【XWBOO Market Analysis】 As the new energy vehicle industry continues to boom and major vehicle companies around the world have increased their presence in the new energy vehicle sector, the penetration rate of new energy vehicles has increased substantially, and the demand for power batteries has been rapidly released. Power battery is the core component of new energy vehicle, and electrolyte is called the "blood" of power battery in the industry. Stimulated by the huge market demand, a new wave of capacity expansion has been launched in the field of electrolyte.
China shipped 500,000 tons of lithium electrolyte in 2021, up 100 percent year-on-year, data showed. China shipped 330,000 tons of electrolyte in the first half of 2022, up 63 percent year-on-year, and the full-year shipment is expected to exceed 750,000 tons in 2022. If calculated based on the average production demand of 1,000 tons of electrolyte for 1 GWh battery, it is estimated that the shipment of electrolyte in China will reach 1.156 million tons in 2025 (based on the average price of electrolyte 100,000 yuan / ton in the current market), and the market scale will exceed RMB150 billion.
Industry analysts believe that in the next few years, power and energy storage batteries for the electrolyte demand scale will evolve from 10,000 tons, 100,000 tons to million tons. Due to the huge market demand scale, investment institutions are in favor of electrolyte enterprises with huge potential, and the electrolyte industry has launched a new wave of capacity expansion.
Yesterday, Shenghua Xincai announced that the company plans to sign the "Investment Cooperation Agreement" with Shaanxi Coal Group Yulin Chemical Yugao Chemical Co., Ltd. It is planned to build a 600,000-ton / year electrolyte project in Leshan City, Sichuan Province (including the first phase with a scale of 200,000 tons / year), with a total investment of about 6.5 billion yuan.
In 2021, the output of its carbonate series products will be 486,000 tons, accounting for 70% of the domestic export of carbonate solvents. The cooperation will help the two sides exert their respective advantages, enhance their competitiveness, increase the production capacity of the Company's electrolyte products, enhance the competitive advantages of the Company's electrolyte products, and benefit the Company's long-term development.
On the morning of November 5, the 40,000-ton Li-ion Battery Electrolyte Project of Kunlun Materials Huzhou Phase II was completed and put into production. The completion and production of the 40,000-ton-per-year electrolyte project of Kunlun Materials will further improve its delivery capacity and facilitate the development of downstream customers.
It is understood that the third phase of the Kunlun Material Huzhou lithium ion battery electrolyte project with an annual output of 100,000 tons and the sodium ion battery electrolyte project is expected to start construction at the beginning of next year. The lithium battery electrolyte project of Kunlun Material Yibin Base with an annual output of 240,000 tons has been started construction and is expected to be officially put into production in July 2023.
For another example, Huashengxiang is a high-tech enterprise specializing in the R & D, production and sales of electrolyte additives for lithium batteries. Recently, the commencement ceremony of Huashengxianghe new energy materials project was held in Yunmeng, Xiaogan, Hubei Province. With a total investment of 5 billion yuan, the project will be constructed in two phases, with an investment of 400 million yuan in the first phase, mainly for the production of electrolyte additives for lithium batteries.
Overall, driven by the strategy of "carbon-peak and carbon-neutral," and driven by the market demand of power lithium-ion batteries and energy storage lithium-ion batteries, the electrolyte market has a vast development space. Lithium-ion battery electrolyte market shipment is expected to maintain a high growth rate.
Original title: A new wave of capacity expansion in the field of electrolyte with a market scale of over 100 billion yuan
