Lithium Extraction Market Size To Reach $11.94 Billion By 2033

Lithium Extraction Market Growth & Trends

The global lithium extraction market size is projected to reach USD 11.94 billion by 2033, progressing at a CAGR of 10.4% from 2026 to 2033. The market expansion is fueled by accelerating electric vehicle adoption, rising deployment of grid-scale energy storage systems, and increasing investments in renewable energy integration. Strong government policy support for critical minerals security, advancements in direct lithium extraction (DLE) technologies, and expanding upstream mining capacities across Australia, Latin America, and North America are further strengthening long-term supply growth and capital inflows into the sector.

Hard rock spodumene currently accounts for the largest share of revenue in the lithium extraction market, supported by Australia’s strong mining output and its established logistics network supplying major refining hubs, particularly in Asia. These projects typically move from development to production more quickly than brine operations and deliver stable ore grades, allowing producers to scale output efficiently during periods of elevated battery demand. The operational flexibility and integration with downstream conversion facilities further reinforce spodumene’s leading commercial position.

Lithium brine resources are forecast to grow at the fastest rate over the coming years. Expansion activities across Chile, Argentina, and Bolivia, combined with the increasing deployment of direct lithium extraction (DLE) technologies, are improving recovery efficiency and project economics. Brine operations can offer competitive cost structures and, when managed effectively, a comparatively lower environmental footprint, positioning this segment for accelerated growth as the industry emphasizes sustainability, water optimization, and long-term supply security.

Environmental, Social, and Governance (ESG) compliance has become a critical strategic priority in the lithium extraction market, as investors, regulators, and downstream battery manufacturers increasingly demand responsible sourcing of essential minerals. Companies are focusing on reducing carbon intensity through renewable-powered operations, improving water stewardship, particularly in sensitive brine regions, enhancing biodiversity management, and ensuring transparent community engagement and indigenous stakeholder participation. In addition, stricter disclosure requirements, traceability frameworks, and alignment with international sustainability standards are reshaping project financing and long-term offtake agreements, making ESG performance a key differentiator in securing capital and maintaining supply chain credibility within the global battery ecosystem.

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Lithium Extraction Market Report Highlights

• Asia Pacific dominated the lithium extraction market with the largest market revenue share of over 64.0% in 2025. Asia Pacific’s leadership is primarily due to Australia’s large-scale hard rock spodumene production and China’s extensive lithium refining and processing capacity. Australia remains the world’s leading producer of spodumene concentrate, while China controls a significant portion of global lithium conversion capacity for battery-grade lithium carbonate and hydroxide. Furthermore, strong regional demand from EV manufacturers, battery producers, and energy storage system developers further consolidates the Asia Pacific’s dominant market position.

• The lithium extraction market is expected to grow at a substantial CAGR of 10.4% from 2026 to 2033. The projected growth reflects accelerating electrification of transportation, expansion of renewable energy storage systems, and increasing government policy support for domestic critical mineral supply chains. Investments in new mining projects, brine expansions, and direct lithium extraction (DLE) technologies are expected to enhance supply capabilities. Furthermore, strategic partnerships between mining companies and battery manufacturers are strengthening long-term offtake agreements, providing revenue visibility and supporting sustained market expansion.

• Based on resource type, the spodumene segment accounted for the largest market revenue share of over 52.0% in 2025. Spodumene’s dominant share is driven by its established mining infrastructure, relatively faster development timelines, and consistent lithium grades compared to some brine projects. Hard-rock operations, particularly in Australia, offer reliable output volumes and flexible scalability to respond to market fluctuations. Moreover, strong integration between spodumene producers and lithium conversion facilities has reinforced the segment’s commercial viability, especially during periods of heightened EV battery demand.

• Albemarle Corporation announced on 8 February 2026 that it would mothball part of its Kemerton lithium hydroxide processing facility in Western Australia due to elevated operating costs and market pricing pressures. The company also confirmed workforce reductions at the site, reflecting ongoing cost optimization measures amid lithium price volatility and weaker near-term margins in the refining segment.

• Zijin Mining Group announced on 11 February 2026 plans to commence lithium production in June 2026 from the Manono project in the Democratic Republic of Congo. This development marks Congo’s first lithium output and strengthens Zijin’s international battery metals portfolio as global producers accelerate new supply to meet EV-driven demand growth.

Lithium Extraction Market Segmentation

Grand View Research has segmented the global lithium extraction market report based on resource type and region:

Lithium Extraction Resource Type Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Brines

• Spodumene

• Others

Lithium Extraction Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

• Europe

  • Portugal

• Asia Pacific

  • China

  • Australia

• Latin America

  • Brazil

  • Argentina

  • Chile

  • Bolivia

• Middle East & Africa

  • Namibia

  • Zimbabwe

List of Key Players in the Lithium Extraction Market

• Albemarle Corporation

• Arcadium Lithium

• Ganfeng Lithium

• IGO Limited

• Lithium Americas Corp.

• Mineral Resources Limited

• Pilbara Minerals

• SQM (Sociedad Química y Minera de Chile)

• Tianqi Lithium

• Zijin Mining Group