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China Lithium Battery Cathode Material Market Insight Report, 2021-2025

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  • 149 Pages
  • April 2021
  • Region: China
  • AEI Research
  • ID: 5359656
In 2020, China's cathode materials shipped 510,000 tons, up 27% year-on-year. After the market downturn in the first half of the year, the shipment volume can still increase by more than 20%, which is inseparable from the rapid recovery of the new energy vehicle market in the second half of the year.

From the perspective of growth drivers, the main reasons driving the growth of cathode material shipments throughout the year are: 1) Despite the sluggish demand in the first half of the year, driven by a series of policies in the middle of the year, the market recovered rapidly in the second half of the year, and the shipments of cathode materials in the third and fourth quarters increased by more than 30% year-on-year, driving the annual shipment growth; 2) Since the second quarter, the domestic epidemic situation has been gradually controlled, and the resumption of production of enterprises has accelerated. In addition, the demand for downstream terminals has recovered beyond expectations in the third and fourth quarters, and the second half of the year is the traditional consumption peak season, which drives the shipment of lithium battery market to increase by more than 160% month-on-month, which in turn drives the positive electrode. Material shipments increased; 3) Under the pressure of subsidies and carbon credits, the annual sales volume of new energy vehicles in Europe increased by more than 100%, which boosted the shipments of overseas battery companies such as LG, Ningde Times, SKI and SDI, which in turn led to the growth of domestic cathode material shipments. The export of some domestic cathode material companies even accounted for more than half of the company's shipments; 4) Due to the impact of the epidemic, the demand for tablet computers and notebooks for home and office use in the world has increased significantly. The demand for terminals such as superimposed 5G mobile phone redemption, TWS and smart wear has increased, and the demand for lithium cobaltate batteries has increased, which in turn drives the market demand for cathode materials. Growth in market demand; 5) The market of power tools (including sweeping robots, etc.) has been transferred to China by foreign industrial chains, and the impact of foreign epidemics has led terminal enterprises to increase the production of wireless power tools. In 2020, lithium batteries for power tools will increase by over 50% year-on-year, driving the demand for cathode materials. increase; 6) In 2020, the overall growth rate of energy storage and small power market segments will exceed 50%, which will drive up the demand for upstream batteries and cathode materials.

From the perspective of product shipment structure, the proportion of ternary materials in the field of cathode materials declined slightly in 2020, and the proportion of lithium iron phosphate increased from 22% to 25%. The main reasons are: 1) Subsidies continue to decline, and the pressure on battery companies to reduce costs increases. Lithium iron phosphate materials have lower costs and obvious cost performance advantages, and some models accelerate the route from ternary to lithium iron; 2) The mainstream battery companies represented by CATL, BYD and Guoxuan Hi-Tech have developed CTP, blade and JTM technologies to improve the energy density of battery packs, reduce costs, improve the cruising range of new energy vehicles equipped with lithium iron phosphate batteries and improve the problem of insufficient battery life; 3) Lithium iron phosphate battery has higher safety than ternary battery, and the safety problem is paid more and more attention and emphasized, and the safety advantage of lithium iron phosphate is reflected again; 4) In the second half of the year, the iron and lithium models were released centrally (including BYD Han, Iron and Lithium model 3, Wuling Hongguang mini EV, Euler Good Cat, Benben E-STAR, etc.), and most of them were explosive models throughout the year, driving the installed capacity of iron and lithium batteries to increase. In addition, the Ministry of Industry and Information Technology and other ministries and commissions promoted new energy vehicles to go to the countryside, which led to an increase in sales of price-sensitive A00 and A0 cars, which were mainly loaded with iron and lithium batteries5) In 2020, the market of small power (including shared motorcycles and electricity exchange) was driven by both export and domestic demand, and the shipment volume increased by over 80% year-on-year, of which iron-lithium batteries accounted for about 30%; Driven by the improvement of foreign domestic storage market and energy storage shipment at the base station side, the shipment of lithium energy storage batteries increased by more than 50% year-on-year, and lithium iron batteries were basically used. The above fields also led to an increase in the proportion of lithium iron phosphate materials.

From the perspective of market competition, compared with cathode, separator and electrolyte, the market concentration of cathode material is relatively low, and the TOP10 of cathode material accounts for only 56%; From the perspective of market segments, the proportion of TOP5 of lithium iron phosphate materials increased by nearly 9 percentage points to 83.4%. The main reasons for the high market concentration of lithium iron phosphate materials are: 1) Affected by the state's early subsidy policy, the focus of the new energy vehicle power battery market shifted to ternary batteries, which led to a decline in the demand for lithium iron phosphate batteries and materials related industrial chains, resulting in a significant reduction in the number of upstream lithium iron phosphate materials enterprises; 2) The energy density and cruising range of lithium iron phosphate batteries are weaker than three yuan, the market demand for lithium iron phosphate batteries is less, and the market discourse power of lithium iron phosphate materials enterprises is weak, resulting in fewer business enterprises. When the demand for lithium iron phosphate materials increases sharply in 2020, the number of enterprises that can provide cost-effective materials is limited, so the concentration is high; 3) Affected by the demand of early battery enterprises, some iron and lithium materials factories have been adjusted, and their products have stronger competitiveness and advantages. The proportions of lithium cobaltate, lithium manganate and ternary material TOP5 are 84%, 46% and 43%, and the concentration of ternary material is the lowest at present.

Table of Contents

1 China's lithium battery cathode material market overview
1.1 Characteristics of China's Cathode Material Industry in 2020
1.2 China's cathode material market size and shipments in 2020
1.2.1 market size of China's cathode materials
1.2.2 shipments of cathode materials in China
1.2.3 product structure of cathode materials in China
1.2.4 prices of cathode materials in China
1.2.5 Analysis of Factors Affecting the Price of Cathode Materials
1.2.6 ranking of production capacity of Chinese cathode material enterprises
1.3 overview of the number of Chinese cathode material enterprises
1.3.1 the number and changes of Chinese cathode material manufacturers
1.3.2 regional distribution characteristics of Chinese cathode material enterprises
1.3.3 List of Major Positive Electrode Materials Enterprises and Product Types in China
2. Introduction of upstream mineral resources of main cathode materials
2.1 distribution analysis of mineral resources reserves
2.2 upstream mineral material price development trend and influencing factors analysis
3 China's nickel cobalt lithium manganate (NCM) market analysis4. Market analysis of lithium iron phosphate (LFP) in China5 China lithium manganate (LMO) market analysis6 Market Analysis of Lithium Cobaltate (LCO) in China
7. Analysis of development status of 7 new cathode materials
7.1 lithium nickel cobalt manganese aluminate
7.2 Lithium-rich manganese base
7.3 lithium manganese iron phosphate
7.4 Analysis of Development Status of Other Cathode Materials

Companies Mentioned

  • Hunan Shanshan Advanced Material Co., Ltd.
  • Beijing Easpring Material Technology Co., Ltd.
  • Xiamen Tungsten Co., Ltd.
  • GEM
  • Fujian Zhonghe Co., Ltd.
  • Kingray New Materials Science & Technology Co., Ltd.
  • Ningbo Jinhe New Materials Co., Ltd.
  • Tianjiao Technology Development Co., Ltd.
  • Xinxiang Tianli Energy Co., Ltd.
  • Henan Kelong New Energy Co., Ltd.
  • Hunan ChangyuanLico Co., Ltd.
  • Pulead Technology Industry Co., Ltd.
  • Hunan Reshine New Material Co., Ltd.