Lithium Carbonate Market Size Opportunities and Challenges for the Future

The global transition toward electrification and renewable energy continues to drive exponential growth in lithium-ion battery demand placing lithium carbonate.

DE, UNITED STATES, July 29, 2025 /EINPresswire.com/ -- The global transition toward electrification and renewable energy continues to drive exponential growth in lithium-ion battery demand placing lithium carbonate at the forefront as a critical raw material. A key catalyst behind this surge is the rapid expansion of the electric vehicle (EV) industry. Governments worldwide are enforcing stricter emission regulations and rolling out lucrative EV incentives, prompting automakers to scale up production to meet rising consumer demand.

Allied Market Research published a report titled, "Lithium Carbonate Market by Grade (Battery Grade, Technical Grade, Industrial Grade), by Application (Electric Vehicles, Pharmaceutical, Cement Manufacturing, Glass and Ceramics, Others): Global Opportunity Analysis and Industry Forecast, 2024–2033".
According to the report, the global lithium carbonate market was valued at $26.7 billion in 2023, and is projected to reach $102.8 billion by 2033, growing at a CAGR of 14.5% from 2024 to 2033.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A108160

Exploring Growth & Innovation Opportunities:

- The EV industry is currently the largest consumer of lithium-ion batteries, accounting for 80% of demand in 2023, with usage expected to increase further as adoption rises.

- In China, the world’s largest EV market, government policy shifts—like the doubling of EV subsidies in July 2024 led to over 5 million EVs sold by mid-December 2024.

- This surge boosted lithium carbonate production, with China’s output increasing by 45% to reach 670,000 metric tons in 2024.

- Global EV battery demand hit 750 GWh in 2023, growing 40% YoY, with electric cars accounting for 95% of this increase.

To meet rising demand, key players are expanding:

- Saudi Aramco aims to enter commercial lithium production by 2027 to support 500,000 EV batteries and 110 GW of renewable energy capacity by 2030.
- Rio Tinto is negotiating the acquisition of Arcadium Lithium, reflecting the anticipated 8x growth in lithium demand by 2040.


Governing Policies & Regulatory Landscape:-

Global regulations and trade dynamics are shaping the lithium carbonate supply chain:

India:

- In August 2023, the Mines and Minerals (Development and Regulation) Act was amended to allow private lithium mining.
- In July 2024, customs duties on lithium mineral imports were eliminated to lower input costs for battery manufacturers.

Argentina:

- Imposed a FOB export reference price of $53/kg on lithium carbonate (May 2022 – July 2024) for exports to key markets including the U.S., China, and Japan.

China:

- Proposed new export restrictions in January 2025 on lithium processing technologies, aiming to protect its dominance in battery supply chains.

LFP Battery Expansion Accelerating Lithium Carbonate Demand:-

The rise of Lithium-Iron-Phosphate (LFP) batteries is bolstering lithium carbonate consumption. LFP technology offers:

- Enhanced safety
- Longer cycle life
- Lower production costs (no cobalt/nickel)

Major developments include:

- GM phased out its Ultium brand in October 2024, focusing on LFP to reduce EV costs by up to $6,000.
- Tesla, BYD, and Volkswagen have increasingly adopted LFP batteries.
- Stellantis and CATL announced a €4.1 billion ($4.47 billion) investment in a new LFP battery plant in Zaragoza, Spain, expected to start production in late 2026.


Sector-Wise Application & Strategic Policy Moves:-

Battery Manufacturing:

- Lithium carbonate remains a vital precursor for lithium-ion batteries used in EVs and consumer electronics.
- In February 2025, India exempted customs duties on lithium-ion battery scrap, aiming to promote domestic EV and battery production.

Construction Industry:

Used in cementitious materials to enhance strength and setting times. India’s full exemption on duties for 25 critical minerals, including lithium, supports both battery and construction sectors.

Glass & Ceramics:

- As a fluxing agent, lithium carbonate lowers silica melting points, improving product durability and heat resistance.
- The Glass Manufacturing Industry Council (GMIC) launched a $3 million decarbonization initiative through electric melting technologies.

Key Players & Strategic Moves:-

Leading Market Players:

- Ganfeng Lithium Group Co., Ltd
- Albemarle Corporation
- SQM S.A.
- Tianqi Lithium Corporation
- Merck KGaA
- LevertonHELM Limited
- Vishnupriya Chemicals Pvt. Ltd.
- Camber Pharmaceuticals, Inc.
- PACIFIC ORGANICS PVT. LTD.

Notable Developments:

- Albemarle (2024): Expanded facilities in Nevada and Chile, adding 30,000 metric tons/year by 2025.
- SQM (April 2022): Invested $900M to expand annual lithium carbonate capacity to 180,000 metric tons.
- India (Oct 2023): Introduced 3% royalty rates on lithium extraction to attract private investment.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/lithium-carbonate-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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