SMM, September 10:
Sodium fluoride (NaF) has long been regarded as a niche chemical product for "cavity prevention in toothpaste," with a market size of only 50,000–80,000 mt. However, as the industrialisation of sodium-ion batteries accelerates, NaF—the core raw material for synthesizing sodium hexafluorophosphate (NaPF₆)—is undergoing a value reassessment.
I. Sodium Fluoride: An Underrated "Industrial MSG"
Sodium fluoride is produced by reacting fluorite with soda ash/caustic soda or via the fluorosilicic acid process, with mature technology.
Traditional downstream applications include:
Oral care (anti-cavity additive in toothpaste): annual demand of 15,000–20,000 mt, the most mature application;
Metal smelting: aluminum alloy flux, stainless steel surface treatment, rare earth separation, annual demand of 5,000–10,000 mt;
Glass and ceramics: opacifier and light-blocking agent;
Pesticides and pharmaceuticals: intermediates such as pesticides and 5-fluorouracil;
Wood preservation and other industrial uses.
Overall, the traditional NaF market size is approximately 50,000–80,000 mt, with an annual growth rate of 2%–3%, offering "almost no room for imagination" among industrial products. But this perception is being changed by sodium-ion batteries.
II. The Rise of Sodium-Ion Batteries: The "Core Engine" of NaF Value Reassessment
Industry background. In electrolytes, sodium hexafluorophosphate (NaPF₆) has become the mainstream electrolyte solution due to its process homology with LiPF₆, high ionic conductivity, and good electrochemical stability.
Process pathway and NaF's pivotal role. Domestically, the NaPF₆ process is almost identical to that of LiPF₆, using a two-step HF solvent method, where NaF is the only key raw material providing Na⁺ in the reaction. The theoretical unit consumption is 42/167.95 = 0.25 t NaF/t NaPF₆; considering an industrial yield of 85%–95%, the actual unit consumption is 0.26–0.30 t/t, with a typical industry level of 0.27–0.28 t/t.
III. Battery-Grade NaF: Supply Landscape Under High Barriers
Technical barriers. Battery-grade NaF has stringent purity requirements: main content ≥99.95% (industrial grade is only 98%–99%), Si content ≤50 ppm, moisture ≤100 ppm, and metal impurities such as calcium, magnesium, and iron controlled at ppm levels. The reason is that impurities are "amplified" during NaPF₆ synthesis, affecting battery cycle life and safety.
IV. Strategic Value vs. Substitution Risk
Three dimensions of strategic value. ① Technical barriers: purity threshold + 6–12 month client certification cycle; ③ Integration advantages: vertical integration of NaF–NaPF₆–electrolyte (e.g., DFD) offers significant cost and supply advantages.
Substitution risk. New-type electrolytes such as NaFSI (sodium bis(fluorosulfonyl)imide), NaTFSI, and NaBOB each have performance advantages. In the future, the "NaPF₆ + NaFSI" composite system may become mainstream, but from 2026 to 2028, NaPF₆ will still hold the mainstream share of sodium-ion battery electrolytes under the dominant route, and battery-grade NaF will remain a "hidden champion" raw material with relatively high certainty.
Conclusion
From "caries prevention in toothpaste" to "a strategic raw material for sodium-ion batteries," battery-grade NaF is upgrading from a "niche industrial product" to a "high-growth new material," and its strategic value deserves close attention from all parties across the industry chain.
SMM New Energy Research Team
Wang Cong 021-51666838
Ma Rui 021-51595780
Feng Disheng 021-51666714
Lyu Yanlin 021-20707875
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