Global Lithium Hydroxide Market Size To Exceed USD 102.2 Billion by 2033: Market Growth Report

Global Lithium Hydroxide Market Size To Exceed USD 102.2 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Lithium Hydroxide Market Size is Expected to Grow from USD 23.8 Billion in 2023 to USD 102.2 Billion by 2033, at a CAGR of 15.69% during the forecast period 2023-2033.                                    

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Lithium Hydroxide Market Size, Share, and COVID-19 Impact Analysis, By Application (Batteries, Lubricating Grease, Purification, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.             

The lithium hydroxide market refers to the global industry involved in the production, distribution, and consumption of lithium hydroxide (LiOH), an inorganic compound primarily used in the manufacture of lithium-ion batteries. These batteries are widely used in electric vehicles (EVs), portable electronics, and energy storage systems. The market also includes industrial applications such as ceramics, lubricating greases, and alkaline batteries. Moreover, the lithium hydroxide market is driven by rising demand for lithium-ion batteries in electric vehicles, renewable energy storage, and consumer electronics. Government incentives for EV adoption, advancements in battery technologies, and increasing focus on decarbonization and sustainable energy solutions further propel market growth and investment in lithium hydroxide production capacity. However, the lithium hydroxide market faces restraints from limited raw material availability, high production costs, environmental concerns, and supply chain disruptions, which challenge consistent output and hinder large-scale, cost-effective expansion.

The batteries segment accounted for the largest share of the global lithium hydroxide market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.   

Based on application, the global lithium hydroxide market is divided into batteries, lubricating grease, purification, and others. Among these, the batteries segment accounted for the largest share of the worldwide lithium hydroxide market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is driven by surging demand for lithium-ion batteries in electric vehicles, portable electronics, and energy storage systems. The shift toward cleaner energy and the growing EV market makes batteries the dominant and fastest-growing application segment for lithium hydroxide.   

Asia Pacific is projected to hold the largest share of the global lithium hydroxide market over the projected period.   

Asia Pacific is projected to hold the largest share of the global lithium hydroxide market over the projected period.  This is primarily due to the dominance of China in battery manufacturing and electric vehicle production. The region benefits from abundant raw material processing capacity, strong government support for clean energy, and the presence of major battery and EV manufacturers driving demand.

North America is expected to grow at the fastest CAGR of the global lithium hydroxide market during the projected period. This is driven by increasing electric vehicle adoption, investments in domestic battery manufacturing, and efforts to reduce reliance on foreign supply chains. Government incentives and initiatives to develop a local lithium supply and processing infrastructure further support regional market growth.

Company Profiling 

Major vendors in the global lithium hydroxide market are Albemarle Corporation, Ganfeng Lithium Group Co., Ltd, Tianqi Lithium, Livent, SQM S.A., Nemaska Lithium, Shangai China Lithium Industrial Co. Ltd, SICHUAN BRIVO LITHIUM MATERIALS CO., LTD., LevertonHELM Limited, KANTO KAGAKU, Fitz Chem LLC (Nagase America LLC)., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In May 2023, Nemaska Lithium partnered with Ford to supply lithium hydroxide manufactured at the company's production plant in Bécancour. Under this partnership, Nemaska Lithium would supply up to 13,000 tons of lithium hydroxide to Ford for the production of electric vehicle batteries.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global lithium hydroxide market based on the below-mentioned segments:

Global Lithium Hydroxide Market, By Application

• Batteries
• Lubricating Grease
• Purification
• Others

Global Lithium Hydroxide Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa