New Energy Power Battery Details-Lithium Battery

1. Power Battery Market
1, power battery industry chain: divided into battery materials, power batteries and systems two parts, according to Ping An Securities estimates, battery materials market size of more than 600 billion, power batteries and systems more than 520 billion.
2. Battery materials include: positive electrode materials (lithium iron phosphate, ternary), negative electrode materials, electrolyte, diaphragm, copper foil, and others. They are raw materials for manufacturing power batteries.
3, downstream scale: according to the China Association of Automobile Manufacturers data, 2022 domestic sales of 6.887 million new energy vehicles, 2023E domestic sales of 9.078 million new energy vehicles, year-on-year sales of 31.8. According to Ping An Securities, domestic power battery shipments reached 465.5GWh in 2022, up 111.6 percent year-on-year, of which exports reached 68.1GWh, accounting for 14.6 percent. Domestic power battery shipments are expected to reach 666.7GWh in 2023, up 43.2 percent year-on-year.
4, battery type: according to the data of the Association, 2022 square battery accounted for more than 90%, three yuan accounted for 37.5, lithium iron phosphate 62.4, the proportion of lithium iron phosphate continued to rise, three yuan decreased. (ternary price higher than lithium iron phosphate)
5, competitive landscape: domestic players dominate, including Ningde era, BYD, Zhongchuang Xinhang, Guoxuan Gaoke, Xinwanda, Fu Energy Technology.
2. battery materials
In terms of gross margin, the gross margin ranking of the five key materials is 49% for diaphragm, 32% for electrolyte, 24% for negative electrode materials, 20% for copper foil, 15% for lithium iron phosphate and 13% for ternary materials. (2022, Ping An Securities)
1. Cathode materials
The cost accounts for more than 45%, and common materials include lithium iron phosphate, ternary materials, and lithium manganate materials. The theoretical specific capacity (energy density) of the ternary lithium battery is 60% higher than that of lithium iron phosphate, the charging rate is higher, and the low temperature performance is good. It is suitable for high-end passenger cars. The development direction of ternary materials is high nickel, cobalt-free, single crystal (51.7%,2022). The price of lithium phosphate is lower, and the market share has continued to rise in recent years (37.7, 2022). Lithium manganate is mainly used for two-wheeled vehicles, the growth rate is not high.
Shipping Competitive Landscape
In 2022, the top ten domestic production of lithium phosphate: Hunan Yuneng (29%), German Nanometer (15.9), Longyan Technology, Rongtong Gaoke, Hubei Wanrun, Anda Technology, Guoxuan Gaoke, Fulin Seiko BYD, Shengxuan Technology.
In 2022, the top ten domestic production of three-yuan materials: Rongbai Technology (15.5 percent), Huayou Cobalt (13.8 percent), Dangsheng Technology (11 percent), Long-term Lithium, Nantong Ruixiang, Xiamen Tungsten New Energy, Zhenhua New Material, Beitri, Guangdong Bangpu, BASF Shanshan.
2. Negative electrode materials
Mainly composed of natural graphite (15%) and artificial graphite (84%), the top ten enterprises in 2022 production: Beitri, Shanshan shares, Yan Tailai, Guangdong Kaijin, Zhongke Electric, Shangtai Technology, Xiangfenghua, Guangdong East Island, Hebei Kuntian, Shenzhen Snow.
3. Electrolyte
Electrolyte uses can be divided into: power, energy storage, 3C, accounting for 68.7, 12.4, 18.9, respectively.
The top ten enterprises of electrolyte in 2022: Tianci Materials, New Zeus, BYD, Guotai Huarong, Kunlun Chemical, Sinochem Blue Sky, Farnleite, Zhuhai Saiwei, Shanshan New Material, Yienke Tianrun.
4. Lithium-electric copper foil
In 2022, the top ten enterprises of lithium-electric copper foil: Longdian Huaxin (15.5 percent), Defu Technology (13.1 percent), Jiayuan Technology (11.2 percent), Nord shares, Copper Bo Technology, Changchun Chemical, Huacheng New Materials, Zhongyi Technology, Copper Crown Copper Foil, Jiangtong Copper Foil.
Lithium-electric copper foil mainstream thickness is 6um,2022 market share of 78%, the direction of development is extremely thin.
5. Diaphragm
Diaphragms mainly include wet and dry diaphragms, with market share of 78.7 and 21.3, respectively.
2022 Diaphragm top ten enterprises: Enjet shares (38.1), Star Source Material (12.8), Sinoma Technology, ZTE New Material, Hebei Jinli, Huiqiang New Material, Jiangsu Health, North Star New Material, Blue Branch Road, Zhangzhou Pearl.
3. power battery structure and type
Overall structure of (I) power battery
1. Battery monomer: the smallest unit that makes up the power battery;
2. Battery module: several battery cells are welded together in parallel;
3. Battery unit: It is composed of several battery cells or battery packs connected in series;
4. CSC acquisition system: Each battery has a CSC information acquisition system to detect the voltage, temperature and other information of each battery cell or battery pack;
5. Control unit: The battery control unit (BMU) is installed inside the power battery to report the voltage, current, temperature and other information of the battery to the vehicle controller (VCU) and complete the control of the power battery according to the instructions of the VCU;
6. Battery high-voltage distribution unit: installed at the positive and negative output terminals of the power battery assembly, it is composed of high-voltage positive relay, high-voltage negative relay, pre-charge relay, current sensor and pre-charge resistor;
7. Cooling system: dissipate heat from the power battery to make it in the best working condition.
(II) cell type
According to the different packaging methods and cell shapes, the cells on the market can be divided into three categories: square cells, cylindrical cells and soft-packed cells. The first two are packaged with hard shells, mostly steel shells and aluminum shells.
Domestic power batteries mainly use square batteries, Tesla mainly uses cylindrical batteries. The cost and energy density of the ternary material are higher than that of the lithium iron phosphate material, and the safety is lower than that of the lithium iron phosphate material. Domestic lithium iron phosphate is growing faster than ternary materials.
4. battery development direction
General direction of (I)
1. Safety: There are usually tests such as acupuncture, overheating, overcharge, short circuit, etc., which represent the probability of battery burning in an unexpected situation.
Consistency: the premise of long-term stable work, including material consistency and PACK process consistency.
3, energy density: affect the mileage, the material end around the positive electrode to build a chemical system, PACK group efficiency improvement is the process means.
4, the number of cycles: affect the service life and mileage.
5, rate performance: affect the charging time, and negative gram capacity, rate is closely related.
Technical upgrade of (II) battery
Three-way positive electrode to high nickel, single crystal development, iron lithium positive electrode to high compaction, manganese iron lithium direction development, negative material to silicon-doped development. Square battery to CTP, CTC development, cylindrical battery to large cylinder, CTC development, blade battery upgrade development. Solid-state batteries replace electrolytes and diaphragms; sodium-ion batteries are developed.