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Analysis of Power Battery Material System and Market

published: 2023-07-18 17:45

The material system of power batteries encompasses various crucial components, including the cathode, anode, diaphragm, electrolyte, and collector. In the current market, the dominant cathode materials are lithium iron phosphate and Ni-Co-Li ternary, with lithium iron phosphate leading the pack. On the other hand, anode materials primarily consist of graphite, and they are anticipated to be utilized in future high nickel ternary batteries. The diaphragm application employs both dry and wet processes, with the wet process taking precedence. As for the electrolyte, LiPF6 lithium salt is the primary solute, and leading enterprises are gradually incorporating LiFSI to enhance electrolyte performance. The production of anode current collectors utilizes copper foil, while aluminum foil is utilized for cathode production. Composite collectors have been introduced into mass production this year, showing promise in gradually replacing traditional collectors in the future.

Concerning the supply side, the cost of power batteries is largely influenced by cathode material expenses, with lithium carbonate accounting for approximately one-third of the total cost. Based on current market prices, the cost breakdown for lithium iron phosphate batteries comprises 42.9% for the cathode material, 8.2% for the anode, 5.2% for the diaphragm, 8.8% for the electrolyte, and 19.5% for the fluid collector. In contrast, for ternary 523 batteries, the cathode material accounts for 62.4% of the total cost, the anode for 5.7%, the diaphragm for 3.0%, the electrolyte for 6.7%, and the fluid collector for 10.0%. Therefore, fluctuations in lithium prices directly impact the profitability of power batteries, as the cost is closely related to lithium carbonate prices. Lithium iron phosphate batteries maintain a cost advantage over ternary batteries, with the former being 0.2 yuan / Wh cheaper than the latter.

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