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Battery Material Mining in Australia Industry Data and Analysis
The global adoption of electric vehicles (EVs), driven by environmental consciousness, advances in battery technology, and declining prices, has accelerated demand for battery materials, especially lithium. This growing need is reflected in elevated lithium prices, triggering an upsurge in lithium production and exploration activities. However, because of oversupply, lithium prices have plunged from their peak in 2022-23, adversely impacting battery material miners' revenue and profitability in the two years through 2024-25. Australian lithium miners are moving downstream, refining spodumene concentrate into pure lithium products like lithium hydroxide to capture more value. Overall, industry revenue has grown at an annualised 29.1% over the past five years to $6.3 billion. This includes a plunge of 38.5% in 2024-25, as lithium export prices continue to plummet.
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What's included in this industry analysis
IBISWorld's research coverage on the Battery Material Mining industry in Australia includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released December 2024.
About this industry
What's this industry report about?
The Battery Material Mining industry in Australia operates under the ANZSIC industry code OD5541. Industry companies primarily mine the ores required for battery manufacturing, including lithium, cobalt and other elements. These firms also conduct basic processing tasks like crushing and screening the mined ores to separate valuable minerals from the rock. Related terms covered in the Battery Material Mining industry in Australia include li-ion, new energy vehicles (nevs) and spodumene.
What's included in this industry?
Products and services covered in Battery Material Mining industry in Australia include Lithium, Cobalt and Other minerals.
What companies are included in this industry?
Companies covered in the Battery Material Mining industry in Australia include Windfield Holdings, PLS and Mineral Resources.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Battery Material Mining industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Battery Material Mining industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Battery Material Mining industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Battery Material Mining industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Battery Material Mining industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Battery Material Mining industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Battery Material Mining industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Battery Material Mining industry in Australia.
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Frequently Asked Questions
What is the market size of the Battery Material Mining industry in Australia in 2026?
The market size of the Battery Material Mining industry in Australia is $6.3bn in 2026.
How many businesses are there in the Battery Material Mining industry in Australia in 2024?
There are 26 businesses in the Battery Material Mining industry in Australia, which has grown at a CAGR of 2.5 % between 2019 and 2024.
How may import tariffs affect the Battery Material Mining industry in Australia?
The Battery Material Mining industry in Australia is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Battery Material Mining industry in Australia?
The Battery Material Mining industry in Australia is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Battery Material Mining industry in Australia grown or declined over the past 5 years?
The market size of the Battery Material Mining industry in Australia has been growing at a CAGR of 29.1 % between 2019 and 2024.
What is the forecast growth of the Battery Material Mining industry in Australia over the next 5 years?
Over the next five years, the Battery Material Mining industry in Australia is expected to grow.
What are the biggest companies in the Battery Material Mining industry in Australia?
The biggest companies operating in the Battery Material Mining industry in Australia are Windfield Holdings, PLS and Mineral Resources
What does the Battery Material Mining industry in Australia include?
Lithium and Cobalt are part of the Battery Material Mining industry in Australia.
Which companies have the highest market share in the Battery Material Mining industry in Australia?
The company holding the most market share in the Battery Material Mining industry in Australia is Windfield Holdings.
How competitive is the Battery Material Mining industry in Australia?
The level of competition is moderate and increasing in the Battery Material Mining industry in Australia.
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