According to reports, the gallium market is projected to grow from USD 2.45 billion in 2024 to USD 21.53 billion by 2034, reflecting a CAGR of 24.3%.
In January 2024, the price of gallium was approximately $755.80 per kilogram. By March 2025, it had risen to around $950.50 per kilogram, marking a substantial increase.
Source: Statista https://www.statista.com/statistics/1443942/gallium-global-price/
Gallium compounds are used in semiconductor materials and optoelectronic devices such as laser diodes, LEDs, photodetectors, and solar cells. They are also applied in cancer and malaria chemotherapy, antimicrobial treatments, and dental materials.
Gallium-based semiconductors are crucial for next-generation defense technologies—including advanced radar, missile defense, and electronic warfare—but face significant supply chain risks due to China’s control of approximately 98% of global gallium production.
China has begun restricting exports of gallium, a critical input for the semiconductor industry, as tensions rise amid the ongoing chip war with the U.S. and Canada. A complete ban on Chinese gallium exports to the United States could result in an estimated $3.4 billion decrease in U.S. GDP, primarily impacting the semiconductor manufacturing sector.
China’s dominance in gallium production, accounting for approximately 98% of the global supply, poses significant risks to North American industries reliant on this critical mineral for semiconductor and defense applications.
Cesium is classified as a critical mineral by the U.S. Department of Energy, highlighting concerns over supply chain risks and its essential role in various energy technologies.
The global cesium market size is estimated to grow by USD 3.57 billion from 2024 to 2028, according to Technavio. The market is projected to grow at a CAGR of approximately 2.67% during the forecast period.
The cesium market size is expected to increase by 1,680.79 metric tons from 2022 to 2027, with North America projected to occupy a 37% market share, according to Technavio.
Sources:
https://www.maximizemarketresearch.com/market-report/global-cesium-market/89395/
https://www.prnewswire.com/news-releases/cesium-market-size-to-increase-by-1-680-79-mt-from-2022-to-2027–north-america-to-occupy-37-market-share-technavio-302069000.html
Grid Metals has signed a cesium supply agreement with Tanco, securing up to C$1.2 million in funding for drilling and project development at the Donner Property. The agreement includes an option to sell 10,000 tonnes of cesium-bearing material to Tanco at US$1,500 per tonne (≥5% Cs₂O), leveraging the only cesium processing plant in the Western world.
Additionally, the Tanco Mine—one of only three cesium processing facilities in the world and the only one in North America—is located just a four-hour drive away.
This provides a strategic preliminary processing and potential offtake partner for the cesium component of the resource basket. Its proximity to the Big Mack Project further enhances the project’s development potential and logistical efficiency.
Cesium and its compounds are increasingly utilized across various industries, including medical and pharmaceutical applications, where they are used in diagnostic imaging and targeted therapies.
Sources:
The global lithium market is projected to grow from USD 2.5 billion in 2023 to USD 6.4 billion in 2028 at a CAGR of 20.4% during the 2022-2028 period.
$2.2 Billion
2022
$2.5 Billion
2023
$6.4 Billion
CAGR 20.4%
202 to 2028
Global Market Source: https://www.marketsandmarkets.com/Market-Reports/lithium-metal-market-48900800.html
Surging Demand for Electric Vehicles (EVs):
The global shift toward sustainable transportation has led to a significant increase in electric vehicle (EV) adoption. Lithium-ion batteries, which are essential for EVs, have become the primary driver of lithium demand, accounting for approximately 87% of the market.
Global Lithium Supply: Key Players and U.S. Decline
Over 90% of global lithium production comes from Australia, Chile, China, and Argentina, with Australia leading in mining and China dominating refining. As of 2024, 66% of lithium is mined from ore, while 34% is extracted from brine. U.S. production has declined from 27% in 1996 to less than 1% in 2023, emphasizing the urgent need for a domestic supply to meet electric vehicle (EV) and energy storage demand
Gigafactory Growth vs. Lithium Supply by 2030
By 2030, if all announced gigafactories come online as planned, only 36% of global production capacity will be utilized—unless significant investments are made in lithium supply chains.
Global gigafactory pipeline passes the 300 mark.
Mid Stream
Cathode and Anodes
China is home to 148 of the 200 battery megafactories in the pipeline for 2030.
Downstream Lithium-ion
Battery Cells
Australia, Chile, and China collectively account for 88% of global lithium production.
For geothermal or oilfield brines to succeed as a source of lithium supply, a proven process for DLE will be required. There are a number of companies testing various DLE approaches.
This low-grade spodumene concentrate can be brought to the market with a very short lead time (less than a year for a brownfield project), with resulting sales contributing toward the construction of a full-scale spodumene processing plant.
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