<2024.H1> LIB 4 Major Materials Market and SCM Analysis
1. Introduction
Report
Overview
This report aims to analyze the
lithium-ion secondary battery (LIB) market and supply chain management (SCM)
status by quarter in 2024 and comprehensively review the market trends of the
four major materials (cathode material, anode material, electrolyte, and
separator).
LIB Overview
Lithium-ion secondary batteries
(LIBs) are energy storage devices widely used in various fields such as
portable electronic devices, electric vehicles (EVs), and energy storage
systems (ESS). The core components of LIBs are cathode materials, anode materials,
electrolytes, and separators, and the quality and performance of these four
materials determine the efficiency and lifespan of the battery.
Importance of
4 Major Materials
Cathode materials, anode materials,
electrolytes, and separators each directly affect the storage and movement of
lithium ions, electrical characteristics, and stability, and the performance
and price of the battery vary depending on the composition and characteristics
of each material. Therefore, understanding the market trends and supply chain
status of these materials is essential to establishing a successful strategy
for the LIB industry.
2. LIB Market
Overview in H1 2024
Market Size and Growth Rate
The LIB market in the first half of
2024 grew by about 23% year-on-year in terms of shipments, reaching $51.5
billion in packs. Although the growth of demand for electric vehicles slowed,
the expansion of the energy storage system (ESS) market was a major growth
factor.
Key Market
Trends
During the first half of the year, major companies focused on reducing production costs and technological innovation to overcome the electric vehicle chasm, and in particular, BMS technology and fast charging technology received attention due to safety issues. In addition, the adoption of relatively inexpensive LFP batteries increased due to the demand for cost improvement and price competitiveness, and there were changes such as LG Energy Solution, a representative ternary battery player, signing an LFP battery supply contract with Renault.
LIB Major Companies Status
K-Battery (domestic 3 companies) recorded 14.7% market share (M/S) based on sales, LGES ranked 2nd, SDI 4th with 7.1%, and SK on 5th with 4.3%, with all 3 companies settling into the top 5. China's CATL maintained its lead with 31.6% M/S, and BYD ranked 3rd with 11.9% M/S.
In terms of shipment volume,
China's CATL (35.9%) and BYD (16.5%) ranked 1st and 2nd. K-Battery ranked 3rd
with LGES (12.1%), 5th with SDI (4.3%), and 7th with SK on (3.5%), with the
three domestic battery companies taking 19.9% of the market share.
Panasonic ranked 7th in terms of
sales and 6th in terms of shipment volume, focusing on sales of cylindrical
battery cells to Tesla.
While the rankings of the three
Korean companies, CATL, and BYD were solid, China's CALB showed rapid growth as
it began to supply volumes in earnest to major OEMs such as Geely Automobile,
Xpeng, and NIO.
Global Market
Changes and Outlook
In US and Europe, where rapid
expansion is expected due to the implementation of the IRA Act and the European
CRMA(Critical Raw Materials Act), the four major material companies are also
entering the market together with Korean, Chinese, and Japanese battery
companies or entering the market in the form of joint ventures. In addition,
direct contracts with global automobile OEMs are also emerging. It is expected
that the material companies that dominate this market in the future will
reorganize the industry structure.
3. Report
Configuration
LIB and 4 Major Materials Market Analysis in 2024
This report is largely divided into
three sections. The first covers the analysis of the lithium-ion secondary
battery market for the first half of 2024 and the annual outlook. It includes
the global lithium-ion secondary battery market status, including small IT
batteries, mid/large electric vehicles (xEVs), and energy storage systems
(ESS), as well as the annual outlook for 2024 from SNE's perspective.
The second section provides a
detailed analysis of manufacturers related to lithium-ion secondary battery
materials in Korea, China, and Japan. It covers the production capacity and
supply volume of global manufacturers, and includes detailed information on the
supply chain (SCM) for each material. It also analyzes the price trends for
each material and raw material from 2020 to the first half of 2024, and
provides an annual outlook and insights for 2024.
Finally, it analyzes the business
history and status, product information, etc. of representative companies for
each material by dividing them into Korea, China, and Japan, and covers issues
that emerged in the market in the first half of 2024.
4. Strong
Points of This Report
(1) Understanding recent market status
and trends:
You can understand global market
trends and major trends, including demand for the four major LIB materials and
performance by company.
(2) Analysis of major suppliers and
demand:
You can understand the supply
status of materials by major suppliers in the LIB 4 major materials market,
demand by secondary battery company, material price trends, and annual outlook.
In addition, it provides detailed quarterly status of major material
manufacturers in Korea, China, and Japan.
(3) Understanding SCM status:
You can understand the supply SCM
status of the four major materials of major LIB manufacturers.
(4) Analysis of changes in material
usage:
You can see detailed changes in the
usage of each material by major LIB companies by quarter from Q1 2023 to Q2
2024.
This report will help to provide an
overall understanding of the lithium-ion secondary battery market and materials
market and will serve as important data for predicting future markets.
[Contents] – 263
Page in total
1. EV / LIB
Market Dynamics
1-1. Review of EV (BEV+PHEV) sales and battery
usage in 2023
1-2. Outlook of battery usage for EV in 2024
1-3. Quarterly shipments of battery (xEV/ESS)
by major LIB companies
1-4. Yearly trends and outlook of battery
(xEV/ESS) by major LIB companies (2019~2024)
2. Cathode
Market Dynamics & Issues
2-1. Global cathode material market review in `24.H1
2-2. Quarterly cathode material usage trend
(by cathode material type)
2-3. Quarterly cathode material usage trend
(by region)
2-4. Cathode material usage trend by year (by
region)
2-5. Quarterly cathode material usage trend
(by application)
2-6. Quarterly cathode material usage trend
(by cell maker)
2-7. Analysis and forecast of cathode material
usage by major LIB companies (`23~`24F)
2-8. SCM analysis by cathode material supplier
(`23~`24F) – NCM, LFP
2-9. Shipment analysis by cathode material
supplier (`23)
2-10. Production capacity status and outlook
by cathode material supplier
2-11. Analysis of shipment volume by cathode
material supplier (`24.H1)
2-12. Cathode material price trend and
short-term outlook (`20.Q1~`24.Q4) - LMO, LFP, NCM, NCA, LCO
2-13. Price trend and short-term outlook of
precursor for cathode materials (`20.1Q~`24.4Q)
2-14. Price trend of cathode raw materials
(lithium, nickel, cobalt) (`20.Q1~`24.Q2)
2-15. Cathode materials (NCM/NCA) export scale
and ASP trends in Korea
2-16. Analysis of business status of major
cathode material companies (EcoPro, LGC, XTC, Ronbay, Hunan Yuneng (LFP),
Sumitomo Metal Mining, Nichia)
2-17. Business performance trends
of major cathode material companies
2-18. Major issues of cathode
material market in `24.H1
3. Anode
Market Dynamics & Issues
3-1. Global anode material market review in `24.H1
3-2. Quarterly anode
material usage trend (by anode material type)
3-3. Quarterly anode
material usage trend (by region)
3-4. Anode material usage
trend by year (by region)
3-5. Quarterly anode
material usage trend (by application)
3-6. Quarterly anode
material usage trend (by cell maker)
3-7. Analysis and
forecast of anode material usage by major LIB companies (`23~`24F)
3-8. SCM analysis by
anode material supplier (`23~`24F) – artificial graphite, natural graphite,
silicon anode material
3-9. Shipment analysis by
anode material supplier (`23)
3-10. Production capacity
status and outlook by anode material supplier
3-11. Analysis of
shipment volume by anode material supplier (`24.H1)
3-12. Anode material
price trend and short-term outlook (`20.1Q~`24.4Q) – Artificial graphite,
natural graphite by grade
3-13. Price trend of
anode raw materials (Normal Cokes, Needle Cokes) (`20.Q1~`24.Q2)
3-15. Anode material
(artificial graphite) export scale and ASP trend in Korea
3-16. Analysis of
business status of major anode material companies (Posco Future M, Daejoo, BTR)
3-17. Business performance trends of major anode material
companies
3-18. Major issues of anode material market in `24.H1
4. Separator
Market Dynamics & Issues
4-1. Global separator market review in `24.H1
4-2. Quarterly separator
usage trend (by separator type)
4-3. Quarterly separator
usage trend (by region)
4-4. Separator usage
trend by year (by region)
4-5. Quarterly separator
usage trend (by application)
4-6. Quarterly separator
usage trend (by cell maker)
4-7. Analysis and
forecast of separator usage by major LIB companies (`23~`24F)
4-8. SCM analysis by
separator supplier (`23~`24F) – wet, dry separators
4-9. Shipment analysis by
separator supplier (`23)
4-10. Production capacity
status and outlook by separator supplier
4-11. Shipment analysis
by separator supplier (`24.H1)
4-12. Separator price
trend and short-term outlook (`20.Q1~`24.Q4) – wet, dry separators
4-13. Separator
(artificial graphite) export scale and ASP trend in Korea
4-14. Analysis of
business status of major separator companies (SK IET, W-Scope, SEMCORP, Senior,
Asahi Kasei, Toray)
4-15. Business performance trends of major separator companies
4-16. Major issues of separator market in `24.H1
5. Electrolyte
Market Dynamics & Issues
5-1. Global electrolyte market review in `24.H1
5-2. Quarterly
electrolyte usage trend (by electrolyte type)
5-3. Quarterly
electrolyte usage trend (by region)
5-4. Electrolyte usage
trend by year (by region)
5-5. Quarterly
electrolyte usage trend (by application)
5-6. Quarterly
electrolyte usage trend (by cell maker)
5-7. Analysis and
forecast of electrolyte usage by major LIB companies (`23~`24F)
5-8. SCM analysis by
electrolyte supplier (`23~`24F)
5-9. Shipment analysis by
electrolyte supplier (`23~`24.H1)
5-10. Production capacity
status and outlook by electrolyte supplier
5-11. Electrolyte price
trend and short-term outlook (`20.Q1~`24.Q4) – Electrolyte for LFP, ternary,
LCO, LMO
5-12. Price trend by
electrolyte component material (additives, lithium salt, solvent)
(`20.Q1~`24.Q2)
5-13. Electrolyte
(artificial graphite) export scale and ASP trend in Korea
5-14. Analysis of
business status of major electrolyte companies (Enchem, Dongwha Electrolyte,
Tinci, Mitsubishi Chemical, Central Glass)
5-15. Business performance trends of major electrolyte companies
5-16. Major issues of electrolyte market in `24.H1