Summary

The global lithium carbonate market was valued at $26.7 billion in 2023, and is projected to reach $102.8 billion by 2033, growing at a CAGR of 14.5% from 2024 to 2033.
Introduction
Lithium carbonate (Li₂CO₃) is an inorganic chemical compound, a white solid that is odorless and highly soluble in water. It is a key source of lithium and is produced primarily by processing lithium-containing minerals such as spodumene or lepidolite, or by extracting lithium from brine sources found in salt flats. Lithium-bearing minerals, like spodumene, are mined and then heated to high temperatures to convert the minerals into a form that can be processed into lithium carbonate. This is typically done by a process called "roasting," where the mineral is treated with chemicals like sulfuric acid to extract lithium in a soluble form. In brine-based extraction, lithium-rich saltwater from underground reserves, such as those in the Atacama Desert in Chile or the Lithium Triangle in Argentina and Bolivia, is pumped to the surface and allowed to evaporate in large ponds. The lithium concentrate is then further processed to yield lithium carbonate.
Lithium carbonate is essential in the production of cathodes for lithium-ion batteries. It serves as a key precursor in manufacturing lithium cobalt oxide (LiCoO₂) and lithium iron phosphate (LiFePO₄), two widely used cathode materials in battery cells. The growing adoption of electric vehicles (EVs) and the expansion of renewable energy storage systems have significantly increased the demand for lithium carbonate, which is a key component in lithium[1]ion technology. In the pharmaceutical industry, lithium carbonate is used primarily in the treatment of psychiatric disorders, particularly bipolar disorder and depression. Lithium salts, including lithium carbonate, have been used for over 50 years as mood stabilizers. The compound helps to regulate mood swings and reduce the frequency of manic and depressive episodes in individuals with bipolar disorder. Lithium carbonate is typically administered in tablet form under strict medical supervision, as it requires careful dosing to avoid toxicity.
Market Dynamics
Rising demand for electric vehicles is expected to drive the growth of the market. Electric vehicles (EVs) are important in lowering greenhouse gas emissions and addressing climate change. Governments worldwide are enacting regulations and offering incentives to promote EV adoption, further driving their popularity. The demand for lithium-ion batteries, which power most EVs, is rising due to the essential role of lithium carbonate in their production. Lithium carbonate is crucial for creating high-energy density cathodes that ensure EVs meet consumer expectations for range and efficiency. With global efforts to reduce carbon emissions, governments in Europe, China, and other regions, are setting ambitious targets to phase out internal combustion engine vehicles and incentivize EV use. In 2025, companies like QuantumScape and Toyota are advancing solid-state batteries, promising higher energy density and faster charging times for future hybrid models.
However, environmental concerns is expected to hamper the growth of market. The environmental impact of lithium extraction has become a significant concern, particularly as the demand for lithium increases in response to the growth of electric vehicles (EVs), renewable energy storage, and consumer electronics. In the case of salt lake mining, lithium is typically extracted through the evaporation of brine from underground saltwater deposits. This process can take months, during which large amounts of water is evaporated, leaving behind concentrated chemicals. The environmental concerns with this method are primarily centered around water usage. Lithium extraction from salt lakes requires significant amounts of water, which can have adverse effects on local ecosystems, especially in regions that are already water-stressed, such as parts of Chile, Argentina, and Bolivia, known for their lithium-rich salt flats. Over-extraction of water from these brines can lead to the depletion of nearby water sources, threatening local agriculture, wildlife, and indigenous communities who depend on this water for survival.
Segments Overview
The lithium carbonate market is segmented into grade, application, and region. On the basis of grade, the market is divided into Battery Grade, Technical Grade, and Industrial Grade. On the basis of application, the lithium carbonate market is categorized into electric vehicles, pharmaceutical, cement manufacturing, glass & ceramics, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of grade, battery grade dominated the nano fertilizers market in 2023. The production of battery-grade lithium carbonate requires stringent purification processes to remove impurities such as sodium, potassium, and magnesium, which can negatively impact battery performance. Typically, lithium carbonate is obtained from lithium brines or hard rock spodumene through extraction and refining processes. High-purity lithium carbonate (99.5% or higher) is essential to ensure optimal electrochemical performance, as impurities can cause capacity fading and lower battery efficiency. Manufacturers focus on advanced refining techniques, including ion exchange and recrystallization, to meet the strict quality standards required by battery manufacturers.
On the basis of application, electric vehicles dominated the market in 2023. The production and processing of lithium carbonate play a vital role in the EV supply chain. Lithium extraction from brine sources, predominantly in South America, and spodumene ore from Australia, feeds the battery industry. However, refining capacity constraints, geopolitical influences, and environmental concerns pose challenges. Researchers are exploring alternative sources, such as lithium extraction from geothermal brines and recycling lithium carbonate from end-of-life batteries, to create a more sustainable supply chain.
Competitive Analysis
The key players operating in the lithium carbonate market include Ganfeng Lithium Group Co., Ltd, Albemarle Corporation, SQM S.A., Tianqi Lithium, LevertonHELM Limited, Camber Pharmaceuticals, Inc, Central Drug House, Vishnupriya Chemicals Pvt. Ltd, PACIFIC ORGANICS PVT. LTD, and Merck KGaA.
Key Benefits For Stakeholders
●This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lithium carbonate market analysis from 2023 to 2033 to identify the prevailing lithium carbonate market opportunities.
●The market research is offered along with information related to key drivers, restraints, and opportunities.
●Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
●In-depth analysis of the lithium carbonate market segmentation assists to determine the prevailing market opportunities.
●Major countries in each region are mapped according to their revenue contribution to the global market.
●Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
●The report includes the analysis of the regional as well as global lithium carbonate market trends, key players, market segments, application areas, and market growth strategies.

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● Analysis of raw material in a product (by %)
● Investment Opportunities
● Upcoming/New Entrant by Regions
● Distributor margin Analysis
● Market share analysis of players by products/segments
● Patient/epidemiology data at country, region, global level
● Regulatory Guidelines
● Additional country or region analysis- market size and forecast
● Key player details (including location, contact details, supplier/vendor network etc. in excel format)
● List of customers/consumers/raw material suppliers- value chain analysis
● Market share analysis of players at global/region/country level
● SWOT Analysis
● Volume Market Size and Forecast
Key Market Segments
By Grade
● Battery Grade
● Technical Grade
● Industrial Grade
By Application
● Electric Vehicles
● Pharmaceutical
● Cement Manufacturing
● Glass and Ceramics
● Others
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ Germany
○ France
○ UK
○ Spain
○ Italy
○ Rest of Europe
● Asia-Pacific
○ China
○ India
○ Japan
○ South Korea
○ Australia
○ Rest of Asia-Pacific
● LAMEA
○ Brazil
○ South Africa
○ Saudi Arabia
○ Rest of LAMEA
● Key Market Players
○ SQM S.A.
○ Albemarle Corporation
○ Central Drug House
○ Merck KGaA
○ LevertonHELM Limited
○ Camber Pharmaceuticals, Inc.
○ PACIFIC ORGANICS PVT. LTD.
○ Vishnupriya Chemicals Pvt. Ltd.
○ Ganfeng Lithium Group Co., Ltd
○ Tianqi Lithium Corporation

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Moderate bargaining power of suppliers
3.3.2. Moderate threat of new entrants
3.3.3. Moderate threat of substitutes
3.3.4. Moderate intensity of rivalry
3.3.5. Moderate bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Rising Demand for Electric Vehicles
3.4.1.2. Growth in renewable energy storage
3.4.2. Restraints
3.4.2.1. Competition from alternative materials
3.4.3. Opportunities
3.4.3.1. Advancements in lithium extraction technologies
3.5. Value Chain Analysis
3.6. Regulatory Guidelines
CHAPTER 4: LITHIUM CARBONATE MARKET, BY GRADE
4.1. Overview
4.1.1. Market size and forecast
4.2. Battery Grade
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Technical Grade
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Industrial Grade
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
CHAPTER 5: LITHIUM CARBONATE MARKET, BY APPLICATION
5.1. Overview
5.1.1. Market size and forecast
5.2. Electric Vehicles
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Pharmaceutical
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Cement Manufacturing
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Glass and Ceramics
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
5.6. Others
5.6.1. Key market trends, growth factors and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market share analysis by country
CHAPTER 6: LITHIUM CARBONATE MARKET, BY REGION
6.1. Overview
6.1.1. Market size and forecast By Region
6.2. North America
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by Grade
6.2.3. Market size and forecast, by Application
6.2.4. Market size and forecast, by country
6.2.4.1. U.S.
6.2.4.1.1. Market size and forecast, by Grade
6.2.4.1.2. Market size and forecast, by Application
6.2.4.2. Canada
6.2.4.2.1. Market size and forecast, by Grade
6.2.4.2.2. Market size and forecast, by Application
6.2.4.3. Mexico
6.2.4.3.1. Market size and forecast, by Grade
6.2.4.3.2. Market size and forecast, by Application
6.3. Europe
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by Grade
6.3.3. Market size and forecast, by Application
6.3.4. Market size and forecast, by country
6.3.4.1. Germany
6.3.4.1.1. Market size and forecast, by Grade
6.3.4.1.2. Market size and forecast, by Application
6.3.4.2. France
6.3.4.2.1. Market size and forecast, by Grade
6.3.4.2.2. Market size and forecast, by Application
6.3.4.3. UK
6.3.4.3.1. Market size and forecast, by Grade
6.3.4.3.2. Market size and forecast, by Application
6.3.4.4. Spain
6.3.4.4.1. Market size and forecast, by Grade
6.3.4.4.2. Market size and forecast, by Application
6.3.4.5. Italy
6.3.4.5.1. Market size and forecast, by Grade
6.3.4.5.2. Market size and forecast, by Application
6.3.4.6. Rest of Europe
6.3.4.6.1. Market size and forecast, by Grade
6.3.4.6.2. Market size and forecast, by Application
6.4. Asia-Pacific
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by Grade
6.4.3. Market size and forecast, by Application
6.4.4. Market size and forecast, by country
6.4.4.1. China
6.4.4.1.1. Market size and forecast, by Grade
6.4.4.1.2. Market size and forecast, by Application
6.4.4.2. India
6.4.4.2.1. Market size and forecast, by Grade
6.4.4.2.2. Market size and forecast, by Application
6.4.4.3. Japan
6.4.4.3.1. Market size and forecast, by Grade
6.4.4.3.2. Market size and forecast, by Application
6.4.4.4. South Korea
6.4.4.4.1. Market size and forecast, by Grade
6.4.4.4.2. Market size and forecast, by Application
6.4.4.5. Australia
6.4.4.5.1. Market size and forecast, by Grade
6.4.4.5.2. Market size and forecast, by Application
6.4.4.6. Rest of Asia-Pacific
6.4.4.6.1. Market size and forecast, by Grade
6.4.4.6.2. Market size and forecast, by Application
6.5. LAMEA
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by Grade
6.5.3. Market size and forecast, by Application
6.5.4. Market size and forecast, by country
6.5.4.1. Brazil
6.5.4.1.1. Market size and forecast, by Grade
6.5.4.1.2. Market size and forecast, by Application
6.5.4.2. South Africa
6.5.4.2.1. Market size and forecast, by Grade
6.5.4.2.2. Market size and forecast, by Application
6.5.4.3. Saudi Arabia
6.5.4.3.1. Market size and forecast, by Grade
6.5.4.3.2. Market size and forecast, by Application
6.5.4.4. Rest of LAMEA
6.5.4.4.1. Market size and forecast, by Grade
6.5.4.4.2. Market size and forecast, by Application
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product mapping of top 10 player
7.4. Competitive dashboard
7.5. Competitive heatmap
7.6. Top player positioning, 2023
CHAPTER 8: COMPANY PROFILES
8.1. Ganfeng Lithium Group Co., Ltd
8.1.1. Company overview
8.1.2. Key executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.1.6. Business performance
8.1.7. Key strategic moves and developments
8.2. Albemarle Corporation
8.2.1. Company overview
8.2.2. Key executives
8.2.3. Company snapshot
8.2.4. Operating business segments
8.2.5. Product portfolio
8.2.6. Business performance
8.3. SQM S.A.
8.3.1. Company overview
8.3.2. Key executives
8.3.3. Company snapshot
8.3.4. Operating business segments
8.3.5. Product portfolio
8.3.6. Business performance
8.4. Tianqi Lithium Corporation
8.4.1. Company overview
8.4.2. Key executives
8.4.3. Company snapshot
8.4.4. Operating business segments
8.4.5. Product portfolio
8.4.6. Key strategic moves and developments
8.5. LevertonHELM Limited
8.5.1. Company overview
8.5.2. Key executives
8.5.3. Company snapshot
8.5.4. Operating business segments
8.5.5. Product portfolio
8.6. Camber Pharmaceuticals, Inc.
8.6.1. Company overview
8.6.2. Key executives
8.6.3. Company snapshot
8.6.4. Operating business segments
8.6.5. Product portfolio
8.7. Central Drug House
8.7.1. Company overview
8.7.2. Key executives
8.7.3. Company snapshot
8.7.4. Operating business segments
8.7.5. Product portfolio
8.8. Vishnupriya Chemicals Pvt. Ltd.
8.8.1. Company overview
8.8.2. Key executives
8.8.3. Company snapshot
8.8.4. Operating business segments
8.8.5. Product portfolio
8.9. PACIFIC ORGANICS PVT. LTD.
8.9.1. Company overview
8.9.2. Key executives
8.9.3. Company snapshot
8.9.4. Operating business segments
8.9.5. Product portfolio
8.10. Merck KGaA
8.10.1. Company overview
8.10.2. Key executives
8.10.3. Company snapshot
8.10.4. Operating business segments
8.10.5. Product portfolio
8.10.6. Business performance