The electrolyte additive market continues to expand, with vinylene carbonate (VC) as its representative product

Electrolyte additives refer to a small amount of additives added to improve the electrochemical performance of the electrolyte and improve the quality of cathode deposition. Electrolyte additives play a decisive role in the basic physical and chemical properties of the electrolyte and are widely used in the field of lithium-ion batteries. There are many kinds of electrolyte additives. According to different functions, they can be divided into overcharge protection additives, conductive additives, film-forming additives, flame retardant additives, etc.

Fluoroethylene carbonate (FEC), vinylene carbonate (VC), lithium dioxaloborate (LiBOB), lithium hexafluorophosphate (LiPF6), 1,3-propane sultone (1,3-PS), etc. are electrolytes Additives represent products. Vinylene carbonate can be used as an organic film-forming additive to improve the charge and discharge efficiency and cycle characteristics of lithium-ion batteries. In recent years, my country’s vinylene carbonate market share has continued to increase, and its market size will reach 1.46 billion yuan in 2022, a year-on-year increase of 38.2%.

Electrolyte additives are mainly used in the field of lithium-ion batteries. Benefiting from national policy support and the continuous improvement of national living standards, my country’s new energy vehicle sales continue to grow. As a power battery for new energy vehicles, lithium-ion batteries have an increasingly strong market demand. Electrolyte additives can effectively improve the low-temperature output characteristics, conductivity, flame retardancy and overcharge safety of lithium-ion batteries. According to the “2023-2028 China Electrolyte Additive Industry Market In-depth Research and Development Prospects Forecast Report released by the Industrial Research Center, As the prosperity of the downstream industry increases, my country’s electrolyte additive market continues to expand, with a year-on-year growth of nearly 25% in 2022.

In January 2023, six ministries including the Ministry of Industry and Information Technology, the Ministry of Education, and the Ministry of Science and Technology jointly issued the “Guiding Opinions on Promoting the Development of the Energy Electronics Industry”. The document clearly stated that the supply of lithium battery materials should be guaranteed. Driven by national policies, the development speed of my country’s electrolyte additive industry will further accelerate.

Attracted by market prospects, the number of companies in my country’s electrolyte additive industry continues to grow, driving competition in the market to become increasingly fierce. The main players in my country’s electrolyte additive market include polyfluoropolymer, Yongtai Technology, Tianci Materials, Ruilian New Materials, Oak Technology, Jiangsu Cathay, Huasheng Lithium Battery, Vosges Technology, Fuxiang Pharmaceutical, Taihe Technology, etc. Huasheng Lithium Battery is my country’s leading electrolyte additive company, with independent R&D and production capabilities. It has currently cooperated with lithium-ion battery manufacturers such as CATL, Mitsubishi Chemical and BYD.

Industry analysts people said that benefiting from the rapid development of the lithium-ion battery industry, the market demand for electrolyte additives continues to grow, and the industry development prospects continue to good. In recent years, the number of electrolyte additive manufacturers in my country has continued to grow, and the market competition has become increasingly fierce. It is expected that companies with high-performance electrolyte additive production capabilities will occupy more market shares in the future.