Lithium-ion battery industry development and investment value research report -Lithium - Ion Battery Equipment
Recently, the South Korean industry has expressed concerns about the development of new energy vehicles and lithium batteries in China: the rapid development of Chinese latecomers threatens South Korea's major export industries such as automobiles, IT, electronics, petrochemicals and steel. In the future of emerging industries, China will be a huge threat. Among them, not only China's GCL and other solar companies are growing rapidly, but the battery industry is also developing rapidly.
According to market research agency data, China's smartphone shipments have grown rapidly for four consecutive years. In particular, Chinese brands currently account for more than 40% of the world's smartphone market, and have driven the development of related accessories such as lithium batteries. Lithium battery manufacturers exceeded demand by more than 60%. The core materials of Chinese lithium batteries - anode plates, negative plates, electrolytes, and separators also account for a large proportion of the world market. The report pointed out that the reason for the rapid development of China's lithium battery industry is that in order to save costs, the world's lithium battery manufacturers, including South Korea, have increased the use of low-priced Chinese raw materials; with the expansion of China's IT and automobile markets, the demand for lithium batteries has also increased. Gradually increase.(Lithium - Ion Battery Equipment)
Lithium batteries are more efficient and economical than other batteries, so they occupy an important position in the new generation of electric vehicles and large energy storage system markets. With the rapid development of lithium batteries in China, it is expected that South Korea will compete fiercely with China in the new energy market in the future.
Lithium battery industry development and investment value research report
We know that the traditional demand for lithium batteries is represented by mobile phones and computers, and its overall trend is steady growth. In addition to new energy vehicles, the future growth points of the industry are the gradual rise of market demand in emerging fields such as energy storage markets and drones, and lithium Batteries will accelerate the penetration of lead-acid batteries into the market share of electric bicycles.
Lithium battery industry development and investment value research report
"Lithium battery" is a type of battery that uses lithium metal or lithium alloy as the negative electrode material and uses a non-aqueous electrolyte solution. Lithium metal batteries were first proposed and studied by Gilbert N. Lewis in 1912. In the 1970s, M.S. Whittingham proposed and began to study lithium-ion batteries. Because the chemical properties of lithium metal are very active, the processing, storage, and use of lithium metal have very high environmental requirements. Therefore, lithium batteries have not been used for a long time. With the development of science and technology, lithium batteries have now become mainstream.
Lithium batteries can be roughly divided into two categories: lithium metal batteries and lithium-ion batteries. Lithium-ion batteries do not contain metallic lithium and are rechargeable. The fifth generation product of rechargeable batteries, lithium metal batteries, was born in 1996. Its safety, specific capacity, self-discharge rate and performance-price ratio are better than those of lithium-ion batteries. Due to its own high technical requirements, companies in only a few countries are currently producing such lithium metal batteries.
1. Traditional demand such as mobile phones is growing steadily
The traditional uses of lithium batteries are mainly in consumer electronics such as laptops and mobile phones, and the overall demand in this field is growing steadily. Among mobile consumer electronics products, the penetration rate of smartphones continues to increase, and the capacity of smartphones continues to increase. As the economy stabilizes, the demand for lithium batteries in my country's traditional fields is expected to grow steadily, and the increase in smartphone battery capacity will drive growth in material demand.
2. Tesla’s “Energy Wall” and Energy Storage Blue Ocean
The "Energy Development Strategic Action Plan" issued by the State Council introduces energy storage into the national energy plan, and clearly requires strengthening the overall planning of power supply and power grid, scientifically arranging peak shaving, frequency regulation, and energy storage supporting capabilities, and effectively solving the problems of wind and water abandonment. We believe that grid peak shaving and new energy storage will create a new blue ocean for lithium batteries.
3. Lithium batteries accelerate penetration into the electric bicycle market
Traditional electric bicycle power batteries are mainly lead-acid batteries. In recent years, greenness and lightweight have become the main trends in the development of electric bicycles. For this reason, lithium batteries are gradually penetrating the lead-acid battery market share. Affected by policies and with the gradual reduction of the unit watt-hour cost of lithium batteries in my country, the price advantage of lead-acid batteries in the field of electric bicycles will further shrink, and lithium batteries will undoubtedly accelerate their replacement in the market.
4. Overall analysis of performance
As industry demand grows, the overall performance of listed companies related to lithium batteries, lithium battery materials and lithium battery equipment in my country continues to grow. Taking lithium battery materials as an example, in order to further show the development of the industry, we extracted and calculated the lithium battery materials business of relevant listed companies. Based on the performance growth rate, combined with the industry characteristics and competitive landscape, the following main conclusions can be drawn:
(1) The performance of lithium carbonate upstream of the cathode continues to grow and improves significantly; (2) Cathode materials resume growth; (3) Anode materials continue to grow, while prices still have downward pressure; (4) Electrolytes grow across the board, and growth is expected to continue; (6) The diaphragm field continues to maintain a high growth trend, but prices will face certain downward pressure in the future. Overall, the performance of the lithium battery industry continues to grow, indicating that the industry's prosperity continues to rise.
6. Benefit from the development of new energy vehicles and energy storage industries
With the gradual rise of the electric vehicle and energy storage markets, global demand for lithium batteries is expected to maintain growth of more than 25%. In view of my country's improvement in the strategic positioning of new energy vehicles, the advantages of my country's new energy vehicle industry chain and the extraordinary emphasis on new energy, it is expected that the growth rate of my country's lithium battery demand will be higher than the global level.
Generally speaking, my country's demand for lithium batteries and lithium battery materials will significantly benefit from the high growth of new energy vehicles and energy storage industries. At the same time, combined with the overall profitability of the sector, there is a steady increase, and subdivided areas still have high added value, such as anodes Materials, electrolytes and separators, etc. For this reason, combined with the overall demand and profitability of the industry, we predict that the overall industry prosperity will remain upward in 2015.
7. Main line of investment
(1) Investment rating
Considering the development prospects of new energy vehicles, the market for lithium batteries in energy storage and other fields will gradually open up, and the overall profitability of the sector is rising steadily, we generally believe that the prosperity of the lithium battery industry will continue to rise, maintaining the "synchronous growth" of the lithium battery industry. City” investment rating.
(2) Main line of investment
my country's new energy vehicles are still expected to double in growth. The main logic lies in the continued introduction and gradual implementation of new energy vehicle policies. Technological progress and policy implementation will promote the improvement of charging infrastructure. At the same time, the rise of brands will drive the development of the industry, especially new energy vehicles. It is expected to take the lead in Large-scale operations in the public utility sector represented by buses.
In view of the development prospects of new energy vehicles, the new energy vehicle industry chain, such as lithium materials, lithium batteries, charging piles, new energy vehicle motors, new energy vehicle manufacturing and operations, and other subdivisions are ushering in a new round of investment feast. At the same time, markets in emerging fields such as energy storage and drones are gradually opening up. It is expected that the proportion of lithium batteries used in new energy vehicle power batteries and energy storage will increase significantly, thereby increasing the demand for lithium batteries, lithium battery materials and lithium battery equipment.
Overall, with the substantial increase in the base of new energy vehicles in my country, the demand for lithium batteries and lithium battery materials for new energy vehicles in my country will increase significantly; the performance of the lithium battery sector continues to grow, and combined with the profitability of sectors and subdivisions, we expect the industry prosperity to Keep going up. At the same time, combined with the characteristics of the industry, our main lines of investment in the lithium battery-related industrial chain are: 1) leading companies in the lithium battery and lithium battery material subdivisions, whose performance will benefit greatly from the increase in new energy vehicles; 2) rare earths supporting new energy vehicle motors Permanent magnet materials; 3) Upstarts entering the lithium battery industry through private placement or mergers and acquisitions; 4) Thematic investment opportunities driven by events and policies.
8. Risk warning
1. Systemic risks; 2. Domestic and foreign macroeconomic decline is greater than expected; 3. New energy vehicle progress and policy support are lower than expected; 4. Rare earth prices have fallen more than expected, and rare earth industry rectification is lower than expected; 5. Industry competition has intensified .
According to market research agency data, China's smartphone shipments have grown rapidly for four consecutive years. In particular, Chinese brands currently account for more than 40% of the world's smartphone market, and have driven the development of related accessories such as lithium batteries. Lithium battery manufacturers exceeded demand by more than 60%. The core materials of Chinese lithium batteries - anode plates, negative plates, electrolytes, and separators also account for a large proportion of the world market. The report pointed out that the reason for the rapid development of China's lithium battery industry is that in order to save costs, the world's lithium battery manufacturers, including South Korea, have increased the use of low-priced Chinese raw materials; with the expansion of China's IT and automobile markets, the demand for lithium batteries has also increased. Gradually increase.(Lithium - Ion Battery Equipment)
Lithium batteries are more efficient and economical than other batteries, so they occupy an important position in the new generation of electric vehicles and large energy storage system markets. With the rapid development of lithium batteries in China, it is expected that South Korea will compete fiercely with China in the new energy market in the future.
Lithium battery industry development and investment value research report
We know that the traditional demand for lithium batteries is represented by mobile phones and computers, and its overall trend is steady growth. In addition to new energy vehicles, the future growth points of the industry are the gradual rise of market demand in emerging fields such as energy storage markets and drones, and lithium Batteries will accelerate the penetration of lead-acid batteries into the market share of electric bicycles.
Lithium battery industry development and investment value research report
"Lithium battery" is a type of battery that uses lithium metal or lithium alloy as the negative electrode material and uses a non-aqueous electrolyte solution. Lithium metal batteries were first proposed and studied by Gilbert N. Lewis in 1912. In the 1970s, M.S. Whittingham proposed and began to study lithium-ion batteries. Because the chemical properties of lithium metal are very active, the processing, storage, and use of lithium metal have very high environmental requirements. Therefore, lithium batteries have not been used for a long time. With the development of science and technology, lithium batteries have now become mainstream.
Lithium batteries can be roughly divided into two categories: lithium metal batteries and lithium-ion batteries. Lithium-ion batteries do not contain metallic lithium and are rechargeable. The fifth generation product of rechargeable batteries, lithium metal batteries, was born in 1996. Its safety, specific capacity, self-discharge rate and performance-price ratio are better than those of lithium-ion batteries. Due to its own high technical requirements, companies in only a few countries are currently producing such lithium metal batteries.
1. Traditional demand such as mobile phones is growing steadily
The traditional uses of lithium batteries are mainly in consumer electronics such as laptops and mobile phones, and the overall demand in this field is growing steadily. Among mobile consumer electronics products, the penetration rate of smartphones continues to increase, and the capacity of smartphones continues to increase. As the economy stabilizes, the demand for lithium batteries in my country's traditional fields is expected to grow steadily, and the increase in smartphone battery capacity will drive growth in material demand.
2. Tesla’s “Energy Wall” and Energy Storage Blue Ocean
The "Energy Development Strategic Action Plan" issued by the State Council introduces energy storage into the national energy plan, and clearly requires strengthening the overall planning of power supply and power grid, scientifically arranging peak shaving, frequency regulation, and energy storage supporting capabilities, and effectively solving the problems of wind and water abandonment. We believe that grid peak shaving and new energy storage will create a new blue ocean for lithium batteries.
3. Lithium batteries accelerate penetration into the electric bicycle market
Traditional electric bicycle power batteries are mainly lead-acid batteries. In recent years, greenness and lightweight have become the main trends in the development of electric bicycles. For this reason, lithium batteries are gradually penetrating the lead-acid battery market share. Affected by policies and with the gradual reduction of the unit watt-hour cost of lithium batteries in my country, the price advantage of lead-acid batteries in the field of electric bicycles will further shrink, and lithium batteries will undoubtedly accelerate their replacement in the market.
4. Overall analysis of performance
As industry demand grows, the overall performance of listed companies related to lithium batteries, lithium battery materials and lithium battery equipment in my country continues to grow. Taking lithium battery materials as an example, in order to further show the development of the industry, we extracted and calculated the lithium battery materials business of relevant listed companies. Based on the performance growth rate, combined with the industry characteristics and competitive landscape, the following main conclusions can be drawn:
(1) The performance of lithium carbonate upstream of the cathode continues to grow and improves significantly; (2) Cathode materials resume growth; (3) Anode materials continue to grow, while prices still have downward pressure; (4) Electrolytes grow across the board, and growth is expected to continue; (6) The diaphragm field continues to maintain a high growth trend, but prices will face certain downward pressure in the future. Overall, the performance of the lithium battery industry continues to grow, indicating that the industry's prosperity continues to rise.
6. Benefit from the development of new energy vehicles and energy storage industries
With the gradual rise of the electric vehicle and energy storage markets, global demand for lithium batteries is expected to maintain growth of more than 25%. In view of my country's improvement in the strategic positioning of new energy vehicles, the advantages of my country's new energy vehicle industry chain and the extraordinary emphasis on new energy, it is expected that the growth rate of my country's lithium battery demand will be higher than the global level.
Generally speaking, my country's demand for lithium batteries and lithium battery materials will significantly benefit from the high growth of new energy vehicles and energy storage industries. At the same time, combined with the overall profitability of the sector, there is a steady increase, and subdivided areas still have high added value, such as anodes Materials, electrolytes and separators, etc. For this reason, combined with the overall demand and profitability of the industry, we predict that the overall industry prosperity will remain upward in 2015.
7. Main line of investment
(1) Investment rating
Considering the development prospects of new energy vehicles, the market for lithium batteries in energy storage and other fields will gradually open up, and the overall profitability of the sector is rising steadily, we generally believe that the prosperity of the lithium battery industry will continue to rise, maintaining the "synchronous growth" of the lithium battery industry. City” investment rating.
(2) Main line of investment
my country's new energy vehicles are still expected to double in growth. The main logic lies in the continued introduction and gradual implementation of new energy vehicle policies. Technological progress and policy implementation will promote the improvement of charging infrastructure. At the same time, the rise of brands will drive the development of the industry, especially new energy vehicles. It is expected to take the lead in Large-scale operations in the public utility sector represented by buses.
In view of the development prospects of new energy vehicles, the new energy vehicle industry chain, such as lithium materials, lithium batteries, charging piles, new energy vehicle motors, new energy vehicle manufacturing and operations, and other subdivisions are ushering in a new round of investment feast. At the same time, markets in emerging fields such as energy storage and drones are gradually opening up. It is expected that the proportion of lithium batteries used in new energy vehicle power batteries and energy storage will increase significantly, thereby increasing the demand for lithium batteries, lithium battery materials and lithium battery equipment.
Overall, with the substantial increase in the base of new energy vehicles in my country, the demand for lithium batteries and lithium battery materials for new energy vehicles in my country will increase significantly; the performance of the lithium battery sector continues to grow, and combined with the profitability of sectors and subdivisions, we expect the industry prosperity to Keep going up. At the same time, combined with the characteristics of the industry, our main lines of investment in the lithium battery-related industrial chain are: 1) leading companies in the lithium battery and lithium battery material subdivisions, whose performance will benefit greatly from the increase in new energy vehicles; 2) rare earths supporting new energy vehicle motors Permanent magnet materials; 3) Upstarts entering the lithium battery industry through private placement or mergers and acquisitions; 4) Thematic investment opportunities driven by events and policies.
8. Risk warning
1. Systemic risks; 2. Domestic and foreign macroeconomic decline is greater than expected; 3. New energy vehicle progress and policy support are lower than expected; 4. Rare earth prices have fallen more than expected, and rare earth industry rectification is lower than expected; 5. Industry competition has intensified .
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