Electrolyte solvents have a broad consumer market and industry concentration is high

Lithium-ion battery electrolyte is mainly composed of solvents, additives and electrolytes. The electrolyte solvent accounts for more than 80% of the total mass of the electrolyte and is the main raw material of the electrolyte.

The upstream of the electrolyte solvent industry chain is the supply of raw materials such as methanol, carbon dioxide, and propylene oxide; the midstream is the production of various subdivided products, including dimethyl carbonate (DMC), propylene carbonate (PC), and ethyl methyl carbonate. (EMC), ethylene carbonate (EC), etc.; downstream end products are lithium electronic batteries, which are widely used in energy storage systems, consumer electronics, new energy vehicles, aerospace and other fields.

According to the “Global Electrolyte Solvent Industry In-depth Market Research and Key Area Research Report 2023-2027” released by the Industrial Research Center, With the continuous development of our country’s economy, the continuous improvement of national living standards, the continuous growth of market demand for automobiles, consumer electronics, etc., coupled with the increasing national policy support, the domestic production and sales of new energy vehicles have experienced explosive growth, and the market demand for lithium electronic batteries has continued to grow. , providing a broad consumer market for electrolyte solvents. In 2022, my country’s new energy vehicle production will exceed 7 million vehicles, a year-on-year increase of approximately 97%, and sales will be approximately 6.9 million vehicles, a year-on-year increase of approximately 93%.

After a period of development, my country’s electrolyte solvent industry has continued to expand its production scale and made great progress in overall production technology. Its products have been recognized by the international market with its advantages in technology and price, and the industry has a broad overseas market. In addition, against the background of continuous advancement of domestic lithium battery technology and growing export volume, the market demand for electrolyte solvents has further increased, driving its shipments to rise significantly. At present, my country has become a major producer of electrolyte solvents. In 2022, domestic electrolyte solvent shipments will exceed 750,000 tons, accounting for more than 80% of the global total.

The production process of electrolyte solvent is relatively difficult, and the industry has certain technical barriers. At present, there are only a small number of domestic manufacturing companies. Leading companies occupy most of the market share by virtue of their advantages in technology and scale, and the industry concentration is high. The main domestic electrolyte solvent manufacturers include Shandong Haike Xinyuan Material Technology Co., Ltd., Shandong Hualu Hengsheng Group Co., Ltd., Shenghua New Materials Group Co., Ltd., Fushun Dongke Fine Chemical Co., Ltd., etc.

Industry analysts said that with the continuous improvement of my country’s economic development level, new energy vehicles, energy storage systems, electronic manufacturing and other industries continue to With the development, the market demand for electrolyte solvents will continue to grow, and the industry is booming. At present, my country’s electrolyte solvent industry has strong competitive advantages in the international market by virtue of its advantages in raw materials and labor costs. In the future, as environmental protection policies continue to become stricter and market competition continues to intensify, backward production capacity in the electrolyte solvent industry will gradually withdraw from the market, the voice of leading companies will continue to increase, and industry concentration is expected to further increase.