PUBLISHER: Grand View Research | PRODUCT CODE: 1772622
PUBLISHER: Grand View Research | PRODUCT CODE: 1772622
The global lithium chemicals market size is anticipated to reach USD 95.12 billion by 2030 and is anticipated to expand at a CAGR of 19.4% during the forecast period, according to a new report by Grand View Research, Inc. The market is experiencing robust growth, primarily driven by surging demand for lithium-ion batteries in electric vehicles, energy storage systems, and consumer electronics. Government policies promoting electrification, coupled with rising investments in battery manufacturing and raw material refining, are accelerating market expansion.
The Carbonate segment dominated the market with a revenue share of 60.7% in 2024. This growth is primarily driven by its critical role in lithium-ion batteries used in EVs, electronics, and energy storage. Lithium carbonate dominates due to its high energy density and electrochemical properties.
The Industrial segment is expected to grow fastest with a CAGR of 19.8% from 2025-2030 during the forecast period. This surge is primarily driven by rising demand in energy storage, aerospace, and manufacturing. Growth is fueled by the shift to renewables and advances in battery technologies, including solid-state variants.
Asia Pacific led with a 60.1% revenue share in 2024, driven by strong EV and energy storage demand. China, Japan, and South Korea dominate due to aggressive EV targets, major battery production, and supportive clean energy policies.
Some of the prominent players in the carbon monoxide market include Infinitylithium, ProChem, Inc. International, Arcadium Lithium, Talison Lithium Pty Ltd, SICHUAN BRIVO LITHIUM MATERIALS CO., LTD., Neometals Ltd, ANDRITZ Sovema S.p.A., Ganfeng Lithium Co., Ltd., Critical Elements Lithium Corporation, Altura Mining, Lithium Americas Corp., The Pallinghurst Group, SQM S.A., Albemarle Corporation, Mody Chemi-Pharma Limited, Pilbara Minerals Limited, ProChem, Inc. International, Arcadium Lithium, Talison Lithium Pty Ltd, SICHUAN BRIVO LITHIUM MATERIALS CO., LTD., Neometals Ltd, ANDRITZ Sovema S.p.A., Ganfeng Lithium Co., Ltd., Critical Elements Lithium Corporation, Altura Mining, Lithium Americas Corp., The Pallinghurst Group, SQM S.A., Albemarle Corporation, Mody Chemi-Pharma Limited, Pilbara Minerals Limited.