Lithium Carbonate Pricing Report

Lithium Carbonate Prices December 2023

In the USA, the lithium carbonate market remained bearish, and the supply was moderate to high. The demand was soft due to the low downstream demand from the domestic automotive industry. The latest prices of lithium carbonate battery grade DDP USGC settled at 18225 USD/MT in the quarter ending December 2023.

The prices of lithium carbonate in Japan decreased by 6.5%, with a current quarter ending price of 17060 USD/MT of lithium carbonate battery grade CIF Osaka. The market had bearish sentiment, and the inquiries from the ESS market were presumed to remain poor.

In Belgium, the prices of lithium carbonate diminished by 37% compared to the previous quarter and by 76% compared to the same quarter last year. The country experienced a bearish market situation with low demand and moderate supply. The quarter concluded with a price of 18010 USD/MT.

During the fourth quarter od 2023, the lithium carbonate market in Chile demonstrated a bearish trend throughout the period. The lithium carbonate market recorded at 16710 USD/MT in December Q4 2023.

Lithium Carbonate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Lithium Carbonate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of lithium carbonate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing lithium carbonate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Lithium Carbonate Market Analysis

The global lithium carbonate market size reached US$ 5.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 7.5 Billion, at a projected CAGR of 3.60% during 2023-2032.

• The widespread utilization of lithium-ion batteries in the automotive sector is one of the key factors propelling the market growth. This is due to the growing shift towards electric vehicles (EVs) owing to the growing environmental concerns, government support for sustainable transport, and technological developments improving battery performance.
• With the rapidly expanding electronics industry due to increased consumers’ demand for smartphones, laptops, and other portable devices, there is an increased demand for lithium carbonate required for battery manufacturing, which is supporting the market growth.
• Furthermore, the rapid development of the renewable energy sector, noted for expanding solar and wind power plant installations, fuels the need for energy storage, subsequently increasing the demand for lithium carbonate.
• In addition, the growing energy storage market benefiting from grid modernization strategies, renewable energy integration, and energy goals access boosts the market growth.
• Furthermore, the rising consumers end use industry have surged the demand for storage systems to balance the energy consumption and increase grid stability, which is providing a thrust to the market growth.
• The impact of government subsidies, incentives, and legislation aimed at promoting the use of clean energy and electromobility is also notable factor supporting the market growth.
• Additional factors include advancements in lithium extraction, technology advancements, and the rise of investments in lithium mining projects are stimulating the market growth.
• Apart from this, the expansion of direct lithium extraction technologies revolutionizes the way lithium is produced, further creating a pathway to environmentally friendly sources.
• Moreover, the burgeoning research and development (R&D) focus on batteries performance enhancement and durability and safety are factors facilitating the market growth.
• The rapid enlarging of the electric vehicles market in developing countries that are supported with government incentives, and infrastructure advancements are other factors that cultivate market expansion.
• Other factors, such as strategic business expansion, partnership and acquisition strategies by key players, a focus on sustainability initiatives, and consumer ethical lithium consumption are impacting the market expansion.

Lithium Carbonate News

The report covers the latest developments, updates, and trends impacting the global lithium carbonate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in lithium carbonate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the lithium carbonate industry:

• In 2022, Tianqi Lithium Corporation announced plans to expand its lithium carbonate production capacity at its Kwinana Lithium Hydroxide Plant in Western Australia. The expansion aims to meet the increasing demand for lithium products, particularly in the electric vehicle market.
• In 2023, Albemarle Corp announced the expansion of its lithium operations in Chile's Atacama salt flat as early as 2028 with direct lithium extraction (DLE) technology under its current government contract, Ignacio Mehech.

Product Description

Lithium carbonate Li2CO3, a key component in the production of lithium-ion batteries, serves as a critical enabler for various industries, particularly in the realm of energy storage and electric mobility. With its high energy density and lightweight properties, lithium carbonate facilitates the development of compact and efficient lithium-ion batteries, making it an indispensable resource for the rapidly expanding electric vehicle market. These batteries not only power electric cars but also find applications in hybrid vehicles, buses, and even aircraft, contributing significantly to reducing greenhouse gas emissions and mitigating environmental impact.

Moreover, lithium carbonate's versatility extends beyond automotive applications. It is widely utilized in portable electronic devices such as smartphones, laptops, and tablets, where its high energy density and long cycle life enhance device performance and longevity. Additionally, lithium carbonate is crucial for grid-scale energy storage systems, enabling the integration of renewable energy sources like solar and wind power into the electricity grid. This capability addresses the intermittency challenges associated with renewable energy generation, thereby promoting grid stability and resilience.

Regional Coverage

The report provides a detailed analysis of the lithium carbonate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends. 

Global Lithium Carbonate Price

The report offers a holistic view of the global lithium carbonate pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Lithium Carbonate Price

The lithium carbonate market in Europe during the current quarter of 2023 (Q4) faced significant challenges and experienced a downward trend in prices due to the weak demand from downstream industries, low-priced imports, and deteriorated business sentiments.

This analysis can be extended to include detailed lithium carbonate price information for a comprehensive list of countries.

North America Lithium Carbonate Price

The North American lithium carbonate market faced a bearish market sentiment throughout Q4 2023. The demand from the domestic automotive industry remained minimal, and downstream demand from lithium-ion battery manufacturing industries remained stagnant resulting in a decline in prices.   

Specific data on lithium carbonate prices within the United States and Canada can also be provided.

Middle East and Africa Lithium Carbonate Price

The report explores the lithium carbonate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on lithium carbonate prices for countries can also be provided.

Asia Pacific Lithium Carbonate Price

The APAC region's lithium carbonate market remained bearish in Q4 2023 due to poor downstream demand from the battery manufacturing industry. The market had high supply, and demand was low, leading to a decline in prices throughout the quarter. Furthermore, the prices of imported goods were expected to decline further, and the market outlook remained suppressed.

This analysis can be further extended to include detailed lithium carbonate prices for a comprehensive list of countries within the region.

Latin America Lithium Carbonate Price

The analysis of lithium carbonate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of lithium carbonate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting lithium carbonate price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the lithium carbonate industry.