Introduction
Lithium carbonate (Li2CO3) is a white, odourless powder composed of lithium, carbon, and oxygen. It is primarily used in the production of lithium-ion batteries and lithium hydroxide. Lithium carbonate is also used in the pharmaceutical industry to treat bipolar disorder and as a stabilizing agent in the manufacturing of ceramics, glass, and other industrial applications.
Lithium carbonate is primarily produced from two raw materials: lithium-rich minerals (such as spodumene and petalite) and lithium-rich brines found in salt flats or underground reservoirs. Lithium is first extracted from these sources via methods like roasting (for minerals) or evaporation and precipitation (for brines). The extracted lithium is then treated with carbon dioxide to produce lithium carbonate, which is refined to achieve the required purity for various industrial applications.
Lithium Carbonate Market Segmentation
The Lithium Carbonate market is segmented by application into Battery Applications (sub-segmented into Electric Vehicles, Energy Storage, and Consumer Electronics & Others) and Non-Battery Applications (sub-segmented into Ceramics & Glass, Lubricating Greases, Aluminium Production, and Pharmaceuticals & Others). In electric vehicles, lithium carbonate is used in battery manufacturing, while in energy storage, it is employed in the production of batteries that store energy for grid management and renewable energy systems like solar and wind. Among its non-battery applications include its use in manufacturing heat-resistant materials like glass ceramics and specialty glass. It is also used in lubricating greases in industrial machinery. During aluminium production, lithium carbonate is employed as a fluxing agent to improve the efficiency of aluminium extraction. Other key uses include its use to treat bipolar disorder, and its use in cement production and air treatment. In terms of end-use, the lithium carbonate market is segmented into Automotive, Energy Storage, Consumer Electronics, Industrial, and Others.
The demand (consumption) split by application and by end-use has been provided for each of the countries/regions considered in the scope in Volume (kilo tons) and Value (USD Million).
Key producing companies in the global Lithium Carbonate market include Albemarle Corporation, SQM (Sociedad Química y Minera de Chile), Ganfeng Lithium, Livent Corporation, Tianqi Lithium, Orocobre Limited, Jiangxi Ganfeng Lithium, Manikaran Power Limited, Korean Zinc, Pilbara Minerals, Galaxy Resources, Lithium Americas Corp., Nemaska Lithium, Zhejiang Huayou Cobalt, and Hochschild Mining.
Recent Developments in the Lithium Carbonate Market
Driver: Rising Demand for Electric Vehicles
The rapid expansion of the EV market is one of the primary drivers for the lithium carbonate market. As more automakers shift towards EV production amid shift towards sustainability and tightening regulations, the need for lithium-ion batteries, which rely on lithium carbonate as a key component, will surge. With increasing EV adoption globally, lithium carbonate volumes over the forecast are poised to increase.
Restraint: High Extraction and Production Costs
The production of lithium carbonate, particularly from lithium-rich brines and hard rock, involves complex and costly extraction processes. Fluctuating raw materials costs, and energy and logistics prices, coupled with environmental concerns surrounding the mining and extraction methods of lithium carbonate, contribute to high production costs. This can act as a significant restraint for the market, limiting the ability of companies to scale production efficiently and making the price of lithium carbonate volatile, especially in regions with limited access to lithium resources.
The Lithium Carbonate report describes the global Lithium Carbonate market, with focus on the country, by application and by end-use. The study provides
Market Data & Forecast (Short-term and Long-term)
Country Summaries & Product Review
Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand (consumption) split by application and by end-use has been provided for each of the countries/regions in Volume (kilo tons) and Value (USD Million).
Note: CAGR will be calculated for Lithium Carbonate by application and by end-use to arrive at the regional/global demand growth for the forecast period (2025 – 2034)
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
The Lithium Carbonate report describes the global Lithium Carbonate market, with focus on the country, by application and by end-use. The study provides
Market Data & Forecast (Short-term and Long-term)
Country Summaries & Product Review
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