Explore the current trends and dynamics in the global lithium market, driven by rising demand from the electric vehicle sector and influenced by supply chain constraints, regulatory changes, and technological advancements. Discover how these factors impact lithium prices and the ongoing efforts to find sustainable extraction and recycling solutions.

During the last quarter of 2024, the lithium carbonate prices in the USA reached 10,842 USD/MT in December. As per the lithium carbonate price chart, due to excess and little demand, the market saw fluctuations. At first, prices stayed constant, but when supply exceeded demand, they began to decline. The market was soon dominated by lower-priced cargoes after a brief price spike brought on by expensive imports.

Explore IMARC’s newly published report, titled “Lithium Carbonate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of lithium carbonate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Although China is the second-largest importer of lithium carbonate in the world, it dominates globally in exports for lithium oxide and lithium hydroxide.With moderate lithium deposits, the country will need to find ways to expand its resource reserves to support the rapid development of its electric car and electronics industries. It is widely viewed that China will construct lithium mining facilities in Afghanistan, but this is very unlikely in the near future due to the difficult military and political situation there.

In Q2 2024, lithium hydroxide prices in the United States peaked at 14720 USD/MT in June. Several factors influenced these changes, including higher ocean freight demand, European restocking trends, and greater import activity within North America. These factors put pressure on the container market, reducing spot market liquidity and driving up shipping costs.

In April 2023, the price of Lithium Carbonate was reported at $67,831 per ton (CIF, Japan), a 1.6% increase compared to the previous month.

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

The price of lithium iron phosphate in China reached 8239 USD/MT in December 2023.

Explore IMARC’s newly published report, titled “Lithium Iron Phosphate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of lithium iron phosphate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

During Q2 2024, the lithium hexafluorophosphate prices in China reached 7778 USD/MT in June. The prices experienced a significant decline due to increased production, oversupply, global economic challenges, and decrease in demand for electric vehicles (EVs), particularly impacting China.

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 fluoride prices in the United States for Q3 2024 reached 44,000 USD/MT in September. The market saw low demand, surplus stock, and slow purchasing that resulted in falling prices. Support for upstream costs was limited, whereas rising imports intensified the strain. The quarter's results indicated negative conditions and ongoing downward trends, highlighting difficult economic situations.

Lithium prices are projected to stabilize in 2025 following substantial declines, attributed to mining adjustments and China's expanding EV market. Analysts foresee a balance between supply and demand.

The Asian lithium market dangles as a Chinese refinery restart threatens to lower prices by increasing supply. This development comes amid uncertain electric vehicle demand forecasts.

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...

Arcadium Lithium reported 100K in Ordinary Share Capital for its fiscal quarter ending in September of 2024. Data for Arcadium Lithium | LTM - Ordinary Share Capital including historical, tables and charts were last updated by Trading Economics this last February in 2025.

In May 2023, the price of Lithium Carbonate was $13,739 per ton (CIF, Germany), experiencing a decrease of -30.6% compared to the previous month.

Discover the ongoing lithium market trends, highlighting a persistent oversupply driven by robust Chinese production, causing a significant drop in prices and affecting global trade dynamics.

Jiangsu Lopal Tech Co. and CATL restart their lithium refinery in China, affecting prices in a volatile market with oversupply challenges.

During the second quarter of 2024, the ethylene carbonate (EC) prices in China reached 878 USD/MT in June, due to the increasing product utilization by manufacturers of lithium-ion battery and disruptions in supply. Prices rose 13% from the previous year and 2% from the last quarter, reflecting steady consumption and ongoing supply constraints.

Tianqi Lithium Corp. forecasts a significant net loss due to declining lithium prices and halts its Australian expansion, illustrating market challenges.

The global lithium market is grappling with persistent oversupply as production from Chinese mines continues, affecting prices and industry dynamics.