The development history and development trend of ternary lithium battery cathode materials. Lithium batteries are generally divided according to the cathode material system, and can be divided into lithium cobaltate, lithium manganate, lithium iron phosphate, ternary materials and other technical routes. The output of lithium battery cathode materials is growing, and the prospect of ternary materials is promising.
The development history of ternary lithium battery cathode materials
Li-ion battery cathode materials have gone through three development stages. In the first stage, driven by consumer batteries, cathode materials are represented by lithium cobaltate; in the second stage, lithium iron phosphate grows rapidly as the new energy vehicle market releases; in the third stage, driven by the new energy passenger car demand for long mileage and national policies, ternary materials have become the dominant market demand.
In terms of electric vehicles, in order to run farther, it is necessary to have higher battery energy. Compared to LFP, which is widely used in power batteries, ternary lithium battery materials have higher energy and are promising in improving range. The current high price of electric vehicles in the industry, the high cost of the power battery is one of the important reasons, its price accounts for almost half of the whole car.
Ternary lithium battery cathode material has a longer life, so that the power battery can be used for a longer period of time, thus improving the cost performance of electric vehicles. With the update of subsidy policy standards and the gradual improvement of consumers' requirements for the range of new energy vehicles, most new energy passenger cars have already shifted to the use of ternary lithium batteries.
The trend of ternary lithium battery cathode material
Ternary lithium battery cathode materials will benefit from the rapid development of new energy vehicles and the increasing penetration of ternary cathodes in the next few years, and is expected to achieve a compound annual growth rate of 80% in the future, with a market space of 25.2 billion yuan in 2020.
Ternary materials have become the highest growth rate of cathode materials segment. Ternary batteries have higher energy density compared with lithium iron phosphate batteries, in line with the trend of upgrading models, so the proportion of ternary materials is gradually increasing. The demand for ternary cathode materials in power batteries is about 0.14 tons/GWh, and it is expected that by 2025, the market size of ternary cathode materials at home and abroad will reach 93 billion yuan and 150 billion yuan respectively, with a total of over 240 billion yuan.
With the double pull of product price increase and market increment, ternary lithium battery material enterprises are ushering in a new round of performance growth period. At the same time, the concentration of the industry is increasing, the advantages of the head enterprises are prominent, and the competitive pattern of the industry is constantly optimized.
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