PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1569845
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1569845
Lithium Hydroxide Market Forecasts to 2030 - Global Analysis by Type (Battery Grade Lithium Hydroxide, Technical Grade Lithium Hydroxide), Application, End User and By Geography
According to Stratistics MRC, the Global Lithium Hydroxide Market is accounted for $0.61 billion in 2024 and is expected to reach $1.15 billion by 2030 growing at a CAGR of 11.22% during the forecast period. Lithium hydroxide is a chemical compound with the formula LiOH, consisting of lithium, oxygen, and hydrogen. It is a white, hygroscopic solid that is highly soluble in water. Primarily used in the production of lithium-ion batteries, lithium hydroxide enhances battery performance by improving energy density and stability. It also serves as a crucial component in ceramics, greases, and lubricants, and is utilized in various industrial applications.
According to the estimate released by the International Energy Agency (IEA), the total estimated number of electric vehicles in use globally will be approximately 25.9 million in 2022.
Market Dynamics:
Driver:
Demand for Electric Vehicles (EVs)
The demand for electric vehicles (EVs) is a key driver for the market, as lithium hydroxide is essential for manufacturing high-performance lithium-ion batteries. As consumers and governments increasingly prioritize sustainable transportation, the surge in EV sales significantly boosts lithium hydroxide consumption. This heightened demand encourages investment in lithium mining and processing, leading to greater production capacity. Consequently, the lithium hydroxide market experiences robust growth, supporting the overall transition to cleaner energy and reducing dependence on fossil fuels. Thus, it boosts the growth of the market.
Restraint:
High Production Costs
High production costs in the market can hinder growth and profitability. Factors such as energy expenses, labor costs, and the complexity of extraction processes contribute to these elevated costs. When production becomes expensive, it can lead to higher prices for end products, potentially reducing demand from manufacturers of electric vehicle batteries and other applications. Additionally, high costs may deter new entrants into the market, thus it hinders the growth of the market.
Opportunity:
Technological Advancements
Technological advancements in battery chemistry and manufacturing processes are significantly impacting the lithium hydroxide market. Innovations, such as enhanced lithium-ion battery designs and improved energy density, increase the demand for high-purity lithium hydroxide. These advancements also enable more efficient extraction and processing techniques, lowering production costs and environmental impact. As manufacturers adopt cutting-edge technologies, the performance and lifespan of batteries improve, further driving the growth of electric vehicles and renewable energy storage solutions, ultimately boosting lithium hydroxide demand, thus it drives the growth of the market.
Threat:
Environmental Concerns
Environmental concerns significantly impact the market due to the ecological effects associated with lithium extraction and processing. Issues such as water usage, habitat destruction, and pollution from mining activities raise public and regulatory scrutiny. Stricter environmental regulations can lead to increased compliance costs for producers, potentially limiting supply and raising prices. Thus, it hampers the growth of the market.
Covid-19 Impact:
The COVID-19 pandemic initially disrupted the lithium hydroxide market through supply chain interruptions, halted production, and reduced demand in automotive sectors. However, as economies reopened, there was a surge in electric vehicle production and renewable energy initiatives, driving a rebound in lithium hydroxide demand. The pandemic also accelerated the shift towards sustainable technologies, prompting investments in battery technologies and recycling.
The industrial segment is expected to be the largest during the forecast period
The industrial is expected to be the largest during the forecast period due to demand across various applications, particularly in battery manufacturing for electric vehicles and renewable energy storage. Industries such as electronics and aerospace also utilize lithium hydroxide in their products, further increasing consumption. As manufacturing processes evolve towards more sustainable practices, the need for high-purity lithium hydroxide grows, leading to investments in extraction and refining technologies.
The lubricants segment is expected to have the highest CAGR during the forecast period
The lubricants segment is expected to have the highest CAGR during the forecast period as they enhancing the efficiency and longevity of machinery used in lithium extraction and processing. High-quality lubricants reduce wear and tear on equipment, minimizing downtime and maintenance costs, which is vital for scaling production. Additionally, specialized lubricants can improve the performance of battery components, contributing to overall battery efficiency and lifespan. This synergy not only boosts production capacity but also supports the growing demand for lithium hydroxide in energy storage and electric vehicles.
Region with largest share:
North America is projected to hold the largest market share during the forecast period because automakers and tech companies ramp up production, domestic demand for lithium hydroxide surges, driving investment in mining and processing facilities. This growth promotes job creation and technological innovation while enhancing supply chain resilience. Additionally, a focus on sustainable energy solutions aligns with environmental goals, positioning North America as a key player in the global transition to clean energy.
Region with highest CAGR:
Asia Pacific is projected to witness the highest CAGR over the forecast period owing to advancements in electric vehicle (EV) production and energy storage solutions. As demand for batteries increases, especially countries like China and Japan, local industries benefit from enhanced manufacturing capabilities and job creation. This growth supports the transition to renewable energy, fostering sustainability initiatives. Additionally, competition for lithium resources can lead to geopolitical dynamics, influencing trade relationships and regional cooperation in securing raw materials.
Key players in the market
Some of the key players in Lithium Hydroxide Market include Albemarle Corporation, Allkem Limited, China Lithium Products Technology Co., Ltd., Critical Elements Lithium Corporation, European Lithium Ltd., FMC Corporation, Galaxy Resources Limited, Ganfeng Lithium Co., Ltd., Infinity Lithium Corporation, Jiangxi Ganfeng Lithium, Lepidico Ltd., Lithium Americas Corp., Livent Corporation, Mineral Resources Limited, Nemaska Lithium Inc., Orocobre Limited, Piedmont Lithium Limited, Sayona Mining Limited, Sichuan Yahua Industrial Group Co., Ltd., SQM (Sociedad Quimica y Minera de Chile), Tianqi Lithium Corporation and Western Lithium USA Corporation.
Key Developments:
In July 2024, FMC Corporation announced has signed a definitive agreement to sell its Global Specialty Solutions (GSS) business to Environmental Science US, LLC, known as Envu, an environmental science company providing innovations that protect and enhance the health of environments around the world.
In May 2024, FMC Corporation announced collaboration with Optibrium, agreement is part of FMC's strategic plan to accelerate the discovery and commercialization of FMC's pipeline.
In April 2024, Critical Elements Lithium continues to expand major discovery at Rose West with additional multiple wide lithium-rich intercepts.
Types Covered:
- Battery Grade Lithium Hydroxide
- Technical Grade Lithium Hydroxide
Applications Covered:
- Batteries
- Lubricants
- Ceramics and Glass
- Air Purification
- Chemical Synthesis
- Other Applications
End Users Covered:
- Automotive
- Consumer Electronics
- Energy Storage
- Industrial
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Lithium Hydroxide Market, By Type
- 5.1 Introduction
- 5.2 Battery Grade Lithium Hydroxide
- 5.3 Technical Grade Lithium Hydroxide
6 Global Lithium Hydroxide Market, By Application
- 6.1 Introduction
- 6.2 Batteries
- 6.3 Lubricants
- 6.4 Ceramics and Glass
- 6.5 Air Purification
- 6.6 Chemical Synthesis
- 6.7 Other Applications
7 Global Lithium Hydroxide Market, By End User
- 7.1 Introduction
- 7.2 Automotive
- 7.3 Consumer Electronics
- 7.4 Energy Storage
- 7.5 Industrial
- 7.6 Other End Users
8 Global Lithium Hydroxide Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Albemarle Corporation
- 10.2 Allkem Limited
- 10.3 China Lithium Products Technology Co., Ltd.
- 10.4 Critical Elements Lithium Corporation
- 10.5 European Lithium Ltd.
- 10.6 FMC Corporation
- 10.7 Galaxy Resources Limited
- 10.8 Ganfeng Lithium Co., Ltd.
- 10.9 Infinity Lithium Corporation
- 10.10 Jiangxi Ganfeng Lithium
- 10.11 Lepidico Ltd.
- 10.12 Lithium Americas Corp.
- 10.13 Livent Corporation
- 10.14 Mineral Resources Limited
- 10.15 Nemaska Lithium Inc.
- 10.16 Orocobre Limited
- 10.17 Piedmont Lithium Limited
- 10.18 Sayona Mining Limited
- 10.19 Sichuan Yahua Industrial Group Co., Ltd.
- 10.20 SQM (Sociedad Quimica y Minera de Chile)
- 10.21 Tianqi Lithium Corporation
- 10.22 Western Lithium USA Corporation
List of Tables
- Table 1 Global Lithium Hydroxide Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Lithium Hydroxide Market Outlook, By Type (2022-2030) ($MN)
- Table 3 Global Lithium Hydroxide Market Outlook, By Battery Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 4 Global Lithium Hydroxide Market Outlook, By Technical Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 5 Global Lithium Hydroxide Market Outlook, By Application (2022-2030) ($MN)
- Table 6 Global Lithium Hydroxide Market Outlook, By Batteries (2022-2030) ($MN)
- Table 7 Global Lithium Hydroxide Market Outlook, By Lubricants (2022-2030) ($MN)
- Table 8 Global Lithium Hydroxide Market Outlook, By Ceramics and Glass (2022-2030) ($MN)
- Table 9 Global Lithium Hydroxide Market Outlook, By Air Purification (2022-2030) ($MN)
- Table 10 Global Lithium Hydroxide Market Outlook, By Chemical Synthesis (2022-2030) ($MN)
- Table 11 Global Lithium Hydroxide Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 12 Global Lithium Hydroxide Market Outlook, By End User (2022-2030) ($MN)
- Table 13 Global Lithium Hydroxide Market Outlook, By Automotive (2022-2030) ($MN)
- Table 14 Global Lithium Hydroxide Market Outlook, By Consumer Electronics (2022-2030) ($MN)
- Table 15 Global Lithium Hydroxide Market Outlook, By Energy Storage (2022-2030) ($MN)
- Table 16 Global Lithium Hydroxide Market Outlook, By Industrial (2022-2030) ($MN)
- Table 17 Global Lithium Hydroxide Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 18 North America Lithium Hydroxide Market Outlook, By Country (2022-2030) ($MN)
- Table 19 North America Lithium Hydroxide Market Outlook, By Type (2022-2030) ($MN)
- Table 20 North America Lithium Hydroxide Market Outlook, By Battery Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 21 North America Lithium Hydroxide Market Outlook, By Technical Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 22 North America Lithium Hydroxide Market Outlook, By Application (2022-2030) ($MN)
- Table 23 North America Lithium Hydroxide Market Outlook, By Batteries (2022-2030) ($MN)
- Table 24 North America Lithium Hydroxide Market Outlook, By Lubricants (2022-2030) ($MN)
- Table 25 North America Lithium Hydroxide Market Outlook, By Ceramics and Glass (2022-2030) ($MN)
- Table 26 North America Lithium Hydroxide Market Outlook, By Air Purification (2022-2030) ($MN)
- Table 27 North America Lithium Hydroxide Market Outlook, By Chemical Synthesis (2022-2030) ($MN)
- Table 28 North America Lithium Hydroxide Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 29 North America Lithium Hydroxide Market Outlook, By End User (2022-2030) ($MN)
- Table 30 North America Lithium Hydroxide Market Outlook, By Automotive (2022-2030) ($MN)
- Table 31 North America Lithium Hydroxide Market Outlook, By Consumer Electronics (2022-2030) ($MN)
- Table 32 North America Lithium Hydroxide Market Outlook, By Energy Storage (2022-2030) ($MN)
- Table 33 North America Lithium Hydroxide Market Outlook, By Industrial (2022-2030) ($MN)
- Table 34 North America Lithium Hydroxide Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 35 Europe Lithium Hydroxide Market Outlook, By Country (2022-2030) ($MN)
- Table 36 Europe Lithium Hydroxide Market Outlook, By Type (2022-2030) ($MN)
- Table 37 Europe Lithium Hydroxide Market Outlook, By Battery Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 38 Europe Lithium Hydroxide Market Outlook, By Technical Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 39 Europe Lithium Hydroxide Market Outlook, By Application (2022-2030) ($MN)
- Table 40 Europe Lithium Hydroxide Market Outlook, By Batteries (2022-2030) ($MN)
- Table 41 Europe Lithium Hydroxide Market Outlook, By Lubricants (2022-2030) ($MN)
- Table 42 Europe Lithium Hydroxide Market Outlook, By Ceramics and Glass (2022-2030) ($MN)
- Table 43 Europe Lithium Hydroxide Market Outlook, By Air Purification (2022-2030) ($MN)
- Table 44 Europe Lithium Hydroxide Market Outlook, By Chemical Synthesis (2022-2030) ($MN)
- Table 45 Europe Lithium Hydroxide Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 46 Europe Lithium Hydroxide Market Outlook, By End User (2022-2030) ($MN)
- Table 47 Europe Lithium Hydroxide Market Outlook, By Automotive (2022-2030) ($MN)
- Table 48 Europe Lithium Hydroxide Market Outlook, By Consumer Electronics (2022-2030) ($MN)
- Table 49 Europe Lithium Hydroxide Market Outlook, By Energy Storage (2022-2030) ($MN)
- Table 50 Europe Lithium Hydroxide Market Outlook, By Industrial (2022-2030) ($MN)
- Table 51 Europe Lithium Hydroxide Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 52 Asia Pacific Lithium Hydroxide Market Outlook, By Country (2022-2030) ($MN)
- Table 53 Asia Pacific Lithium Hydroxide Market Outlook, By Type (2022-2030) ($MN)
- Table 54 Asia Pacific Lithium Hydroxide Market Outlook, By Battery Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 55 Asia Pacific Lithium Hydroxide Market Outlook, By Technical Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 56 Asia Pacific Lithium Hydroxide Market Outlook, By Application (2022-2030) ($MN)
- Table 57 Asia Pacific Lithium Hydroxide Market Outlook, By Batteries (2022-2030) ($MN)
- Table 58 Asia Pacific Lithium Hydroxide Market Outlook, By Lubricants (2022-2030) ($MN)
- Table 59 Asia Pacific Lithium Hydroxide Market Outlook, By Ceramics and Glass (2022-2030) ($MN)
- Table 60 Asia Pacific Lithium Hydroxide Market Outlook, By Air Purification (2022-2030) ($MN)
- Table 61 Asia Pacific Lithium Hydroxide Market Outlook, By Chemical Synthesis (2022-2030) ($MN)
- Table 62 Asia Pacific Lithium Hydroxide Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 63 Asia Pacific Lithium Hydroxide Market Outlook, By End User (2022-2030) ($MN)
- Table 64 Asia Pacific Lithium Hydroxide Market Outlook, By Automotive (2022-2030) ($MN)
- Table 65 Asia Pacific Lithium Hydroxide Market Outlook, By Consumer Electronics (2022-2030) ($MN)
- Table 66 Asia Pacific Lithium Hydroxide Market Outlook, By Energy Storage (2022-2030) ($MN)
- Table 67 Asia Pacific Lithium Hydroxide Market Outlook, By Industrial (2022-2030) ($MN)
- Table 68 Asia Pacific Lithium Hydroxide Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 69 South America Lithium Hydroxide Market Outlook, By Country (2022-2030) ($MN)
- Table 70 South America Lithium Hydroxide Market Outlook, By Type (2022-2030) ($MN)
- Table 71 South America Lithium Hydroxide Market Outlook, By Battery Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 72 South America Lithium Hydroxide Market Outlook, By Technical Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 73 South America Lithium Hydroxide Market Outlook, By Application (2022-2030) ($MN)
- Table 74 South America Lithium Hydroxide Market Outlook, By Batteries (2022-2030) ($MN)
- Table 75 South America Lithium Hydroxide Market Outlook, By Lubricants (2022-2030) ($MN)
- Table 76 South America Lithium Hydroxide Market Outlook, By Ceramics and Glass (2022-2030) ($MN)
- Table 77 South America Lithium Hydroxide Market Outlook, By Air Purification (2022-2030) ($MN)
- Table 78 South America Lithium Hydroxide Market Outlook, By Chemical Synthesis (2022-2030) ($MN)
- Table 79 South America Lithium Hydroxide Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 80 South America Lithium Hydroxide Market Outlook, By End User (2022-2030) ($MN)
- Table 81 South America Lithium Hydroxide Market Outlook, By Automotive (2022-2030) ($MN)
- Table 82 South America Lithium Hydroxide Market Outlook, By Consumer Electronics (2022-2030) ($MN)
- Table 83 South America Lithium Hydroxide Market Outlook, By Energy Storage (2022-2030) ($MN)
- Table 84 South America Lithium Hydroxide Market Outlook, By Industrial (2022-2030) ($MN)
- Table 85 South America Lithium Hydroxide Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 86 Middle East & Africa Lithium Hydroxide Market Outlook, By Country (2022-2030) ($MN)
- Table 87 Middle East & Africa Lithium Hydroxide Market Outlook, By Type (2022-2030) ($MN)
- Table 88 Middle East & Africa Lithium Hydroxide Market Outlook, By Battery Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 89 Middle East & Africa Lithium Hydroxide Market Outlook, By Technical Grade Lithium Hydroxide (2022-2030) ($MN)
- Table 90 Middle East & Africa Lithium Hydroxide Market Outlook, By Application (2022-2030) ($MN)
- Table 91 Middle East & Africa Lithium Hydroxide Market Outlook, By Batteries (2022-2030) ($MN)
- Table 92 Middle East & Africa Lithium Hydroxide Market Outlook, By Lubricants (2022-2030) ($MN)
- Table 93 Middle East & Africa Lithium Hydroxide Market Outlook, By Ceramics and Glass (2022-2030) ($MN)
- Table 94 Middle East & Africa Lithium Hydroxide Market Outlook, By Air Purification (2022-2030) ($MN)
- Table 95 Middle East & Africa Lithium Hydroxide Market Outlook, By Chemical Synthesis (2022-2030) ($MN)
- Table 96 Middle East & Africa Lithium Hydroxide Market Outlook, By Other Applications (2022-2030) ($MN)
- Table 97 Middle East & Africa Lithium Hydroxide Market Outlook, By End User (2022-2030) ($MN)
- Table 98 Middle East & Africa Lithium Hydroxide Market Outlook, By Automotive (2022-2030) ($MN)
- Table 99 Middle East & Africa Lithium Hydroxide Market Outlook, By Consumer Electronics (2022-2030) ($MN)
- Table 100 Middle East & Africa Lithium Hydroxide Market Outlook, By Energy Storage (2022-2030) ($MN)
- Table 101 Middle East & Africa Lithium Hydroxide Market Outlook, By Industrial (2022-2030) ($MN)
- Table 102 Middle East & Africa Lithium Hydroxide Market Outlook, By Other End Users (2022-2030) ($MN)
