Global Lithium Carbonate Market 2023

Lithium Carbonate Market Size

After two years of decline, the global lithium carbonate market increased by 28% to $X in 2021. Overall, consumption recorded prominent growth. Over the period under review, the global market hit record highs in 2021 and is likely to see steady growth in the near future.

Lithium Carbonate Production

In value terms, lithium carbonate production skyrocketed to $X in 2021 estimated in export price. Overall, production saw a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 89% against the previous year. Global production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Lithium Carbonate Exports

Exports

In 2021, global exports of lithium carbonates skyrocketed to X tons, rising by 30% compared with 2020. In general, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 40% against the previous year. Over the period under review, the global exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, lithium carbonate exports surged to $X in 2021. Over the period under review, exports saw a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 105% against the previous year. Over the period under review, the global exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Chile was the major exporter of lithium carbonates in the world, with the volume of exports accounting for X tons, which was approx. 67% of total exports in 2021. It was distantly followed by Argentina (X tons), creating a 16% share of total exports. The following exporters - China (X tons), the Netherlands (X tons), Belgium (X tons), South Korea (X tons) and the United States (X tons) - together made up 14% of total exports.

Exports from Chile increased at an average annual rate of +10.5% from 2012 to 2021. At the same time, the Netherlands (+33.3%), South Korea (+30.2%), Argentina (+14.2%), China (+11.5%) and the United States (+5.7%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +33.3% from 2012-2021. Belgium experienced a relatively flat trend pattern. From 2012 to 2021, the share of Argentina, the Netherlands and South Korea increased by +3.6, +3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest lithium carbonate supplier worldwide, comprising 60% of global exports. The second position in the ranking was held by Argentina ($X), with an 18% share of global exports. It was followed by China, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value in Chile stood at +15.6%. In the other countries, the average annual rates were as follows: Argentina (+23.1% per year) and China (+19.5% per year).

Export Prices by Country

In 2021, the average lithium carbonate export price amounted to $X per ton, picking up by 16% against the previous year. Overall, the export price recorded a buoyant expansion. The pace of growth was the most pronounced in 2016 when the average export price increased by 46%. The global export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.1%), while the other global leaders experienced more modest paces of growth.

Lithium Carbonate Imports

Imports

For the eighth consecutive year, the global market recorded growth in purchases abroad of lithium carbonates, which increased by 34% to X tons in 2021. Over the period under review, imports saw a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 41%. Global imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, lithium carbonate imports skyrocketed to $X in 2021. In general, imports posted a strong expansion. The growth pace was the most rapid in 2016 with an increase of 94% against the previous year. Over the period under review, global imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the major importer of lithium carbonates, creating 41% of total imports. South Korea (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Japan (11%), the United States (6.3%) and Russia (4.6%). The Netherlands (X tons) and Germany (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Netherlands (with a CAGR of +38.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest lithium carbonate importing markets worldwide were China ($X), South Korea ($X) and Japan ($X), with a combined 75% share of global imports.

In terms of the main importing countries, China, with a CAGR of +27.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average lithium carbonate import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price showed a prominent expansion. The pace of growth appeared the most rapid in 2017 an increase of 42%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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