배터리용 리튬 화합물 : 시장 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the lithium compound for Battery Application Market Industry size was valued at 1.09 LCE million tons in 2025 and is estimated to grow from 1.33 LCE million tons in 2026 to reach 3.63 LCE million tons by 2031, at a CAGR of 22.23% during the forecast period (2026-2031).

This report is Segmented by Compound (Lithium Carbonate, Lithium Hydroxide, Lithium Chloride, and Others), End-User Industry (Automotive, Consumer Electronics, Energy Storage Systems, and Other Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). Market Forecasts are Provided in Terms of Volume (LCE Tons).

Global Lithium Compound for Battery Application Market Trends and Insights

Surge in Electric-Vehicle Adoption

In 2025, global sales of passenger and commercial electric vehicles (EVs) surpassed significant milestones, solidifying a robust demand for battery-grade lithium compounds. Fleets in Europe and North America, emphasizing higher mileage, are gravitating towards nickel-rich cells. These cells are driving a surge in hydroxide adoption. Meanwhile, China plays a crucial role: domestic OEMs dispatched a substantial number of EVs, capitalizing on cost-effective lithium iron phosphate (LFP) packs derived from carbonate feedstock. Thanks to incentives from the Inflation Reduction Act, North America saw a flurry of commitments for cell plants. Each plant is poised to draw in an annual supply of lithium carbonate equivalent (LCE). As the divide between high-nickel and LFP strategies widens, both carbonate and hydroxide markets are set for simultaneous growth. Furthermore, the electrification of commercial vehicles, spanning from city buses to medium-duty trucks, introduces a consistent demand throughout the year.

Growth in Renewable-Energy Storage Deployments

Utility-scale battery installations are expected to continue climbing as solar and wind build-outs require firming capacity. California's Self-Generation Incentive Program has authorized significant funding for residential systems, predominantly utilizing LFP cells that depend on lithium carbonate. China's newly introduced storage-mandate policy for wind and solar plants is spurring demand for LFP modules. In India, a tender for storage underscores the nation's escalating grid-balancing demands, even as financing models lean towards shorter-duration assets with reduced lithium reliance. While long-duration chemistries like iron-air are poised to carve out niches in the latter part of the decade, they remain in their commercial infancy, ensuring lithium's dominance at least until 2031.

Supply-Chain Bottlenecks and Spodumene Shortages

In 2025, Australian miners curtailed spodumene concentrate production as prices fell. This move reduced feedstock for Chinese converters and brought refinery inventories down to minimal levels. Typically, new hard-rock capacities take several months from the final investment decision to produce their first product. Thus, today's cancellations hint at potential shortages for the growing electric vehicle (EV) market in the late decade. Liontown's delay of the Kathleen Valley project means a loss of additional supply from the chain. With EV sales set to grow annually, demand for spodumene could surpass economically viable supply in the coming years. While brines offer some respite, they come with environmental challenges, and direct lithium extraction technologies are still in the pilot phase. Without a consistent price rebound to bolster mine cash flows, the lithium compound market may face periodic squeezes, jeopardizing stable planning downstream.

Other drivers and restraints analyzed in the detailed report include:

1. Localization of Battery Supply Chains in Emerging Economies
2. Higher Li-Intensity from High-Nickel and Solid-State Chemistries
3. Stringent Water-Use and Environmental Regulations

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Lithium carbonate held 64.31% of the 2025 volume, primarily due to its pivotal role in LFP cathodes. These cathodes are the backbone of China's burgeoning mass-market electric vehicle (EV) and stationary energy segments. LFP battery packs achieved a notable milestone, reaching total system costs that underscored their competitiveness and highlighted a significant advantage over nickel-based chemistries, further bolstering the demand for lithium carbonate. The lithium compound market size for carbonate applications is projected to advance at a 22.79% CAGR, driven by the swift electrification of two-wheelers and a growing emphasis on energy storage. Meanwhile, lithium hydroxide, while accounting for a significant portion of the 2025 output, commanded a premium, contributing a disproportionately higher share of revenue. This was largely due to battery-grade premiums. The dynamics between the two products reveal a strategic balance: while lithium carbonate ensures volume stability, lithium hydroxide offers enhanced profit margins and greater bargaining power.

While second-tier compounds like lithium chloride, fluoride, oxide, and sulfide constituted about 6% of the 2025 volume, their significance looms large in niche applications. For instance, developers of solid-state electrolytes turn to high-purity lithium chloride, essential for crafting sulfide-based films. These films boast ionic conductivities exceeding 10 mS/cm, a benchmark that mainstream carbonate routes struggle to achieve. Lithium fluoride, on the other hand, plays a crucial role as a high-voltage electrolyte additive, preventing transition-metal dissolution in 4.5-V NM cathodes. Notably, prices for these specialty salts can outstrip carbonate benchmarks. Furthermore, demand for these compounds closely follows research and development milestones set by major OEMs. As pilot production lines transition from gram-scale experiments to ton-scale operations, specialty producers stand poised to carve out lucrative micro-markets. These markets, rich in intellectual property, may not boast high tonnage but promise significant value.

Complete Report Scope:

• By Compound
  • Lithium Carbonate
  • Lithium Hydroxide
  • Lithium Chloride
  • Others (Lithium Oxide, Lithium Fluoride, Lithium Sulfide, and Lithium Sulfate)
• By End-user Industry
  • Automotive (Electric Vehicles)
  • Consumer Electronics
  • Energy Storage Systems
  • Other Industries (Power tools, Aerospace, etc.)
• By Geography
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific controlled 64.86% of the 2025 volume and 23.85% CAGR through 2031, reinforcing the region's stewardship of the lithium compound market. China, a significant player, refined a substantial amount of LCE, primarily servicing cell plants in its Guangdong, Jiangsu, and Sichuan provinces. Ganfeng's Xinyu refinery, with an annual capacity, adeptly shifts between producing carbonate and hydroxide, responding to fluctuations in nickel prices. While India imported a substantial percentage of its LCE requirement in 2025, the nation is accelerating domestic exploration efforts in Jammu and Kashmir, with hopes of curbing its import reliance by the decade's end. Both Japan and South Korea, despite being net importers, leverage their processing expertise through giants like Panasonic and LG Energy Solution, collectively utilizing LCE for their cylindrical and pouch-cell productions.

North America accounted for a notable share of the 2025 demand. At Albemarle's Silver Peak brine site, carbonate was produced, and the company is pushing forward with plans for an annual capacity hydroxide facility at Kings Mountain, aiming for a 2027 launch. Lithium Americas' Thacker Pass project, having navigated federal approvals, is set to commence in 2027 with an output of carbonate. In Quebec, Canada's Nemaska is reviving operations to add hydroxide, utilizing hydropower for a greener processing approach. Meanwhile, Mexico's growing electric vehicle hub in Nuevo Leon anticipates a demand of LCE annually by 2028, with supplies expected from both South American brines and potential resources in Sonora.

Europe secured a portion of the global lithium volume in 2025, hampered by a scarcity of local ore. Germany's Vulcan Energy is pioneering geothermal-brine extraction, targeting an output of hydroxide in 2026, with ambitions to scale up by 2028. In France, Imerys is evaluating the feasibility of extracting hydroxide from its Beauvoir site starting in 2028. The UK, while benefiting from grants under the Automotive Transformation Fund for cell assembly, still faces refining shortfalls, leading to a reliance on hydroxide imports from Asia. In South America, both Chile and Argentina were responsible for a significant share of the primary lithium output in 2025. Meanwhile, in the Middle East, Saudi Arabia is investing in direct lithium extraction (DLE) pilots on Red Sea brines, hinting at the emergence of new low-carbon supply sources.

1. Albemarle Corporation
2. Jiangxi Ganfeng Lithium Group Co., Ltd.
3. LevertonHELM Limited
4. Lithium Americas Corp.
5. Lithium Argentina AG
6. Mineral Resources
7. PLS (Pilbara Minerals)
8. Rio Tinto
9. Shandong Ruifu Lithium Co., Ltd.
10. SQM S.A.
11. Tianqi Lithium Co., Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Surge in electric-vehicle adoption
  • 4.2.2 Growth in renewable-energy storage deployments
  • 4.2.3 Expansion of consumer electronics and power tools
  • 4.2.4 Localization of battery supply chains in emerging economies
  • 4.2.5 Higher Li-intensity from high-nickel and solid-state chemistries
• 4.3 Market Restraints
  • 4.3.1 Supply-chain bottlenecks and spodumene shortages
  • 4.3.2 Stringent water-use and environmental regulations
  • 4.3.3 Lithium-price volatility driven by speculation
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces Analysis
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Compound
  • 5.1.1 Lithium Carbonate
  • 5.1.2 Lithium Hydroxide
  • 5.1.3 Lithium Chloride
  • 5.1.4 Others (Lithium Oxide, Lithium Fluoride, Lithium Sulfide, and Lithium Sulfate)
• 5.2 By End-user Industry
  • 5.2.1 Automotive (Electric Vehicles)
  • 5.2.2 Consumer Electronics
  • 5.2.3 Energy Storage Systems
  • 5.2.4 Other Industries (Power tools, Aerospace, etc.)
• 5.3 By Geography
  • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 Japan
    • 5.3.1.3 India
    • 5.3.1.4 South Korea
    • 5.3.1.5 Rest of Asia-Pacific
  • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
  • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 France
    • 5.3.3.4 Italy
    • 5.3.3.5 Rest of Europe
  • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
  • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share/Ranking Analysis
• 6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials as available, Strategic Information, Products and Services, Recent Developments)
  • 6.4.1 Albemarle Corporation
  • 6.4.2 Jiangxi Ganfeng Lithium Group Co., Ltd.
  • 6.4.3 LevertonHELM Limited
  • 6.4.4 Lithium Americas Corp.
  • 6.4.5 Lithium Argentina AG
  • 6.4.6 Mineral Resources
  • 6.4.7 PLS (Pilbara Minerals)
  • 6.4.8 Rio Tinto
  • 6.4.9 Shandong Ruifu Lithium Co., Ltd.
  • 6.4.10 SQM S.A.
  • 6.4.11 Tianqi Lithium Co., Ltd.

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-Need Assessment