Lithium Global Market Forecast to 2034, Historical Data of 2019-2024, Supply and Demand, Volume and Value, Manufacturers, Prices, Upstream and Downstream Trends

About the market

• the global appetite for lithium, the lightest of metals, has surged dramatically in recent years
• lithium finds use across a broad spectrum of industries, from ceramics and industrial lubricants to limited applications in the pharmaceutical sector, but demand structure has deeply transformed over the last ten years
• as the world shifts toward renewable energy and works to cut carbon emissions, demand for lithium-ion batteries in electric vehicles (EVs) and energy storage systems soared to unprecedented levels

• at present, roughly 90% of global lithium production is concentrated in just four countries: Australia, Chile, China and Argentina
• Australia leads the world in lithium output (~40% of global production), predominantly through the mining of spodumene ore, while countries like Chile and Argentina utilize their vast continental brine reserves to extract lithium
• despite Australia's prominence as a producer, China plays a major role in processing the bulk of Australia's lithium, transforming it into high-grade materials for batteries, thereby controlling a significant portion of the global lithium supply chain
• currently, lithium carbonate and lithium hydroxide are the two most common lithium compounds, each serving as a critical component in battery manufacturing
• lithium carbonate is the principal compound used in the production of materials for lithium-ion batteries, making it the market leader
• on the other hand, lithium hydroxide is achieving importance as the demand for nickel-manganese-cobalt batteries grows within the electric vehicle sector; these batteries, known for their superior energy density and performance, especially in EVs, have led to a surge in demand for lithium hydroxide
• lithium chloride, although less commonly used, plays a role in specialized applications, such as air treatment and lubricating greases

• demand for lithium is expected to keep rising steadily and will be supported mainly by the electric vehicle (EV) and battery storage sectors; by 2034, batteries are expected to account for 94% of global lithium use, with all other applications making up just 6%
• the global shift toward clean energy, coupled with the rising adoption of electric vehicles (EVs) driven by climate concerns and government incentives, is propelling this growth
• lithium is projected to remain a key driver of the green energy revolution, powering advancements in transportation, energy storage and much more

Key Questions Answered in the Report

• What were the main trends of global lithium market in 2019-2024?
• What was global lithium supply/demand balance in 2019-2024?
• What are the main players in global lithium market?
• What drivers and challenges will determine the development of the global lithium market in the next 5-10 years?
• What will be the possible restrains for global lithium market growth?
• What will be the CAGRs for global lithium supply and demand?
• Are there lithium projects to be completed in 2025-2034?
• And many other

Report Scope

*Please note that "Lithium Market Forecast, Trends, Supply and Demand, Prices, Projects, Manufacturers" is a half ready publication and contents are subject to changes and additions. We have all data necessary for report preparation but it needs to be retrieved from our databases, organized in a report, updated with the latest information and thus the complete study will be presented. This process takes 4-5 business days after the order is placed. Thus, our clients always obtain a revised and updated version of each report. Please note that we do not charge for an updating procedure.