The Lithium Market is driven by increasing adoption of electric vehicles

The global lithium market is estimated to be valued at US$ 62.08 Billion in 2025 and is expected to exhibit a CAGR of 17.7% over the forecast period of 2025 to 2032.

The lithium market comprises lithium metal, lithium hydroxide, lithium carbonate and other lithium compounds that are widely used across many industries including energy storage, batteries, lubricating grease, air treatment, glass and ceramics manufacturing and polymers. Lithium is a key component in lithium-ion batteries that power various consumer electronics as well as electric vehicles.
Major lithium producers are focusing on international expansion by entering into strategic partnerships with global companies and investing in resource rich countries to ensure raw material security. For instance, Albemarle Corporation has a joint venture with Mineral

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