Research on in-depth dismantling of the lithium battery industry chain
Table of Contents
New Energy Vehicle (BEV+PHEV) has been launched before 2010. Since 2012, the sales of new energy vehicles in the world have risen rapidly from 125,000 to 3.24 million vehicles in 2020. It is expected that it is expected to exceed 6 million vehicles in 2021.
And it is relevant to lithium battery industry. According to data, the sales of world new energy vehicles from January to September 2021 reached 4.3 million vehicles, and the cumulative penetration rate reached 7%, of which a monthly sales volume reached 685,000, and the monthly penetration rate reached 10.2%. Let’s find out the relationship between lithium battery industry and new energy vehicles.
Big change of lithium battery of the world
Chinese market
In 2021, China’s new energy vehicle sales continued to grow high. In recent years, China’s new energy vehicle sales have maintained a positive growth trend. China has made great progress in lithium battery industry.
With the launch of new models of various car companies in 2021, the new energy vehicle consumer market still shows a hot trend. From January to October 2021, China’s new energy vehicle sales reached 2.566 million, an increase of 177% year-on-year.
European market
According to data, only 21% of the passenger cars registered in the European Union in 2020 meet standard carbon emission standards. From 2035, zero discharge of automobiles will be achieved, and the comprehensive transformation of automotive electrification will be achieved. And, European countries focus on lithium battery industry to find more ways to support new energy vehicles.
US market
The overall development of new energy vehicles in the US market is relatively slow, and sales in 2021 ushered in rapid growth. Different from the rapid development of European and Chinese new energy vehicles, the overall growth rate of new energy vehicles in the United States market is relatively slow. Lithium battery industry is also well developed in American countries.
The sales volume in 2020 is only 330,000 units, and the penetration rate is 2.3%. The overall sales volume in 2021 has been accelerated. In the first three quarters, the cumulative sales reached 435,000 units. The sales volume was expected to exceed 600,000 units throughout the year.
The electrification process of American local car companies and overseas car companies is expected to speed up. U.S. car companies accelerate the process of electrification. Ford planned to 40%of the electrification rate in 2030. In 2035, it achieved zero-emission of light vehicle. At the same time, the battery production company was established with SKI and LG, respectively.
On the other hand, European, Japanese, and Korean car companies have also increased their investment in the US market. Half of the car sold in the United States in 2030 is a full electric model. Honda’s 2040 North America’s electrification rate reached 100%. Hyundai is in modern times. Before 2025, it invested 7.4 billion U.S. dollars in the US market to lay out electrified transformation.
Chinese battery industry chain becomes world leader
Under the trend of automotive electrification, world power battery installed capacity rose rapidly. Benefiting from the rapid advancement of vehicles in China and European markets, the world’s new energy vehicle sales have risen rapidly since 2016. And they all have relevance with lithium battery industry.
This has been driven by the installed capacity of power batteries represented by lithium iron phosphate and three RMB batteries. In the first three quarters of 2021, the world power battery installed capacity reached 195.4GWh, an increase of 131%year -on -year. The corresponding Chinese power battery installed capacity reached 92GWh, an increase of 169%year -on -year, exceeding the world’s average growth rate, and occupying nearly half of the world’s battery installation volume.
Chinese companies later ranked up, and Ningde Times ranked first in the World Power Battery Shipping List. Ningde Times has occupied the top of the world’s power battery shipments for many years in a row. In 2020, its world market share reached 24%. In 2021, the market share of the company’s market share in the company’s volume of overseas customers has risen steadily and further open the gap with the latter enterprise.
Generally speaking, the top ten power battery companies in the world are exclusively of the five seats in Chinese companies, including Ningde Times, BYD, Guoxuan Hi -Tech, AVIC Lithium Corporation, Vision Energy, etc. The remaining five power battery companies are distributed in Japan and South Korea, which once again reflects the strong market position of China, Japan and South Korea in the field of lithium battery industry.
The lithium battery industry has accelerated the reshuffle, and the concentration of the industry has continued to increase. In 2016, there were more than 300 power battery companies in China, and by September 2021, a total of 54 power battery companies in China New Energy Vehicle Market achieved car loading facilities, which was further reduced from the same period last year. But it is still a promising future for lithium battery industry.
From the perspective of industry concentration, since 2017, the top ten companies in China’s power battery installed capacity have steadily increased. 73.0%, 83.6%, 91.7%. Similar to the Chinese market, the world’s power battery installed capacity also shows a concentration improvement trend, and the total market share of CR10 exceeds 90%. And lithium battery industry is well developed.
Mainstream of battery materials
Cathode materials
The shipments of positive electrode materials have steadily increased, and the proportion of lithium iron phosphate shipments has increased significantly. Benefiting from the demand for downstream power batteries, the shipments of the positive pole materials in the first half of 2021 reached 475,000 tons.
Among them, lithium iron phosphate has benefited from the increase in the amount of downstream installation, and the overall proportion increased to 37%. The shipment of three RMB orthopedic materials reached 190,000 tons, accounting for 40%, and power battery materials are still the main contribution in lithium battery industry.
Rongbai Technology has three RMB lead, and Germany’s lithium iron phosphate leads the lead. Despite the overall market competition pattern, the competition pattern of positive material materials is relatively scattered.
Subdiviring of iron phosphate and three RMB positive areas, seeing Rongbai Technology, Bamo Technology, Dangsheng Technology, Long -term Lithium and Zhenhua New Materials are in the leading position in the three RMB positive poles, German nano, Hunan Yuneng, Hubei, Hubei Wanrun and Longxuan Technology (formerly betreyl phosphate assets) are in the leading position of lithium iron phosphate.
Anode materials
Artificial graphite still occupies the main share of negative materials. In the first half of 2021, the shipments of negative electrode materials reached 332,000 tons, of which the number of artificial graphite shipments accounted for 85%, still occupying the main market share in lithium battery industry.
Different from the production of natural graphite, artificial graphite raw materials are mainly products such as needle -shaped coke, petroleum coke, etc. In the process of processing into the process of processing, they need to go through a graphite process, that is, thermal activation will be realized by the unstable carbon atoms of thermodynamics from chaos.
The orderly transformation of the structure to the graphite crystal structure. At present, graphite processing costs account for 50%of the cost of artificial graphite. In order to further reduce production costs, Shan Shan, Betry, Kaijin Energy, Pu Tailai, Zhongke Electric, Xiangfenghua, Betrey and other artificial graphite companies can reduce outside the way of self -built or acquired graphite production capacity to reduce foreign outside. Coordinated processing parts to improve profitability.
Dividation
Ensic Co., Ltd. leads the industry, and the proportion of second -line companies in the context of the supply and demand pattern is expected to increase. From the perspective of shipments in the first three quarters of 2021, the shipments of Enjie (including Suzhou Jieli and Chongqing Newmi) accounted for 39%, which continued to rank first in the lithium battery industry.
In addition, old -fashioned diaphragm companies such as Jinli and Cangzhou Pearl of Hebei are also on the list. We believe that in the context of the current overall production capacity of the diaphragm, the overall capacity utilization rate of some old -fashioned enterprises is expected to increase significantly, and the operating conditions ushered in the dual catalyst with rising volume and price in lithium battery industry..
Electrolytic solution
The prices of lithium salt, additives and other raw materials have increased significantly, and the advantages of integrated layout of the industrial chain are prominent. Since 21 years, in addition to the rise in the price of lithium hexofluorophosphate, the price of electrolyte additives represented by VC has also risen significantly.
Affected by this affects the rapid increase in the cost of electrolytes. Generally speaking, Tianci Materials benefits the most obvious layout in the field of lithium hexasifluorophosphate and additives. The level of electrolyte gross margin has been significantly improved in the first half of 2021. Both the new and Shan Shan and Shanshan shares have the layout in other links, while Jiangsu Cathay Pacific passed through the passage of Cathay Pacific. The form of long orders reduces the effects of lithium hex fluoride price fluctuations.
Lithium electric trends
With the common efforts of the Chinese, European and North American markets, the sales volume of world new energy vehicles in 2022 is expected to reach 10 million units. Among them, the Chinese market is expected to continue to occupy about half of the world’s market share with the driving force of consumption. The overall market is expected to gradually rise.
Affected by the rise in raw materials, the cost of power batteries rose significantly. Since 2021, the downstream demand for new energy vehicles has continued to improve, the demand for battery materials has risen significantly, and some of which have a serious mismatch on the supply and demand structure in lithium battery industry..
Due to this affected the prices of core lithium battery materials, the prices of core materials of lithium battery industry have risen. Specifically, the price of PVDF, lithium hexfluorophosphate, lithium lithium carbonate and other products have risen by this. The prices of direct materials of the two major batteries of positive electrode materials and electrolytes have risen significantly.
Lithium iron phosphate installation increases
Lithium iron phosphate battery installed capacity and proportion of proportion show an upward trend. Affected by the decline in China’s new energy vehicle subsidy policy, China’s power battery installed capacity was 63.64GWh in 2020, a year-on-year increase of 2%. Since 2017, high -energy density -oriented subsidy policies have impacted the demand for lithium iron phosphate battery industry.
However, at present, the low cost and high -safety performance advantages of lithium iron phosphate batteries are prominent. In 2020, the installed volume of lithium iron phosphate batteries was 24.4GWh, accounting for 38.3%of the total installed capacity, an increase of 20.6%year -on -year. In the first three quarters of 2021, the amount of iron phosphate was 44.8GWh, an increase of 332% year-on -year, accounting for 48.7% of the total installation capacity, and the proportion of single -month installation in September had reached 57.8%.
Summary
Energy storage can be applied to grid transmission and assisted services, renewable energy grids, distributed and micro -networks, and user -side parts in lithium battery industry. In the traditional power system, the power output curve is relatively stable. In this context, the configuration energy storage will be effective, smooth and renewable, absorb excess electricity, and connected immediately.
Research on in-depth dismantling of the lithium battery industry chain
New Energy Vehicle (BEV+PHEV) has been launched before 2010. Since 2012, the sales of new energy vehicles in the world have risen rapidly from 125,000 to 3.24 million vehicles in 2020. It is expected that it is expected to exceed 6 million vehicles in 2021.
And it is relevant to lithium battery industry. According to data, the sales of world new energy vehicles from January to September 2021 reached 4.3 million vehicles, and the cumulative penetration rate reached 7%, of which a monthly sales volume reached 685,000, and the monthly penetration rate reached 10.2%. Let’s find out the relationship between lithium battery industry and new energy vehicles.
Big change of lithium battery of the world
Chinese market
In 2021, China’s new energy vehicle sales continued to grow high. In recent years, China’s new energy vehicle sales have maintained a positive growth trend. China has made great progress in lithium battery industry.
With the launch of new models of various car companies in 2021, the new energy vehicle consumer market still shows a hot trend. From January to October 2021, China’s new energy vehicle sales reached 2.566 million, an increase of 177% year-on-year.
European market
According to data, only 21% of the passenger cars registered in the European Union in 2020 meet standard carbon emission standards. From 2035, zero discharge of automobiles will be achieved, and the comprehensive transformation of automotive electrification will be achieved. And, European countries focus on lithium battery industry to find more ways to support new energy vehicles.
US market
The overall development of new energy vehicles in the US market is relatively slow, and sales in 2021 ushered in rapid growth. Different from the rapid development of European and Chinese new energy vehicles, the overall growth rate of new energy vehicles in the United States market is relatively slow. Lithium battery industry is also well developed in American countries.
The sales volume in 2020 is only 330,000 units, and the penetration rate is 2.3%. The overall sales volume in 2021 has been accelerated. In the first three quarters, the cumulative sales reached 435,000 units. The sales volume was expected to exceed 600,000 units throughout the year.
The electrification process of American local car companies and overseas car companies is expected to speed up. U.S. car companies accelerate the process of electrification. Ford planned to 40%of the electrification rate in 2030. In 2035, it achieved zero-emission of light vehicle. At the same time, the battery production company was established with SKI and LG, respectively.
On the other hand, European, Japanese, and Korean car companies have also increased their investment in the US market. Half of the car sold in the United States in 2030 is a full electric model. Honda’s 2040 North America’s electrification rate reached 100%. Hyundai is in modern times. Before 2025, it invested 7.4 billion U.S. dollars in the US market to lay out electrified transformation.
Chinese battery industry chain becomes world leader
Under the trend of automotive electrification, world power battery installed capacity rose rapidly. Benefiting from the rapid advancement of vehicles in China and European markets, the world’s new energy vehicle sales have risen rapidly since 2016. And they all have relevance with lithium battery industry.
This has been driven by the installed capacity of power batteries represented by lithium iron phosphate and three RMB batteries. In the first three quarters of 2021, the world power battery installed capacity reached 195.4GWh, an increase of 131%year -on -year. The corresponding Chinese power battery installed capacity reached 92GWh, an increase of 169%year -on -year, exceeding the world’s average growth rate, and occupying nearly half of the world’s battery installation volume.
Chinese companies later ranked up, and Ningde Times ranked first in the World Power Battery Shipping List. Ningde Times has occupied the top of the world’s power battery shipments for many years in a row. In 2020, its world market share reached 24%. In 2021, the market share of the company’s market share in the company’s volume of overseas customers has risen steadily and further open the gap with the latter enterprise.
Generally speaking, the top ten power battery companies in the world are exclusively of the five seats in Chinese companies, including Ningde Times, BYD, Guoxuan Hi -Tech, AVIC Lithium Corporation, Vision Energy, etc. The remaining five power battery companies are distributed in Japan and South Korea, which once again reflects the strong market position of China, Japan and South Korea in the field of lithium battery industry.
The lithium battery industry has accelerated the reshuffle, and the concentration of the industry has continued to increase. In 2016, there were more than 300 power battery companies in China, and by September 2021, a total of 54 power battery companies in China New Energy Vehicle Market achieved car loading facilities, which was further reduced from the same period last year. But it is still a promising future for lithium battery industry.
From the perspective of industry concentration, since 2017, the top ten companies in China’s power battery installed capacity have steadily increased. 73.0%, 83.6%, 91.7%. Similar to the Chinese market, the world’s power battery installed capacity also shows a concentration improvement trend, and the total market share of CR10 exceeds 90%. And lithium battery industry is well developed.
Mainstream of battery materials
Cathode materials
The shipments of positive electrode materials have steadily increased, and the proportion of lithium iron phosphate shipments has increased significantly. Benefiting from the demand for downstream power batteries, the shipments of the positive pole materials in the first half of 2021 reached 475,000 tons.
Among them, lithium iron phosphate has benefited from the increase in the amount of downstream installation, and the overall proportion increased to 37%. The shipment of three RMB orthopedic materials reached 190,000 tons, accounting for 40%, and power battery materials are still the main contribution in lithium battery industry.
Rongbai Technology has three RMB lead, and Germany’s lithium iron phosphate leads the lead. Despite the overall market competition pattern, the competition pattern of positive material materials is relatively scattered.
Subdiviring of iron phosphate and three RMB positive areas, seeing Rongbai Technology, Bamo Technology, Dangsheng Technology, Long -term Lithium and Zhenhua New Materials are in the leading position in the three RMB positive poles, German nano, Hunan Yuneng, Hubei, Hubei Wanrun and Longxuan Technology (formerly betreyl phosphate assets) are in the leading position of lithium iron phosphate.
Anode materials
Artificial graphite still occupies the main share of negative materials. In the first half of 2021, the shipments of negative electrode materials reached 332,000 tons, of which the number of artificial graphite shipments accounted for 85%, still occupying the main market share in lithium battery industry.
Different from the production of natural graphite, artificial graphite raw materials are mainly products such as needle -shaped coke, petroleum coke, etc. In the process of processing into the process of processing, they need to go through a graphite process, that is, thermal activation will be realized by the unstable carbon atoms of thermodynamics from chaos.
The orderly transformation of the structure to the graphite crystal structure. At present, graphite processing costs account for 50%of the cost of artificial graphite. In order to further reduce production costs, Shan Shan, Betry, Kaijin Energy, Pu Tailai, Zhongke Electric, Xiangfenghua, Betrey and other artificial graphite companies can reduce outside the way of self -built or acquired graphite production capacity to reduce foreign outside. Coordinated processing parts to improve profitability.
Dividation
Ensic Co., Ltd. leads the industry, and the proportion of second -line companies in the context of the supply and demand pattern is expected to increase. From the perspective of shipments in the first three quarters of 2021, the shipments of Enjie (including Suzhou Jieli and Chongqing Newmi) accounted for 39%, which continued to rank first in the lithium battery industry.
In addition, old -fashioned diaphragm companies such as Jinli and Cangzhou Pearl of Hebei are also on the list. We believe that in the context of the current overall production capacity of the diaphragm, the overall capacity utilization rate of some old -fashioned enterprises is expected to increase significantly, and the operating conditions ushered in the dual catalyst with rising volume and price in lithium battery industry..
Electrolytic solution
The prices of lithium salt, additives and other raw materials have increased significantly, and the advantages of integrated layout of the industrial chain are prominent. Since 21 years, in addition to the rise in the price of lithium hexofluorophosphate, the price of electrolyte additives represented by VC has also risen significantly.
Affected by this affects the rapid increase in the cost of electrolytes. Generally speaking, Tianci Materials benefits the most obvious layout in the field of lithium hexasifluorophosphate and additives. The level of electrolyte gross margin has been significantly improved in the first half of 2021. Both the new and Shan Shan and Shanshan shares have the layout in other links, while Jiangsu Cathay Pacific passed through the passage of Cathay Pacific. The form of long orders reduces the effects of lithium hex fluoride price fluctuations.
Lithium electric trends
With the common efforts of the Chinese, European and North American markets, the sales volume of world new energy vehicles in 2022 is expected to reach 10 million units. Among them, the Chinese market is expected to continue to occupy about half of the world’s market share with the driving force of consumption. The overall market is expected to gradually rise.
Affected by the rise in raw materials, the cost of power batteries rose significantly. Since 2021, the downstream demand for new energy vehicles has continued to improve, the demand for battery materials has risen significantly, and some of which have a serious mismatch on the supply and demand structure in lithium battery industry..
Due to this affected the prices of core lithium battery materials, the prices of core materials of lithium battery industry have risen. Specifically, the price of PVDF, lithium hexfluorophosphate, lithium lithium carbonate and other products have risen by this. The prices of direct materials of the two major batteries of positive electrode materials and electrolytes have risen significantly.
Lithium iron phosphate installation increases
Lithium iron phosphate battery installed capacity and proportion of proportion show an upward trend. Affected by the decline in China’s new energy vehicle subsidy policy, China’s power battery installed capacity was 63.64GWh in 2020, a year-on-year increase of 2%. Since 2017, high -energy density -oriented subsidy policies have impacted the demand for lithium iron phosphate battery industry.
However, at present, the low cost and high -safety performance advantages of lithium iron phosphate batteries are prominent. In 2020, the installed volume of lithium iron phosphate batteries was 24.4GWh, accounting for 38.3%of the total installed capacity, an increase of 20.6%year -on -year. In the first three quarters of 2021, the amount of iron phosphate was 44.8GWh, an increase of 332% year-on -year, accounting for 48.7% of the total installation capacity, and the proportion of single -month installation in September had reached 57.8%.
Summary
Energy storage can be applied to grid transmission and assisted services, renewable energy grids, distributed and micro -networks, and user -side parts in lithium battery industry. In the traditional power system, the power output curve is relatively stable. In this context, the configuration energy storage will be effective, smooth and renewable, absorb excess electricity, and connected immediately.