Russian Federation: Market for Lithium Oxide, Hydroxide and Carbonate 2024

Market Size for Lithium Oxide, Hydroxide and Carbonate in the Russian Federation

In 2022, the Russian market for lithium oxide, hydroxide and carbonates was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption posted a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Lithium Oxide, Hydroxide and Carbonate in the Russian Federation

In value terms, lithium oxide, hydroxide and carbonate production declined modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Lithium Oxide, Hydroxide and Carbonate

Exports from the Russian Federation

For the fourth consecutive year, Russia recorded growth in shipments abroad of lithium oxide, hydroxide and carbonates, which increased by X% to X tons in 2022. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, lithium oxide, hydroxide and carbonate exports surged to $X in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

South Korea (X tons) was the main destination for lithium oxide, hydroxide and carbonate exports from Russia, with a X% share of total exports. Moreover, lithium oxide, hydroxide and carbonate exports to South Korea exceeded the volume sent to the second major destination, the UK (X tons), twofold. The third position in this ranking was taken by Poland (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Poland (X% per year).

In value terms, the largest markets for lithium oxide, hydroxide and carbonate exported from Russia were the UK ($X), South Korea ($X) and the United Arab Emirates ($X), with a combined X% share of total exports. Poland, India, Turkey, Estonia, China, Japan, Canada and Belgium lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Estonia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for lithium oxide, hydroxide and carbonates amounted to $X per ton, surging by X% against the previous year. Overall, the export price saw strong growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lithium Oxide, Hydroxide and Carbonate

Imports into the Russian Federation

Lithium oxide, hydroxide and carbonate imports into Russia soared to X tons in 2022, jumping by X% compared with 2021 figures. Overall, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lithium oxide, hydroxide and carbonate imports surged to $X in 2022. In general, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons) constituted the largest lithium oxide, hydroxide and carbonate supplier to Russia, accounting for a X% share of total imports. Moreover, lithium oxide, hydroxide and carbonate imports from Belgium exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was held by Bolivia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Bolivia (X% per year).

In value terms, Belgium ($X), Bolivia ($X) and China ($X) constituted the largest lithium oxide, hydroxide and carbonate suppliers to Russia, with a combined X% share of total imports.

Bolivia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for lithium oxide, hydroxide and carbonates stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price showed a resilient expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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