According to the data of business society, the price of lithium iron phosphate in 2021 was 37000 yuan / ton in January and 99000 yuan / ton as of December 27. The overall increase of the whole year was 167.57%, reaching 62000 yuan / ton. According to statistics, the capacity of lithium iron phosphate in 2020 was 320000 tons, and the capacity of lithium iron phosphate was estimated to reach 920000 tons as of December 2021. The capacity also doubled.
The business society believes that lithium iron phosphate is still in the stage of rapid development. Under the strong stimulation of short supply, lithium iron phosphate capacity projects continue to expand and increase production. It is expected that the increase projects will be released in 2022, the market supply of lithium iron phosphate will be alleviated, and the market share will further increase. It is expected that the expansion of enterprises and the rise of prices will advance side by side in the next year.
In terms of A-share investment, Caixin Securities pointed out that it is expected that lithium iron phosphate will maintain its cost advantage for a long time without a major breakthrough in the battery technology route. With many car enterprises represented by Tesla choosing lithium iron phosphate batteries for supporting, it is expected that the installed capacity of lithium iron phosphate in China will account for 60% in 2025 and 20% overseas, It is expected that the medium and long-term penetration rate of lithium iron phosphate in the world is expected to reach 35%.
The agency believes that the preparation process of lithium iron phosphate has been relatively mature, and the prices of materials with similar properties from various manufacturers are also similar. With the continuous overcoming of preparation barriers, the continuous improvement of downstream demand and the continuous release of supply side, it is expected that lithium iron phosphate will show more commodity properties in the future and dilute the product premium brought by manufacturing barriers. In this process, the cost control ability of lithium iron phosphate material manufacturers is the source of their excess income. The layout of raw material end can effectively reduce the cost of lithium iron phosphate. It is suggested to pay attention to the industry leader Shenzhen Dynanonic Co.Ltd(300769) with rapid growth under the high demand for lithium iron phosphate; In addition, it is suggested to pay attention to chemical enterprises with resource advantages that cross-border enter the lithium iron phosphate industry, such as Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) , Sichuan Development Lomon Co.Ltd(002312) , Jiangsu Lopal Tech.Co.Ltd(603906) .
(Securities Times)
