Today’s battery industry, it is not difficult to find a variety of advanced battery technologies have emerged. Among them, lithium iron phosphate battery has become the focus of the market by virtue of its excellent performance and significant economic benefits. The key ingredient for making drop-in replacement battery and other lithium iron phosphate batteries is lithium iron phosphate cathode material.
In the first half of 2024, China’s total shipments of lithium iron phosphate cathode material reached 930,000 tons, an increase of more than 37% year-on-year. In this post, we will introduce you chinese top 10 LFP cathode material manufacturers. According to industry statistics, the market share of lithium iron phosphate cathode material in the whole cathode material has reached 66.1%. And these Top 10 LFP cathode material manufacturers will further increase their product market share in the first half of 2024.
Top 10 LFP cathode material manufacturers in China
Yuneng
In the first half of the year, Yuneng phosphate cathode material shipment achieved 309,400 tons, a year-on-year growth of 43.3%, and the shipment volume has been ranked first among top 10 LFP cathode material manufacturers since 2020. Among them, the sales volume of new products CN-5 series and YN-9 series was about 47,900 tons, accounting for about 15% of the company’s product sales volume, which gained wide recognition from customers and achieved rapid growth. CATL is the largest customer of Yuneng lithium iron phosphate, with a sales share of 28.39%, and BYD’s sales share is 9.69%.
Dynanonic
Founded in 2007, Dynanonic has a production capacity of 115,500 tons of phosphate-based cathode materials as its main product. The company’s core product is nano lithium iron phosphate, and new products are lithium manganese iron phosphate and lithium supplement. Among them, nano lithium iron phosphate is widely used in the manufacture of lithium-ion batteries, especially in the fields of new energy vehicles battery, consumer electronic battery, powerwall battery and energy storage battery, due to its characteristics of high safety, long cycle life and low cost.
WANRUN
Founded in December 2010, WANRUN products are mainly lithium iron phosphate and iron phosphate, etc. The company has laid out production bases in Hubei, Shandong and Anhui. The company has laid out production bases in Hubei, Shandong and Anhui, with an existing capacity of 468,000 tons/year. From January to June 2024, the shipment volume of WANRUN lithium iron phosphate products was 78,000 tons, an increase of 24.16% over the same period, and the gross profit margin of the products turned from negative to positive. At present, the second generation of high specific capacity lithium iron manganese phosphate is in the trial production stage, and different systems of sodium-ion battery cathode materials such as layered oxide class, polyanion class, Prussian blue/white class, and some models have realized mass production shipments.
LOPAL
LOPAL realized total operating revenue of 3.569 billion RMB in the first half of 2024. According to the operating data related to lithium iron phosphate disclosed in the same period, the company’s production and sales of lithium iron phosphate materials reached 48,500 tons and 47,900 tons in the second quarter of 2024, respectively. At present, LOPAL has five lithium iron phosphate anode material production bases in Jiangsu Jintan, Tianjin Baodi, Sichuan Pengxi, Shandong Heze and Hubei Xiangyang, with a completed capacity of over 240,000 tons/year. In addition, the first phase of LOPAL 30,000-ton lithium iron phosphate cathode material project in Indonesia is now in the trial production stage. This project is the first international scale lithium iron phosphate anode project of more than 10,000 tons.
FULIN
During the half-year 2024, FULIN realized operating revenue of 3.59 billion RMB, an increase of 54.81% from the same period of the previous year. Net profit attributable to shareholders of listed companies amounted to 130 million RMB, an increase of 140.78% over the same period of the previous year. Among them, lithium anode material is the main business income, accounting for 54.21%.
At present, its subsidiary SHENGHUA has an annual production capacity of 140,000 tons of lithium iron phosphate, while in Jiangxi Yichun base on the basis of the old factory, invested in an annual output of 150,000 tons of new high-pressure solid lithium iron phosphate and supporting the integration of the main material project. As one of the top 10 LFP cathode material manufacturers, FULIN, relying on the support of the existing technology system, can meet the diversified needs of customers and the market for lithium manganese iron phosphate and lithium iron phosphate for fast charging batteries.
Anda
Anda was founded in 1996, and has been involved in the development of lithium iron phosphate since 2011.Anda has realized an operating income of RMB 677,411,200. The company’s 60,000 tons/year lithium iron phosphate and supporting projects have been completed and transferred to fixed assets. At present, the lithium iron phosphate developed by the company mainly focuses on high energy density applications, with products used in passenger cars, pure electric buses, logistics vehicles, forklifts, energy storage and other fields.
Fengyuan
Founded in November 2016, Fengyuan products mainly include industrial oxalic acid, refined oxalic acid and oxalic acid derivatives, lithium iron acid and ternary materials (NCM). After years of development, it now has a total production capacity of 100,000 tons/year. The company’s production capacity has increased compared with the same period last year, and the operating income of lithium anode materials is 534 million RMB.
GOTION
GOTION was founded in 2006, is one of top 5 LiFePO4 cell manufacturers cooperate with Virtue. It focuses on Lithium Iron Phosphate materials, and its main products include Lithium Iron Phosphate materials and batteries, ternary materials and batteries, power battery packs, battery management systems and energy storage battery packs. The products are widely used in communication base stations, energy storage power stations, wind and solar hybrid, mobile power and other fields. From January to June this year, the company realized revenue of 16.794 billion RMB, an increase of 10.2% year-on-year. Achieved net profit of 271 million RMB, an increase of 29.69% year-on-year; realized net profit of 0.49 billion RMB, an increase of 38.71% year-on-year.
RONBAY
Founded in September 2014, RONBAY is principally engaged in the research, development, production and sales of battery cathode materials. It is mainly engaged in the R&D, production and sales of poly materials, lithium manganese iron phosphate materials, sodium electrode materials and poly precursors. The products are widely used in new energy vehicle power battery, energy storage equipment and electronic products.
EASPRING
EASPRING was founded in 1998. The products mainly include polymaterials, lithium cobaltate, lithium iron phosphate, anode materials for sodium-ion batteries, and key materials for solid-state lithium batteries. At present, the company has 51,000 tons of polymaterials/year, 0.3 million tons of lithium cobaltate/year, 0.2 million tons of lithium iron phosphate/year. At the same time the company base in Europe planning polymaterials 200,000 tons/year, lithium iron phosphate 300,000 tons/year.
On September 19th, the lithium iron phosphate anode material production line was successfully ignited for trial production, which also marked that the enterprise’s annual output of 200,000 tons of new high-pressure solid lithium iron phosphate and supporting main materials integration project entered the production and operation stage. The integration project of 200,000 tons of new high-pressure solid lithium iron phosphate and supporting main materials will be constructed in two phases, with a total investment of about 1.5 billion RMB in the first phase of the project, which will build six production lines and form a production capacity of 75,000 tons of lithium iron phosphate cathode materials.
