Top 15 Companies in Lithium Carbonate Market: Statistics Report Till 2035
RELEASE DATE: Oct 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, the Global Lithium Carbonate Market Size is projected to Grow from USD 25.45 Billion in 2024 to USD 120.32 Billion by 2035, at a CAGR of 15.17% during the forecast period 2025–2035. The developments in battery technologies, such as high-capacity lithium-ion and solid-state batteries, are spurring innovation and raising product consumption. The market is still expanding due to consumer preferences for long-lasting, lightweight batteries and the growing use of portable electronics. Lithium is becoming a key component of the global energy transition as a result of these developments and initiatives to ensure a sustainable supply chain. The need for lithium-based batteries has been further fueled by the increased use of electronic devices brought about by urbanisation and industrialisation in emerging economies.
Introduction
The high-purity, industrial-grade materials with a wide range of uses in the production of batteries, ceramics, glass, and pharmaceuticals are available in the lithium carbonate market. The transition to renewable energy is made possible by lithium carbonate, which is essential to lithium-ion batteries that power consumer electronics, energy storage devices, and electric vehicles. Yield, quality, and cost-effectiveness are being improved by advancements in extraction techniques, purification methods, and environmentally friendly mining techniques. The need for high-performance lithium-ion batteries is being driven by the growing consumer electronics sector, which includes wearable technology, notebooks, and smartphones. Manufacturers are under pressure to ensure steady supplies of lithium carbonate due to the growing consumer use of connected devices and the desire for longer battery life. Stricter environmental laws, the growing popularity of electric vehicles (EVs), the development of renewable energy storage options, and continuous technological advancements in lithium extraction and processing methods are the main factors propelling the market's expansion.
Navigate Future Markets with Confidence: Insights from Spherical Insights LLP
The insights presented in this blog are derived from comprehensive market research conducted by Spherical Insights LLP, a trusted advisory partner to leading global enterprises. Backed by in-depth data analysis, expert forecasting, and industry-specific intelligence, our reports empower decision-makers to identify strategic growth opportunities in fast-evolving sectors. Clients seeking detailed market segmentation, competitive landscapes, regional outlooks, and future investment trends will find immense value in the full report. By leveraging our research, businesses can make informed decisions, gain a competitive edge, and stay ahead in the transition toward sustainable and profitable solutions.
Unlock exclusive market insights - Download the Brochure now and dive deeper into the future of the Lithium Carbonate Market.
Lithium Carbonate Market Size & Statistics
- The Market Size for Lithium Carbonate Was Estimated to be worth USD 25.45 Billion in 2024.
- The Market is Going to Expand at a CAGR of 15.17% between 2025 and 2035.
- The Global Lithium Carbonate Market Size is anticipated to reach USD 120.32 Billion by 2035.
- Asia Pacific is anticipated to generate the highest demand during the forecast period in the lithium carbonate market.
- Europe is projected to Grow the fastest during the forecast period in the lithium carbonate market.
Regional growth and demand
Europe is estimated to grow the fastest during the forecast period in the lithium carbonate market. Europe is expected to experience rapid growth, and a key driver is the country’s focus on developing a robust renewable energy infrastructure. The is a growing need for energy storage systems, which are necessary to balance sporadic renewable energy sources like solar and wind. The market is crucial to the region's green energy transition because lithium-ion batteries, which are powered by lithium carbonate, are necessary for these storage solutions. The need for lithium carbonate for energy storage applications is further boosted by the EU's Green Deal and other programs aimed at decarbonizing the energy sector.
Asia Pacific is expected to generate the highest demand during the forecast period in the lithium carbonate market. The market for lithium carbonate in the Asia Pacific is expanding significantly due to the region's dominance in the production and adoption of electric vehicles (EVs). Leading EV manufacturing nations include China, Japan, and South Korea. EV demand rises, so does the demand for lithium-ion batteries, which primarily use lithium carbonate. The governments in the area encourage the growth of EVs through policies, subsidies, and the creation of EV manufacturing hubs, which speed up the market's development.
Top 10 trends in the Lithium Carbonate Market
- Surging Demand from EV and Battery Sectors
- Shift Toward Battery-Grade Purity
- Geographic Expansion of Production
- Volatility and Strategic Stockpiling
- Vertical Integration by Battery Giants
- Diversification into Non-Battery Applications
- Accelerated Market Entry
- Sustainability and Recycling Initiatives
- Innovation in Extraction Technologies
- Strategic Alliances and M&A Activity
- AI-driven automation and robotics
- Cloud-based and mobile WMS adoption
- IoT-enabled real-time inventory tracking
- Predictive analytics and demand forecasting
- Sustainable and green warehousing solutions
- Flexible and modular warehouse design
- Omnichannel and micro-fulfilment integration
- Blockchain for supply chain transparency
- Immersive staff training (AR/VR)
- Advanced warehouse security and cybersecurity
1. Surging Demand from EV and Battery Sectors
For lithium-ion batteries, lithium carbonate is still an essential raw material. Energy storage systems (ESS) and the use of electric vehicles (EVs) are driving demand.
2. Shift Toward Battery-Grade Purity
High-purity lithium carbonate (≥99.5%) is becoming more and more preferred in order to satisfy demanding battery specifications. Lithium of pharmaceutical grade is also becoming more popular for use in medicine.
3. Geographic Expansion of Production
Significant expansion in the extraction of lithium from brine and spodumene in Australia, Latin America (Argentina, Chile), and emerging markets like India.
4. Vertical Integration by Battery Giants
To stabilise supply and pricing, businesses such as CATL, BYD, and Tesla are acquiring upstream lithium assets.
5. Diversification into Non-Battery Applications
The vast expansion in the production of cement, glass, ceramics, and aluminium. These industries are becoming more and more competitive for the supply of lithium carbonate.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the lithium carbonate market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 15 Companies Leading the Lithium Carbonate Market
- Albemarle Corporation
- Allkem Limited
- Bacanora Lithium Plc
- Ganfeng Lithium Co., Ltd.
- Livent Corporation
- Lithium Americas Corp.
- Mineral Resources Limited
- Nemaska Lithium Inc.
- Orocobre Limited Pty. Ltd.
- Pilbara Minerals Limited
- Piedmont Lithium Inc.
- Qinghai Salt Lake Industry Co., Ltd.
- Shenzhen Chengxin Lithium Group Co., Ltd.
- Sociedad Química y Minera de Chile S.A. (SQM S.A.)
- Tianqi Lithium Corporation
1. Albemarle Corporation
Headquarters: North Carolina, USA
In Chile, the company recently opened its La Negra III chemical conversion plant, doubling its capacity to produce lithium while putting a strong emphasis on sustainability by using less fresh water. A comprehensive lithium ecosystem hub, Albemarle's Kings Mountain site in North Carolina, produces lithium hydroxide, lithium carbonate, and other battery-grade lithium products. Production at the historic Kings Mountain mine is currently scheduled to resume to further support supply. By 2025, the company wants to expand its Silver Peak facility in Nevada's capacity to produce 10,000 tons of lithium carbonate annually, up from the current 5,000 tons. Additionally, it is developing new lithium conversion facilities in China and Australia.
2. Allkem Limited
Headquarters: Brisbane, Queensland, Australia
One of the top manufacturers of lithium chemicals worldwide, Allkem Limited, is primarily focused on adding a nameplate capacity of 25,000 tons per annum (tpa) of technical-grade lithium carbonate. Its flagship asset with the Olaroz Lithium Facility in Argentina, has achieved first production for Stage 2. Further, the total production capacity of Allkem at Olaroz, combined with Stage 1, is anticipated to be around 42,500 tpa. The industry is also working on a project in Argentina called Sal de Vida, which is anticipated to yield 15,000 tpa of lithium carbonate suitable for batteries. Moreover, strategic alliances and investments, such as the joint venture for the Naraha lithium hydroxide plant in Japan, are part of Allkem's expansion strategy. By 2028, the company wants to increase its capacity significantly to produce about 179,000 tons of lithium carbonate equivalent (LCE).
3. Bacanora Lithium Plc
Headquarters: London Riverside, England
The primary goal of Bacanora Lithium Plc, a lithium exploration and development firm, is to produce battery-grade lithium carbonate through its flagship Sonora Lithium Project in Mexico. The project uses traditional processing techniques and open-pit mining, and feasibility studies show that the economics of the project are sound. Production of lithium carbonate is expected to reach about 17,500 tons annually in the first stage and 35,000 tons in the second. Leading lithium manufacturers like Ganfeng Lithium, which has a sizeable investment and long-term offtake agreements for the lithium produced, are strategic partners of Bacanora.
4. Ganfeng Lithium Co., Ltd.
Headquarters: Jiangxi Province, China
One of the biggest manufacturers of lithium compounds worldwide, including lithium carbonate, an essential component of the supply chain for lithium-ion batteries, is Ganfeng Lithium Co., Ltd. A new energy material project in Fengcheng, China, is one of the company's ongoing expansions, and it currently has an effective lithium carbonate production capacity of about 28,000 tons annually. With major investments in Argentina, Mali, Australia, and China, Ganfeng's global operations span several continents and take advantage of lithium resources such as lepidolite, brine, and spodumene. In order to increase production, the company has established strategic joint ventures and uses cutting-edge extraction and processing technologies. By 2030, it hopes to produce 600,000 tons of lithium carbonate equivalent (LCE).
5. Livent Corporation
Headquarters: Philadelphia, United States
Some of the top suppliers of lithium compounds worldwide are Livent Corporation. Lithium carbonate is a vital raw material in the rapidly expanding market for lithium-ion batteries used in energy storage and electric vehicles. The business uses patented direct lithium extraction (DLE) technology to produce high-quality, low-impurity lithium carbonate with increased sustainability and efficiency at its sizable lithium brine extraction facility in Salar del Hombre Muerto, Argentina. To boost its capacity to produce lithium carbonate to about 100,000 metric tons annually by 2030, Livent is implementing a multi-phase expansion plan. Additionally, it has refinery facilities in China, Canada, and the United States, ensuring a global supply of battery-grade products.
Are you ready to discover more about the Lithium Carbonate market?
The report provides an in-depth analysis of the leading companies operating in the global lithium carbonate market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Albemarle Corporation
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Allkem Limited
- Bacanora Lithium Plc
- Ganfeng Lithium Co., Ltd.
- Livent Corporation
- Lithium Americas Corp.
- Mineral Resources Limited
- Nemaska Lithium Inc.
- Orocobre Limited Pty. Ltd.
- Pilbara Minerals Limited
- Piedmont Lithium Inc.
- Qinghai Salt Lake Industry Co., Ltd.
- Shenzhen Chengxin Lithium Group Co., Ltd.
- Sociedad Química y Minera de Chile S.A. (SQM S.A.)
- Tianqi Lithium Corporation
- Others.
Conclusion
The worldwide lithium Carbonate Market is experiencing rapid Growth, expected to rise from USD 25.45 Billion in 2024 to USD 120.32 Billion by 2035, showcasing an impressive CAGR of 15.17%. This remarkable growth is predominantly fueled by the unquenchable demand from the Electric Vehicle (EV) and Energy Storage System (ESS) industries, which depend on lithium carbonate as an essential raw material for high-performance lithium-ion batteries. Significant market trends encompass the essential transition to high purity for battery-grade materials, the geographic growth of production in Latin America and Australia, and the movement toward vertical integration by leading battery producers. Although the Asia-Pacific area is expected to create the greatest demand due to its leadership in EV production (China, Japan, South Korea), Europe is anticipated to expand the quickest, driven by bold renewable energy infrastructure and decarbonization efforts. The market is fiercely competitive and led by major global mining and chemical processing companies like Albemarle, Ganfeng Lithium, Livent, Allkem, and SQM S.A., which are actively increasing capacity and investing in cutting-edge, sustainable extraction technologies.
Global Aerospace Nanotechnology Market Size to Exceed USD 7.54 Billion by 2033
Global Free Space Optics Communication Market Size to Exceed USD 21.11 Billion by 2033
Global Cerium Oxide Nanoparticles Market Size to worth USD 1663.8 Million by 2033
Global Betavoltaic Device Market Size to worth USD 547.5 Million by 2033
Global Reduced Fat Butter Market Size Insights Forecasts to 2035
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?