8 Largest Lithium Companies by Market Cap (March 2025)
In 2024, battery production accounted for 87% of global lithium consumption, with demand expected to rise to 94% by 2030, driven by a 25-fold increase in EV adoption. Global lithium demand is projected to surge from 720,000 metric tons in 2022 to 3.1 million metric tons by 2030, with lithium carbonate equivalent demand rising 53% from 2023 to 2025. Leading producers include Sociedad Química y Minera (SQM) ($10.53B market cap), Ganfeng Lithium ($9.30B), and Albemarle ($8.48B), all expanding production to meet demand. SQM plans 240,000 metric tons of lithium carbonate annually by 2025, while Ganfeng targets 1 million tonnes of spodumene concentrate. Albemarle’s U.S. expansion aims for 50,000 metric tons of battery-grade lithium hydroxide annually. China, Chile, and Australia remain dominant in production, as industry leaders increase capacity to support the global shift to EVs and renewable energy.