LONDON, Jan. 3, 2017 /PRNewswire/ -- Lithium iron phosphate (LiFePO4), a lithium battery cathode material, features moderate price, excellent safety performance and high-temperature stability. The material is primarily applied to EV and energy storage, around 80% in the former domestically in China.
Global EV sales reported 549,000 units in 2015, an upsurge of 70.4% from a year ago. Being more vigorously promoted around the globe, the EV market will see an AAGR of about 40% during 2016-2020, reaching 3.32 million units in 2020. Driven by this, global LiFePO4 shipments soared by 136.8% to 49,500 tons in 2015 and it is expected to hit 309,400 tons in 2020.
Global LiFePO4 markets are concentrated in China, Taiwan and other countries/regions with the first accounting for over 60%. China's shipment of LiFePO4 totaled 32,400 tons in 2015, 65% of the world-wide market, and is expected to attain 236,000 tons in 2020 with the proportion increasing to 76%.
LiFePO4 is directly used for the production of LiFePO4 battery. China shipped 10.97Gwh of LiFePO4 power batteries in 2015, two times higher than the 2014 level. Driven by rapid growth of new energy vehicle market, the LiFePO4 battery market will continue to expand but, affected by the substitution of ternary battery, at a slower rate, an estimated 20% during 2016-2020.
The substitution of ternary material for LiFePO4 is mainly reflected in its high energy density that can fulfill the demand of EV mileage. As a result, electric passenger car and electric special vehicle markets have been encroached on by ternary materials in recent two years. However, as LiFePO4 is safer than ternary materials, the industries that are demanding on safety like electric bus still adopt mainly LiFePO4 battery. The Ministry of Industry and Information Technology (MIIT) suspended the inclusion of ternary lithium battery-powered bus into the catalogue of recommended models for new energy vehicle promotion and application "due to safety concerns" in Jan 2016, thus fueling LiFePO4 battery-powered electric vehicle market. Data show that 61% of electric buses in China in 2016H1 adopted LiFePO4 battery, up 23 percentage points from 37.3% in the same period of 2015.
Overall, LiFePO4 and ternary material will coexist and electric bus and energy storage will be major stimuli to the development of LiFePO4 battery in China over the next five years.
Most of global LiFePO4 producers are located in China and Taiwan, but core technologies are controlled by European and American companies including A123, Valence and Phostech.
More than 100 Chinese local LiFePO4 manufacturers can be classified into: 1) the ones capable of producing power battery, such as BYD, Guoxuan High-Tech, and Wanxiang A123, which achieve self-sufficiency via layout in LiFePo4; 2) professional LiFePo4 producers, such as Pulead Technology Industry Co. Ltd., Shenghua Technology, and Aleees, which have established stable partnership with first-tier LiFePO4 battery companies like CATL, China Aviation Lithium Battery, and OptimumNano.
Global and China Lithium Iron Phosphate (LiFePO4) and Battery Industry Report, 2016-2020 focuses on the following:
Global lithium battery cathode materials and LiFePO4 markets (size, consumption structure, enterprises' layout, etc.);
Chinese lithium battery cathode materials and LiFePO4 markets (size, import & export, consumption structure, enterprises' layout, etc.);
Lithium carbonate and iron phosphate, upstream raw materials of LiFePO4 cathode materials;
Demand for LiFePO4 battery in seven application markets like electric vehicle, electric bicycle, 3C consumer electronics, and energy storage;
Market for substitutes of LiFePO4 cathode material including ternary cathode materials, lithium cobalt oxide, and lithium manganese oxide;
24 global and Chinese LiFePO4producers (operation, development strategy, etc.);
14 major LiFePO4 battery producers (operation, development strategy, etc.)
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