising demand for Batteries and Energy Storage in India and China, increasing use of Carbonate and Hydroxide in Electronics and Automotive, and a mix of Brine and Hardrock sources to meet industrial and regional needs across the APAC region.



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

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

Explore in-depth regional segment analysis with market size data - historical 2017-2021 and forecasts 2023-2027 - in the full report.
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The market continues to evolve, driven by the expanding applications of lithium-ion batteries (LIBs) across various sectors. From electric vehicles (EVs) and electric buses to consumer electronics, electric bicycles, and portable power, the demand for LIBs is on the rise. This continuous growth is influenced by several factors, including advancements in battery technology such as solid-state batteries and battery recycling. The lithium supply chain is undergoing significant changes, with a focus on resource scarcity and environmental impact. Innovations in cathode materials, anode materials, and cell manufacturing are aimed at improving energy density, power output, and battery life.

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

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

How is this Lithium Industry segmented?

The lithium industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD thousand t' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

Application

  Batteries
  Ceramics and glass
  Grease
  Polymer
  Others


Product

  Carbonate
  Hydroxide
  Metal
  Chloride
  Others


Source

  Brine
  Hardrock


End-user Industry

  Automotive
  Electronics
  Energy Storage
  Aerospace
  Industrial
  Healthcare
  Others


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

.

By Application Insights

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

The market is pr

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

The pandemic hit the main consuming industry (battery manufacturing) hard, lithium supplies on the global market exceeded demand, resulting in a fall in lithium prices.

In the second half of 2020, lithium demand started to recover, buoyed by strong battery sales. Strategic partnerships shaped during the Covid crisis enabled lithium manufacturers to secure stable product supply chains.

The Lithium Battery Grade Lithium Carbonate Market size was valued at USD 5.98 USD Billion in 2023 and is projected to reach USD 13.90 USD Billion by 2032, exhibiting a CAGR of 12.8 % during the forecast period. Lithium Battery Grade Lithium Carbonate is a highly pure lithium material that is required for lithium-ion batteries. This is subdivided into industrial and high-purity grades; the latter is more desirable for battery use due to higher purity and therefore lower inter solutes. It is characterized by good electrochemical activity, chemical stability, and maximum energy density, making it suitable for the creation of rechargeable batteries. Some of the areas where it is mainly used are in electric vehicles, portable electronics, and energy storage systems. The quality of lithium carbonate and the lithium material on which it is based directly affects the performance, including effectiveness and longevity, of batteries and thus the lithium-ion batteries in such applications. Key drivers for this market are: Increasing on-road vehicle fleet to Fuel Demand for tinting films. Potential restraints include: Fluctuations in Prices of Crude Oil May Hamper Growth.

The Lithium Market report segments the industry into Type (Metal, Compound, Alloy), Application (Battery, Grease, Air Treatment, Pharmaceuticals, Glass/Ceramic (Including Frits), Polymer, Other Applications), End-User Industry (Industrial, Consumer Electronics, Energy Storage, Medical, Automotive, Other End-User Industries), and Geography (Production and Reserve Analysis, Consumption Analysis).

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 global lithium market is expected to grow at a CAGR of 22.1% from 2023 to 2033, reaching a market size of USD 159.45 billion by 2033. Lithium is an alkali metal with the atomic number 3, and is chemically denoted by the symbol Li, it is a soft, silvery-white metal that is readily soluble in most organic solvents and has a very low density. It is chiefly applied in the production of rechargeable lithium-ion batteries, indispensable for a range of devices starting from mobile phones to electric cars. There are several lithium salts, lithium carbonate is one example lithium hydroxide is another and all serve various functions in industry. Lithium is the element itself, and it also forms compounds with other elements, which in a way allows for its usefulness. Some of the features include Li offers high energy density, long cycle life and efficiency in energy storage. Recently the market has witnessed increased demand for lithium, this mainly because of the increasing uptake of electric cars and thus evolutions towards green energy production and storage that require lithium as a key element. 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.

In July 2022, the lithium carbonate price per ton amounted to $10,401, declining by -6.2% against the previous month.

Lithium-ion battery pack price dropped to *** U.S. dollars per kilowatt-hour in 2024, down from over *** dollars per kilowatt-hour a year earlier. Lithium-ion batteries are one of the most efficient energy storage devices worldwide. Over recent years, high-scale production and capital investment into the battery production process made lithium-ion battery packs cheaper and more efficient. This demonstrates a staggering demand for energy storage worldwide and could be attributed to the fact that the world is moving towards a renewable energy-based economy where electric vehicles play an increasingly large role. Electric vehicle sales Individuals, organizations, and governments aim to reduce their environmental footprint, as the awareness about the consequences of climate change becomes more widespread. To contribute to a greener society, they promote the growth of the electric vehicle market to make transportation more sustainable and less polluting. When it comes to the sales volume of electric vehicles, the trend is staggeringly positive. For instance, global plug-in electric light vehicle (PEV) sales have progressively increased since 2015, surpassing **** million units sold in 2023. Environmental impact Incorrect disposal of Li-ion batteries can have a devastating environmental impact on the environment, sparking the need for recycling. The global market for lithium-ion battery recycling is expected to reach **** billion U.S. dollars by 2030. This figure compares to around *** billion U.S. dollars in 2023.

Explore the dynamic fluctuations in the lithium market influenced by rising demand for electric vehicles, supply chain constraints, and technological advancements, as stakeholders navigate a landscape marked by volatility and evolving energy solutions.

The total cost of producing battery grade lithium carbonate by 2025 is expected to amount to approximately ***** and ***** 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.

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.

Performance Lithium Market Outlook

The global performance lithium market size is projected to witness a significant growth, with an expected Compound Annual Growth Rate (CAGR) of 10.5% from 2024 to 2032. The market is estimated to reach a valuation of approximately USD 20 billion by 2032, up from USD 8.5 billion in 2023. This robust growth is driven by the increasing demand for lithium in various high-performance applications, especially in the renewable energy and electric vehicle (EV) sectors. As the world transitions towards cleaner energy solutions, lithium, known for its lightweight and high energy density properties, stands firm as a critical component in the new-age energy paradigm.

One of the primary growth factors for the performance lithium market is the skyrocketing demand for electric vehicles (EVs). Governments worldwide are pushing for increased adoption of EVs to reduce carbon emissions, which has resulted in a surge in demand for lithium-ion batteries, the most efficient and popular battery types used in EVs. Advancements in battery technology and the need for longer-lasting, more efficient energy storage solutions have further propelled the demand for performance lithium products. This trend is particularly strong in developed regions like North America and Europe, where governments offer incentives and subsidies for EV adoption, as well as in Asia Pacific, home to leading battery manufacturers.

Another significant factor contributing to the growth of the performance lithium market is the expanding use of lithium in renewable energy storage solutions. As the global energy sector experiences a pivotal shift towards renewable sources such as solar and wind, the need for effective energy storage systems has escalated. Lithium-ion batteries are increasingly being used in large-scale energy storage projects due to their high efficiency, longer lifecycle, and declining costs. This has not only bolstered the demand for lithium but also garnered substantial investments from both the public and private sectors, thereby fueling market expansion.

In addition to energy storage and EVs, lithium's usage in other applications such as electronics, glass & ceramics, and lubricants is also on the rise. The electronics industry, particularly, has seen a surge in demand for lithium due to its application in the manufacturing of lightweight, high-energy batteries for portable devices. Similarly, the glass and ceramics industry uses lithium to enhance product strength and thermal resistance. The growing industrial demand across these sectors is contributing significantly to the overall growth of the performance lithium market.

The regional outlook for the performance lithium market reflects substantial growth prospects across different geographies. Asia Pacific, driven by countries like China, Japan, and South Korea, is expected to lead the market with the highest growth rate, attributed to the presence of major battery manufacturers and increasing investments in EV infrastructure. North America and Europe are also poised for considerable growth due to favorable government policies supporting green technologies. Latin America, with rich lithium resources, is emerging as a crucial supplier in the global market, while the Middle East & Africa are gradually tapping into this growing industry through strategic partnerships and investments.

Product Type Analysis

Lithium carbonate, one of the primary product types in the performance lithium market, is extensively used for manufacturing lithium-ion batteries. The growing demand for lithium-ion and lithium polymer batteries in consumer electronics, electric vehicles, and renewable energy storage systems has led to an increase in the production and consumption of lithium carbonate. The compound’s versatility and effectiveness in stabilizing metal oxides in lithium-ion batteries make it an indispensable material in battery manufacturing, thereby witnessing a steady growth in market demand.

Lithium hydroxide is another significant product type within the performance lithium market, known for its high energy density and thermal stability. Its application is increasingly favored in high-performance electric vehicle batteries, as it enhances battery lifecycle and performance. Manufacturers are focusing on optimizing the use of lithium hydroxide in their battery chemistries to offer improved efficiency and energy output. This trend is expected to drive the demand for lithium hydroxide, supported by ongoing research and development activities in battery technology.

Lithium metal

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