Canada Lithium Market Size & Outlook, 2023-2030
Canada lithium market, 2018-2030 (US$M)
Related Markets
Canada lithium market highlights
- The Canada lithium market generated a revenue of USD 481.5 million in 2023 and is expected to reach USD 860.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 8.7% from 2024 to 2030.
- In terms of segment, carbonates was the largest revenue generating product in 2023.
- Hydroxides is the most lucrative product segment registering the fastest growth during the forecast period.
Lithium market data book summary
| Market revenue in 2023 | USD 481.5 million |
| Market revenue in 2030 | USD 860.7 million |
| Growth rate | 8.7% (CAGR from 2023 to 2030) |
| Largest segment | Carbonates |
| Fastest growing segment | Hydroxides |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbonates, Hydroxides, Other Products |
| Key market players worldwide | Albemarle Corp, Sociedad Quimica Y Minera De Chile SA ADR, Livento Group Inc, Lithium Americas Corp, Pilbara Minerals Ltd, Beard Co, Mineral Resources Ltd |
Other key industry trends
- In terms of revenue, Canada accounted for 1.5% of the global lithium market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. lithium market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 6,351.1 million by 2030.
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Lithium Market Scope
Lithium Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada lithium market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to lithium market will help companies and investors design strategic landscapes.
Carbonates was the largest segment with a revenue share of 47.91% in 2023. Horizon Databook has segmented the Canada lithium market based on carbonates, hydroxides, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Canada was one of the largest lithium producers in the world in the 1950s, due to its huge lithium reserves. At that time, the capabilities of lithium were unknown to the world, which resulted in a downfall in lithium production in Canada.
However, with the growing demand for lithium, the country is expected to gain significance in the market. According to the USGS, Canada’s lithium reserves were around 3.0 million tons in 2023.
The government of Canada took an important step in 2019 with the launch of the Canadian Minerals and Metals Plan (CMMP), released on March 1, 2020, to achieve the goal of becoming one of the largest mining nations in the world.
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Our clientele includes a mix of lithium market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada lithium market , including forecasts for subscribers. This country databook contains high-level insights into Canada lithium market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada lithium market size, by product, 2018-2030 (US$M)
Canada Lithium Market Outlook Share, 2023 & 2030 (US$M)
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