Global Lithium Compound Market Report and Forecast 2023-2028

Global Lithium Compound Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global lithium compound market reached a value of 346.04 Thousand Tons in 2022. Aided by the burgeoning demands in the energy storage sector and robust growth in electric vehicle (EV) adoption, the market is projected to further grow at a CAGR of 9.21% between 2023 and 2028 to reach a value of 585.94 Thousand Tons by 2028.

Lithium compounds, consisting of vital substances like lithium carbonate, lithium hydroxide, and lithium chloride, play an instrumental role in the modern energy landscape. Notably, these compounds find immense use in crafting high-capacity lithium-ion batteries, vital for powering EVs, renewable energy storage systems, and a plethora of consumer electronics. Beyond the energy sector, lithium also finds applications in pharmaceuticals, treating conditions such as bipolar disorder, showcasing its versatility.

As per the lithium compound market analysis, the market's trajectory is undeniably tied to the burgeoning EV market. As nations globally pivot to sustainable energy and eco-friendly transport options, the demand for reliable, high-capacity batteries has surged. With the global focus sharpening on carbon neutrality and sustainable energy, the role of lithium-ion batteries, especially in EVs and renewable energy storage, becomes paramount. Their superior energy storage capabilities make them indispensable in this transition.

An increased consciousness regarding mental health has also elevated the lithium compound market growth in the pharmaceutical industry. Lithium carbonate, for instance, is a front-runner in the treatment of bipolar disorder. The growing understanding and destigmatisation of mental health issues ensure a steady demand in this domain. Lithium's therapeutic properties in treating mood disorders have been well-documented, ensuring its constant demand in the pharmaceutical sector as mental health gains societal prominence.

Furthermore, the diversifying applications of lithium compounds in various sectors augment lithium compound market demand. In industries like aerospace, lithium's ability to form lightweight, high-strength alloys makes it invaluable. Similarly, its role in producing efficient lubricants and greases underscores its relevance across sectors.

The digital age relies heavily on portable electronics like smartphones, tablets, and laptops. All these devices predominantly use lithium-ion batteries, underscoring the compound's ubiquity. From aerospace to manufacturing, lithium compounds' utility in creating alloys, lubricants, and greases is further increasing value of the lithium compound market size.

Market Segmentation

The market can be divided based on type, end use, and region.

Market Breakup by Type
  • Lithium Carbonate
  • Lithium Hydroxide
  • Lithium Concentrate
  • Lithium Metal
  • Lithium Chloride
  • Butyllithium
  • Others
Market Breakup by End Use
  • Batteries
  • Glass and Glass Ceramics
  • Automotive Parts
  • Greases
  • Metallurgy
  • Polymer
  • Air Treatment
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global lithium compound market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Albemarle Corporation
  • SQM S.A.
  • FMC Corporation
  • Others
About Us

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.

*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Lithium Compound Market Analysis
8.1 Key Industry Highlights
8.2 Global Lithium Compound Historical Market (2018-2022)
8.3 Global Lithium Compound Market Forecast (2023-2028)
8.4 Global Lithium Compound Market by Type
8.4.1 Lithium Carbonate
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Lithium Hydroxide
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Lithium Concentrate
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Lithium Metal
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Lithium Chloride
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Butyllithium
8.4.6.1 Historical Trend (2018-2022)
8.4.6.2 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Lithium Compound Market by End Use
8.5.1 Batteries
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Glass and Glass Ceramics
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Automotive Parts
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Greases
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Metallurgy
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Polymer
8.5.6.1 Historical Trend (2018-2022)
8.5.6.2 Forecast Trend (2023-2028)
8.5.7 Air Treatment
8.5.7.1 Historical Trend (2018-2022)
8.5.7.2 Forecast Trend (2023-2028)
8.5.8 Others
8.6 Global Lithium Compound Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America Lithium Compound Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Lithium Compound Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Lithium Compound Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Lithium Compound Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Lithium Compound Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
16.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
16.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
16.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
16.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
16.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
17 Manufacturing Process
17.1 Overview
17.2 Detailed Process Flow
17.3 Operation Involved
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Albemarle Corporation
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 SQM S.A.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 FMC Corporation
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.3.4 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Lithium Compound Market: Key Industry Highlights, 2018 and 2028
2. Global Lithium Compound Historical Market: Breakup by Type (Tons), 2018-2022
3. Global Lithium Compound Market Forecast: Breakup by Type (Tons), 2023-2028
4. Global Lithium Compound Historical Market: Breakup by End Use (Tons), 2018-2022
5. Global Lithium Compound Market Forecast: Breakup by End Use (Tons), 2023-2028
6. Global Lithium Compound Historical Market: Breakup by Region (Tons), 2018-2022
7. Global Lithium Compound Market Forecast: Breakup by Region (Tons), 2023-2028
8. North America Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2022
9. North America Lithium Compound Market Forecast: Breakup by Country (Tons), 2023-2028
10. Europe Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2022
11. Europe Lithium Compound Market Forecast: Breakup by Country (Tons), 2023-2028
12. Asia Pacific Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2022
13. Asia Pacific Lithium Compound Market Forecast: Breakup by Country (Tons), 2023-2028
14. Latin America Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2022
15. Latin America Lithium Compound Market Forecast: Breakup by Country (Tons), 2023-2028
16. Middle East and Africa Lithium Compound Historical Market: Breakup by Country (Tons), 2018-2022
17. Middle East and Africa Lithium Compound Market Forecast: Breakup by Country (Tons), 2023-2028
18. North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
19. Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
20. Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
21. Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
22. Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
23. Global Lithium Compound Market Structure

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings