Forecast: Import of Lithium Carbonates to Viet Nam

The import volume of lithium carbonates to Vietnam has shown significant growth since 2013. The actual value in 2023 stood at 607.75 thousand kilograms, reflecting a steady increase with an average year-on-year variation of 5.15% over the last two years. This follows a more modest CAGR of 6.06% over the last five years, indicating a deceleration compared to the initial rapid growth stages during the early 2010s.

Future projections suggest a continued but slower growth rate, with an expected 5-year CAGR of 3.2%, anticipating a 17.07% increase by 2028. This reflects a maturing market where the growth rate stabilizes after the initial expansion phase.

Trends to watch for:

• Technological advancements in lithium extraction and processing.
• Shifts in global demand for lithium-ion batteries, particularly from electric vehicle manufacturers.
• Vietnam’s domestic energy policies and incentives for renewable energy development.
• Geopolitical factors affecting the global supply chain of lithium carbonates.