Lithium Hydroxide Prices

Lithium Hydroxide Prices December 2023

In Q4 of 2023, lithium hydroxide price in the USA experienced a decline of 36% transitioning from the 3rd quarter and a decrease of 74% from the previous year resulting in the figure of 19,115 USD/MT. The ongoing downward trend is reflecting a negative sentiment and the pre-eminent bearish outlook in the North American lithium hydroxide market is primarily attributed to the influx of supply, weak demand, and a stalled lithium carbonate market.

In Japan, lithium-hydroxide saw a decrease of 3.1% in price in November and again of 3.2% in December, leading to a decrease of 24% in that particular quarter, and 75% in the year-on-year figures. Due to the oversupply condition coupled with low demand resulting from the battery industry, the market was characterized by moderate to high supply and low to moderate demand. By the end of this quarter, CIF Osaka's price for lithium hydroxide Battery grade is 18320 USD/ MT.

In Belgium, lithium hydroxide prices dropped by 36% relative to the preceding quarter and 76% compared to the fourth quarter of 2023, finishing at 19015 USD/MT. This very significant decrease shows market conditions in Europe which are bearish because of low demand, decreased support for costs, and low-priced imports.

Lithium Hydroxide Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Lithium Hydroxide Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of lithium hydroxide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of lithium hydroxide at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of lithium hydroxide price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing lithium hydroxide price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Lithium Hydroxide Market Analysis

The global lithium hydroxide market size reached US$ 1.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 3.2 Billion, at a projected CAGR of 7.50% during 2023-2032.

• As governments worldwide intensify efforts to reduce carbon emissions and transition towards sustainable energy sources, the adoption of lithium-ion batteries powered by lithium hydroxide is witnessing a significant upswing.
• The proliferation of consumer electronics, such as smartphones, tablets, and laptops, is bolstering the demand for lithium hydroxide to meet the escalating need for efficient energy storage solutions.
• Continual technological advancements and innovations in battery chemistry are driving the development of high-performance lithium-ion batteries, further augmenting the demand for lithium hydroxide.
• The increasing focus on environmental sustainability is prompting manufacturers to explore eco-friendly production processes and materials, thereby promoting the growth of the market.
• Rapid urbanization and industrialization observed across emerging economies, leading to increased infrastructure development and the establishment of smart cities.
• The expanding telecommunications industry, driven by the proliferation of 5G technology and the Internet of Things (IoT), is contributing to the rising demand for lithium hydroxide.
• The healthcare sector is witnessing a growing adoption of medical devices and equipment powered by rechargeable batteries, such as wearable health monitors and portable medical instruments.
• The increasing integration of renewable energy sources like solar and wind power into the grid, there is a growing need for efficient energy storage solutions to mitigate intermittency and ensure grid stability.
• Continuous innovations in battery chemistry, electrode materials, and manufacturing processes are expected to enhance the energy density, safety, and affordability of lithium-ion batteries, thereby stimulating market growth for lithium hydroxide.
• The emergence of new end-use applications for lithium-ion batteries, such as grid-level energy storage for electric vehicle charging stations and backup power for critical infrastructure, further expands the market opportunities for lithium hydroxide suppliers.
• Strategic partnerships and collaborations between lithium hydroxide manufacturers and downstream industries, such as battery manufacturers, automotive companies, and electronics manufacturers, drive market expansion.

Lithium Hydroxide News

The report covers the latest developments, updates, and trends impacting the global lithium hydroxide market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in lithium hydroxide production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the lithium hydroxide price trend.

Latest developments in the lithium hydroxide industry:

• On February 20, 2024, Albemarle Corporation (NYSE: ALB) announced a multi-year agreement to supply BMW Group with battery-grade lithium hydroxide for electric vehicles (EVs), starting in 2025. This deal also includes a partnership to develop safer, more energy-dense lithium-ion batteries. Albemarle's Energy Storage President, Eric Norris, highlighted the collaboration as a step towards advancing clean energy. This marks their second agreement but the first to focus on joint research for lithium battery innovations.
• On March 6, 2024, Tianqi Lithium issued RMB 300 million of short-term financing bonds at a record low interest rate of 2.35% for 2024, achieving the highest registered bond amount and lowest issuance rate in corporate history. This issuance attracted substantial market interest, with a subscription rate over four times the full subscription needed, supported by lead underwriters Industrial Bank and Bank of China. The successful bond sale highlights Tianqi Lithium's strong market position and supports its high-quality development.
• On March 4, 2024, GanfengLithium and Pilbara Minerals Limited have inked a cooperation deal to conduct a joint Feasibility Study for a potential downstream conversion facility, boosting raw material supply for GanfengLithium, enhancing lithium compound production capacity, and diversifying production layout. This partnership aims to leverage technical and resource advantages to foster long-term growth in the lithium industry.

Product Description

Lithium hydroxide (LiOH) is a white hygroscopic crystalline material employed especially as a precursor in the manufacture of lubricating grease and the electrolyte in lithium-ion batteries. It is synthesized through the metathesis process where lithium carbonate (Li2CO3) dissolves in calcium hydroxide (Ca(OH)2). This could also be produced by adding lithium sulfate to barium hydroxide. Lithium hydroxide is available in two main forms: hydrate and anhydrous, the former containing a molecule of water inside.

It is highly reactive and acts as a sorbent for moisture, which makes lithium hydroxide so important for many industrial purposes. It is vital in the aerospace industry to purify air by removing carbon dioxide in breathing systems of this kind. The primary positive feature of lithium hydroxide is its involvement in the production of lithium salts which play the role of raw materials of lithium batteries. These batteries are those that are used to power electric vehicles (EVs) and which are also those that store energy in portable electronic devices and are therefore to the reduction of carbon emission and reliance on fossil fuels.

Also, lithium hydroxide is used in ceramics and some cement formulations to obtain the desired techniques. Its applications in these multiple sectors signal the potential to be widely used and the need for continuous innovation in industries pursuing technological progress and sustainability.

Regional Coverage

The report provides a detailed analysis of the lithium hydroxide market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the lithium hydroxide price trend.

Global Lithium Hydroxide Price

The report offers a holistic view of the global lithium hydroxide pricing trends in the form of lithium hydroxide price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of lithium hydroxide but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed lithium hydroxide demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Lithium Hydroxide Price

The European lithium-hydroxide market had a price fall in the last quarter of 2023 as a result of reduced demand for lithium-ion batteries and energy storage systems that were due to macroeconomic insecurities and a fall in business confidence. Nevertheless, the lithium carbonate pricing drop has affected the production price of lithium hydroxide. Brazilian producers were negatively affected as a result of cheap goods imported from the Chilean country, creating a dangerous environment for them.

This analysis can be extended to include detailed lithium hydroxide price information for a comprehensive list of countries.

North America Lithium Hydroxide Price

The lithium hydroxide commodities North American market in the fourth quarter of 2023 was affected by the great amount of supply resulting from abundant stocks and continuing flows of low-priced cargos. Such development consequently caused bearish market sentiment among the downstream industries that manufacture batteries and cathodes, and so there was minimal inquiry and also little enthusiasm to procure.

Specific lithium hydroxide historical data within the United States and Canada can also be provided.

Middle East and Africa Lithium Hydroxide Price

The report explores the lithium hydroxide pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on lithium hydroxide prices for countries can also be provided.

Asia Pacific Lithium Hydroxide Price

From the last quarter of 2023, the lithium hydroxide market was bearish in the APAC region because of the excess supply and low demand from the battery manufacturers of the local market which pushed the prices down. Reduced production charges via low-priced raw materials became another major factor, which also had an impact on the price fall. There was a considerable decline in lithium hydroxide prices in Japan during this age.

This lithium hydroxide price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Lithium Hydroxide Price

The analysis of lithium hydroxide prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of lithium hydroxide pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting lithium hydroxide price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The lithium hydroxide price charts ensure our clients remain at the forefront of the industry.