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Overview of Domestic Lithium Iron Phosphate Market in 2023
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Overview of Domestic Lithium Iron Phosphate Market in 2023

Views: 0     Author: INFOR     Publish Time: 2024-01-27      Origin: INFOR

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According to statistics, the production of lithium iron phosphate in 2023 recorded 1,575,500 tons, an increase of 36.96%.

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After the doubling of growth in 2021 and 2022, the lithium iron phosphate industry returned to normal in 2023, and the growth rate of less than 5% was also lower than the annual estimate, and the annual target was slightly reduced.

In 2023, the number of LFP production enterprises reached 36, an increase of 9 compared with 2022, and the number of new enterprises is still increasing rapidly.


From the enterprise point of view, Hunan Yuleng led the way, the annual output has hit 500,000 tons; Germanfang Nano and Hubei Wanrun have a firm foothold at the 200,000-ton level; Longpan Technology, Rongtong High-tech, Youshan technology in the 100,000-ton level entanglement, production and marketing have a winner; Guoxuan Hi-tech and Jintang Times produce and sell themselves at the 80,000-ton level to meet their own supply needs. At this point, the market share of the top eight enterprises has exceeded 80%, and the concentration is not low.


From the perspective of the growth rate of enterprises, in 2023, Youshan Technology, Jintang Times, Shandong Fengyuan's new production capacity has performed well, significantly outperforming the industry average.

From the output value point of view, due to the sharp decline in the price of lithium carbonate this year, the annual average price of lithium iron phosphate fell to 86,000 / ton, and the industry's annual output value including tax fell to 135.5 billion yuan, down 14.3% year-on-year.


From the process point of view, the market share of iron phosphate process reached 83%, which is still the most mainstream process choice. Among them, the volume of external production of iron phosphate decreased, accounting for 37%, mainly because Yuleng, Longpan, Rongtong and other enterprises increased the proportion of self-production. Grass iron, iron red, hydrothermal process and other processes are still a minority choice.


From the perspective of production capacity, the available capacity of lithium iron phosphate in 2023 reached 3.492 million tons/year, an increase of 1.331 million tons/year compared with 2022, an increase of 61.6%, much higher than the production growth rate. The actual capacity utilization rate is 45.1%, down 8 percentage points compared with 2022.


From the demand point of view, Ningde times, BYD still firmly occupy the first two; Billion Wei Lithium Energy performance this year eye-catching, with energy storage orders rushed into the top three.


It is expected that in 2024, there will be a small stable increase in the new energy vehicle sector, and the growth rate of the energy storage sector will fall to a normal level. Optimistic for the whole year, the production of lithium iron materials is expected to impact 1.8-2 million tons.

As a high-quality production equipment supplier of lithium iron phosphate materials, Yifu sand mill has served dozens of large-scale projects in recent years, and has rich experience in the construction of sand mill production line. It has been focusing on the research and development of sand mill technology and continues to provide sand mill system solutions for the industry.

At present, the company's equipment has the characteristics of large-scale, intelligent, energy-saving, etc., there are turbine, rod pin, vertical, direct drive and other series of sand grinding machines, the capacity ranges from 1L to 1000L, with stable operation, high efficiency, low energy consumption, large flow, ultra-fine, pollution-free and other characteristics.

Leading the industry to the full intelligent and energy-saving grinding production, Yifu machinery will continue to maintain the pursuit of grinding accuracy, improve the value of quality, and create China's high-quality grinding system integrated service provider.

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