Lithium fell to 71,350 CNY/T on August 1, 2025, down 0.90% from the previous day. Over the past month, Lithium's price has risen 15.73%, but it is still 10.25% 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 August 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.

Why did the Lithium Carbonate Price Change in July 2025? The Lithium Carbonate Price Index in the U.S. averaged USD 9,357/MT DDP USGC in Q2 2025, continuing a downward trajectory from earlier in the year as battery producers curtailed spot purchases.

In 2025, the price of ** percent lithium carbonate is projected to be around **** U.S. dollars per kilogram. Growing global lithium demandThere 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 ***** metric tons of lithium carbonate equivalent for non-rechargeable batteries. The 2018 annual average price of battery-grade lithium carbonate was ****** U.S. dollars per metric ton, increased from the ****** U.S. dollars in the previous year. Lithium demand by applicationLithium has many end use applications aside from batteries. For example, demand for lithium in ceramics is anticipated to reach ****** metric tons of lithium carbonate equivalent in 2025. Another example is that the demand for lithium in polymers is expected to grow to ****** metric tons of lithium carbonate equivalent by 2025, from the 2018 demand which was ***** metric tons.

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.

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.
Request Free Sample

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

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.

Lithium's market value is forecast to increase to nearly **** 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 *** billion U.S. dollars.

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.

Why did the Lithium Hydroxide Price Change in July 2025? The Lithium Hydroxide Spot Price Index in the U.S. dropped by 3.2% in Q2 2025, with prices declining to USD 8,600/MT by the end of June.

The total cost of producing battery grade lithium carbonate by 2025 is expected to amount to approximately ***** and ***** 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.

Cobalt traded flat at 33,335 USD/T on July 24, 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 August of 2025.

The Lithium Market size was valued at USD 22 Million in 2023 and is projected to reach USD 26 Million by 2032, exhibiting a CAGR of 19.57 % during the forecasts periods. Lithium, a key component in battery technology, particularly for electric vehicles (EVs) and energy storage systems, is experiencing rapid growth. The market is driven by the demand for lightweight, high-energy-density batteries. Lithium types include lithium carbonate and lithium hydroxide, each suited to specific battery chemistries. The extraction and refining of lithium involve technologies like spodumene mining and lithium brine extraction. The impact of lithium extends to the global push for renewable energy and the reduction of carbon emissions. Advantages include its critical role in green technologies, contributing to sustainability and energy efficiency across industries. Recent developments include: May 2022: Mineral Resources marked a significant milestone in its lithium growth strategy with the first new spodumene concentrate delivered at the Wodgina Lithium Project in the Pilbara region of Western Australia., April 2022: SQM SA planned to invest USD 900 million in 2022 as part of its plan to increase lithium carbonate and hydroxide production capacity. The company has plans to enhance lithium carbonate production capacity to 180,000 metric ton per annum in the future. Furthermore, the capacity is likely to reach 210,000 tons by early 2023., April 2022: Avalon Advanced Materials Inc. signed an agreement with RenJoules International Ltd, an Essar Company, to become a strategic partner and co-developer in support of Avalon's plans to establish a regional lithium battery materials supply chain. This agreement may fulfill the needs of upcoming electric vehicle and battery manufacturers in Ontario and other regions.. Key drivers for this market are: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Potential restraints include: Demand-supply Gap in the Lithium Market, Other Restraints. Notable trends are: The Battery Application Segment to Dominate the Market.

The lithium market is experiencing explosive growth, driven by the burgeoning electric vehicle (EV) industry and the increasing demand for energy storage solutions. With a Compound Annual Growth Rate (CAGR) of 19.57% from 2019 to 2033, the market's value is projected to significantly expand. This robust growth is fueled by several key factors. Firstly, the global transition towards cleaner energy sources is heavily reliant on lithium-ion batteries, making lithium a critical raw material. Secondly, advancements in battery technology are increasing energy density and reducing costs, further stimulating demand. Government incentives and policies supporting EV adoption and renewable energy infrastructure are also playing a crucial role. However, the market faces challenges such as supply chain constraints, geopolitical risks associated with lithium production concentration, and environmental concerns related to lithium mining. The market is segmented by various factors including battery chemistry (e.g., LCO, NMC, LFP), application (e.g., EVs, energy storage systems, portable electronics), and geographic region. Major players like Albemarle Corporation, SQM SA, and Ganfeng Lithium Co Ltd are fiercely competing to secure market share, engaging in strategic partnerships, mergers and acquisitions, and capacity expansions to meet the escalating demand. The market's future trajectory hinges on overcoming supply bottlenecks, achieving sustainable mining practices, and the continued technological advancements in battery technology. Despite challenges, the forecast for the lithium market remains remarkably positive. The increasing affordability and accessibility of electric vehicles, combined with the growing adoption of renewable energy technologies, point towards a continued surge in lithium demand throughout the forecast period (2025-2033). Regional variations in market growth will likely be influenced by factors such as government policies, infrastructure development, and the presence of established lithium mining and processing industries. It is crucial for market participants to proactively address the environmental and social responsibilities associated with lithium extraction to ensure the long-term sustainability of this vital industry. The strategic positioning of key players, coupled with continuous technological innovations in battery technology and recycling processes, will play a pivotal role in shaping the future of the lithium market. Future research will likely focus on improving extraction methods, developing alternative lithium sources, and optimizing battery performance for maximum efficiency and sustainability. Recent developments include: May 2022: Mineral Resources marked a significant milestone in its lithium growth strategy with the first new spodumene concentrate delivered at the Wodgina Lithium Project in the Pilbara region of Western Australia., April 2022: SQM SA planned to invest USD 900 million in 2022 as part of its plan to increase lithium carbonate and hydroxide production capacity. The company has plans to enhance lithium carbonate production capacity to 180,000 metric ton per annum in the future. Furthermore, the capacity is likely to reach 210,000 tons by early 2023., April 2022: Avalon Advanced Materials Inc. signed an agreement with RenJoules International Ltd, an Essar Company, to become a strategic partner and co-developer in support of Avalon's plans to establish a regional lithium battery materials supply chain. This agreement may fulfill the needs of upcoming electric vehicle and battery manufacturers in Ontario and other regions.. Key drivers for this market are: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Potential restraints include: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Notable trends are: The Battery Application Segment to Dominate the Market.

Platinum rose to 1,316.40 USD/t.oz on August 1, 2025, up 1.74% from the previous day. Over the past month, Platinum's price has fallen 6.74%, but it is still 37.27% higher than a year ago, 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 August of 2025.

The futures price of cobalt ranged between ****** and ****** U.S. dollars per metric ton between August 2019 and May 2024. The impact of the COVID-19 crisis can be appreciated between March and July 2020, when cobalt futures prices dropped to around ****** U.S. dollars per metric ton. The first significant increase in this figure following the beginning of the pandemic was in August 2020, followed by a generalized increase throughout 2021 to the reach a peak of ****** U.S. dollars in March 2022. Futures vs. Spot prices Futures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost ** billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was ** U.S. dollars per pound in 2022. Cobalt in battery production Cobalt is a primary component of producing batteries, particularly lithium-ion batteries, used in various electronic devices, especially electric vehicles (EVs). EV batteries require a specific amount of cobalt, while conventional vehicles do not. With an increasing demand for lithium-ion batteries in EVs as the EV industry advances, the global cobalt market volume is expected to increase continuously by 2025.

The Middle East and Africa (MEA) lithium market, while currently smaller than other regions, is poised for significant growth driven by the burgeoning renewable energy sector and increasing electric vehicle (EV) adoption. The region's abundant solar and wind resources are fueling a rapid expansion of energy storage solutions, creating substantial demand for lithium-ion batteries. Governments across MEA are actively investing in infrastructure development and promoting sustainable energy initiatives, further accelerating lithium demand. This positive regulatory environment, coupled with strategic investments in lithium mining and processing, is expected to propel the market's expansion in the coming years. While challenges remain, such as limited established lithium production capacity within the region and reliance on imports, strategic partnerships and technological advancements are mitigating these constraints. The projected 12.93% CAGR suggests a substantial increase in market value, potentially reaching several billion dollars by 2033. Significant growth is anticipated in applications such as battery storage for renewable energy projects, and the automotive sector, as more EVs enter the market. The diverse segments—including battery, grease, and glass/ceramic applications—will also contribute to this growth, with the battery segment likely to remain the dominant driver. The MEA lithium market's segmentation offers diversified growth opportunities. The battery segment is expected to lead, followed by other applications that could include specialized industrial lubricants or niche ceramic applications within the region. Key players are likely to focus on establishing local production facilities to reduce reliance on imports and capitalize on the increasing demand. Furthermore, partnerships with regional governments and investment in research and development could accelerate the pace of market growth. While the current market size for MEA is not explicitly stated, a logical estimation based on global market trends and the provided CAGR suggests a substantial but presently smaller market compared to North America or Asia-Pacific. However, its growth trajectory strongly suggests a significant future contribution to the global lithium market. Recent developments include: April 2022: SQM SA planned to invest USD 900 million in 2022 to increase lithium carbonate and hydroxide production capacity. The company planned to increase lithium carbonate production capacity to 180,000 metric tons annually. Furthermore, the capacity is likely to reach 210,000 tons by early 2023.. Key drivers for this market are: Accelerating Demand for Electric Vehicles, Growing Usage and Demand from the Portable Consumer Electronics; Other Drivers. Potential restraints include: Accelerating Demand for Electric Vehicles, Growing Usage and Demand from the Portable Consumer Electronics; Other Drivers. Notable trends are: Growing Demand from Battery Applications.

The size of the Lithium-Ion Battery Electrolyte Solvent Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of > 21.50% during the forecast period.The electrochemical process in lithium-ion batteries depends highly on the role played by solvents in electrolytes, namely lithium-ion battery electrolyte solvents. Such solvents make a medium to transfer lithium ions from an anode to a cathode during charging and discharging processes. Lithium-ion batteries, which have wide applications ranging from portable electronics to electric vehicles and energy storage, depend entirely on such electrolyte solvents for deciding its performance, safety, and lifespan.Electrolyte solvent selection is done with critical consideration: it affects some electrolyte properties, such as ionic conductivity, electrochemical stability, and safety. Among the most frequently used organic carbonate solvents for commercial electrolytes, ethylene carbonate (EC), diethyl carbonate (DEC), and dimethyl carbonate (DMC) are named. The other group of solvents is that of linear carbonates: ethyl methyl carbonate (EMC). Solvent blends are widely used to obtain optimal performance at the best possible level.The rapid demand for energy storage solutions is motivating the rapid growth of the lithium-ion battery electrolyte solvent industry. Market forces for highly efficient and safe lithium-ion batteries are propelling innovation in high-performance electric mobility and renewable energy systems. Researchers and manufacturers develop new solvent formulations and additives, continuously assessing improved performance, lowered costs, and enhanced safety. Recent developments include: In July 2022, UBE Corporation started the study for the feasibility of a construction site to produce Dimethyl Carbonate (DMC) and Ethyl Methyl Carbonate (EMC) in Louisiana, United States which are the principal component of the solvent for electrolytes in lithium-ion batteries. The company planned a production plant with a planned production capacity of 100,000 metric tons per year of DMC and 40,000 metric tons per year of EMC for which the company is planning a final investment decision by the first half of fiscal 2023, and operations to commence in the second half of fiscal 2025., In February 2022, South Korean company Lotte Chemical, announced an investment of KRW 602 billion (~USD 502 million) in its eco-friendly and specialty material business. The investment will be used for building a new plant to produce high-purity organic solvents, such as ethylene carbonate and dimethyl carbonate, which are used for lithium-ion battery electrolytes.. Key drivers for this market are: Increasing Demand from Electric Vehicle Manufacturers, Growing Demand from Smartphone Manufacturers. Potential restraints include: Potential Hazards Caused by Using Impure Electrolyte Solvents, Other Restraints. Notable trends are: Increasing demand from Electric Mobility/Vehicles Applications.

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.

The size of the MEA Lithium Industry was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 12.93% during the forecast period. Lithium is silvery-white alkali metal which possesses great energy density and light weight. It plays an important role in the global transition towards sustainable energy and electrification. The lithium business in the Middle East and Africa (MEA) is quickly growing, driven by increased demand for lithium-ion batteries used in electric vehicles (EVs), renewable energy storage, and consumer electronics. The MEA region's significant expenditures in renewable energy projects like solar and wind highlight the growing demand for effective energy storage solutions. In response, governments are actively supporting the expansion of the lithium sector with laws that provide incentives for lithium mining and battery manufacture, as well as research and development activities to promote lithium technologies. Technological improvements in lithium processing, such as direct lithium extraction (DLE) and better recycling processes, provide prospects to improve production efficiency and sustainability. However, the industry may face challenges from geopolitical risks that may affect the stability of lithium supply networks. Recent developments include: April 2022: SQM SA planned to invest USD 900 million in 2022 to increase lithium carbonate and hydroxide production capacity. The company planned to increase lithium carbonate production capacity to 180,000 metric tons annually. Furthermore, the capacity is likely to reach 210,000 tons by early 2023.. Key drivers for this market are: Accelerating Demand for Electric Vehicles, Growing Usage and Demand from the Portable Consumer Electronics; Other Drivers. Potential restraints include: High Dependency on Imports for Consumption, Other Restraints. Notable trends are: Growing Demand from Battery Applications.