my country’s lithium hydroxide production is gradually increasing, with Ganfeng Lithium Industry becoming the leading company

Lithium hydroxide is an inorganic compound with the chemical formula LiOH. It appears as a white crystalline powder with a pungent smell under normal temperature and pressure. Lithium hydroxide has the characteristics of strong alkalinity and corrosiveness, and can absorb carbon dioxide and moisture in the air. After years of development, my country’s lithium hydroxide preparation technology has gradually matured, and can be roughly divided into calcination method, calcium hydroxide method, lithium sulfate method, lithium carbonate method, etc. Among them, the lithium sulfate method has become the mainstream process for producing lithium hydroxide in my country due to its advantages such as high recovery rate, stable product performance, and low production cost.

At this stage, my country’s lithium hydroxide industry chain has basically matured. The upstream of the industrial chain is mainly the raw material industry, providing lithium carbonate, lithium feldspar, salt lake brine and other raw materials; the midstream is mainly the lithium hydroxide production industry, responsible for the production and manufacturing of lithium hydroxide; the downstream is mainly the application field, with lithium hydroxide as a An important chemical raw material, it is mostly used to make lithium-based grease, alkaline battery additives, lithium bromide refrigerator absorbent and other products. It is widely used in batteries, glass, aerospace, defense industry, lubricants and other fields.

According to the “In-depth Market Research and Investment Analysis Report on Lithium Hydroxide Industry in 2023” released by the Industrial Research Center, in recent years, my country’s new energy vehicles are gradually developing towards high nickel, and the market demand for high-nickel ternary batteries is gradually growing. Lithium hydroxide is the main raw material for the production of high-nickel ternary batteries, and the market demand has also increased accordingly. Against this background, my country’s lithium hydroxide companies have gradually expanded their production scale and output has grown steadily. According to data released by the Lithium Branch of the China Nonferrous Metals Industry Association, my country’s lithium hydroxide production will be 246,400 tons in 2022, with a production capacity of approximately 360,000 tons.

From the perspective of import and export, my country has become one of the largest lithium hydroxide producers in the world. Due to the growing demand in overseas markets, my country’s lithium hydroxide exports have gradually increased. According to data released by the General Administration of Customs, my country’s lithium hydroxide export volume will be 93,400 tons in 2022, a year-on-year increase of 26.82%. From the perspective of export destinations, my country’s main lithium hydroxide exporting countries include South Korea, Japan, Sweden, etc. Among them, South Korea exports the most lithium hydroxide, accounting for 63.02% of the export volume.

Industry analysts said that my country’s lithium hydroxide market is highly concentrated and leading companies have obvious advantages. The major lithium hydroxide companies in my country include Yabao Lithium Industry, Ganfeng Lithium Industry, Yahua Lithium Industry, etc. Among them, Ganfeng Lithium Industry accounts for the largest market share in my country, accounting for 31.02%; followed by Albemarle Lithium Industry, accounting for 24.87% of the market. With the rapid development of my country’s lithium hydroxide industry, Ganfeng Lithium Industry, as a leading company in the industry, has seen its operating income gradually increase. According to data in the company’s financial report, Ganfeng Lithium’s operating income in 2022 will be 41.823 billion yuan, a year-on-year increase of 274.68%.