1. Market

Speaking of which, lithium iron phosphate battery shows a rapid growth momentum. According to research data, driven by the demand in the power and energy storage market, the shipment volume of lithium iron phosphate in China in 2022 was 445000 tons, an increase of nearly 40% month on month and 150% year-on-year.

2. Raw materials

The huge demand growth space attracts more and more enterprises to join the track of lithium iron phosphate battery. Numerous large chemical enterprises have made cross-border layouts, and the overall trend of integrating upstream and downstream production capacity has emerged.

3. Capital

Among the well-known enterprises involved in lithium iron phosphate battery business, 6 enterprises have completed or are in the process of IPO at present, and the lithium iron phosphate track is becoming more crowded. The enterprises to be listed in the future may face greater challenges.

In summary, Zhongzhi Company believes that, taking the energy storage market as an example, the current technological demand and policies are favorable for the incremental market of lithium iron phosphate. According to application scenarios, it can be divided into various purposes such as user side, power generation side, power grid side, transmission and distribution side, and auxiliary services. There are also differences in the application types and discharge requirements of energy storage for different purposes of power systems, and there is a positive development for scenarios and requirements. Based on the above analysis, as the main force of energy storage battery, lithium iron phosphate battery will usher in greater development opportunities.