PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786803
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1786803
The lithium chemicals market size is expected to reach USD 191.84 Billion by 2034, according to a new study by Polaris Market Research. The report "Lithium Chemicals Market Size, Share, Trends, & Industry Analysis Report By Product (Carbonate, Hydroxide, Chloride, Metal, Fluoride, and Others), By Application, By End User, and By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The lithium chemicals market is witnessing steady growth as demand for lithium-based compounds are increasing across multiple industries. These chemicals are widely used in making battery, glass, ceramics, lubricants, and pharmaceutical products. The market is further expanding due to the global push toward clean energy and electrification in transportation and grid-level energy storage.
Rising electric vehicle production, supported by government policies and sustainability goals, is creating long-term demand for lithium carbonate and lithium hydroxide. Also, manufacturers are investing in lithium supply chains and refining technologies to meet growing industrial requirements.
Based on product, the carbonate segment dominated the market in 2024, attributed to its widespread use in lithium-ion battery manufacturing, primarily for consumer electronics and electric vehicles (EVs).
In terms of application, the batteries segment dominated the market in 2024. This is due to government-led initiatives that support decarbonization efforts and promote the adoption of cleaner mobility solutions.
In terms of end user, the automotive segment witnessed the largest market share in 2024, due to the increasing market share of electric vehicles, hybrid vehicles, and plug-in hybrids globally.
Asia Pacific accounted for the majority share in the global lithium chemicals market in 2024, driven by large-scale government programs and the presence of abundant lithium resources.
North America held fastest growing market share, driven by favorable regulatory frameworks and a rising shift toward electric mobility.
A few global key market players include Albemarle Corporation, Altura Mining Limited, ANDRITZ SOVEMA S.p.A., Arcadium Lithium plc, Critical Elements Lithium Corporation, Ganfeng Lithium Co., Ltd., Infinity Lithium Corporation Limited, Lithium Americas Corp., Mody Chemi-Pharma Limited, Neometals Ltd, Pilbara Minerals Limited, ProChem, Inc. International, Sichuan Brivo Lithium Materials Co., Ltd., Sociedad Quimica y Minera de Chile S.A. (SQM S.A.), and Talison Lithium Pty Ltd.
Polaris Market Research has segmented the market report on the basis of product, application, end-user, and region:
By Product Outlook (Revenue, USD Billion, 2020-2034)
Carbonate
Hydroxide
Chloride
Metal
Fluoride
Others
By Application Outlook (Revenue, USD Billion, 2020-2034)
Batteries
Glass & Ceramics
Lubricant
Polymers
Metallurgy
Medical
Air Treatment
Others
By End User Outlook (Revenue, USD Billion, 2020-2034)
Automotive
Consumer Electronics
Energy Storage
Others
By Regional Outlook (Revenue, USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Vietnam
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America