Lithium traded flat at 60,200 CNY/T on June 6, 2025. Over the past month, Lithium's price has fallen 9.68%, and is down 40.69% 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 June 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 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 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 2025, the price of 99% lithium carbonate is projected to be around 7.60 U.S. dollars per kilogram.

Growing global lithium demand

There 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 4,450 metric tons of lithium carbonate equivalent for non-rechargeable batteries. The 2018 annual average price of battery-grade lithium carbonate was 17,000 U.S. dollars per metric ton, increased from the 15,000 U.S. dollars in the previous year.

Lithium demand by application Lithium has many end use applications aside from batteries. For example, demand for lithium in ceramics is anticipated to reach 51,788 metric tons of lithium carbonate equivalent in 2025. Another example is that the demand for lithium in polymers is expected to grow to 12,624 metric tons of lithium carbonate equivalent by 2025, from the 2018 demand which was 9,873 metric tons.

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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 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)

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By Application Insights

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

The market is primarily driven by the increasing demand for lithium-ion batteries, particularly in sectors such as electric vehicles (EVs), consumer electronics, and power grid storage. Lithium-ion batteries, known for their high-energy density, low weight, and size, are favored for their ability to power various applications. The EV industry's growing requirement for these batteries, coupled with declining battery technology prices and government regulations and subsidies, is expected to fuel market growth. Lithium-ion batteries are also gaining popularity in other sectors, including electric buses, portable power, and electric motorcycles. The market's evolution is further shaped by advancements in battery technology, such as solid-state batteries, lithium-sulfur batteries, sodium-ion batteries, and lithium-air ba

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

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

In 2024, the Nigerien lithium carbonate market decreased by -5.2% to $58K for the first time since 2020, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a deep slump. Over the period under review, the market reached the maximum level at $221K in 2014; however, from 2015 to 2024, consumption failed to regain momentum.

The total cost of producing battery grade lithium carbonate by 2025 is expected to amount to approximately 4,165 and 5,500 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.

The price of battery-grade lithium carbonate in China surged in 2021 as demand for electric vehicles (EV) rose significantly in the Asian country. The price of one metric ton of battery-grade lithium carbonate stood at more than 43,700 U.S. dollars as of December 31, 2021, representing an increase of nearly 500 percent compared to prices recorded in January of that year.

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.

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.

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.

In 2023, approx. 17K tons of lithium carbonates were imported into the United States; picking up by 7.2% on the year before.

The Kenyan lithium carbonate market fell to $514 in 2024, therefore, remained relatively stable against the previous year. Over the period under review, consumption recorded a deep setback. Over the period under review, the market hit record highs at $1.5K in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

By 2025, producing battery grade lithium hydroxide globally from brine harvesting will involve, in general, more costs than from spodumene. This is because in the first process it is necessary to produce lithium carbonate as an intermediate product, to later generate lithium hydroxide. It is expected that the difference in production costs between these two processes will amount to almost 1,000 U.S. dollars per ton of lithium carbonate equivalent.

In 2024, the global lithium oxide market increased by 6.8% to $6.5B, rising for the fourth consecutive year after two years of decline. In general, consumption, however, posted a resilient increase. Over the period under review, the global market hit record highs in 2024 and is expected to retain growth in years to come.

The global lithium market is projected to reach a value of 15.17 billion by 2033, expanding at a CAGR of 8.10% during the forecast period 2025-2033.The increase in demand for lithium-ion batteries in electronics and electric vehicles is a significant driver of this growth. Furthermore, government incentives and initiatives to promote clean energy and reduce carbon emissions are also contributing to the market's expansion. The key segments of the market include product type (lithium hydroxide, lithium carbonate, lithium chloride, butyllithium, lithium metal) and application (energy storage, greases, frits, glasses and ceramics, air treatment, adhesives). Some of the major companies in the lithium market include Albemarle Corporation (US),SQM S.A. (Chile),Livent (US),Altura Mining (Australia),Orocobre Limited Pvt Ltd (Australia),Jiangxi Ganfeng Lithium Co. Ltd (China),Tianqi Lithium Industries Inc. (China),Critical Elements Corporation (Canada),Lithium Americas Corp. (Canada),and Sayona Mining Limited (Australia). Geographically, the market is divided into key regions such as North America, South America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is expected to dominate the market in terms of both production and consumption. Recent developments include: In February 2021, BMW announced that it had signed a long-term supply contract with Livent Corporation, a US-based producer of lithium. Under the agreement, Livent will supply BMW with sustainably produced lithium hydroxide for use in the production of BMW's electric vehicles., In March 2021, Chinese battery manufacturer Contemporary Amperex Technology Co., Limited (CATL) announced that it had signed a strategic cooperation agreement with Chinese lithium producer, Jiangxi Special Electric Motor Co., Ltd. Under the agreement, the two companies will work together to develop and produce electric vehicle powertrains, as well as lithium-ion batteries., In April 2021, Albemarle Corporation announced that it had formed a joint venture with Chinese lithium producer, Jiangxi Special Electric Motor Co., Ltd., to develop and produce lithium hydroxide in China. The joint venture, known as JLSB, will have a total capacity of 25,000 metric tons per year of lithium hydroxide.. Notable trends are: Increasing adoption of electric vehicles driving the market growth.