Driven by the new energy automobile industry, the ternary lithium battery industry has broad development prospects

Ternary lithium batteries refer to lithium batteries that use three transition metal oxides of nickel, cobalt, and manganese as positive electrode materials. The positive electrodes of some ternary lithium batteries are made of nickel, cobalt, and aluminum.

Ternary lithium batteries can be divided into ternary polymer lithium batteries, ternary low temperature lithium batteries, and ternary power lithium batteries according to the addition of different additives; ternary lithium batteries can be divided into cylindrical ternary lithium batteries according to different appearance packaging materials. , square ternary lithium battery, soft package ternary lithium battery.

China’s ternary lithium battery industry is highly concentrated, with leading companies occupying most of the market share. Companies in the industry are mainly distributed in East and South China, including economically developed provinces such as Jiangsu, Zhejiang, and Guangdong.

The upstream raw materials of ternary lithium batteries mainly include separators, electrolytes, cathode materials, negative electrode materials, and auxiliary materials. The cathode materials account for the highest proportion of the upstream raw material costs of China’s ternary lithium batteries, about 39%; the downstream of ternary lithium batteries is the application market. , including new energy vehicles, energy storage, consumer electronics, etc.

According to the “In-depth Market Research and Investment Strategy Suggestions Report on Ternary Lithium Battery Industry 2022-2026” released by the Industrial Research Center, As the scale of China’s new energy vehicle market continues to expand, the scale of the ternary lithium battery market has also expanded. In 2021, the scale of China’s ternary lithium battery market has increased to 83.2 billion yuan, with a compound annual growth rate of 58%. Although the installed volume of ternary lithium batteries in China has shown a fluctuating upward trend, due to reasons such as high production costs, the overall installed volume accounts for a declining proportion of power battery installed vehicles.

At present, my country’s new energy vehicle power batteries mainly use ternary lithium batteries and aluminum iron phosphate batteries. Ternary lithium batteries have the advantages of large specific capacity, good low-temperature performance, high energy density, light weight, and high cruising range. However, ternary lithium batteries have poor high-temperature safety and short cycle life, and their costs are affected by the price of raw materials. High; aluminum iron phosphate batteries have good high-temperature safety and lower production costs, but their energy density is low and their low-temperature performance is not as good as ternary lithium batteries. At present, aluminum iron phosphate batteries are mainly used in the field of low-performance new energy vehicles, while ternary lithium batteries are mostly used in the field of long-range high-end new energy vehicles.

In recent years, the state has continuously introduced policies to encourage the development of the new energy automobile industry, which is beneficial to the development of the ternary lithium battery industry. In 2021, the “Guidance Catalog for the First Application Demonstration of Key New Materials (2021 Edition)” released by the Ministry of Industry and Information Technology mentioned that ternary materials with a specific capacity ≥ 200 mAh/g and a cycle life ≥ 1,000 weeks are regarded as key strategic materials. With the support of policies, the ternary lithium battery industry has broad development prospects.

Industry analysts said that with the rapid development of my country’s new energy vehicle field in the future, power batteries will serve as the three core systems of new energy vehicles. , will achieve considerable development, thereby driving the expansion of demand for ternary lithium batteries.