Lithium decreased 750 CNY/T or 1.00% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lithium - values, historical data, forecasts and news - updated on March of 2025.

In 2022, the average price of battery-grade lithium carbonate stood at 71,000 U.S. dollars per metric ton. This figure is by far the highest price for battery-grade lithium carbonate recorded in the period of consideration. For 2024, lithium carbonate price was estimated at 14,000 U.S. dollars per metric ton. Lithium is a highly reactive soft and silvery-white alkali metal. As the third element in the periodic table, it has 3 protons in its nucleus and three electrons around it. Because it is highly reactive, it cannot be found in its pure form in nature. Lithium is the least dense of solid elements and the lightest out of all metals. Lithium and batteries One of lithium’s most well-known end uses is in lithium-ion batteries. Lithium-ion batteries are rechargeable and mostly used in portable electronics and electronic vehicles. In lithium-ion batteries, the lithium ions move from the negative electrode to positive electrode while in use, and the process is reversed while charging. These batteries are highly flammable but are also low-maintenance. They have a high energy density and a low self-discharge. Some drawbacks include the fact that they are expensive to manufacture, and that they require protection circuits to maintain the voltage safely. Lithium-ion batteries are also the single-largest end use of lithium, amounting to an 87 percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at 1.4 million tons by 2025. This growth will be mainly driven by lithium-ion battery demand for electric vehicles. Demand is expected to remain the highest in China, which will consistently account for half of global lithium-ion battery demand.

In 2025, the global demand for lithium is expected to surpass 1.4 million metric tons of lithium carbonate equivalent, a growth of 53 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 global lithium compounds market was approximately USD 3.00 billion in 2019 and is anticipated to reach around USD 11.00 billion by 2026, at a CAGR of 20% during the forecast period.

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.

In 2024, after three years of decline, there was growth in the Kenyan lithium carbonate market, when its value increased by 4.1% to $3.7K. Over the period under review, consumption enjoyed buoyant growth. Lithium carbonate consumption peaked at $5.2K in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

The Bangladeshi lithium carbonate market was finally on the rise to reach $114K in 2024, after three years of decline. In general, consumption recorded a resilient expansion. Over the period under review, the market attained the maximum level at $150K in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

• Global Lithium Cobalt Oxide Market

Global Lithium Cobalt Oxide Market is estimated to be valued US$ XX.X million in 2019. The report on Lithium Cobalt Oxide Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global lithium cobalt oxide market is segmented on the basis of type, application, and geography.

Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Read More

• Lithium Ion Li Ion Battery Materials Market Scope:

Global Lithium Ion Li Ion Battery Materials Market is estimated to be valued US$ XX.X million in 2019. The report on Lithium Ion Li Ion Battery Materials Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global lithium ion li ion battery materials market is segmented on the basis of type, application, and geography.

In 2019, the North America market is valued US$ XX.X million and the market share is estimated X.X%, and it is expected to be US$ XX.X million and X.X% in 2029, with a CAGR X.X% from 2020 to 2029. Read More

This statistic projects the market for lithium-ion batteries used in handsets between 2012 and 2020. It is estimated that this market will exceed six billion U.S. dollars by 2016.

Global Pharmaceutical Grade Lithium Carbonate Market was valued at USD 145.89 Million in 2024 and is expected to reach USD 152.97 Million by 2030 with a CAGR of 3.75% during the forecast period.

The global Lithium Foil Market size is expected to grow from USD 538 million in 2019 to USD 950 million by 2026, at a CAGR of 8.4% from 2020-2026

In 2024, the Ethiopian lithium carbonate market decreased by -5.2% to $4.1K for the first time since 2020, thus ending a three-year rising trend. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $27K in 2016; however, from 2017 to 2024, consumption failed to regain momentum.

This statistic shows the forecasted price of spodumene from 2016 to 2020. It is forecasted that in 2020, spodumene will cost 550 U.S. dollars per metric ton, an increase from the forecasted price in 2016 of 517 U.S. dollars per metric ton. Spodumene is a mineral from which lithium can be produced.

• Lithium Ion Battery Cathode Materials Market Scope:

Global Lithium Ion Battery Cathode Materials Market is estimated to be valued US$ XX.X million in 2019. The report on Lithium Ion Battery Cathode Materials Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global lithium ion battery cathode materials market is segmented on the basis of type, application, and geography.

In 2019, the North America market is valued US$ XX.X million and the market share is estimated X.X%, and it is expected to be US$ XX.X million and X.X% in 2029, with a CAGR X.X% from 2020 to 2029. Read More

According to Cognitive Market Research, the global Pharmaceuticals Grade Lithium Carbonates market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of XX from 2024 to 2031.

• The global Pharmaceuticals Grade Lithium Carbonates market will expand significantly by XX% CAGR between 2024 and 2031. • Asia Pacific held the major market of more than XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. • Europe accounted for a share of over XX% of the global market size of USD XX million. • North America held a market of around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. • Latin America's market will have more than XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. • Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031. • According to Cognitive Market Research, Above 99% is the dominant type segment in the Pharmaceuticals Grade Lithium Carbonates market. • According to Cognitive Market Research categorizes the Pharmaceuticals Grade Lithium Carbonate market application segment into extended release and immediate release, with extended-release dominating.

MARKET DYNAMICS:

Key Drivers

Rising incidence of mental illness is a significant driver propelling the demand for Pharmaceuticals Grade Lithium Carbonate Market 

The increased prevalence of mental illness is an essential component driving the need for pharmaceutical-grade lithium carbonate. With millions of people worldwide suffering from mental health issues including bipolar disorder and depression, there is an increasing demand for effective therapies. Lithium carbonate, known for its mood-stabilizing effects, is a key component in the treatment regimen for such illnesses, adding to its growing status. As awareness of mental health concerns rises and stigma fades, more people seek diagnosis and treatment, increasing demand for medications using lithium carbonate as an active component. For instance, according to World Health Organization (WHO) reports, 1 in 8 people worldwide suffer from mental disorders, including anxiety and depressive disorders. The COVID-19 pandemic has increased these cases, with an estimated 26% and 28% increase in 2020. Despite effective prevention and treatment options, many face stigma, discrimination, and human rights violations. Bipolar disorder, affecting 40 million people in 2019, requires psychoeducation, stress reduction, social functioning strengthening, and medication. (Source:https://www.who.int/news-room/fact-sheets/detail/mental-disorders) Furthermore, the increased emphasis on mental health assistance and efforts, especially in light of the COVID-19 pandemic's impact on mental well-being, is likely to drive up demand for lithium carbonate-based medications. As a result, the Pharmaceutical Grade Lithium Carbonate market is poised for long-term expansion, fueled by the need to address the worldwide burden of mental illness and improve patient outcomes.

Key Restrain

Side effects and safety concerns associated with lithium-based medications hamper the growth of Pharmaceuticals Grade Lithium Carbonates Market

The growing demand for the Pharmaceuticals Grade Lithium Carbonates Market is hampered by the side effects and safety issues connected with lithium-based drugs. While lithium carbonate is beneficial in treating mood problems, it can also induce tremors, weight gain, renal malfunction, and thyroid abnormalities. These adverse effects can influence patient compliance and quality of life, thus healthcare practitioners and patients may be hesitant to prescribe and use lithium-based drugs. Furthermore, lithium's narrow therapeutic index demands accurate blood level monitoring to avoid toxicity, adding the treatment's complexity and cost. Safety concerns about potential long-term impacts o...

China Market Price: Monthly Avg: Inorganic Chemical Material: Lithium Carbonate (Battery Grade): 99.5% data was reported at 78,800.000 RMB/Ton in Jan 2025. This records a decrease from the previous number of 80,500.000 RMB/Ton for Dec 2024. China Market Price: Monthly Avg: Inorganic Chemical Material: Lithium Carbonate (Battery Grade): 99.5% data is updated monthly, averaging 116,900.000 RMB/Ton from Jun 2020 (Median) to Jan 2025, with 56 observations. The data reached an all-time high of 597,000.000 RMB/Ton in Nov 2022 and a record low of 44,070.000 RMB/Ton in Jun 2020. China Market Price: Monthly Avg: Inorganic Chemical Material: Lithium Carbonate (Battery Grade): 99.5% data remains active status in CEIC and is reported by China National Chemical Economic and Technical Development Centre. The data is categorized under China Premium Database’s Price – Table CN.PC: China Petroleum & Chemical Industry Association: Petrochemical Price: Inorganic Chemical Material.

In 2024, the Colombian market for lithium oxide, hydroxide and carbonates decreased by -18% to $3M for the first time since 2020, thus ending a three-year rising trend. In general, consumption, however, recorded a buoyant expansion. Over the period under review, the market hit record highs at $3.6M in 2023, and then reduced notably in the following year.

• Lithium-based Railway Grease Market Scope:

Global Lithium-based Railway Grease Market is estimated to be valued US$ XX.X million in 2019. The report on Lithium-based Railway Grease Market provides qualitative as well as quantitative analysis in terms of market dynamics, competition scenarios, opportunity analysis, market growth, etc. for the forecast year up to 2029. The global lithium-based railway grease market is segmented on the basis of type, application, and geography.

Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Read More

This statistic projects the market for lithium-ion batteries used in power tools between 2012 and 2020. It is estimated that this market will exceed one billion U.S. dollars by 2015.