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Lithium Carbonate Market Size (2024 - 2029)

The lithium carbonate market is projected to experience significant growth, driven by the increasing demand for lithium-ion batteries and investments in the glass and ceramics sectors. Despite challenges such as extraction constraints and geographical limitations of lithium mines, the market is poised for expansion, particularly in the metallurgy industry. The Asia-Pacific region is anticipated to lead the market, benefiting from the rising need for lithium carbonate across various applications, including pharmaceuticals, dental, and glass and ceramics.

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Market Size of Lithium Carbonate Industry

Lithium Carbonate Market - Market Summary
Study Period 2019 - 2029
Market Volume (2024) 0.56 Thousand LCE kilotons
Market Volume (2029) 0.16 Thousand LCE kilotons
CAGR (2024 - 2029) 23.22 %
Fastest Growing Market North America
Largest Market Asia-Pacific
Market Concentration High

Major Players

Lithium Carbonate Market Major Players

*Disclaimer: Major Players sorted in no particular order

Lithium Carbonate Market Analysis

The Lithium Carbonate Market size is estimated at 0.56 Thousand LCE kilotons in 2024, and is expected to reach 0.16 Thousand LCE kilotons by 2029, growing at a CAGR of 23.22% during the forecast period (2024-2029).

The growing demand for lithium-ion batteries and the increasing investments in the glass and ceramics industries are expected to drive the market for lithium carbonate. On the flip side, constraints in lithium extraction and geographical restrictions of lithium mines are expected to hinder the growth of the market.

  • The growing opportunity in the metallurgy industry is expected to create opportunities for the market during the forecast period.
  • The Asia-Pacific region is expected to dominate the market. It is also expected to register a considerable growth rate during the forecast period. This is due to the rising demand for lithium carbonate from Li-ion batteries, pharmaceuticals and dental, and glass and ceramics applications.

Lithium Carbonate Industry Segmentation

Lithium carbonate (Li2CO3) is a white powder, carbonate salt of lithium. It is used as cathode and electrolyte precursor materials for lithium iron phosphate (LFP) batteries, which have applications in portable electronic devices (such as cell phones and laptops) and electric vehicles (EVs).

The global lithium carbonate market is segmented by grade, application, and geography. By grade, the market is segmented into technical grade, battery grade, and industrial grade. By application, the market is segmented into Li-ion battery, pharmaceuticals and dental, glass and ceramic, aluminum production, cement industry, and other applications (air conditioning and treatment, lubricating grease, metallurgical industry, etc.). The report also covers the market sizes and forecasts for the global lithium carbonate market in 15 countries across major regions. For each segment, the market sizing and forecasts are provided based on volume (kilotons).

By Grade
Technical Grade
Battery Grade
Industrial Grade
By Application
Li-ion Battery
Pharmaceuticals and Dental
Glass and Ceramics
Aluminum Production
Cement Industry
Other Applications
By Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Lithium Carbonate Market Size Summary

The lithium carbonate market is poised for significant growth, driven by the escalating demand for lithium-ion batteries and increased investments in the glass and ceramics sectors. However, challenges such as difficulties in lithium extraction and geographical limitations of lithium mines may impede market expansion. The metallurgy industry presents new opportunities, further bolstering market prospects. The Asia-Pacific region is anticipated to lead the market, fueled by rising demand from various applications, including Li-ion batteries, pharmaceuticals, and glass and ceramics. The region's dominance is supported by the growing electric vehicle market and the increasing use of Li-ion batteries in solar energy systems, particularly in North America, Asia-Pacific, and Europe.

Globally, the lithium carbonate market is characterized by a consolidated structure, with major players like Albemarle Corporation, SQM SA, Ganfeng Lithium Group Co. Ltd, Tianqi Lithium Industry Co. Ltd, and Arcadium Lithium holding significant market shares. Recent strategic moves, such as the merger between Allkem and Livent to form Arcadium Lithium, and General Motors' investment in Lithium Americas, highlight the industry's focus on expanding production capabilities and securing supply chains. Additionally, partnerships like that between SQM SA and Ford Motor Company underscore the critical role of lithium carbonate in manufacturing high-performance electric vehicle batteries. Despite regional challenges, such as declining cement consumption in Japan, the market is expected to experience steady growth, driven by robust demand across various sectors.

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Lithium Carbonate Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Growing Demand From Lithium-ion Batteries

      2. 1.1.2 Increasing Investments in the Glass and Ceramics Industry

    2. 1.2 Market Restraints

      1. 1.2.1 Constraints in Lithium Extraction and Geographical Restriction of Lithium Mines

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 By Grade

      1. 2.1.1 Technical Grade

      2. 2.1.2 Battery Grade

      3. 2.1.3 Industrial Grade

    2. 2.2 By Application

      1. 2.2.1 Li-ion Battery

      2. 2.2.2 Pharmaceuticals and Dental

      3. 2.2.3 Glass and Ceramics

      4. 2.2.4 Aluminum Production

      5. 2.2.5 Cement Industry

      6. 2.2.6 Other Applications

    3. 2.3 By Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East and Africa

Lithium Carbonate Market Size FAQs

The Lithium Carbonate Market size is expected to reach 0.56 thousand LCE kilotons in 2024 and grow at a CAGR of 23.22% to reach 0.16 thousand LCE kilotons by 2029.

In 2024, the Lithium Carbonate Market size is expected to reach 0.56 thousand LCE kilotons.

Lithium Carbonate Market Report Snapshots

Lithium Carbonate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)