The aluminum-plastic film, one of the lithium battery materials, may enjoy the domestic alternative dividend. With the large demand of the head battery factory, the Chinese market space is gradually opening up. According to the research and calculation data reported by many institutions, the market scale of aluminum-plastic film is expected to reach 10 billion by 2025.
The financial Associated Press reporter learned from multiple interviews that at present, some companies have cut into the supply chain of head battery manufacturers, and many companies are actively working on power battery customer certification. With the opening of the market, most companies have put forward relatively clear plans for production expansion.
Domestic aluminum plastic film welcome import substitution
With the surge in demand, China's technological upgrading and other factors, domestic aluminum-plastic film ushered in market space. Shanghai Haishun New Pharmaceutical Packaging Co.Ltd(300501) (300501. SZ) said in an investigation by investment institutions that the new energy industry has developed rapidly, soft pack battery enterprises such as LG and ski have continuously increased production capacity, Byd Company Limited(002594) blade batteries have also begun to use aluminum-plastic film, the balance between supply and demand has been broken, and Chinese enterprises have the opportunity to enter the market due to the impact of the epidemic.
It is understood that due to the small share of soft pack batteries in China and technical barriers, the application of aluminum-plastic film in China was limited. The Byd Company Limited(002594) soft wrapped lithium iron phosphate (also known as small blade) battery adopts secondary sealing technology, that is, the cell is encapsulated by soft package (aluminum plastic film) and the blade battery is encapsulated by hard aluminum shell, which increases the demand for aluminum plastic film.
At present, relevant listed companies are actively expanding power battery customers. A person from the Securities Department of Crown Advanced Material Co.Ltd(688560) (688560. SH) told the financial associated press that there are three rounds of certification of Byd Company Limited(002594) and is currently in the third round of testing. Xinlun New Materials Co.Ltd(002341) (002341. SZ) said that it had supplied aluminum-plastic film for power to customers such as Gotion High-Tech Co.Ltd(002074) , Farasis Energy (Gan Zhou) Co.Ltd(688567) , LG, etc. previously, a paper announcement in December showed that honeycomb energy would purchase 20 million square meters of aluminum-plastic film products from its subsidiary Xinlun new energy from 2022 to 2023.
Among the listed companies, Crown Advanced Material Co.Ltd(688560) , Xinlun New Materials Co.Ltd(002341) , Shanghai Zijiang Enterprise Group Co.Ltd(600210) (600210. SH) have entered the power battery supply chain system, and Zhejiang Wazam New Materials Co.Ltd(603186) (603186. SH), Shanghai Haishun New Pharmaceutical Packaging Co.Ltd(300501) and other companies are also starting to develop relevant customers.
Data source: interview and incomplete sorting by financial Associated Press, company announcement and Institutional Research Report
According to the calculation of the research report, 70% - 80% of the current aluminum-plastic film market is occupied by overseas enterprises, and there is a large space for domestic substitution. From the perspective of global aluminum-plastic film market space, it is estimated that the market space of Chinese manufacturers is expected to reach 10.3 billion yuan and CAGR will reach 51% in 2025.
Active layout of industrial companies
In the face of the gradual opening of the aluminum-plastic film market, relevant listed companies are actively layout.
Shanghai Haishun New Pharmaceutical Packaging Co.Ltd(300501) people from the Securities Department told the financial associated press that unlike 3C customers, power battery customers need to provide products on the production line for sample delivery. The company's 20 million square meter / year production line is expected to be put into operation in 2022, and then the power battery customer certification process will be started.
Crown Advanced Material Co.Ltd(688560) the above people told the financial associated press that the aluminum-plastic film raising and investment project with an annual output of 10 million square meters has entered the trial operation stage. By the end of 2021, the company's aluminum-plastic film production capacity has reached 20 million square meters / year.
Xinlun New Materials Co.Ltd(002341) the above personnel told the financial associated press that in addition to the existing production capacity, the company's new production line with an investment of 660 million yuan is being implemented as planned. In addition, the company's Japanese production line is also being relocated. The announcement shows that the new production capacity of 660 million yuan will reach 72 million square meters / year. After the production capacity is put into operation, the total production capacity of the company may exceed 144 million square meters / year.
Shanghai Zijiang Enterprise Group Co.Ltd(600210) people from the Securities Department told the financial associated press that in addition to the existing production capacity, the company is also expanding its production through Ma'anshan and Zizhu projects. Yunnan Energy New Material Co.Ltd(002812) (002812. SZ) previously announced that it planned to raise 1.6 billion for the construction of aluminum-plastic film production line. After the project is completed, it will achieve a production capacity of 280 million square meters / year.
Data source: interview and incomplete sorting by financial Associated Press, company announcement and Institutional Research Report
(Financial Associated Press)
