How big is the lithium carbonate market | Size, Share & Growth Outlook 2025

Code: MTA7832 Publication Date: Aug 2025

How big is the Lithium Carbonate Market?

According to 6Wresearch internal database and industry insights, the Global Lithium Carbonate Market was valued at USD 4.6 Billion in 2024 and is expected to reach USD 10.9 Billion by 2031, growing at a compound annual growth rate of 6.49% during the forecast period of 2025 to 2031.

The market is expanding on the back of surging EV cathode demand (especially LFP), capacity additions across brine and hard-rock assets, and supportive critical-minerals policies.

Key Growth Drivers of the Lithium Carbonate Market

  • Acceleration of EV adoption driving cathode-grade lithium carbonate consumption
  • Expansion of brine and hard-rock projects in Latin America and Australia
  • Government incentives and critical-minerals strategies supporting upstream investment
  • Advances in refining, conversion efficiency, and process yields lowering unit costs
  • Growing role of recycling and black-mass processing to supplement primary supply

Lithium Carbonate Market Trends

Lithium carbonate market is witnessing trends like rising LFP in EV and stationary storage applications, heightened price volatility with greater reliance on spot market indexation, and a notable shift towards vertical integration by both OEMs and cell manufacturers to secure supply. Experience in scaling lithium carbonate or hydroxide (or direct lithium extraction pilot projects) is expected to tighten recovery rates out of brine, and increase traceability, sustainability reporting, and life-cycle carbon foot printing of the supply chain.

Emerging Developments in the Lithium Carbonate Market

Lithium carbonate market is experiencing developments such as the commercialization of advanced DLE technologies for brines, adoption of low-carbon production methods powered by renewable energy, and the discovery of new economically viable deposits across Africa and Canada. Price risk management techniques, long-term offtake agreements and hedging are increasingly applied to counterbalance such market fluctuations. An enhancement of conversion flexibility between the carbonate and hydroxide is also on focus to keep pace with the changing cathode chemistry.

List of Leading Companies in the Lithium Carbonate Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. Albemarle Corporation

Company NameAlbemarle Corporation
Established Year1994
HeadquartersCharlotte, North Carolina, USA
Official WebsiteClick Here

Albemarle is a global leader in lithium production, supplying high-purity lithium carbonate for battery manufacturing, energy storage systems, and diverse industrial applications worldwide.

2. Ganfeng Lithium Co., Ltd.

Company NameGanfeng Lithium Co., Ltd.
Established Year2000
HeadquartersXinyu, Jiangxi, China
Official WebsiteClick Here

Ganfeng Lithium produces battery-grade lithium carbonate for electric vehicles, energy storage, and electronics, with vertically integrated operations spanning mining, refining, and recycling technologies.

3. SQM (Sociedad Química y Minera de Chile S.A.)

Company NameSQM (Sociedad Química y Minera de Chile S.A.)
Established Year1968
HeadquartersSantiago, Chile
Official WebsiteClick Here

SQM is a top supplier of lithium carbonate from brine sources, supporting electric mobility, energy storage, and specialty chemical sectors with sustainable production practices.

4. Tianqi Lithium Corporation

Company NameTianqi Lithium Corporation
Established Year1995
HeadquartersChengdu, Sichuan, China
Official WebsiteClick Here

Tianqi Lithium offers high-grade lithium carbonate products for lithium-ion batteries, glass, ceramics, and industrial uses, with strong market presence in Asia-Pacific and beyond.

5. Livent Corporation

Company NameLivent Corporation
Established Year2018
HeadquartersPhiladelphia, Pennsylvania, USA
Official WebsiteClick Here

Livent specializes in performance lithium compounds, producing high-purity lithium carbonate for advanced batteries, polymers, and specialty applications in sustainable energy markets globally.

6. Orocobre Limited (Allkem Limited)

Company NameOrocobre Limited (Allkem Limited)
Established Year2007
HeadquartersBrisbane, Australia
Official WebsiteClick Here

Allkem produces lithium carbonate from brine operations in Argentina, serving electric vehicle, renewable energy, and specialty industrial markets with a focus on environmental sustainability.

7. Mineral Resources Limited

Company NameMineral Resources Limited
Established Year1993
HeadquartersPerth, Western Australia, Australia
Official WebsiteClick Here

Mineral Resources engages in integrated lithium operations, producing battery-grade lithium carbonate for global EV supply chains, renewable power systems, and industrial chemical manufacturing.

8. Nemaska Lithium Inc.

Company NameNemaska Lithium Inc.
Established Year2008
HeadquartersQuebec City, Quebec, Canada
Official WebsiteClick Here

Nemaska Lithium develops high-purity lithium carbonate from spodumene ore, targeting electric vehicle, energy storage, and specialty chemical industries with eco-friendly production processes.

9. Piedmont Lithium Inc.

Company NamePiedmont Lithium Inc.
Established Year2016
HeadquartersBelmont, North Carolina, USA
Official WebsiteClick Here

Piedmont Lithium aims to be a strategic supplier of battery-grade lithium carbonate for North America’s EV and energy storage markets through sustainable mining operations.

10. Sigma Lithium Corporation

Company NameSigma Lithium Corporation
Established Year2012
HeadquartersVancouver, British Columbia, Canada
Official WebsiteClick Here

Sigma Lithium produces environmentally responsible lithium carbonate from hard rock deposits in Brazil, supplying the global electric mobility and renewable energy storage industries.

How big is the lithium carbonate market : FAQs

It was valued at USD 4.6 Billion in 2024 and is projected to reach USD 10.9 Billion by 2031.
The lithium carbonate market is expected to grow at a CAGR of 6.49% from 2025 to 2031.
EV cathode demand (notably LFP), new brine/hard-rock projects, policy support, and efficiency gains in refining and conversion.
Battery-grade lithium carbonate for LFP and mid-nickel cathodes; growing interest in high-purity, low-carbon and recycled grades.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
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