1. Industry Overview
In 2023, China's total production capacity of lithium hexafluorophosphate is approximately 339,000 tons/year, a year-on-year increase of 53.4%; the total output is approximately 137,000 tons/year, a year-on-year increase of 7.0%; the industry's overall operating rate is approximately 41.0%, a year-on-year decrease of 16.9 percentage points.
In 2023, China's new lithium hexafluorophosphate production capacity will be approximately 109,000 tons/year.
In 2023, domestic lithium hexafluorophosphate production capacity will continue to expand, and supply-side production capacity will be rapidly released. Coupled with the decline in the price of raw material battery-grade lithium carbonate, prices will fall sharply, and industry competition will become increasingly fierce. The overall operating rate is approximately 41.0%.
2. Production Capacity Analysis
1. Production capacity scale
In 2023, among the 31 manufacturers counted, the production capacity of lithium hexafluorophosphate is relatively concentrated, with a capacity CR5 of 64%.
2. Regional distribution of production capacity
Lithium hexafluorophosphate production equipment is mainly concentrated in East China, with a total of 20 companies, with a total production capacity of 230,000 tons/year, accounting for 71.6% of the country’s total production capacity, an increase from 2022; followed by central China, a total of 6 companies, with a total production capacity of 7.6 10,000 tons/year, accounting for 23.7% of the country’s total production capacity, and the proportion has decreased compared with 2022. Judging from the distribution of provinces, the top three provinces with production capacity in 2023 are Jiangxi, Henan and Jiangsu/Fujian.
3. Analysis of proposed projects under construction
Since the second half of 2020 to the present, the rapid development of new energy vehicles, energy storage and other fields has driven the continued high prosperity of lithium hexafluorophosphate. Not only have existing companies significantly expanded production, but they have also attracted a large number of new entrants. Lithium hexafluorophosphate construction projects have sprung up like mushrooms after a rain. ACMI has statistics on lithium hexafluorophosphate projects under construction and planned in China. As of the end of 2023, there are about 75 lithium hexafluorophosphate projects under construction and planned in China, with a total planned production capacity of 1.37 million tons per year, a year-on-year increase from 1.14 million tons in 2022. 20.3%.