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World - Lithium Carbonate - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

World - Lithium Carbonate - Market Analysis, Forecast, Size, Trends and Insights

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May 14, 2021

Lithium Market Recovers on the Wave of Expanding Electric Vehicle Industry

IndexBox has just published a new report: 'World - Lithium Carbonate - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The pandemic hit the main consuming industry (battery manufacturing) hard; lithium supplies on the global market exceeded demand, resulting in a fall in lithium prices.

In the second half of 2020, lithium demand started to recover, buoyed by strong battery sales. Strategic partnerships shaped during the Covid crisis enabled lithium manufacturers to secure stable product supply chains.

Key Trends and Insights

The second half of 2020 saw an increase in lithium demand, following the growth of the lithium-ion battery market. This sector accounts for 71% of global lithium consumption. After a fall during the pandemic, the market is forecast to expand to 200K tons by 2030 owing to quickly developing electric vehicle and electronic device industries, particularly in China (IndexBox estimates).

Amid the global course towards a circular economy, the number of planned lithium-ion reprocessing facilities is increasing worldwide. Lithium-ion batteries can be recycled, which now especially important against increasingly stringent environmental standards.

Despite the Covid crisis, technological and geological exploration companies secured diverse and reliable supplies of lithium for battery manufacturers, by establishing vertically integrated strategic partnerships and coordinating teamwork.

Overproduction and dwindling demand during the pandemic resulted in a fall in prices on the lithium market. In 2020, spot prices in China fell from the beginning of the year through to November: prices for lithium carbonate fell from $7.1K per ton to $6.2K per ton, from $7.8K per ton to $7Кper ton for lithium hydroxide and from $83Кper ton to $71K per ton for metallic lithium. In the USA, the average annual price of lithium carbonate stood at $8К per ton in 2020, a drop of 37% against 2019 prices.

The development of the electric vehicle industry, particularly in China, and electronic devices should generate further lithium market growth. Despite competition from lithium substitute products (calcium can be used in batteries as an alternative to lithium), the lithium market is set to expand rapidly over the next decade.

Current lithium reserves exceed 21М tons, and continuing geological exploration worldwide implies that the number of lithium deposits detected should increase. Thus, no potential lithium shortages are expected in the next decade. The largest lithium reserves are located in Chile (9.2M tons), Australia (4.7M tons), Argentina (1.9M tons) and China (1.5M tons).

Global Lithium Carbonate Exports

After six years of growth, overseas shipments of lithium carbonates decreased by -12.6% to 110K tons in 2020. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2020: its volume increased at an average annual rate of +4.3% over the last eight years.

In value terms, lithium carbonate exports dropped notably to $769M (IndexBox estimates) in 2020. Overall, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 102% against the previous year.

Chile was the main exporting country with an export of about 68K tons, which reached 62% of total exports. Argentina (23K tons) took the second position in the ranking, distantly followed by China (7.5K tons). All these countries together occupied approx. 28% share of total exports. The following exporters - Belgium (4.5K tons) and Germany (2.1K tons) - together made up 6% of total exports.

China emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.3% from 2012-2020. By contrast, Germany (-1.6%) and Belgium (-2.6%) illustrated a downward trend over the same period.

In value terms, Chile ($478M) remains the largest lithium carbonate supplier worldwide, comprising 62% of global exports. The second position in the ranking was occupied by Argentina ($133M), with a 17% share of global exports. It was followed by China, with a 7.9% share.

Global Lithium Oxide and Hydroxide Exports

In 2020, overseas shipments of lithium oxide and hydroxides decreased by -38.1% to 75K tons for the first time since 2013, thus ending a six-year rising trend. In value terms, lithium oxide and hydroxide exports dropped to $915M in 2020.

China was the main exporting country with an export of around 50K tons, which amounted to 66% of total exports. Chile (9.1K tons) took the second position in the ranking, followed by the U.S. (5.8K tons) and Russia (5.3K tons). All these countries together held approx. 27% share of total exports. Belgium (1.9K tons) held a little share of total exports.

China was also the fastest-growing in terms of lithium oxide and hydroxides exports, with a CAGR of +39.5% from 2012 to 2020. By contrast, the U.S. (-1.8%) illustrated a downward trend over the same period.

In value terms, China ($627M) remains the largest lithium oxide and hydroxide supplier worldwide, comprising 68% of global exports. The second position in the ranking was occupied by Chile ($136M), with a 15% share of global exports. It was followed by the U.S., with a 7.2% share.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global lithium carbonate market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

    + the largest producing countries

    Data coverage:

    • Global market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Global production, split by region and country
    • Global trade (exports and imports)
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. GLOBAL PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. GLOBAL IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. GLOBAL EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • United States
      • China
      • Japan
      • Germany
      • United Kingdom
      • France
      • Brazil
      • Italy
      • Russian Federation
      • India
      • Canada
      • Australia
      • Republic of Korea
      • Spain
      • Mexico
      • Indonesia
      • Netherlands
      • Turkey
      • Saudi Arabia
      • Switzerland
      • Sweden
      • Nigeria
      • Poland
      • Belgium
      • Argentina
      • Norway
      • Austria
      • Thailand
      • United Arab Emirates
      • Colombia
      • Denmark
      • South Africa
      • Malaysia
      • Israel
      • Singapore
      • Egypt
      • Philippines
      • Finland
      • Chile
      • Ireland
      • Pakistan
      • Greece
      • Portugal
      • Kazakhstan
      • Algeria
      • Czech Republic
      • Qatar
      • Peru
      • Romania
      • Vietnam

    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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