U.S. Lithium Market Size Worth USD 3.69 Billion by 2034 | CAGR: 12.48%

The U.S. Lithium market size is expected to reach USD 3.69 billion by 2034, according to a new study by Polaris Market Research. The report “U.S. Lithium Market Share, Size, Trends, Industry Analysis Report By Product (Carbonates, Hydroxide, Others), By Application (Automotive, Consumer Electronics, Grid Storage, Glass & Ceramics, Others); Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Lithium is a soft, silvery-white alkali metal, highly reactive and lightweight. It exists in two primary types: lithium carbonate and lithium hydroxide, both of which are crucial for industrial applications. Lithium is widely used in rechargeable batteries for electric vehicles (EVs), smartphones, and laptops due to its high energy density. It also plays a role in ceramics, glass, and pharmaceuticals, particularly for mood-stabilizing drugs such as lithium carbonate. Lithium’s importance in battery technology has surged, making it a critical mineral for the global transition to renewable energy and reduced carbon emissions.

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The U.S. has significant lithium reserves, primarily in Nevada, California, and North Carolina, but domestic production remains limited. Most U.S. lithium is imported from Chile, Argentina, and Australia. Projects such as the Thacker Pass mine in Nevada aim to boost domestic supply to meet growing EV and renewable energy demands. The U.S. government supports lithium extraction through initiatives such as the Inflation Reduction Act, emphasizing energy independence. However, environmental concerns and regulatory hurdles challenge rapid expansion.

Top of FormU.S. Lithium Market Report Highlights

• In terms of product, the carbonate segment accounted for a 50% U.S. lithium market share in 2024 due to its extensive use in lithium-ion battery manufacturing, particularly for consumer electronics and electric vehicles.
• The hydroxide segment is expected to grow at a rapid pace from 2025 to 2034, owing to its superior compatibility with high-nickel cathode chemistries such as NCM 811, which deliver higher energy density and longer battery life.
• Based on application, the automotive segment held the largest market share in 2024 due to rising EV production to meet stringent emission regulations and to align with national clean energy goals.
• The consumer electronics segment is expected to register the highest CAGR from 2025 to 2034, owing to the growing usage of smartphones, laptops, wearables, and other connected devices.
• A few key market players include Albemarle Corp., American Lithium Corp., Arcadium Lithium, Atlas Lithium Corp, Kore Power, Lithium Americas Corp., Livent Corp., Piedmont Lithium, Sigma Lithium Corp, and Tesla.

Polaris Market Research has segmented the U.S. lithium market report on the basis of product and application:

By Product Outlook (Revenue, USD Billion, Volume, Kilotons, 2020–2034)

• Carbonates
• Hydroxide
• Others

By Application Outlook (Revenue, USD Billion, Volume, Kilotons, 2020–2034)

• Automotive
• Consumer Electronics
• Grid Storage
• Glass & Ceramics
• Others