The global lithium-ion battery market has entered a high-speed development path, and the domestic lithium battery market maintains a relatively high growth rate, and lithium battery materials will continue to benefit. Lithium battery upstream raw materials are mainly composed of cathode material, anode material, electrolyte, separator, and will continue to benefit from the downstream demand growth of lithium batteries.
Cathode material: The industry concentration will be further improved, and ternary materials are worthy of attention. At present, there are about 200 domestic grade material manufacturers. Ten manufacturers account for more than 70% of the market share. There are many small manufacturers and the competition is fierce. The advantage of triple batteries compared to lithium iron phosphate is that they have higher energy density and mileage. Bigger. The market expects that Sanyuan Materials will become the mainstream material for power batteries in the coming period, but it will face the test of safety assessment in the short term, and promotion will require a process.
Anode materials: high industrial concentration, strong and strong. The total market share of the top four global companies accounted for 78%, and negative materials showed a high degree of concentration. The price of graphite anode materials has continued to decline in recent years, and it is expected that this trend will continue in the next few years. Through the expansion of the production scale of negative electrode materials, the leading enterprises in the domestic industry can strengthen the bargaining power in the procurement of raw materials for the company's products, increase the efficiency of the use of production equipment, and enhance market competitiveness.
Electrolyte: The raw material lithium hexafluorophosphate boom degree will continue. Due to its high technical threshold, strict production process, long-term expansion cycle due to environmental approvals and long equipment procurement time, the expansion cycle is more than 1.5 years, and it is expected that the production time will be after mid-2017, so we expect the high boom of lithium hexafluorophosphate to continue. More than 1 year. It is expected that with the completion of the execution of old orders and the signing of new orders in 2016, the lithium battery electrolyte price that is subject to the rapid increase in lithium hexafluorophosphate prices is expected to usher in a wave of price increases.
Diaphragm: high-end product import substitution space. In the past few years, the high gross profit margin of lithium battery separator has attracted a large number of new entrants, while new production capacity has been concentrated in the low-end product areas, resulting in the oversupply of low-end products. The three international giants Asahi Kasei, Dongchen Chemical and Celgard's global market The market share has fallen from 77% in 2010 to 56%, and high-tech barriers have made domestic supply of high-end and high-end products much lower than market demand, especially about 90% of high-end products are imported.
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