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TAP TIMES -40- FEBRUARY 2022
Battery cathode materials need According to statistics from the China As-
may be 2.15 tons by 2025 sociation of Automobile Manufacturers,
China’s NEV sales reached 2.99 million ve-
hicles between January and November of
TAIPEI, Taiwan — With the explosion 2021, accounting for approximately 50%
of new energy vehicle (NEV) produc-
tion and sales, the installed capacity of total global sales of NEVs, and becom-
ing the key to boosting global demand for
of power batteries has also seen rapid power battery installations.
growth, in turn promoting the rising
demand for battery materials, accord- YoY growth of 153.1%
ing to TrendForce’s investigations.
During this period (January to November),
the installed capacity of power batteries in
Cathode materials in greatest demand the Chinese market reached 128.3GWh, a
Among battery materials, cathode mate- YoY growth rate of 153.1%.
rials are most in demand for power bat-
teries and their shipments have benefited
from the rapid growth of the NEV market. The cumulative installed capacity of lith-
ium iron phosphate batteries reached
64.8GWh, surpassing the 63.3GWh in-
Estimates are that the global demand for stalled capacity of ternary batteries for the
power battery cathode materials in 2021 first time.
would reach 600,000 tons, and this num-
ber is expected to exceed 2.15 million tons TrendForce believes, benefiting from
by 2025.
strong market demand for electric vehi-
cles, lithium battery material manufactur-
EVs account for 60% lithium use ers (representative of cathode materials)
As the largest downstream application
market for lithium batteries, electric ve- have started a new round of large-scale
production expansion this year and are ex-
hicles account for more than 60% of total pected to gradually release new production
lithium battery consumption.
capacity in the next 2 to 3 years, relieving
tight market demand.
With estimated total consumption of lith-
ium batteries for electric vehicles world- At present, overall capacity utilization rate
wide reaching 310GWh this year, corre- of China’s cathode material industry is not
sponding demand for cathode materials high.
will reach approximately 604,000 tons.
LiFePO 4 materials’ demand growing
Taking lithium iron phosphate materials as
an example, the capacity utilization rate
of China’s lithium iron phosphate cathode
materials in 2020 is approximately 44%
and expected to rise to 56% for last year.
Whether or not future global market de-
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