The Global Lithium Chemicals Market was valued at USD 9.8 Billion in 2023 and is projected to reach USD 22.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 17.9% during the forecast period (2023–2028). This explosive growth is primarily driven by the unprecedented global demand for Lithium-Ion Batteries from the electric vehicle (EV) and energy storage sectors, alongside steady consumption from traditional industries like glass, ceramics, and lubricants.

As the world accelerates its transition to clean energy and sustainable transportation, the companies that produce the essential lithium compounds for these technologies are more critical than ever. In this blog, we profile the Top 10 Companies in the Lithium Chemicals Industry—a mix of established mining giants, specialized chemical producers, and fast-growing regional players shaping the future of battery materials.

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🔟 1. Sociedad Química y Minera de Chile (SQM)

Headquarters: Santiago, Chile
Key Offering: Lithium Carbonate, Lithium Hydroxide, Lithium Chloride

SQM is a global leader in lithium production, leveraging its vast brine resources in the Salar de Atacama, one of the world’s richest lithium deposits. The company is a key supplier to battery manufacturers worldwide and has a diverse product portfolio that also includes specialty plant nutrients, iodine, and industrial chemicals.

Strategic Initiatives & Capacity:

• Significant expansion plans to increase lithium carbonate and hydroxide capacity to 210,000 metric tons by 2025.

• Strategic partnerships with major EV battery producers in Asia and Europe.

• Commitment to sustainable and responsible brine extraction processes.

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9️⃣ 2. Albemarle Corporation

Headquarters: Charlotte, North Carolina, USA
Key Offering: Lithium Hydroxide, Lithium Carbonate, Specialty Lithium Compounds

Albemarle is one of the world’s largest and most diversified lithium producers, with resources spanning brine operations in Chile and the USA, and hard-rock mining in Australia. The company’s technical expertise is critical for producing high-purity battery-grade materials required by leading automakers.

Strategic Initiatives & Capacity:

• Mega-Flex lithium processing facility in Nevada, USA, to support domestic EV supply chains.

• Targeting a total lithium conversion capacity of approximately 350,000 metric tons LCE (Lithium Carbonate Equivalent) by 2030.

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8️⃣ 3. Livent Corporation

Headquarters: Philadelphia, Pennsylvania, USA
Key Offering: Lithium Hydroxide, Butyllithium, Lithium Metal

Livent is a pure-play lithium producer known for its high-quality battery-grade lithium hydroxide and specialty organolithium compounds. With a long history in the industry, the company has strong customer relationships and a focus on downstream vertical integration.

Strategic Initiatives & Capacity:

• Major expansion projects in Argentina ( brine) and China (hydroxide conversion) to more than double production capacity by end of 2025.

• Specializes in high-performance lithium compounds for next-generation battery chemistries.

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7️⃣ 4. Tianqi Lithium Corporation

Headquarters: Chengdu, Sichuan, China
Key Offering: Lithium Carbonate, Lithium Hydroxide, Spodumene Concentrate

Tianqi Lithium is a major Chinese producer with strategic investments in some of the world’s largest lithium assets, including a significant stake in the Greenbushes mine in Australia. The company is a cornerstone of China’s battery material supply chain.

Strategic Initiatives & Capacity:

• Controls a large portion of the world’s highest-grade spodumene production from the Greenbushes mine.

• Aggressively expanding its chemical conversion capacity within China to process raw materials into battery-grade chemicals.

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6️⃣ 5. Allkem Limited (formerly Orocobre)

Headquarters: Brisbane, Queensland, Australia
Key Offering: Lithium Carbonate, Spodumene Concentrate

Formed from the merger of Orocobre and Galaxy Resources, Allkem is a top-tier global lithium chemicals company with a portfolio of low-cost brine and hard-rock assets in Argentina and Australia. The company is focused on delivering scalable production growth.

Strategic Initiatives & Capacity:

• Developing the Olaroz Stage 2 and Sal de Vida brine projects in Argentina to significantly increase lithium carbonate output.

• Owns the Mt Cattlin spodumene mine in Australia, supplying concentrate to converters.

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5️⃣ 6. Jiangxi Ganfeng Lithium Co., Ltd.

Headquarters: Xinyu, Jiangxi, China
Key Offering: Lithium Metal, Lithium Carbonate, Lithium Hydroxide, Battery Materials

Ganfeng Lithium is the world’s largest lithium metals producer and a leading compound manufacturer. The company has an extensive global footprint, with investments in mining projects across Australia, Argentina, and Mexico, and a diversified downstream product range.

Strategic Initiatives & Capacity:

• Vertically integrated business model, from resource extraction to battery recycling.

• Long-term supply agreements with major battery manufacturers and automotive OEMs like Tesla, Volkswagen, and BMW.

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4️⃣ 7. LITHIUM AMERICAS CORP.

Headquarters: Vancouver, British Columbia, Canada
Key Offering: Lithium Hydroxide (Development Stage)

Lithium Americas is a development-stage company with two advanced, world-class lithium projects: the Caucharí-Olaroz project in Argentina (in commissioning) and the Thacker Pass project in Nevada, USA. Thacker Pass is the largest known lithium resource in the United States.

Strategic Initiatives & Capacity:

• Caucharí-Olaroz joint venture is expected to produce 40,000 tonnes per annum of lithium carbonate.

• Thacker Pass project has received key permits and is pivotal for establishing a North American lithium supply chain.

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3️⃣ 8. Pilbara Minerals

Headquarters: West Perth, Western Australia, Australia
Key Offering: Spodumene Concentrate

Pilbara Minerals operates the Pilgangoora Project, one of the largest hard-rock lithium-tantalum deposits in the world. While primarily a miner of spodumene concentrate, the company is moving downstream through joint ventures to produce lithium chemicals.

Strategic Initiatives & Capacity:

• Expanding production capacity at its Pilgangoora operation to meet soaring demand for spodumene.

• Joint venture with POSCO (South Korea) to build a lithium hydroxide conversion facility.

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2️⃣ 9. Sigma Lithium

Headquarters: Vancouver, British Columbia, Canada / São Paulo, Brazil
Key Offering: Battery-Grade Lithium Concentrate

Sigma Lithium is developing its large-scale Grota do Cirilo Project in Brazil, with a focus on producing environmentally and socially sustainable, high-purity lithium concentrate. The company aims to be a major supplier of “green” lithium to the global market.

Strategic Initiatives & Capacity:

• Phase 1 production target of 270,000 tonnes per annum of high-purity spodumene concentrate.

• Pioneering sustainable mining practices, including 100% renewable energy and dry-stack tailings.

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1️⃣ 10. Mineral Resources Limited (MinRes)

Headquarters: Perth, Western Australia, Australia
Key Offering: Spodumene Concentrate

Mineral Resources is a leading Australian mining services company with a fast-growing lithium division. Through its Wodgina and Mt Marion assets (operated in joint ventures with Albemarle and Ganfeng, respectively), MinRes is a significant force in the global spodumene market.

Strategic Initiatives & Capacity:

• Joint venture with Albemarle to restart and expand the Wodgina mine, with attached hydroxide conversion plans.

• Strong integrated mining and logistics capabilities provide a cost-competitive advantage.

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🔋 Outlook: The Lithium Frontier is Expanding and Evolving

The lithium chemicals market is at the heart of the global energy transition. While demand from lithium batteries continues to dominate growth trajectories, the industry itself is evolving to meet new challenges related to supply security, sustainability, and technological innovation.

📈 Key Trends Shaping the Market:

• Supply Chain Diversification: Heavy investment in new mining and processing projects outside of the dominant “lithium triangle” (Chile, Argentina, Bolivia) and China, particularly in North America, Australia, and Europe.

• Chemical Preference Shift: Growing demand for lithium hydroxide over lithium carbonate, driven by its suitability for high-nickel cathode chemistries that offer greater energy density for EVs.

• Vertical Integration: Major players are increasingly integrating backwards into mining and forwards into battery production to secure margins and supply.

• Sustainability Focus: Intensifying scrutiny on the environmental and social impact of lithium extraction, leading to innovations in direct lithium extraction (DLE) technologies and responsible sourcing standards.

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The companies leading this market are not just mining a mineral; they are powering the clean energy revolution and building the foundational materials for a sustainable future.