The heroes competed with each other in the race track of lithium iron phosphate, the leader of ternary material came by the wind.

Since the beginning of this year, the sustained high boom in the new energy vehicle and energy storage market has led to a boom in lithium-related industries, among which lithium iron phosphate is the fastest growing and most eye-catching performance.

High demand for power generation downstream

From the perspective of the power battery market, the lithium iron phosphate battery is growing rapidly this year, and the domestic loading capacity has continued to develop since the ternary battery was launched in May, and it still maintains the loading advantage so far. Tesla said at the third quarter investor exchange meeting a few days ago that the standard continued version of Model3 and ModelY, will switch to lithium iron phosphate batteries worldwide; after LG Energy developed lithium iron phosphate batteries, lithium power giant SK innovative spin-off battery company SK On, is also considering developing lithium iron phosphate batteries according to foreign media.

The market demand of lithium iron phosphate battery is increasing, and lithium iron phosphate and its precursors, as a necessary material, have been continuously concerned by major brokerage institutions. Changjiang Securities recently reported that lithium iron phosphate is the strongest demand logic link in the current lithium power main materials industry chain. The domestic output and installation of lithium iron in 2021 will break through the 50% mark in the middle of the year. It is estimated that the proportion of lithium iron phosphate for passenger cars in China will exceed 50% from 2021 to 2023. The application of overseas lithium iron phosphate is expected to accelerate around 2023, and the proportion of global lithium iron phosphate is expected to tend to 40% in 2025.

Soochow Securities estimates that global demand for lithium iron phosphate is expected to grow from 136000 tons in 2020 to 2.724 million tons in 2025, with a GAGR of 82%.

Other institutions predict that the global installed capacity of lithium iron phosphate is expected to reach 912GWhby 2025, and the demand for lithium iron phosphate is expected to grow at a compound annual growth rate of 75% from 2021 to 2025.

High demand led to high price growth, with the price of power lithium iron phosphate rising from 380 million yuan / ton at the beginning of the year to 89000 / ton on November 23rd, an increase of 134.21%.

The heroes compete with each other and add code intensively.

Continuously high prices and long-term good market demand continue to stimulate listed companies to continue to distribute lithium iron phosphate, and words such as "cross-border" and "production expansion" appear frequently in the track. According to the incomplete statistics of the battery network, in the past month, 11 companies have increased their production capacity intensively, involving an increase of 2.11 million tons of lithium iron phosphate production capacity and 1.95 million tons of new iron phosphate production capacity.

From the perspective of production expansion, Hunan Yuneng, a leading enterprise of lithium iron phosphate, plans to raise 1.8 billion yuan through gem IPO to raise 1.8 billion yuan for Sichuan Yuneng III / IV annual production of 60, 000 tons of lithium iron phosphate project and supplementary current capital, with a total annual production capacity of 120000 tons of lithium iron phosphate; Yunnan Yuneng plans to build an annual production capacity of 400000 tons of iron phosphate and 400000 tons of lithium iron phosphate battery materials in 12 billion; Longchuan Technology plans to build an annual output of 100000 tons of lithium iron phosphate cathode material project in Indonesia in 1.5 billion; Bank of China Cashmere Industry plans to put into construction an annual production capacity of 80, 000 tons of lithium iron phosphate in 2 billion; Germany Nano plans to raise no more than 3.2 billion to build a new phosphate cathode material project with an annual output of 110000 tons. Xiong Tao shares in the company has completed hundreds of millions of yuan of financing, and plans to further expand the production capacity of lithium iron phosphate precursors and make rapid progress to the scale of annual production of 100, 000 tons.

From a cross-border point of view, Conch Entrepreneurship, a Hong Kong listed company, plans to build an annual output of 500000 tons of lithium iron phosphate cathode material project in Wuhu; phosphorus chemical giant Yuntianhua announced 7.286 billion yuan to build 500000 tons / year iron phosphate battery precursors and supporting projects in Anning City, Yunnan Province. Huayou Cobalt plans to acquire 100% equity of Sheng Vanadium Technology into lithium iron phosphate, and cooperate with Xingfa Group to build 500000 tons / year of iron phosphate and 500000 tons / year of lithium iron phosphate and related supporting projects. Batian, a phosphate fertilizer producer, plans to build an annual output of 300000 tons of iron phosphate and related supporting projects in Weng'an Economic Development Zone, Guizhou Province. Chuanjinnuo plans to build 100000 tons / year battery-grade lithium iron phosphate cathode materials and 50, 000 tons / year precursors. Chuanfa Dragon Python plans to build 200000 tons / year new energy materials project in de An Industrial Park (including 200000 tons of lithium iron phosphate and 200000 tons of iron phosphate production line).

Iron lithium faucet goes out to sea and three yuan bibcock enters the game.

The battery network noted that the recent layout of lithium iron phosphate, in addition to the original industrial chain extension, strong cooperation and other models, but also appeared the new characteristics of "iron lithium faucet out to sea, three-yuan bibcock into the game".

Lithium iron phosphate leading dragon technology plans to go out to sea, or land the first overseas project of lithium iron phosphate; at the same time, South Korean lithium power giant SK plans to "marry" with three-yuan head enterprise Dangsheng science and technology, invest in its European base, and also agree to carry out cooperation in lithium iron phosphate business. In addition, after Greenmei announced in September the expansion of iron phosphate precursor materials, lithium iron phosphate cathode materials and battery-grade lithium carbonate and manganese sulfate raw materials, the ternary precursor leader Huayou Cobalt also officially entered the field of lithium iron phosphate to keep pace with iron and lithium.

Although the market demand continues to improve, the demand is high, and the price is high, the cake is not so good. Under the situation that the whole people enter the field of lithium iron phosphate and compete for food share, whether it can stand out in the competition and gain market recognition depends on whether the technology can match the market demand and whether customers can develop smoothly. After all, the lithium iron phosphate cathode material industry is a technology-intensive industry. The "vanguard" has also occupied most of the market share.

Recently, the "Lithium Ion Battery Industry Standard conditions" (draft) issued by the Ministry of Industry and Information Technology has further upgraded the performance parameters of batteries and materials. In this regard, Everbright Securities pointed out that the standard conditions put forward lithium iron phosphate positive specific capacity ≥ 150AhAhmax kg, the threshold is higher, in the iron lithium head enterprises can achieve the technical level, it is expected that this document aims to guide industrial upgrading, avoid blind large-scale production expansion, is conducive to the long-term healthy development of the industry.