Statistics of market competition pattern and production capacity of major manufacturers of lithium iron phosphate industry in China in 2022 (10000 tons)
From the perspective of the historical pattern of lithium iron phosphate industry, from 2018 to 2021, the industry CR3 will be 51%, 61%, 66% and 54% respectively, all of which will remain above 50%. The share of leading enterprises has been relatively stable, basically in the 25% - 30% market share range. Among them, from 2018 to 2021, the market share of German nano will reach 28%/29%/24%/20% respectively, ranking first in the industry.
At present, there are many players in the lithium iron phosphate industry, mainly divided into three categories:
1) Old players: They entered the lithium iron phosphate market early, and gradually grew with the development of the market in recent years. The old players have been focusing on the production of lithium iron phosphate for a long time. They have a unique understanding of the preparation technology, technical advantages and customer advantages, and are more familiar with the whole process of the industrial chain. Representative enterprises include: German Nano, Anda Technology, Hunan Yuneng, Hubei Wanrun, Peking University First, etc;
2) New players: new players from chemical enterprises such as phosphorous chemical industry and titanium dioxide have entered the lithium iron phosphate industry to make a comprehensive layout. Chemical enterprises have many advantages in entering the lithium iron phosphate industry. First, some chemical enterprises have upstream phosphorus sources, iron sources and other raw material resources required by the lithium iron phosphate industry, which can reduce the cost of raw material procurement, and improve production efficiency and product quality through the integration of the industrial chain; Secondly, the scale of chemical enterprises is usually larger than that of the old players in the lithium iron phosphate market, and the experience of forming scale effect is more sufficient; Third, some chemical enterprises have significantly reduced the cost of original products through the recycling of waste. New representative enterprises in the lithium iron phosphate market include CNNC Titanium Dioxide, Long Mang Baili, Chuanheng Shares, Chuanjinnuo, Wanhua Chemical, Yuntianhua, etc.
3) New faces of old players: The listed company has made the preparation of lithium iron phosphate one of the company‘s main businesses through the acquisition of old players. The original intention of the acquisition is to closely follow the development trend of the new energy automobile industry and accelerate the company‘s industrial layout. For example, in 2016, the auto parts manufacturing company Fulin Jinggong acquired Hunan Shenghua, and in 2021, the auto fine chemicals company Longpan Technology acquired Betray.
With the entry of new players, the capacity has accelerated its expansion. It is estimated that the available capacity will be close to 3 million tons by the end of 2022. According to statistics, by the end of 2021, the total capacity of lithium iron phosphate industry will reach 890000 tons; With the entry of new players, the capacity expansion of lithium iron phosphate will accelerate in 2022. At present, the capacity has reached 1034000 tons. It is estimated that the available capacity of lithium iron phosphate in China will reach about 3 million tons by the end of 2022; Among them, the Q2 capacity increment is mainly 260000 tons of Hunan Yuneng and 110000 tons of German Nano; The Q3 increment mainly comes from Rongtong Hi Tech, Hunan Yuneng, Hunan Bangsheng and Changzhou Liyuan, totaling 560000 tons; Q4 increment comes from 230000 tons of Shengfan Technology and 150000 tons of Baixin New Energy.
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