Global Ternary Cathode Materials (NCA, NCM) and Battery Industry Outlook to 2023: Focus on the Chinese Market –

The “Global
and China Ternary Cathode Materials (NCA, NCM) and Battery Industry
Report, 2017-2023” report has been added to’s

China recorded RMB41.71 billion in total output value and 208kt in
output of cathode materials in 2017, a year-on-year increase of 95.1%
and 29.53%, respectively. Specifically, the country produced 86kt of
NCM, 45kt of LCO and 22kt of LMO, up 58.6%, 26.8% and 43.9% over the
same period of the previous year separately. LFP output fell slightly to
55kt in the year.

The country’s shipments of ternary cathode materials amounted to 86.1kt
on a market scale of RMB17.235 billion in 2017, representing a
year-on-year surge of 58.6% and 111.83%, respectively.

Growth in shipments and market size was largely driven by the
factors as follows:

1. More than 60% of new energy vehicles (811,000 units)
produced in 2017 were new energy passenger cars on which ternary
batteries found an increasingly higher proportion, contributing to
growth in the demand for ternary cathode materials.

2. New subsidy policies put forward higher requirements
on energy density of NEV power batteries, promoting major domestic power
battery makers to intensify their efforts for ternary power batteries;

3. As year-end LCO price soared by more than 60% since
the start of 2017, some digital battery makers strengthened substitution
of ternary materials for LCO in mid and low-end fields so as to reduce

4. Lithium carbonate prices continued to rise in the
second half of 2017, driving up the prices of ternary materials.

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