Lithium Carbonate Market Size Report, Demand and Growth 2030

Lithium Carbonate Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Grade (Industrial Grade, Pharmaceutical Grade, and Battery Grade) and Application (Batteries, Ceramic and Glass Production, Lubricants, Pharmaceuticals, Metallurgy, and Others)

  • Report Code : TIPRE00028411
  • Category : Chemicals and Materials
  • Status : Data Released
  • No. of Pages : 150
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The lithium carbonate market size was valued at US$ 5,280.92 million in 2022 and is projected to reach US$ 7,024.31 million by 2030; it is anticipated to record a CAGR of 3.6% from 2022 to 2030.


Lithium carbonate is an inorganic compound widely used in various applications such as the production of lithium-ion batteries, drug production, glass and ceramics, aluminum, air conditioning, greases and lubricants, chemicals, and metallurgy. Lithium carbonate is a precursor of lithium grease, which is generally used as a lubricant in various industrial applications. It is also used in lithium bromide absorption refrigeration systems. The widespread adoption of lithium-ion batteries in recent years has significantly increased the demand for lithium carbonate, making it a significant constituent in the development of technologies related to energy storage, electric transportation, and electronics.


The rising production of lithium-ion batteries for electric vehicle production and the adoption of lithium carbonate in the ceramics industry are a few factors boosting the growth of the global lithium carbonate market. Lithium carbonate is a source of lithium ions and, therefore, is used in the production of cathode materials. The increasing demand for lithium-ion batteries can be attributed to the growing demand for electric vehicles, renewable energy storage, and portable electronic devices. Lithium-ion batteries are the preferred choice for electric vehicles due to their high energy density, long cycle life, and lightweight compared to conventional batteries. The expansion of renewable energy sources has further created the need for efficient energy storage solutions. Advancements in battery technology and manufacturing processes have led to significant cost reductions in lithium-ion battery production. This has made electric vehicles more affordable and encouraged further adoption. Lithium carbonate is used in the ceramic industry for its fluxing properties, promoting vitrification in ceramic glazes. It also helps lower the melting temperature needed to achieve proper maturation of the ceramic formulation. It enhances the forming characteristics of ceramics and influences color development in certain glazes.

Environmental concerns and supply chain vulnerabilities pose challenges to market growth. Geopolitical factors, mining challenges and availability of lithium reserves influence the lithium supply chain. The lithium market has experienced price volatility due to factors such as supply-demand dynamics and changes in government policies. Lithium extraction processes involving conventional mining can pose environmental impacts. Concerns related to water utilization, soil degradation, and chemical use in lithium mining can lead to strict regulations, potentially affecting the manufacturing and processing of lithium carbonate. Hence, environmental concerns and supply chain vulnerabilities restrain the lithium carbonate market growth.

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Lithium Carbonate Market: Strategic Insights

Market Size Value inUS$ 5,280.92 million in 2022
Market Size Value byUS$ 7,024.31 million by 2030
Growth rateCAGR of 3.6% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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The "Global Lithium Carbonate Market Analysis and Forecast to 2030" is a specialized and in-depth study with a significant focus on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation on the basis of grade, application, and geography. The report provides key statistics on the consumption of lithium carbonate across the world, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the lithium carbonate market performance in major regions and countries. It also includes a comprehensive analysis of the leading players in the lithium carbonate market and their key strategic developments. Analysis of the market dynamics is also included to help identify the key driving factors, market trends, and lucrative opportunities, which, in turn, aid in identifying the major revenue pockets.

The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global lithium carbonate market, which helps understand the entire supply chain and various factors affecting the market growth.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.


The global lithium carbonate market is divided on the basis of grade and application. Based on grade, the lithium carbonate market is segmented into industrial grade, pharmaceutical grade, and battery grade. Based on application, the market is segmented into batteries, ceramic and glass production, lubricants, pharmaceuticals, metallurgy, and others. Further, the battery grade segment accounted for a significant share of the lithium carbonate market in 2022. Battery-grade lithium carbonate is specifically produced for utilization in rechargeable batteries or lithium-ion batteries. The production of battery-grade lithium carbonate plays a major role in the overall efficiency and safety of lithium-ion batteries, widely used in electric vehicles and energy storage systems. Pharmaceutical-grade lithium carbonate refers to a high-purity form specifically produced for utilization in pharmaceutical and medical applications. It is used as medication in the treatment of certain psychiatric disorders. Industrial-grade lithium carbonate has a broad range of applications in the glass and ceramics industry, air conditioning, greases, and aluminum production.

Based on application, the batteries segment accounted for a significant share in 2022. The most significant application of lithium carbonate is the manufacturing of lithium-ion batteries. These batteries are majorly used in portable electronic devices, electric vehicles, and energy storage systems due to their high energy density and rechargeable capabilities. Lithium carbonate is used as medication in psychiatry. It is used for the production of mood-stabilizing drugs used in the treatment of bipolar disorder. Lithium carbonate is also used as a flux in the glass and ceramic industry. Lithium carbonate is also used as a flux in the processing of aluminum in the aluminum industry. It is a precursor to lithium grease, used as a lubricant in various industries.

Lithium Carbonate Market – by Grade, 2022 and 2030

Lithium Carbonate Market – by Grade, 2022 and 2030
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.


The report provides a detailed overview of the global lithium carbonate market with respect to five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific accounted for a significant share of the lithium carbonate market and was valued at more than US$ 4 billion in 2022. Asia Pacific is a hub for major lithium-ion battery producers with a large presence of international and domestic players operating in the electric vehicles market. In recent years, China has emerged as a major contributor to the global electric vehicles market. The growing production of electric vehicles in the country is also driven by supportive government policies such as the introduction of the “New Energy Vehicle Industry Development Plan,” launched in 2020.

The Europe market is expected to reach more than US$ 600 million by 2030. According to the European Commission, in Europe, 197 thousand plugin vehicles were registered in April 2023, recording a rise of 25% year-on-year. Europe also has a strong and competitive ceramics industry, one of the major consumers of lithium carbonate. The region marks the presence of many small and medium-sized ceramic manufacturers. Therefore, the expansion of the electric vehicles industry is projected to fuel the demand for lithium carbonates in Europe in the coming years. The North America lithium carbonate market is expected to account for over 7% of the global lithium carbonate market in 2030. Government policies have encouraged the growth of battery-powered electric vehicle production and sales. The US government is also planning to raise tax credits for the purchase of electric vehicles.


Various initiatives taken by the key players operating in the lithium carbonate market are listed below:

  • In August 2023, E3 Lithium produced the first lithium carbonate from its resources in the US. Further, testing was conducted to treat a concentrated sample produced by the direct lithium extraction technology.
  • In February 2023, Livent Corporation reported the first 10,000 metric ton expansion of lithium carbonate in Argentina.
  • In April 2022, SQM invested US$ 900 million for the expansion of lithium carbonate capacity to ~180 thousand metric ton per year.


Before the COVID-19 pandemic, many countries across the globe reported economic growth. The key manufacturers invested in the research and development of lithium carbonate. They also focused on the expansion of geographic reach through merger and acquisition strategies to cater to a wide customer base. Before the COVID-19 pandemic, lithium carbonate producers reported steady growth in manufacturing due to increasing demand for electric vehicles. According to the US International Trade Commission (USITC), owing to the high vulnerability of the automotive industry, vehicle sales in the US decreased by 15% in 2020 compared to 2019. During the pandemic, supply chain disruptions, raw material and labor shortages, and operational difficulties created a demand and supply gap, which adversely affected the lithium carbonate market growth.

The production shortfall caused by severe disruptions in supply chains and limited skilled laborers created a demand-supply gap in many regions, particularly Asia Pacific, Europe, and North America. The demand and supply gap were also recorded in the regions above due to fluctuating demand from major end-use industries. In 2021, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to conducive environments for the chemicals & materials industry. The sales of lithium carbonate increased with the resumption of production & sales operations of electric vehicle manufacturers and battery-producing companies.


Albemarle Corporation, SQM SA, Targray, Noah Chemicals, Livent, Imerys, Tianqi Lithium, Alfa Aesar, Otto Chemie Pvt Ltd, and Celtic Chemicals Ltd are among the key players operating in the lithium carbonate market.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Grade, and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions

What are the key drivers for the growth of the global lithium carbonate market?

The growing sales of electric vehicles, and adoption of lithium carbonate in ceramics production are some of the key driving factors for the lithium carbonate market.

What is the largest region of the global lithium carbonate market?

Asia Pacific lithium carbonate market is expected to surge due to growing sales of electric vehicles in the region. Asia Pacific also marks prevalence of automotive industry, with high number of original equipment manufacturers. Therefore, Asia Pacific accounts the largest share of the global lithium carbonate market.

What are the opportunities for lithium carbonate in the global market?

Development of recycling technologies to recycle spent lithium-ion batteries is expected to create lucrative opportunities to the global lithium carbonate market during the forecast period.

Based on the grade, why does the battery grade segment have the largest revenue share?

Based on the grade, the battery grade segment accounted for the largest revenue share. Electric vehicles have gained popularity over past few years fostered by government initiatives. The growth of renewable energy sector and increasing adoption of electric vehicles is driving the demand for battery grade lithium carbonate.

Can you list some of the major players operating in the global lithium carbonate market?

The major players operating in the global lithium carbonate market are Albemarle Corporation, SQM SA, Livent, Imerys, and Tianqi Lithium, among others.

The List of Companies - Lithium Carbonate Market

  1. Albemarle Corporation
  2. SQM SA
  3. Targray
  4. Noah Chemicals
  5. Livent
  6. Imerys
  7. Tianqi Lithium
  8. Alfa Aesar
  9. Otto Chemie Pvt Ltd
  10. Celtic Chemicals Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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