Global Lithium Carbonate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Lithium Carbonate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Lithium Carbonate is an inorganic compound with a chemical formula of Li2CO3 and a molecular weight of 73.89. It is a colorless monoclinic crystal, soluble in water, dilute acid, and insoluble in ethanol and acetone. The thermal stability is lower than the carbonates of other elements of the same group in the periodic table. It is not deliquescent in the air and can be obtained by adding sodium carbonate to lithium sulfate or lithium oxide solution. The carbon dioxide can be converted into acid salt by passing carbon dioxide into the aqueous solution, and hydrolysis occurs after boiling.

Market Overview:

The latest research study on the global Lithium Carbonate market finds that the global Lithium Carbonate market reached a value of USD 8623.15 million in 2022. It’s expected that the market will achieve USD 19376.95 million by 2028, exhibiting a CAGR of 14.45% during the forecast period.

There are more and more subdivided applications of lithium carbonate.

One of the growth drivers of the global lithium carbonate market is the increasing use of lithium carbonate in numerous applications. Due to the special properties of lithium and lithium compounds, they are more and more widely used in many areas of the national economy. At present, lithium carbonate has a wide range of applications in many fields such as batteries, glass and ceramics, medical treatment, lubricants, and metallurgy. This is an important factor leading to the rapid growth of demand for lithium carbonate. As manufacturers and R&D institutions increase their R&D investment in lithium carbonate, there are more and more subdivided applications of lithium carbonate. This is also one of the important factors driving the growth of the lithium carbonate market.

Short-term supply is constrained, and it may be difficult to match demand growth in the long-term.

The global lithium resources are unevenly distributed and the supply pattern is highly concentrated. Although the total global lithium resources are not scarce, they are unevenly distributed. South American salt lakes and Australian lithium mines together account for 65% of the world's proven reserves of lithium resources. The supply pattern of lithium resources is also highly concentrated. In the long run, the uncertainty of supply response is relatively high, and the supply of lithium resources may be difficult to match the demand growth. Solving the supply of lithium carbonate is one of the challenges faced by lithium carbonate manufacturers.

Lithium carbonate is harmful to the human body.

After poisoning by mistake, it mainly damages the gastrointestinal tract, heart, kidney and nervous system. Poisoning manifestations include nausea, vomiting, diarrhea, headache, dizziness, drowsiness, visual disturbance, lips, limbs tremor, convulsions and coma. There are risks and side effects from taking lithium salts. It is known that long-term use of lithium to treat various mental disorders can lead to acquired nephrogenic diabetes insipidus. Lithium poisoning affects the central nervous system and kidney system and can be fatal. This is one of the factors restricting the development of the lithium carbonate industry in the medical industry.

Region Overview:

In 2022, the share of the Lithium Carbonate market in China stood at 42.15%.

Company Overview:

SQM is one of the major players operating in the Lithium Carbonate market, holding a share of 16.52% in 2023.

SQM

Sociedad Química y Minera de Chile (SQM) is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium and industrial chemicals. It is the world’s biggest lithium producer.

Albemarle

Albemarle Corporation is a fine chemical manufacturing company based in Charlotte, North Carolina. It operates 3 divisions: lithium, bromine specialties and catalysts.

Segmentation Overview:

Among different product types, Industrial Grade Lithium Carbonate segment is anticipated to contribute the largest market share in 2028.

Industrial Grade Lithium Carbonate

Industrial Grade Lithium Carbonate is a free-flowing, odorless white powder that guarantees a purity of 99.0 wt% and a relatively small particle size. Industrial-grade products can be used to make glass, frit, other ceramics and various professional applications.

Battery Grade Lithium Carbonate

Battery Grade Lithium Carbonate is a free-flowing, odorless white powder that guarantees 99.5% purity and relatively small particle size. Battery-grade products are high-purity products that can be used as precursors for manufacturing key battery materials. Battery grade lithium carbonate is mainly used to prepare lithium cobalt oxide, lithium manganate, ternary materials and lithium iron phosphate and other lithium-ion battery cathode materials. Compared with industrial grade, battery grade lithium carbonate has higher purity, less impurities and good performance.

Application Overview:

The market's largest segment by application is the segment Batteries, with a market share of 68.25% in 2022.

Key Companies in the global Lithium Carbonate market covered in Chapter 3:

Shenzhen Chengxin Lithium Group Co., Ltd.
Ruifu Lithium
Jiangsu Ronghui General Lithium Co., Ltd. 
Ganfeng Lithium
Livent
SQM
Yahua
Qinghai Salt Lake Fozhao Lake Lithium Co., Ltd.
Orocobre
Tianqi Lithium
Albemarle

In Chapter 4 and Chapter 14.2, on the basis of types, the Lithium Carbonate market from 2018 to 2029 is primarily split into:

Industrial Grade Lithium Carbonate
Battery Grade Lithium Carbonate

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Lithium Carbonate market from 2018 to 2029 covers:

Batteries
Glass and Ceramics
Lubricants
Metallurgy
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)