In 2021, China's lithium iron phosphate cathode material shipments will be 455,000 tons, a year-on-year increase of 213.8%, surpassing ternary cathode material shipments for the first time.
Lithium Iron Phosphate
Recently, the research institute EVTank, Ivey Economic Research Institute and China Battery Industry Research Institute jointly released the "China Iron Phosphate and Lithium Iron Phosphate Material Industry Development White Paper (2022)". White paper data shows that in 2021, China's lithium iron phosphate cathode material shipments will be 455,000 tons, a year-on-year increase of 213.8%, surpassing ternary cathode material shipments for the first time.
Last year, China's lithium iron phosphate shipments were 455,000 tons, and the new planned production capacity that year exceeded 4 million tons
From the perspective of corporate competition, Hunan Yuneng ranks first in both lithium iron phosphate and iron phosphate fields. In the field of lithium iron phosphate, the combined market share of Hunan Yuneng, Defang Nano and Hubei Wanrun reached 49.5%. In the field of iron phosphate, the combined market share of Hunan Yuneng, Hubei Wanrun and Hunan Yacheng reached 49.5%. 44.8%.
Last year, China's lithium iron phosphate shipments were 455,000 tons, and the new planned production capacity that year exceeded 4 million tons
The white paper pointed out that in 2021, thanks to the rapid growth of lithium iron phosphate battery shipments, the upstream lithium iron phosphate and iron phosphate materials will be in short supply situation, which will also attract a large number of phosphorus chemical, titanium dioxide and other enterprises. Cross-border entry into the field of iron phosphate and lithium iron phosphate materials, including Longbai Group, China Nuclear Titanium Dioxide, Anada, Hubei Yihua, Yuntianhua, Chuanjinnuo, Chuanheng Co., Ltd. and other enterprises have planned a large number of plans based on the comprehensive advantages of raw material costs. production capacity of iron phosphate and lithium iron phosphate. In addition, traditional ternary material companies such as Xiamen Tungsten Industry, Changyuan Lithium Branch, and Huayou Cobalt Industry have all begun to deeply deploy lithium iron phosphate and iron phosphate companies in 2021. According to preliminary statistics from EVTank, the newly planned production capacity of iron phosphate and lithium iron phosphate in 2021 will exceed 4 million tons in total. If they are all put into production as planned, there is a risk of overcapacity in the overall industry.
