Lithium Carbonate Market Size To Reach $61,052.6 Million By 2030

Lithium Carbonate Market Growth & Trends

The global lithium carbonate market is anticipated to reach USD 61,052.6 million by 2030 and is anticipated to expand at a CAGR of 15.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. Ongoing advancements in lithium extraction technologies, such as direct lithium extraction (DLE), are improving the efficiency and sustainability of lithium production. These innovations are helping to meet the rising product demand while also addressing environmental concerns, such as water usage and habitat disruption, associated with traditional lithium mining methods.

The demand for consumer electronics such as smartphones, laptops, and wearable devices also contributes significantly to the industry's growth. These devices rely on lithium-ion batteries for their lightweight, long-lasting, and high-performance characteristics. Additionally, the ongoing development of new technologies such as 5G, artificial intelligence, and the Internet of Things (IoT), all of which require advanced batteries, further fuels the need for lithium carbonate.

Innovations in battery technology, particularly the development of solid-state batteries and advancements in anode materials, are revolutionizing energy storage by enhancing lithium-ion batteries' efficiency, safety, and longevity. Solid-state batteries replace the liquid electrolyte with a solid electrolyte, reducing the risk of leakage, improving thermal stability, and enabling higher energy densities. This technological leap requires ultrapure lithium carbonate as a critical component to ensure optimal performance.

In addition, advancements in anode materials, such as silicon-based anodes, promise to significantly increase battery capacity and charging speed. Silicon anodes, however, experience volume expansion during charge cycles, necessitating high-quality products to stabilize the battery chemistry and improve its cycle life.

As digital transformation accelerates across industries, these devices have become indispensable for personal, professional, and educational purposes, driving a surge in demand for efficient and reliable battery technology. The shift toward remote work and online learning, particularly post-pandemic, has amplified the reliance on laptops and mobile devices, further boosting the need for high-performance batteries.

The Asia-Pacific region is projected to be the fastest-growing region in the lithium carbonate industry. The region, particularly China, is a major hub for EV manufacturing and adoption. The increasing demand for EVs is driving a significant surge in the need for lithium-ion batteries, thus positively influencing the overall demand in industry. While Asia-Pacific is leading growth, other regions like North America and Europe are also experiencing significant growth due to similar factors, such as the expanding EV market and the shift towards renewable energy sources.

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Lithium Carbonate Market Report Highlights

• The lithium-ion batteries segment accounted for the largest revenue market share, 53.6%, in 2024. With the increasing focus on sustainable transportation and stringent government regulations aimed at reducing carbon emissions, the demand for lithium-ion batteries in the EV sector has increased.

• The battery-grade segment dominated the market, with a market share of 47.6% in 2024; the key driver is the need for large-scale energy storage systems. As the world embraces renewable energy sources such as solar and wind, there is a growing demand for efficient energy storage to balance the intermittent nature of renewable power.

• The electric vehicles segment accounted for the largest revenue market share, 54.7%, in 2024. This segment is driven by the global shift toward sustainability and the increasing adoption of clean transportation technologies.

• Asia Pacific is the dominant region for the Lithium Carbonate market, with a revenue share of 35.3% in 2024. The growing focus on sustainability and environmental concerns across Asia Pacific is driving the shift toward electric vehicles and renewable energy sources, making lithium carbonate an essential material for meeting the increasing demand for EVs, energy storage systems, and other green technologies in the region.

Lithium Carbonate Market Segmentation

Grand View Research has segmented the global lithium carbonate market report on the basis of battery type, grade, application, and region:

Lithium Carbonate Battery Type Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

• Lithium-ion Batteries

• Lithium-metal Batteries

• Others

Lithium Carbonate Grade Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

• Battery Grade

• Technical Grade

• Industrial Grade

Lithium Carbonate Application Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

• Electric Vehicles

• Pharmaceutical

• Cement

• Glass & Ceramics

• Others

Lithium Carbonate Regional Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Lithium Carbonate Market

• Albemarle Corp.

• Ganfeng Lithium Co., Ltd.

• SQM S.A.

• Tianqi Lithium Corporation

• Livent Corp.

• Lithium Americas Corp.

• Pilbara Minerals

• Orocobre Limited Pty. Ltd.

• Mineral Resources Group Co., Ltd.