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.

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.

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 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

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 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.

According to Cognitive Market Research, the global technical grade lithium hydroxide market size is USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 4.10% from 2023 to 2030. Growing Demand for Electric Vehicles to Drive the Market Expansion.

The importance of renewable energy and energy storage grew, particularly in light of worldwide initiatives to minimise greenhouse gas emissions and promote green energy is anticipated to drive the market growth. Spending on technical grade lithium hydroxide for stationary energy storage and electric vehicles has surged. The primary drivers of the market are the increasing demand for technical grade lithium hydroxide used in electric vehicles and the growing popularity of lithium hydroxide NCA cathode-powered power tools.

For instance, in August 2022, Ganfeng Lithium stated that it has partnered with GAC AlON in a long-term strategic cooperation to enhance the development of battery raw materials and the recycling of outdated new electric vehicle ("NEV") batteries.

Source-www.marklines.com/en/top500/catl

Novel and Enhanced Tchnology in Lithium Ion Battery to Propel Market Growth

New and improved lithium-ion battery technology is being developed as battery applications require more power and lower costs. Battery technology developments are critical to meeting consumer demand for portable devices and electric vehicles with greater battery life and faster charging periods. As a result, new materials, manufacturing methods, and battery management systems have been developed to improve the efficiency and performance of technical grade lithium hydroxide.

For instance, in May 2022, According to the International Energy Agency (IEA), electric vehicle sales are expected to reach a record high of 4.7 million units in 2021, a 43% increase over the previous year.

Market Restraints of the Technical Grade Lithium Hydroxide Market

The High Expense of Procedure Stemming from the Need for Multiple Stages and the Use of Lime, Which Generates Waste, are Hamper the Market Growth. 

Numerous common reasons of maintenance outages in processing plants that lead to reduced output, increased costs, and downtime, regardless of whether LiOH is derived from carbonate or straight from a spodumene slurry. Erosion frequently serves as a source of contaminants as well. The hardness of crystallised hydroxide is well known to those who have attempted to chip it out of equipment (more on this later). The erosion that occurs when this material is moving quickly through a pipe in the form of a turbulent hot slurry is also noteworthy.

Impact of the COVID-19 on Technical Grade Lithium Hydroxide market

The COVID-19 pandemic affected the technical grade lithium hydroxide market significantly. Lockdowns and mask mandates reduced the demand for lithium hydroxide COVID-19 influenced short-term lithium hydroxide sales. Covid-19 is causing a backlog in the lithium hydroxide supply chain. Overseas markets, primarily Japan and South Korea, bought more over 80% of China's hydroxide output. Overseas consumers are having difficulty obtaining lithium hydroxide due to customs clearance complications caused by the epidemic. Domestic users are also suffering issues as a result of transportation disruptions. They may find it increasingly difficult to obtain the material as converters work to keep their foreign customers well supplied. These effects are exacerbated by the chemical's limited shelf life. Because lithium hydroxide is highly hygroscopic and oxidative, users rarely keep considerable quantities of it on hand. What is Technical Grade Lithium Hydroxide?

Lithium hydroxide is a chemical used in the production of technical grade lithium hydroxide , ceramics, and lubricants. Lithium-ion batteries are commonly employed in electric vehicles, portable electronics, and grid energy storage systems. The market is primarily driven by rising demand for technical grade lithium hydroxide in the automotive sector. Lithium-ion batteries are commonly employed in electric vehicles due to their high energy density, extended life, and low self-discharge rates. The automotive industry is experiencing an increase in demand for technical grade lithium hydroxide . Lithium-ion batteries are commonly employed in electric vehicles due to their high energy density, extended life, and low self-discharge rates...

Lithium Americas market cap as of June 16, 2025 is $0.59B. Lithium Americas market cap history and chart from 2023 to 2025. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

Lithium Market Outlook

The global lithium market size was valued at approximately USD 8.3 billion in 2023 and is expected to reach around USD 26.9 billion by 2032, exhibiting a robust compound annual growth rate (CAGR) of 14.2% during the forecast period. This impressive growth trajectory is primarily driven by the burgeoning demand for lithium-ion batteries, pivotal in propelling the electric vehicle (EV) revolution and portable consumer electronics. The increasing commitment of governments worldwide to transition to renewable energy and reduce carbon emissions is another significant driver, further catalyzing the adoption of lithium-ion technologies across various sectors.

A critical growth factor for the lithium market is the rapid expansion of the electric vehicle (EV) sector. With automotive giants and startups alike accelerating their production of electric models, the demand for lithium, a key component in EV batteries, has surged. Policies aimed at reducing dependency on fossil fuels and incentivizing cleaner transportation options are amplifying this trend. For instance, several countries, including China, the United States, and members of the European Union, have set ambitious targets for EV adoption, fueling substantial investments in lithium extraction and battery production facilities. Additionally, advancements in battery technology that increase energy density and reduce costs are making EVs more accessible to the mass market, thereby increasing lithium demand.

The proliferation of renewable energy initiatives and the associated need for efficient energy storage solutions present another growth vector for the lithium market. Renewable energy sources like solar and wind are inherently intermittent, necessitating reliable storage solutions to ensure a stable power supply. Lithium-ion batteries have emerged as the preferred choice due to their high energy density, efficiency, and declining costs. As countries globally push towards achieving sustainable energy goals, the deployment of large-scale lithium-ion battery storage systems is anticipated to expand, further bolstering the market. Additionally, advancements in grid infrastructure that integrate renewable energy sources are expected to contribute significantly to the growing demand for lithium-based solutions.

Technological innovation and increased investment in research and development are further enhancing the growth prospects of the lithium market. Research into alternative lithium extraction methods, such as direct lithium extraction (DLE) from brines, is gaining traction, promising more environmentally friendly and cost-effective solutions than traditional mining methods. Moreover, ongoing improvements in battery recycling technologies aim to recover lithium from spent batteries efficiently, reducing dependency on new lithium extraction and supporting circular economy initiatives. These technological advancements are critical for meeting future lithium demand sustainably and mitigating environmental impacts associated with lithium production.

Regionally, Asia Pacific is expected to dominate the lithium market due to its robust manufacturing base and rapidly growing EV industry. The presence of major battery manufacturers and a conducive regulatory environment further bolster this region's growth. In contrast, North America and Europe are experiencing heightened demand driven by policy incentives and technological innovation. Latin America, home to the 'Lithium Triangle'—a region abundant in lithium reserves—is emerging as a key player in the supply chain, while the Middle East & Africa are gradually increasing their market presence with investments in mining and battery manufacturing.

Type Analysis

The lithium market is segmented into various types, including lithium carbonate, lithium hydroxide, lithium chloride, and others, each playing a distinct role in diverse applications. Lithium carbonate is currently the most widely used type, primarily due to its application in the production of lithium-ion batteries. As the demand for electric vehicles and portable electronic devices continues to grow, the consumption of lithium carbonate is expected to see a significant rise. This compound is also used in the manufacturing of glass and ceramics, where it enhances the physical properties of the materials. Thus, the multifaceted applications of lithium carbonate make it a cornerstone of the lithium market.

Lithium hydroxide is gaining prominence due to its superior performance in high-nickel content lithium-ion batteries, which offer higher energy densities. This type is incre

Atlantic Lithium market cap as of June 22, 2025 is $0.02B. Atlantic Lithium market cap history and chart from 2021 to 2023. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding.

In 2023, approx. 1.7K tons of lithium carbonates were imported into India; falling by -36.5% compared with the previous year.

Lithium Market was valued at USD 8.14 Billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 5.01% through 2029.

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.

In 2023, the amount of lithium carbonates imported into Australia amounted to 820 tons, growing by 14% on the year before.

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

During the first quarter of 2025, the U.S. lithium hydroxide market continued to navigate a complex landscape shaped by persistent global oversupply, fluctuating EV demand, and shifting trade dynamics. Prices showed a consistent downward trend throughout the quarter, largely influenced by cheaper imports, high inventory levels, and subdued domestic demand. In January, market conditions were strained by oversupply and softened downstream demand due to seasonal restocking and holiday-related slowdowns.

According to Cognitive Market Research, the global Lithium Mining market size was USD 1625.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 7.80% from 2023 to 2030.

The demand for Lithium Miningis rising due totherising technological advancements & extensive use in air treatment.
Demand for Brine remains higher in the Lithium Mining market.
The Lithium Carbonate cate
Author say's

The global Lithium Mining market will expand significantly by 7.80% CAGR between 2023 and 2030.

North America held the major market of more than 26% of the global revenue with a market size of USD 422.55 Million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030.

Europe market held of more than 25% of the global revenue with a market size of USD 406.30 Million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2030.

Rising Demand in Electric Vehicles (EVs) to Provide Viable Market Output
Growing Renewable Energy Storage to Propel Market Growth
Challenges in Supply Chain Dynamics to Restrict Market Growth
gory held the highest Lithium Mining market revenue share in 2023.
North American Lithium Miningwill continue to lead, whereas the Asia Pacific Lithium Mining market will experience the most substantial growth until 2030.

Rising Demand in Electric Vehicles (EVs) to Provide Viable Market Output

The growing demand for electric vehicles (EVs) is a major driver of the lithium mining industry. As the automotive sector transitions to more environmentally friendly modes of transportation, lithium-ion batteries—which are dependent on lithium—become essential to electric vehicles. The lithium mining market is fueled by the soaring need for lithium as a primary component in these batteries. With governments globally promoting EV adoption and automotive manufacturers investing heavily in electric mobility, the lithium mining sector anticipates sustained growth, driven by the expanding market for lithium-ion batteries in the electric vehicle ecosystem.

In September 2021, Guangxi Tianyuan New Energy Materials, a Chinese lithium converter, has signed a deal for Albemarle Corporation's subsidiary, Albemarle Lithium UK Limited, to purchase all of the company's outstanding equity.

Source-www.albemarle.com/newsalbemarle-completes-acquisition-of-guangxi-tianyuan-new-energy-materials-co-ltd

Growing Renewable Energy Storage to Propel Market Growth

A key driver in the Lithium Mining market is the growing demand for renewable energy storage solutions. Lithium-ion batteries are crucial for storing energy generated from renewable sources such as solar and wind. As the world increasingly embraces renewable energy to combat climate change, the need for efficient energy storage solutions intensifies. Lithium mining plays a pivotal role in meeting this demand, supporting the expansion of renewable energy infrastructure.

January 2022, Under a court-approved plan of arrangement under the Business Corporations Act (British Columbia), Lithium Americas Corp. completed the acquisition of Millennial Lithium Corp. for approximately US$ 491 million.

Source-www.albemarle.com/newsalbemarle-completes-acquisition-of-guangxi-tianyuan-new-energy-materials-co-ltd

Market Dynamics for the Lithium Mining market

Challenges in Supply Chain Dynamics to Restrict Market Growth

Supply chain dynamics pose a significant restraint in the Lithium Mining market. The intricate and globalized nature of the lithium supply chain involves multiple stages, including extraction, processing, and transportation. Challenges arise from geopolitical factors affecting lithium-rich regions, trade complexities, and infrastructure limitations. As demand surges, ensuring a stable and resilient supply chain becomes crucial. Delays in any phase of the supply chain, whether due to regulatory hurdles, transportation constraints, or geopolitical tensions, impact the timely availability of lithium. This poses challenges for industries heavily reliant on lithium, such as electric vehicles and renewable energy storage, hindering their sustainable development.

Impact of COVID–19 on the Lithium Mining market

The Lithium Mining market experienced notable impacts from the COVID-19 pandemic. The pandemic disrupted global supply chains, causing delays and interruptions in lit...

Snapshot img { margin: 10px !important; } The lithium hydroxide market is concentrated, and the degree of concentration is expected to decrease by 2023. An outlook of accelerating growth would provide opportunities to all market participants to grow. Market participants would do well to focus more on the opportunities on the demand side rather than getting overly impacted with the competitive dynamics. The accelerating growth momentum will be one of the contributing factors moderating the competitive intensity in the market during the forecast period.

Some of the key findings from our lithium hydroxide market forecast report are summarized below

Battery was the largest segment within the overall market in 2018 and will remain so in 2023. The battery segment would outperform the overall market as it will grow faster during the period 2019-2023. The lubricating greases and ceramics and glass would underperform the overall market as they are growing slower than the overall market.

To identify growth opportunities in the lithium hydroxide market, the global market has been segmented into regions growing faster than the overall market versus regions growing slower than the overall market in 2018-2023. APAC and North America are the regions which will grow faster than the overall market. Europe, MEA, and South America are the regions which will grow slower than the overall market.

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This report provides a detailed analysis of the market by application (battery, lubricating greases, ceramics and glass, and others) and geography (APAC, Europe, MEA, North America, and South America). The report analyzes the market’s competitive landscape and offers information on several lithium hydroxide manufacturers including Albemarle Corporation, International Lithium Corp., Livent, Orocobre Limited Pty Ltd, SQM S.A., and Tianqi Lithium Corporation.

Global lithium hydroxide industry overview

The lithium hydroxide dispersion technology is revolutionizing the grease manufacturing process by reducing the manufacturing time, energy consumption and water consumption. This technology is being preferred over conventional methods for manufacturing grease because of the low melting points, high mechanical strength, and excellent thermal resistance of lithium hydroxide. Moreover, as lithium hydroxide is waterproof, it can maintain viscosity for a long time. These factors are encouraging grease manufacturers to adopt lithium hydroxide dispersion technology to produce lithium and lithium complex greases based on a variety of base oils such as vegetable oils, esters, mineral oil, and polyalphaolefins (PAO). The increasing usage of lithium hydroxide in the grease manufacturing process is identified as a key trend that will boost market growth in the next five years.

The use of lithium-ion batteries in portable devices as secondary rechargeable batteries is increasing. This can be attributed to the lightweight nature and high energy-to-weight ratios, self-discharge, and slow charge loss properties of lithium-ion batteries. Hence, rechargeable lithium batteries are widely used in smartphones, laptops, power tools, medical devices, notebooks, digital cameras, and power banks. Lithium-ion batteries are preferred over nickel cadmium (NiCd) and nickel metal hydride (NiMH) batteries for use in medical devices because of its higher energy density. Moreover, lithium-ion batteries also facilitate the miniaturization of mobile electronics and medical devices without compromising on their power and performance. This will further boost the use of lithium-ion batteries in portable devices and drive lithium hydroxide market growth at a CAGR of over 13% during the period 2019-2023.

Top lithium hydroxide companies covered in this market research report

The global lithium hydroxide market is concentrated. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this lithium hydroxide market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

The report offers a detailed analysis of several leading companies, including:

Albemarle Corporation
International Lithium Corp. 
Livent
Orocobre Limited Pty Ltd 
SQM S.A.
Tianqi Lithium Corporation

Lithium hydroxide market segmentation based on application

Battery
Lubricating greases
Ceramics and glass
Others

The battery segment will account for the highest lithium hydroxide market share because of its growing demand in the production of lithium-ion batteries. This report provides an

Cobalt traded flat at 33,335 USD/T on July 17, 2025. Over the past month, Cobalt's price has remained flat, but it is still 25.20% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt - values, historical data, forecasts and news - updated on July of 2025.

The North America Technical Grade Lithium Hydroxide Market will expand at a compound annual growth rate (CAGR) of 2.3% from 2023 to 2030.

In the 2024 financial year, Australia’s lithium exports were valued at approximately 9.9 billion Australian dollars. Forecasts show that by the 2026 financial year, this figure will decrease to around 8.2 billion Australian dollars. How is lithium used? Lithium is predominantly used as a component of rechargeable batteries for electronic devices such as mobiles, laptops, and cameras, as well as for electric vehicles. Before being used in batteries, it is mined in the form of lithium ore. Australia has a dominant global position in lithium mining. The country produces significant quantities of lithium, and this is expected to increase over the next few years. The future of lithium Lithium consumption has continued to rise across the globe, as manufactures continue to adapt to the growing demands from consumers. With lithium-ion batteries used across many different applications and technology continuing to advance, the cost of lithium-ion batteries will likely decrease over time. A challenge faced by lithium battery manufacturers is efficiently recycling them. This may prove to be a lucrative market in the future, with the size of the global market for lithium-ion battery recycling poised to increase significantly in the next decade.