From GlobeNewswire: 2025-06-06 09:45:00

The global Lithium Carbonate Market was valued at USD 28.44 billion in 2024, projected to reach USD 86.25 billion by 2032 with a 14.88% CAGR. Demand is driven by electric vehicles and renewable energy storage, prompting producers to expand mining and processing capabilities, supported by government incentives for domestic production.

In 2024, the U.S. held an 80% market share in the Lithium Carbonate Market, valued at USD 8.38 billion. Market expansion is fueled by EV incentives and investments from Albemarle and Livent Corp., boosting domestic lithium output and reducing import dependence for battery manufacturers.

Battery-grade Lithium Carbonate dominated the market in 2024 with a 52.8% share, driven by demand for high-purity lithium-ion batteries. Major players like Albemarle and Livent expanded production facilities, while technological advancements improved extraction processes, meeting the growing demand for premium battery materials.

Li-ion batteries held a 63.5% market share in the Lithium Carbonate Market in 2024, supported by electric vehicle growth and energy storage projects. Tesla, Panasonic, and CATL expanded production capacities, with tax incentives accelerating raw material procurement in the U.S. Glass & Ceramics and pharmaceutical sectors also saw growth due to emerging applications.

North America led the Lithium Carbonate Market in 2024 with a 36.7% market share, driven by a surge in U.S. EV sales and government policies supporting domestic sourcing. Investments from key players expanded battery-grade output, while consumer demand for Lithium Carbonate supplements and renewable energy projects further strengthened market demand.

Asia Pacific emerged as the fastest-growing region in the Lithium Carbonate Market in 2024, with a CAGR of 15.64%. China’s EV policies, Australia’s lithium reserves, and EV subsidies in India and Thailand fueled demand, driving rapid expansions in Lithium Carbonate refining and supply chain integration.



Read more at GlobeNewswire: Lithium Carbonate Market to Reach USD 86.25 billion by 2032