Lithium fell to 75,907.59 CNY/T on September 4, 2025, down 2.07% from the previous day. Over the past month, Lithium's price has risen 6.61%, and is up 2.58% 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 September of 2025.

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.

In 2023, approx. 819 tons of lithium carbonates were imported into Australia; surging by 20% on the year before.

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.

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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?

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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 primarily

Nickel rose to 15,280 USD/T on September 5, 2025, up 0.13% from the previous day. Over the past month, Nickel's price has risen 0.99%, but it is still 3.86% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel - values, historical data, forecasts and news - updated on September of 2025.

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.

Learn about the increasing demand for lithium oxide, hydroxide, and carbonates in Australia and how it is expected to drive market growth over the next decade. Discover forecasts for market performance, including volume and value projections up to 2035.

In 2024, reserves of lithium in Chile amounted to an estimated *** million metric tons, the largest worldwide. That same year, Australia held a total lithium reserves of some ***** million metric tons. Australia leads lithium production Lithium is a soft, silver-white metal which occurs only in compounds as a mineral due to its high reactivity. Mineral reserves are defined as those minerals that were extractable or producible at the time of estimate. Chile had the largest lithium reserves worldwide, by a large margin. However, Australia was the top country in lithium mine production in 2024, with an output of ** thousand metric tons of lithium that year.

Lithium and the future of mobility Batteries account for the largest share of lithium end-usage. Propelled by the growth in the electric vehicle market, powered by rechargeable lithium batteries, global lithium demand is forecast to reach *** million metric tons by 2025. As of the first half of 2024, Chinese CATL and BYD were the top producers of lithium battery cells, combined accounting for more than half of the global market.

Cobalt traded flat at 33,335 USD/T on August 28, 2025. Over the past month, Cobalt's price has remained flat, but it is still 37.18% 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 September of 2025.

The article discusses the increasing demand for lithium-ion accumulators in Australia and forecasts a steady growth trend over the next decade. By 2035, the market is expected to reach 23M units and a value of $4.1B.

The world's mine production of lithium reached a new high of 240,000 metric tons in 2024. This represented a significant increase from 2010, when global lithium production stood at about 28,100 metric tons. Lithium: a useful and elusive element The chemical element lithium has many uses but is most notably used in batteries, mental health treatment, and in pyrotechnics. This silvery-white alkali metal was first isolated in 1855 by Augustus Mattiessen and Robert Bunsen. Lithium is widely present worldwide, but due to its high reactivity it does not naturally occur in its elemental form. Chile and Australia have the largest lithium reserves in the world. Lithium producers There are several key players involved in the lucrative global lithium mining business. Based on market capitalization, Albemarle was the leading lithium producing company in 2024. Looking to the future, lithium producers have a strong outlook, as the total worldwide lithium demand is expected to increase significantly in the coming years.

The demand for lithium oxides in Australia is on the rise, leading to an upward consumption trend expected to continue over the next decade. Market performance is forecasted to decelerate with a +2.8% CAGR from 2024 to 2035, reaching a market volume of 66K tons and a value of $1.5B by the end of 2035.

Stock Price Time Series for Venus Metals Corporation Ltd. Venus Metals Corporation Limited engages in the exploration of mineral tenements in Western Australia. The company explores for lithium, nickel, copper, gold, base metals, vanadium, rare earths, and platinum-group element deposits. Venus Metals Corporation Limited was incorporated in 2006 and is based in Subiaco, Australia.

Lithium Resources Market Outlook

The global lithium resources market size was valued at approximately $4.3 billion in 2023 and is projected to reach a staggering $22 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 20.5%. The market growth is primarily driven by the exponential increase in demand for electric vehicles (EVs) and renewable energy storage solutions, which are heavily reliant on lithium-ion batteries.

One of the primary growth factors for the lithium resources market is the rising adoption of electric vehicles across the globe. Governments are implementing stringent emission norms and providing various incentives to promote EV usage, thereby bolstering the demand for lithium-ion batteries. Consequently, the automotive industry's shift towards greener alternatives has significantly amplified the need for lithium, fueling market expansion. Additionally, advancements in battery technology and increasing investments in research and development are further propelling market growth.

Another critical driver is the burgeoning renewable energy sector, which necessitates efficient energy storage solutions. Lithium-ion batteries have emerged as the preferred choice for storing solar and wind energy due to their high energy density, long life cycles, and decreasing costs. As countries commit to reducing their carbon footprints and transitioning to sustainable energy sources, the demand for lithium resources is expected to soar, benefiting the overall market. Furthermore, the integration of energy storage systems with power grids to ensure a stable energy supply during peak demand periods is also contributing to this upward trend.

The consumer electronics industry is also a significant contributor to the growth of the lithium resources market. With the surging popularity of portable electronic devices such as smartphones, laptops, and tablets, the demand for efficient and long-lasting batteries has escalated. Lithium-ion batteries, known for their superior performance and compact size, are widely used in these devices, driving the market. In addition, the rising trend of wearable technology and smart home devices is further augmenting the need for lithium-based batteries, thereby supporting market expansion.

Regionally, Asia Pacific holds the lion's share of the lithium resources market, driven by robust industrial activities and the presence of major lithium-producing countries such as Australia and China. The region's dominance is also attributed to its thriving automotive and electronics industries, which are major consumers of lithium-ion batteries. North America and Europe are also significant markets, owing to their strong focus on renewable energy and electric vehicles. Latin America and the Middle East & Africa, while currently smaller markets, are expected to witness substantial growth over the forecast period due to increasing investments in mining and energy storage projects.

Source Analysis

The lithium resources market by source is categorized into brine, hard rock, and others. Brine serves as one of the most prevalent sources of lithium, accounting for a substantial market share. Lithium extraction from brine primarily takes place in salt flats, with significant operations in the Lithium Triangle, encompassing parts of Argentina, Bolivia, and Chile. The extraction process involves pumping lithium-rich brine to the surface, where it undergoes solar evaporation. This method is cost-effective and environmentally benign, making it a preferred choice. The increasing investments in expanding brine extraction capacities further underscore its importance in the global supply chain.

Hard rock mining is another crucial segment in the lithium resources market. This method involves extracting lithium from spodumene, a lithium-bearing mineral found in granite pegmatites. Australia is a leading producer of hard rock lithium, with substantial operations in the Pilbara region. Hard rock mining is considered more versatile and faster than brine extraction, albeit at a higher cost. The growing demand for lithium, particularly in the context of rapid EV adoption and renewable energy storage, has spurred investments in hard rock mining projects worldwide.

The 'others' category encompasses alternative lithium sources such as clay and recycled lithium. While still in nascent stages, these sources hold potential for future market growth. Clay extraction, for instance, involves leaching lithium from clay minerals, offering a sustainable alternative with a lower environmental foot

The article discusses the increasing demand for lithium carbonates in Australia, leading to an expected upward consumption trend over the next decade. Market performance is forecasted to decelerate, with a projected CAGR of +1.5% from 2024 to 2035, resulting in a market volume of 307 tons and a market value of $4.9M by the end of 2035.

Discover the expected upward consumption trend in Australia's market for lithium oxide, vanadium oxides, nickel oxides, germanium oxides, and zirconium dioxide over the next decade.

Platinum fell to 1,376.60 USD/t.oz on September 5, 2025, down 0.20% from the previous day. Over the past month, Platinum's price has risen 2.70%, and is up 49.57% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Platinum - values, historical data, forecasts and news - updated on September of 2025.

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Cylindrical Lithium-Ion Battery Market Size 2025-2029

The cylindrical lithium-ion battery market size is forecast to increase by USD 12.79 billion, at a CAGR of 6.8% between 2024 and 2029. The market is experiencing significant shifts due to the automotive industry's transition towards electric vehicles (EVs). This trend is driving the demand for cylindrical lithium-ion batteries, as they are the preferred battery type for EV applications.

Major Market Trends & Insights

APAC dominated the market and contributed 56% to the growth during the forecast period.
The market is expected to grow significantly in North America region as well over the forecast period.
Based on the Application, the Automotive segment led the market and was valued at USD 15.31 billion of the global revenue in 2023.
Based on the Type, the Lithium nickel manganese cobalt segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 65.32 Million
Future Opportunities: USD 12.79 Billion
CAGR (2024-2029): 6.8%
APAC: Largest market in 2023

The market continues to evolve, driven by advancements in technology and increasing demand across various sectors. Fast charging standards are a key focus, with prismatic lithium-ion batteries gaining popularity due to their ability to support faster charging times. This trend is particularly notable in the electric scooter and e-bike industries, where convenience and quick turnaround are essential. Cathode material innovation is another significant market dynamic. New materials, such as lithium nickel manganese cobalt oxide (NMC) and lithium iron phosphate (LFP), offer improved energy density and longer cycle life. However, battery aging and failure modes remain concerns, with battery swapping and cell chemistry optimization being explored as potential solutions.

What will be the Size of the Cylindrical Lithium-Ion Battery 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.
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Battery testing, thermal management, and safety standards are crucial aspects of the manufacturing process. Cost analysis and supply chain optimization are also essential for market competitiveness. The integration of renewable energy sources and grid-scale energy storage is a growing trend, with power density and performance degradation being key considerations. The market's ongoing evolution is further influenced by regulatory compliance, energy density, and battery pack design. Machine learning and artificial intelligence are being employed to enhance battery performance and optimize charging infrastructure. The manufacturing process, from raw materials sourcing to battery pack assembly, is under constant scrutiny for quality control and carbon footprint reduction.

The continuous unfolding of market activities and evolving patterns in the market demonstrate its dynamic nature. From electric vehicles to electric scooters and renewable energy integration, the applications are diverse, and the challenges are numerous. The market's continuous evolution underscores the importance of staying informed and adaptable.

The market continues to evolve in various sectors. However, this growth comes with challenges. Safety concerns are at the forefront, with revisions in lithium-ion battery safety standards becoming increasingly stringent. These regulations aim to mitigate risks associated with battery fires and explosions. The challenges posed by these safety concerns necessitate continuous research and development efforts to ensure the production of safer and more reliable batteries. Additionally, ensuring compliance with these standards adds to the manufacturing costs, potentially impacting market competitiveness. Companies must navigate these challenges while also capitalizing on the market opportunities presented by the growing EV market.

How is this Cylindrical Lithium-Ion Battery Industry segmented?

The cylindrical lithium-ion battery 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.

Application

  Automotive
  Industrial
  Consumer Electronics
  Energy Storage Systems
  Power Tools
  Telecommunication
  Aerospace
  Medical Equipment
  Unmanned Aerial Vehicles
  Others


Type

  Lithium nickel manganese cobalt
  Lithium titanate
  Lithium iron phosphate
  Lithium cobalt oxide
  Lithium Manganese Oxide
  Lithium Nickel Cobalt Aluminium Oxide (NCA)
  Cobalt-Manganese Mixture
  Ternary Lithium Batteries


Geography

  North America

    US
    Canada


  Europe

    France
    Germany


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea