Recently, the research institute EVtank and the Ivy Institute of Economics jointly released the “White Paper on the Development of China's Lithium Hexafluorophosphate (LipF2) Industry (2024)”.
The Zhitong Finance App learned that recently, research institution EVtank and Ivy Economic Research Institute jointly released the “White Paper on the Development of China's Lithium Hexafluorophosphate (LipF2) Industry (2024)”. According to the white paper data, global lithium hexafluorophosphate shipments increased 26.1% to 169,000 tons in 2023, but due to the sharp drop in lithium hexafluorophosphate prices, the market size was only 19.44 billion yuan, a sharp drop of 53.7% over the previous year.
EVtank stated in the “White Paper on the Development of China's Lithium Hexafluorophosphate (LiPfPhosphate) Industry (2024)” that the entire industry is currently in a serious state of overcapacity. By the end of 2023, the actual production capacity of the entire industry has exceeded 300,000 tons, and the nominal production capacity under construction and planning will exceed 1 million tons in 2025. EVtank said that in 2023, due to downstream demand falling short of expectations, some planned production capacity has stagnated. Looking ahead, EVtank expects global demand for lithium hexafluorophosphate to reach 700,000 tons in 2030, down from the forecast in early 2023.
Judging from the price trend, according to EVtank data, the average price of lithium hexafluorophosphate dropped from a peak of nearly 600,000 yuan/ton in 2022 to around 70,000 yuan/ton at the end of 2023. EVtank said that large fluctuations in lithium hexafluorophosphate prices are mainly driven by upstream costs and the relationship between supply and demand, but as the downstream new energy industry gradually changes from explosive growth in the past to steady growth, enterprises will grasp the relationship between supply and demand more accurately, and lithium hexafluorophosphate prices will gradually break up and fall and enter a new stage of steady development.
According to EVtank data, the companies with the highest global shipments in 2023 are mainly Tianci Materials (002709.SZ), polyfluoride (002407.SZ), and Skyrim (002759.SZ). The total market share of the three companies reached 62.7%, a further increase from 50.4% in 2022. EVtank said that in the new stage of industry development, the competitiveness of leading enterprises with cost control capabilities and scale effects will be further strengthened, and the overall market concentration may further increase.