From GlobeNewswire: 2025-06-17 09:30:00

The Lithium Compounds Market is set to reach USD 37.54 billion by 2032, with a CAGR of 18.33%. Global lithium production increased from 204,000 t in 2023 to 240,000 t in 2024, driven by demand from EV batteries and personal care. The U.S. market is expected to grow at a CAGR of 19.84%, supported by domestic reserves and EV battery incentives.

In 2024, the U.S. Lithium Compounds market was valued at USD 1.69 billion and is projected to reach USD 7.19 billion by 2032. Companies like Livent and Lithium Americas are scaling up extraction to meet demand. The dominance of lithium carbonate in the market is due to its use in battery cathodes for EVs.

Lithium carbonate holds a 34% market share in the Lithium Compounds Market due to its role in lithium-ion battery cathodes. The increasing demand for battery-grade carbonate has led major producers to expand operations in Argentina and Australia. Li-ion batteries dominated the market in 2024, with a 26% market share, driven by rising EV adoption.

Asia Pacific led the Lithium Compounds Market in 2024, holding a 44% market share, thanks to abundant lithium resources and investments in battery production. Recent developments include Pure Lithium partnering with Kingston Process Metallurgy to scale lithium metal anode production. SNS Insider is a leading market research agency providing insights to navigate changing market conditions.



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