Lithium fell to 78,357.84 CNY/T on September 2, 2025, down 1.63% from the previous day. Over the past month, Lithium's price has risen 9.82%, and is up 4.48% 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.

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

Explore the volatility in the lithium spodumene market driven by fluctuating demand, geopolitical factors, and technological advancements. Understand how EV growth, sustainable mining practices, and macroeconomic conditions influence prices, offering insights for stakeholders in the lithium supply chain.

The global spodumene concentrate market is experiencing robust growth, driven by the burgeoning demand for lithium-ion batteries in the electric vehicle (EV) and energy storage sectors. With a market size of $4,055 million in 2025 and a projected Compound Annual Growth Rate (CAGR) of 7.3% from 2025 to 2033, the market is poised for significant expansion. This growth is fueled by several factors, including the increasing adoption of EVs globally, the expanding energy storage infrastructure for renewable energy sources, and the growing application of lithium in consumer electronics and specialized ceramics. The various grades of spodumene concentrate (5% Li₂O, 6% Li₂O, 7% Li₂O, and others) cater to different applications, with higher-grade concentrates commanding premium prices due to their higher lithium content and reduced processing requirements. Major players like AMG, Rio Tinto, and Pilbara Minerals are strategically investing in expanding their production capacities and exploring new lithium resources to meet the surging demand. Geographic distribution shows a strong concentration in regions with significant lithium reserves and established mining operations, particularly in Australia, South America, and parts of North America. However, ongoing challenges such as fluctuating lithium prices, supply chain disruptions, and environmental concerns related to lithium mining will continue to shape market dynamics. The continued growth of the spodumene concentrate market hinges on technological advancements improving extraction and processing efficiency, a greater focus on sustainable mining practices to mitigate environmental impact, and the successful development and implementation of lithium-ion battery recycling technologies. Furthermore, government policies supporting the adoption of EVs and renewable energy infrastructure in key markets will play a crucial role in driving future demand. Competition among producers will intensify as the market expands, with companies focusing on optimizing their operations, securing long-term off-take agreements, and expanding into new geographic areas to maintain market share and profitability. Regional variations in demand and regulatory environments will also necessitate targeted strategies for successful market penetration. The diversification of applications beyond the EV sector, although presently less significant, could also contribute to overall market growth.

Explore the factors influencing the lithium spodumene price chart, a key component in battery manufacturing for EVs and renewable energy. Understand its market dynamics, technological impacts, and cost variables that shape prices. Analyze historical data to forecast trends amid rising global lithium demand.

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.

Explore the factors influencing lithium spodumene spot prices, critical for lithium production and the global supply chain. Discover how demand from the electronics, automotive, and energy sectors, along with mining capabilities and geopolitical influences, affect these prices. Stay informed on market trends impacting lithium commodities.

The industrial grade spodumene market, a crucial component in lithium-ion batteries and metallurgical applications, is experiencing robust growth. While the provided CAGR is missing, considering the booming electric vehicle (EV) sector and increasing demand for lithium-based energy storage solutions, a conservative estimate places the CAGR at 15% for the forecast period (2025-2033). With a 2025 market size of $2475 million, this implies significant expansion. The market is driven primarily by the exponential rise in EV adoption globally, necessitating vast quantities of lithium-ion batteries. Furthermore, increasing demand for lithium in metallurgical applications, particularly in ceramics and glass manufacturing, contributes to overall market growth. Segmentation reveals a strong preference for high-concentration spodumene due to its superior extraction efficiency and lower processing costs, compared to low-concentration spodumene. Geographically, the Asia-Pacific region, particularly China, is expected to dominate the market, driven by its extensive manufacturing base and burgeoning EV industry. However, North America and Europe are also witnessing considerable growth due to increasing governmental support for renewable energy and EV infrastructure development. While supply chain constraints and fluctuating lithium prices present challenges, the long-term outlook for industrial grade spodumene remains exceptionally positive, fueled by the sustained growth of the global lithium-ion battery market. The major players in the industrial grade spodumene market, including Tianqi Lithium, Albemarle Corporation, Pilbara Minerals, Mineral Resources, SQM, and Ganfeng Lithium, are actively investing in expanding their production capacities and exploring new lithium sources to meet the escalating demand. Competition is fierce, leading to innovation in extraction techniques and downstream processing to improve efficiency and reduce costs. The market is likely to see further consolidation in the coming years as companies seek to secure long-term supply agreements and gain a competitive edge. Technological advancements in battery chemistry, specifically focusing on improving energy density and lifespan, are also anticipated to boost demand for high-quality spodumene. Regulatory frameworks promoting sustainable mining practices and the transition to renewable energy will also shape the future trajectory of this dynamic market.

As of August 2025, the leading mining company with lithium operations listed on the Australian Securities Exchange (ASX) was Pilbara Minerals Ltd, with a market capitalization of around *** billion Australian dollars. Mineral Resources Ltd followed, with a market capitalization of **** billion dollars. Pilbara Minerals Pilbara Minerals’ Pilgangoora mine, located in Western Australia, is one of the largest hard-rock lithium mines in the world. In the 2024 financial year, Pilbara Minerals’ revenue reached **** billion Australian dollars. The company’s production volume of lithium spodumene concentrates amounted to just over *** thousand dry metric tons in 2024. Australia’s lithium trade Australia plays a vital role in the global lithium market. While fiscal year 2023 saw a relatively high export value of lithium from Australia, primarily due to high production volumes and global demand, this decreased in the following years. Most of Australia’s lithium mines are in Western Australia. In 2024, China was the major export destination for Western Australian lithium spodumene concentrate. As the country explores more mid-stream lithium processing opportunities, it remains to be seen if China will still be the nation’s leading lithium trade partner.

The industrial grade spodumene market, valued at $1,398 million in 2025, is projected to experience robust growth, driven by the burgeoning demand for lithium-ion batteries in electric vehicles (EVs), energy storage systems (ESS), and portable electronics. A compound annual growth rate (CAGR) of 9.7% from 2025 to 2033 indicates a significant market expansion. This growth is fueled by several key factors: the global shift towards electric mobility, increasing investments in renewable energy infrastructure requiring ESS, and the ongoing miniaturization and improved performance of consumer electronics. Major players like Tianqi Lithium, Albemarle Corporation, Pilbara Minerals, Mineral Resources, SQM, and Ganfeng Lithium are strategically positioned to capitalize on this expanding market, focusing on efficient mining operations, processing techniques, and securing long-term supply contracts. However, challenges remain, including fluctuating lithium prices, geopolitical uncertainties impacting supply chains, and environmental concerns related to lithium mining and processing. Addressing these challenges through sustainable mining practices and efficient resource management will be crucial for sustained market growth. The forecast period (2025-2033) anticipates continued strong demand, leading to substantial market expansion. While specific regional breakdowns are unavailable, a reasonable assumption based on current market trends suggests a significant share for regions with strong EV adoption and established lithium-ion battery manufacturing hubs, such as Asia, North America, and Europe. The market segmentation (currently unspecified) likely includes categories based on spodumene concentration, particle size, and application. Future growth will depend on technological advancements in battery chemistry, increasing EV adoption rates globally, and the successful implementation of sustainable and responsible lithium sourcing strategies. Competitors will focus on innovation, cost optimization, and strategic partnerships to secure their market share in this dynamic and rapidly evolving industry.

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 Industrial Grade Spodumene market is experiencing robust growth, projected to reach a market size of $1398 million in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 9.7% from 2019 to 2033. This expansion is driven primarily by the surging demand for lithium-ion batteries, fueled by the rapid adoption of electric vehicles (EVs) and energy storage systems (ESS). The increasing focus on renewable energy sources and government initiatives promoting electric mobility are further bolstering market growth. Technological advancements in lithium extraction and processing techniques are also contributing to improved efficiency and lower production costs, making spodumene a more attractive raw material for battery manufacturers. Competition among key players such as Tianqi Lithium, Albemarle Corporation, Pilbara Minerals, Mineral Resources, SQM, and Ganfeng Lithium is intense, leading to continuous innovation and improvements in product quality and supply chain optimization. However, the market also faces challenges. Price volatility in lithium raw materials, coupled with geopolitical uncertainties and potential supply chain disruptions, can impact market stability. Furthermore, environmental concerns related to lithium mining and processing necessitate the adoption of sustainable practices to ensure long-term market viability. Despite these restraints, the long-term outlook for the Industrial Grade Spodumene market remains positive, given the undeniable growth trajectory of the electric vehicle and renewable energy sectors. The market is expected to continue its upward trend throughout the forecast period (2025-2033), driven by consistent demand and ongoing technological advancements.

The global spodumene concentrate market, valued at $2,263 million in 2025, is projected to experience robust growth, driven primarily by the burgeoning demand for lithium-ion batteries fueling the electric vehicle (EV) revolution and the expanding energy storage sector. A compound annual growth rate (CAGR) of 7.5% from 2025 to 2033 indicates a significant market expansion, reaching an estimated value exceeding $4,000 million by 2033. This growth is fueled by increasing government incentives for EV adoption worldwide, coupled with advancements in battery technology leading to higher energy density and longer lifespan. Key players like AMG, Keliber, Rio Tinto, and others are strategically investing in expanding their production capacities to meet the surging demand, leading to increased competition and innovation within the market. However, potential restraints include the geographical concentration of spodumene resources, geopolitical uncertainties impacting supply chains, and environmental concerns related to lithium mining and processing. Successfully navigating these challenges will be crucial for continued market expansion and profitability for industry participants. The market segmentation, while not explicitly provided, likely reflects distinctions based on grade of concentrate (e.g., battery grade, chemical grade), geographic region (e.g., Australia, South America, North America), and application (e.g., batteries, ceramics). Further analysis would show that regional disparities in market share will probably mirror existing lithium production hotspots, with Australia and South America likely holding significant portions of the market. As the demand grows, however, other regions may witness increased production and contribute to a more diversified market landscape. The evolving technological landscape, including advancements in lithium extraction and processing technologies, is also expected to influence the market trajectory and profitability of various players.

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.

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.

Spodumene concentrate (lithium ore) has become by far the dominant product in the industry over recent years. Spodumene concentrate is still mainly exported to China for further processing, but major mining firms have started using it domestically to refine lithium hydroxide. Given lithium's importance for battery manufacturing, many downstream buyers stockpiled lithium, prompting a spike in world prices. Skyrocketing spodumene concentrate prices fuelled revenue and profitability growth over the two years through 2022-23. This historic price surge prompted miners to boost output and capitalise on favourable market conditions, causing a wave of lithium supply to flood the market, which led to an oversupply issue. Due to the supply surge, prices started to normalise during 2023 and have plummeted over the two years through 2024-25. Softer lithium prices have prompted aggressive cost-cutting initiatives. Some producers, like Mineral Resources, are scaling back their production targets and investment strategies to maintain profitability, while some smaller miners have suspended operations entirely. Although prices have receded and are set to remain weak in 2024-25, they remain well above 2019-20 levels. Higher prices coupled with an overall climb in domestic production are why revenue is anticipated to have soared at an annualised 18.1% over the five years through 2024-25, to $5.4 billion, including a 52.3% plummet in 2024-25. Exports are expected to generate more than 80% of revenue in 2024-25, a share that has soared over the past decade as lithium concentrates dominate the market. Even so, mining firms will increasingly transfer products to domestic refining to produce lithium hydroxide over the coming years. This will mostly be performed by vertically integrated mining companies, with the value estimated as an intra-company transaction. This trend will cut into lithium export revenue, as lithium hydroxide exports are accounted for in the Gold and Other Non-ferrous Metal Processing industry. Domestic refining initiatives and growing non-lithium projects are poised to constrain lithium exports over the coming years. Recent price volatility and weak market conditions have halted newer projects, as demonstrated by the closure and paused expansions at the Tianqi Kwinana facility in January 2025. New non-lithium projects like the Paradise South operation and the Mardie Salt and Potash Project will support export revenue, limiting revenue declines attributable to the low lithium prices. Revenue is forecast to weaken at an annualised 0.4% over the five years through 2029-30, to $5.3 billion.

The global spodumene mineral market is experiencing robust growth, driven by the burgeoning demand for lithium-ion batteries in the electric vehicle (EV) and energy storage systems (ESS) sectors. The market size in 2025 is estimated at $5 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 15% from 2025 to 2033. This significant expansion is fueled by several factors, including the increasing adoption of EVs worldwide, government initiatives promoting renewable energy, and advancements in battery technology leading to higher energy density and longer lifespans. Key applications driving demand include chemical processing for lithium hydroxide and lithium carbonate production, as well as use in ceramics and glass manufacturing. However, the market also faces challenges like price volatility in lithium raw materials, geopolitical uncertainties impacting supply chains, and environmental concerns surrounding lithium mining and processing. The increasing exploration and development of new spodumene deposits, along with technological advancements in extraction and processing, are anticipated to mitigate some of these constraints. Segmentation by type (spodumene, kunzite, hiddenite, others) and application (chemical, ceramics, metallurgy, glass, others) reveals that chemical processing for battery production constitutes the largest segment, with consistent high growth expected throughout the forecast period. Geographical analysis indicates strong market presence in North America and Asia-Pacific, with China and Australia playing pivotal roles as major producers and consumers. The competitive landscape is marked by a mix of established players and emerging companies, including both mining giants and specialized lithium chemical producers. The strategic partnerships, mergers, and acquisitions within the industry reflect the intense competition and pursuit of market share. Companies like Albemarle, Ganfeng Lithium, and Pilbara Minerals are actively expanding their production capacities and exploring new technologies to cater to the soaring demand for lithium-based products. This dynamic interplay of factors—growth drivers, challenges, and competitive pressures—creates both opportunities and risks for stakeholders in the global spodumene mineral market. The market's overall trajectory suggests a continuation of substantial growth, though with inherent fluctuations in pricing and supply based on the evolving global energy landscape and technological advancements.

Lithium Market Outlook

According to our latest research, the global lithium market size reached USD 8.4 billion in 2024, reflecting robust demand across energy storage, automotive, and consumer electronics sectors. The market is demonstrating a strong growth trajectory with a CAGR of 13.5% from 2025 to 2033. By 2033, the lithium market is forecasted to reach approximately USD 25.3 billion, driven by the accelerating adoption of electric vehicles (EVs), expansion of renewable energy storage solutions, and technological advancements in battery chemistry. This surge is underpinned by increasing investments in clean energy infrastructure and a global push towards carbon neutrality.

The primary growth driver for the lithium market is the exponential rise in electric vehicle production worldwide. As governments enforce stricter emission regulations and consumers shift preferences towards sustainable mobility, automakers are ramping up EV manufacturing. This, in turn, is fueling demand for lithium-ion batteries, which are the heart of EV powertrains. Furthermore, leading automotive manufacturers are forging strategic alliances and long-term supply agreements with lithium producers to secure raw material access, ensuring supply chain stability and price predictability. The integration of lithium batteries in hybrid vehicles and plug-in hybrids further expands the addressable market, making lithium indispensable for the future of mobility.

Another significant growth factor is the rapid expansion of renewable energy storage systems. With the proliferation of solar and wind installations, the need for efficient, high-capacity energy storage has become paramount. Lithium-ion batteries have emerged as the preferred solution due to their high energy density, long cycle life, and declining cost curve. Governments and private enterprises are investing heavily in grid-scale battery storage projects, which not only stabilize energy supply but also enable greater penetration of renewables. This trend is particularly pronounced in regions with ambitious decarbonization targets, such as Europe, North America, and parts of Asia Pacific, where lithium-based solutions are critical for balancing intermittent renewable output.

Technological advancements and ongoing research in lithium extraction and battery chemistry are also propelling the market forward. Innovations such as direct lithium extraction (DLE) technologies are improving yield efficiencies and reducing environmental impact, making lithium production more sustainable and cost-effective. Furthermore, advancements in battery design—such as solid-state lithium batteries—promise higher performance, greater safety, and longer lifespan, broadening lithium’s application scope beyond automotive and energy storage to include consumer electronics, aerospace, and medical devices. These technological leaps are attracting significant venture capital and government funding, further accelerating market growth.

The process of Spodumene Conversion is pivotal in the lithium supply chain, particularly in the context of meeting the burgeoning demand for lithium-ion batteries. Spodumene, a lithium-rich mineral, undergoes a conversion process to extract lithium carbonate or lithium hydroxide, which are essential for battery production. This conversion process involves roasting the spodumene ore at high temperatures, followed by leaching and purification steps to obtain the desired lithium compounds. As the demand for electric vehicles and renewable energy storage systems continues to rise, the efficiency and scalability of spodumene conversion technologies are becoming increasingly important. Innovations in this area are focused on reducing energy consumption and environmental impact, making the extraction process more sustainable and cost-effective. These advancements are crucial for ensuring a stable and reliable supply of lithium to meet the growing needs of the global market.

Regionally, Asia Pacific dominates the global lithium market, accounting for the largest share in both production and consumption. This leadership is driven by the presence of major battery manufacturers, rapid industrialization, and a burgeoning EV market in countries like China, Japan, and South Korea. North America and Europe are also witnessing substantial growth, propelled by policy support for EV adoption and energ

Australia's PLS is set for growth in the evolving lithium market, focusing on strategic expansions and technology to capitalize on rising demand and prices.

The global technical grade lithium concentrate market is experiencing robust growth, driven by the escalating demand for lithium-ion batteries in electric vehicles (EVs) and energy storage systems (ESS). While precise market size figures for 2025 are not provided, considering a conservative estimate based on industry reports and observed growth patterns, we can project a 2025 market value in the range of $2-3 billion USD. This market is projected to exhibit a Compound Annual Growth Rate (CAGR) of approximately 15-20% from 2025 to 2033, indicating significant expansion over the forecast period. This growth is fueled by several key factors: the increasing adoption of EVs globally, coupled with government incentives and stricter emission regulations; the burgeoning renewable energy sector's reliance on lithium-ion batteries for energy storage; and the expanding application of lithium in specialized ceramics and glass production. However, the market's growth trajectory is not without challenges. Supply chain disruptions, geopolitical instability impacting lithium mining operations, and the volatility of raw material prices pose significant restraints. Moreover, the increasing focus on sustainable and ethical sourcing of lithium is influencing market dynamics, driving a push for responsible mining practices and improved environmental management. The market segmentation reveals a strong focus on spodumene concentrate as the dominant type of technical grade lithium concentrate, owing to its high lithium content and relative ease of processing. The applications segment is dominated by the expanding battery sector, followed by glass and ceramic manufacturing. Key players in this dynamic market include established lithium producers like Albemarle and SQM, along with emerging companies like Pilbara Minerals and Allkem, driving innovation and competition. Geographic distribution shows significant concentration in regions with substantial lithium reserves and strong manufacturing capabilities, such as Australia, South America, and China. The North American and European markets are also expected to witness strong growth, fueled by expanding EV adoption and renewable energy infrastructure development. The ongoing exploration and development of new lithium resources will be crucial in meeting the anticipated surge in demand throughout the forecast period.