The second China International Lithium Industry Conference 2025, hosted by the China Nonferrous Metals Industry Association and co-organized by TIANQI LITHIUM, was held in Chengdu, Sichuan, from November 24 to 26. The event focused on four key themes: stabilizing supply, strengthening supply chains, fostering innovation, and pursuing mutual benefits. Discussions centered on technological advancements, global collaboration, and supply chain resilience under new market conditions. Notably, the unexpectedly strong growth in the energy storage market and progress in solid-state battery industrialization emerged as major highlights.
After a sluggish first half of the year, lithium prices have gradually rebounded. Currently, both futures and spot prices for lithium carbonate have risen above CNY 90,000 per ton. Industry experts are optimistic about future supply-demand dynamics, with energy storage growth standing out as a key market driver.
Yang Chengxiao, Vice President and Head of Research at Minmetals Securities, noted that energy storage has passed its economic inflection point and entered a rapid growth phase. Global energy storage installations are projected to reach 268GWh in 2025, marking a 48% year-on-year increase, with an expected compound annual growth rate exceeding 20% over the next decade. Meanwhile, the global market for new energy vehicles still holds three to four times growth potential. However, lithium supply expansion faces constraints from pricing, demand orders, corporate funding, shipping capacity, and government policies. Overall, lithium carbonate supply and demand are expected to reach a tight balance by 2026.
Zhang Jiangfeng, Vice Chairman of the Lithium Branch of the China Nonferrous Metals Industry Association, highlighted three positive factors: depleted inventories, strong demand growth, and cost support. With inventory-to-sales ratios declining, lithium prices are gaining upward momentum. Long-term tight supply-demand conditions are likely to push lithium prices higher, potentially ushering in a new industry upcycle, though short-term volatility may intensify due to multiple influencing factors.
"Policy support and technological innovation are creating new opportunities for the lithium industry," said Jiang Anqi, Chairperson of TIANQI LITHIUM. Demand for lithium materials from energy storage and EV battery sectors continues to rise, with global lithium demand projected to reach 2 million metric tons of lithium carbonate equivalent (LCE) by 2026—achieving a balanced market. Breakthroughs in next-generation high-energy-density battery technologies, particularly solid-state batteries, along with progress in electrification across carbon-reduction sectors, are driving positive industry developments.
Beyond energy storage, innovative technologies like solid-state batteries drew significant attention at the conference. TIANQI LITHIUM unveiled a new lithium sulfide product, which directly impacts electrolyte electrochemical performance. Liu Yang, Head of TIANQI LITHIUM Research Institute, stated that cost reductions and performance improvements in lithium sulfide materials will accelerate solid-state battery adoption, supporting transportation electrification and renewable energy integration.
Companies across the lithium battery supply chain are advancing solid-state battery industrialization. For instance, Gotion High-tech has completed pilot production and internal vehicle testing for its all-solid-state battery, with plans to finalize a 2GWh production line design by year-end. CATL maintains strong R&D investment in solid-state batteries, targeting small-scale production by 2027. Ganfeng Lithium Group developed a 304Ah solid-state energy storage battery in H1 2025, with 314Ah and 392Ah models slated for launch by year-end.
Industry analysts emphasize that solid-state batteries, with their superior safety and energy density, represent a critical next-generation technology. Companies leading in R&D and demonstrating industrialization potential warrant investor attention. However, challenges remain in enhancing conductivity, improving interface stability, and reducing manufacturing costs—key areas requiring cross-industry innovation to enable large-scale commercialization.
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