Prices recovered in 2026, with one large producer's realized price near $20 per kg.
Why this market is moving now
- Battery storage has become a second demand engine: lithium demand from storage grew 60% in 2025.
- Supply risk rose when Zimbabwe, with 10% of world lithium mining, suspended concentrate exports in February 2026.
- Prices recovered: one large producer's realized price rose to $20.02 per kg in the third quarter of 2026, from $10.28 a year earlier.
- Refining stays concentrated, with China holding 70% of world lithium refining.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World lithium mine production, excluding the United States, rose 31% to about 290,000 tons of lithium content in 2025, from 222,000 tons in 2024. | 290,000 metric tons of lithium content | 2025 | |
| World lithium demand rose 23% to more than 275 kt of lithium in 2025. | 275 kt lithium | 2025 | |
| Australia mined an estimated 92,000 tons of lithium in 2025, the most of any country. | 92,000 metric tons of lithium content | 2025 | |
| China mined an estimated 62,000 tons of lithium in 2025, up from 41,400 tons in 2024. | 62,000 metric tons of lithium content | 2025 | |
| Chile holds the largest lithium reserves, an estimated 9.2 million tons, out of world reserves of about 37 million tons. | 9.2 million metric tons of lithium content | 2025 | |
| China accounts for 70% of world lithium refining. | 70 % | 2025 | |
| Lithium demand from battery storage grew 60% in 2025. | 60 % | 2025 | |
| Zimbabwe, with 10% of world lithium mining, suspended exports of lithium concentrate in February 2026, with a possible export ban in 2027. | 10 % of world lithium mining | 2026 | |
| Albemarle's average realized lithium price was $20.02 per kg of lithium carbonate equivalent in the third quarter of 2026, up from $10.28 a year earlier. | 20.02 USD per kg LCE | 2026 | |
| Two new direct lithium extraction projects in Argentina are planned: Rio Tinto's Rincon at 60 kt of lithium a year when fully expanded and Eramet's Centenario at 24 kt by 2027. | 60 kt lithium per year (planned capacity) | 2026 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Companies to watch
Albemarle
Large lithium producer whose average realized price was $20.02 per kg LCE in the third quarter of 2026.
Rio Tinto
Developing the Rincon direct lithium extraction project in Argentina, planned at 60 kt of lithium a year when fully expanded.
Eramet
Developing the Centenario direct lithium extraction project in Argentina, planned at 24 kt of lithium a year by 2027.
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
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- Excel data pack
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- Method note and assumptions
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Frequently asked questions
How big is the global lithium market?
World lithium mine production, excluding the United States, was about 290,000 tons of lithium content in 2025, up 31%. World lithium demand rose 23% to more than 275 kt in 2025.
Which countries produce the most lithium?
Australia mined an estimated 92,000 tons of lithium in 2025, the most of any country. China mined about 62,000 tons. China also holds 70% of world lithium refining.
Which country has the largest lithium reserves?
Chile holds the largest lithium reserves, an estimated 9.2 million tons, out of world reserves of about 37 million tons.
What is driving lithium demand?
Electric vehicles and battery storage. Lithium demand from battery storage grew 60% in 2025, and total lithium demand rose 23%.
What are lithium prices in 2026?
Prices recovered in 2026. Albemarle's average realized price was $20.02 per kg of lithium carbonate equivalent in the third quarter of 2026, up from $10.28 a year earlier.
Who are the main lithium companies?
Albemarle is a large producer. Rio Tinto and Eramet are building new direct extraction projects in Argentina, planned at 60 kt and 24 kt of lithium a year.
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