Lithium iron phosphate battery (LFP) is a lithium-ion battery that uses lithium iron phosphate as the cathode material. Due to its advantages in safety, cost-effectiveness, environmental protection and technical adaptability, lithium iron phosphate batteries have shown great application potential and market prospects in the field of energy storage and power applications. With the continuous progress of technology and the rapid development of downstream industries such as new energy vehicles, the lithium iron phosphate battery industry in mainland China has broad prospects.
The upstream raw materials of lithium iron phosphate batteries mainly include lithium iron phosphate cathode materials, anode materials, electrolytes, separators, copper foils, etc. From the perspective of the proportion of raw material costs, relevant data show that lithium iron phosphate cathode materials account for the largest proportion of lithium iron phosphate battery costs, reaching 37.49%, followed by anode materials and copper foil, accounting for 11.37% and 10.88% respectively, and electrolyte and separator costs account for relatively less, 8.76% and 2.32% respectively.
Data source: Sunshine Craftsman Society, China Business Industry Research Institute
As one of the key technologies in the field of new energy vehicles and energy storage, the output of lithium iron phosphate batteries is growing rapidly. According to the "2024-2029 China Lithium Iron Phosphate Industry Prospect Forecast and Market Research Report" released by the China Business Industry Research Institute, the cumulative output of China's lithium iron phosphate batteries will reach 531.4GWh in 2023, an increase of 59.87% over the previous year. Analysts at the China Business Industry Research Institute predict that China's lithium iron phosphate battery production will increase to 731.4GWh in 2024.
Data source: China Automotive Power Battery Industry Innovation Alliance and China Commercial Industry Research Institute
With the progress of technology, such as the application of CTP, blade battery, OS battery and other technologies, lithium iron phosphate batteries have been improved in battery life, market competitiveness has increased, and domestic lithium iron phosphate battery sales have increased. According to the "2024-2029 China Lithium Iron Phosphate Industry Prospect Forecast and Market Research Report" released by the China Business Industry Research Institute, the cumulative sales volume of lithium iron phosphate power batteries in China in 2023 will be 365.2GWh, an increase of 34.76% over the previous year. Analysts at the China Commercial Industry Research Institute predict that the cumulative sales of lithium iron phosphate power batteries in China will reach 460.2GWh in 2024.
Data source: China Automotive Power Battery Industry Innovation Alliance and China Commercial Industry Research Institute
For more information, please refer to the "Research Report on Market Prospects and Investment Opportunities of China's Lithium Iron Phosphate Battery Industry" released by the China Commercial Industry Research Institute, and the China Commercial Industry Research Institute also provides consulting services such as industrial big data, industrial intelligence, industry research reports, industry white papers, industry status certificates, business plans, feasibility study reports, park industrial planning, industrial chain investment map, industrial investment guidelines, industrial chain investment investigation & promotion meetings, etc.