Dimethyl carbonate (DMC) is a co-product of the production of propylene glycol by transesterification. In the context of green chemistry and sustainable development, dimethyl carbonate (DMC) has low toxicity and excellent environmental performance, and is widely used in industrial fields. In addition to traditional adhesives, coatings, developers and polycarbonates, etc., Recently, the proportion of lithium battery electrolyte solvent in the downstream application of DMC has reached 30%, becoming the main application field of this product. From the perspective of product purity, industrial grade dimethyl carbonate with lower purity is mainly used in traditional downstream and polycarbonate (PC), while lithium battery electrolyte requires higher purity battery grade dimethyl carbonate.
With the breakthrough of the short board of energy density, lithium iron phosphate battery, with its higher safety and economy, longer The cycle life is favored by the market again. The data shows that from January to June 2023, my country's cumulative output of power batteries is 293.6GWh, a cumulative year-on-year increase of 36.8%. Among them, the cumulative output of ternary batteries was 99.6GWh, accounting for 33.9% of the total output, with a cumulative increase of 12.6% year-on-year; the cumulative output of lithium iron phosphate batteries was 193.5GWh, accounting for 65.9% of the total output, with a cumulative increase of 53.8% year-on-year.
The fiery lithium iron phosphate battery market has driven the demand for DMC to rise steadily, and the price of DMC has also been rising since the second half of 2020. According to data from the China Chemical and Physical Power Supply Industry Association, the latest quotation for battery-grade DMC is 11,500 to 12,500 yuan per ton, an increase of nearly 80% over the same period last year.
In recent years, the rapid development of the global new energy vehicle industry has driven the continuous strong demand for the power battery industry and upstream raw materials. Domestically, in 2022, even under the impact of multiple challenges such as the conflict between Russia and Ukraine, the European energy crisis, the epidemic, inflation, the Fed’s strong interest rate hikes, and the sharp depreciation of non-US currencies, the demand for many industries will drop sharply, or even cut in half. Still outstanding.
According to the statistics of China Association of Automobile Manufacturers, the production and sales completed 7.058 million and 6.887 million vehicles respectively, a year-on-year increase of 96.9% and 93.4% respectively. Among them, the production and sales of new energy passenger vehicles were 6.716 million and 6.549 million, respectively, an increase of 97.77% and 94.26% year-on-year; the production and sales of new energy commercial vehicles were 342,000 and 338,000, respectively, an increase of 81.84% and 78.89% year-on-year. On July 31, the National Development and Reform Commission's notice on measures to restore and expand consumption focused on expanding the consumption of new energy vehicles: implementing the construction of a high-quality charging infrastructure system, supporting new energy vehicles to go to the countryside, continuing and optimizing the vehicle purchase tax for new energy vehicles policies such as relief. Scientifically layout and moderately advanced construction of the charging infrastructure system, accelerate the promotion and application of the battery swap model, and effectively meet the needs of residents for travel charging and swapping. Promote the optimal layout of public charging infrastructure in residential areas and implement residential electricity prices, study the implementation of peak and valley time-of-use electricity pricing policies for charging infrastructure electricity, and promote the reduction of electricity costs for new energy vehicles. In foreign countries, the European Union has reached an agreement to ban the production of fuel vehicles in 2035; California in the United States has completely banned the sale of fuel vehicles in 2035; from 2022 to 2025, the consumption tax on new energy vehicles in Thailand will be reduced from 8% to 2%. , and also provide subsidies of 70,000-150,000 baht for each electric vehicle.
DMCThe demand is increasing year by year. my country's DMC production will increase from 339,000 tons in 2015 to 1.05 million tons in 2022, a year-on-year increase of 61.8%. In the future, new energy vehicles will continue to drive PO downstream DMC requirements.
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