Top 10 lithium ion battery electrolyte company in China in 2022

Top 10 lithium ion battery electrolyte company in China in 2022

Tinci

Company profile: Tianci Materials was established in 1996 and currently has an annual production capacity of 106,000 tons of electrolyte, 10,000 tons of liquid lithium hexafluorophosphate and 2,000 tons of solid lithium hexafluorophosphate per year.

Projects under construction include a lithium battery material project with an annual output of 150,000 tons, a Ningde 100,000-ton electrolyte project, and a Czech 100,000-ton electrolyte project.

The company’s main customers are LG, Murata, ATL, CATL, BYD, Sony, Wanxiang Group, Guoxuan Hi-Tech, etc. In 2020, the company’s electrolyte shipments exceeded 73,000 tons, a year-on-year increase of more than 52%; in the first half of 2021, electrolyte shipments were 55,000 tons.

Company advantages: Tianci Materials has formed a vertically integrated industrial chain layout of “lithium carbonate-lithium hexafluorophosphate-electrolyte” and a horizontal business layout of “electrolyte-positive electrode materials”.

Around the electrolyte business, it has also deployed lithium hexafluorophosphate, new lithium salts, lithium iron phosphate, battery-grade iron phosphate, lithium carbonate, battery recycling and other fields through mergers and acquisitions.

In terms of customers, the company has rapidly increased the company’s share in the global electrolyte market by continuously developing internationally renowned customers and realizing bulk supply. Relying on several major customers in the power battery field, the company’s shipments remain the industry’s first.

In terms of production capacity, with the gradual release of the production capacity of the company’s main raw materials and electrolyte products, the company’s product quality and supply chain advantages have been consolidated, which will further increase its market share.

In addition, with the completion and operation of the company’s Czech project, the layout of the European market will greatly enhance its competitiveness in the global electrolyte industry.

Company website：https://www.tinci.com/

Total market value：86 billion RMB

Capchem

Company profile: Capchem was established in 2002. The current annual production capacity of electrolyte is about 75,400 tons, including 17,400 tons in Huizhou, 30,000 tons in Nantong and 28,000 tons in Suzhou. The company’s Hubei Jingmen and European Poland production bases are under construction, and Tianjin base and European Netherlands base are in the early stages of preparation.

In terms of electrolyte additives, the company has VC and FEC production capacity of 2,000 tons in Huaian Hankang and 1,000 tons in Nantong; in terms of new lithium salts, there is currently a small amount of production capacity. The LIFSI project, which is under construction, has an annual production capacity of 2,400 tons and is expected to be officially put into production in early 2022. 1200 tons of production capacity.

The company’s main customers include Samsung, LG, Panasonic, Yiwei Lithium, Sony, Lishen Battery, BYD, BAK Battery, Zhuhai Guanyu, CATL, etc. In 2020, the new Capchem battery chemical business achieved operating income of 1.66 billion yuan, and the electrolyte shipment volume was about 39,000 tons.

In the first half of 2021, Capchem’s battery chemicals business achieved operating income of 1.76 billion yuan, electrolyte shipments were about 38,000 tons, and gross profit margin remained at around 27.5%.

Company advantage: After years of development, Capchem has built a high competitive barrier in the field of electrolyte. In terms of industrial layout, Capchem has built a complete industrial chain of “additive-new lithium salt-solvent-electrolyte”.

In the future, with the commissioning of the Huizhou Capchem Phase III project and the Hunan Fubang new lithium salt project, it will be beneficial to enhance the comprehensive competitive advantage of the company’s lithium battery electrolyte business.

In addition, Capchem actively cooperates with overseas high-end customers in joint research and development, binds customer relationships, and is building a base in Poland.

And the Netherlands base under construction will provide sufficient capacity guarantee for the growth of electrolyte demand for European and Chinese customers, and provide customers with one-stop “product + solution”, which will also allow Capchem to have higher gross profit than pure OEM companies.

Company website：http://www.capchem.com/

Total market value：32.495 billion RMB

GTHR

Company profile: GTHR’s main products are electrolytes and silane coupling agents. The current annual production capacity of electrolytes is 70,000 tons, including 30,000 tons in Zhangjiagang and 40,000 tons in Ningde.

The production capacity under construction includes a production capacity of 40,000 tons in Poland and a new material project with an annual output of 80,000 tons in Ningde Huarong. The main electrolyte customers of GTHR include CATL, ATL, Lishen Battery, LG Chem, Panasonic, etc.

In 2020, GTHR’s electrolyte shipments will be about 34,000 tons, and operating income will be 1.52 billion yuan; in the first half of 2021, electrolyte shipments will be about 29,000 tons, and operating income will be about 1.6 billion yuan.

Company advantages: Since 2020, GTHR’s electrolyte project with an annual output of 40,000 tons has been successfully completed and put into operation, helping GTHR to further seize the Chinese market share.

In the first half of 2021, GTHR’s electrolyte business revenue has grown significantly. Under the background of tight supply of lithium salts and additives and substantial price increases, GTHR guaranteed the supply of lithium salts through long-term strategic cooperation with Xintai Materials, and ensured the supply of additives through self-built additives.

In the future, with the gradual release of the company’s overseas production capacity, its advantages in the electrolyte field will be more obvious. More importantly, with the successful spin-off and listing of Ruitai New Materials, GTHR will achieve leapfrog development with the help of the capital market just around the corner.

Company website：http://www.gthr.com.cn/

Kunlunchem

Company profile: Kunlun Chemical was established in 2004. The current annual production capacity of electrolyte is 28,000 tons, including 8,000 tons in Xianghe and 20,000 tons in Huzhou Phase I.

The second phase of Huzhou is under construction with a production capacity of 40,000 tons, with a total production capacity of 68,000 tons. It is expected to be put into operation in 2022.

The company’s main customers include CATL, SK, EVE, Guoxuan Hi-Tech, Wanxiang, Xingheng Power, Lishen Battery, Farasis, ZTE Paineng, Weihong Power, Haisida, Ruipu Energy, Penghui energy etc.

In 2020, Kunlun Chemical’s electrolyte shipments will be about 8,000 tons, and the electrolyte shipments in the first half of 2021 will be about 7,000 tons.

Company advantages: Kunlun Chemical is an old-fashioned electrolyte manufacturer in China, with rich experience in electrolyte technology research and development, production, and quality control.

Since 2021, the company’s capacity utilization rate has been steadily increasing every month. In addition, South Korea’s ENCHEM Co., Ltd. and Kunlun Materials held an online shareholding signing ceremony. The cooperation between the two will contribute to the development of the company’s international customers and the research and development of new technologies.

In 2021, Kunlun Chemical and Pizhou Economic and Technological Development Zone signed a project cooperation agreement. With the continuous expansion of the company’s production capacity and the layout of new lithium salt additives, it is expected to become the first echelon of China’s electrolyte industry.

Company website：http://www.kunlunchem.com.cn/

Sinochem

Company profile: Sinochem Lantian is a member company of Sinochem with 70 years of accumulation in the fluorine chemical industry. In the field of lithium battery materials, the main products include electrolyte, lithium hexafluorophosphate and PVDF and other materials.

Sinochem Lantian develops the electrolyte business through its subsidiary Zhejiang Zhonglan New Energy. Currently, it has an annual production capacity of 20,000 tons of electrolyte and a planned production capacity of 180,000 tons under construction. .

The company’s main customers include CATL, AVIC Lithium Power, Guoxuan Hi-Tech, EVE, Lishen Battery, Sunwoda, Phylion Power, etc. In 2020, Sinochem shipments will be 3,500 tons, and in the first half of 2021, electrolyte shipments will be 9,000 tons.

Company advantages: As a new electrolyte company on the list, Sinochem Lantian is one of the few national teams in the electrolyte field. Relying on 70 years of fluorine chemical industry accumulation and the strength of Sinochem Group, it quickly deployed its “electrolyte +” lithium battery material integration strategy, and formed an electrolyte upstream package including lithium hexafluorophosphate and additives.

Electrolyte, lithium hexafluorophosphate, and PVDF businesses all have a high-quality customer structure dominated by leading customers. It has technical advantages recognized by customers in the synthesis and development of new additives for electrolytes and iterative development of PVDF.

If the layout of electrolyte and upstream industry chain can be increased, Sinochem Lantian’s competitiveness in the electrolyte field is expected to be greatly improved.

Company website：http://www.sinochemlt.com/

Shanshan

Company profile: Shanshan’s electrolyte business has two companies, Dongguan Shanshan and Quzhou Shanshan, of which Quzhou Shanshan is a joint venture with Juhua Group.

The company has an annual production capacity of 40,000 tons of electrolyte and 2,000 tons of lithium hexafluorophosphate. The main customers include Yiwei Lithium Energy, Guoxuan Hi-Tech, Funeng Technology, Penghui Energy, BAK Battery and other second-tier power battery and consumer battery manufacturers.

In 2020, the company’s electrolyte business achieved a sales volume of 20,000 tons and an operating income of 550 million yuan; in the first half of 2021, the electrolyte business achieved a sales volume of 5,200 tons and an operating income of 280 million yuan.

Company advantages: Shanshan has a complete range of electrolyte products, and has certain electrolytes that match high-nickel ternary, high-voltage ternary, high-voltage lithium cobalt oxide, silicon carbon anode, high specific energy lithium iron phosphate, etc. Advantages, Shanshan Electrolyte has formed its own product and application system.

Affected by the tight supply of additive VC in the first half of 2021, the company’s shipments declined year-on-year. However, benefiting from the increase in the price of lithium hexafluorophosphate, the company’s electrolyte revenue and profit increased year-on-year. With the large release of the company’s own lithium hexafluorophosphate production capacity, its cost advantage in the electrolyte field will become more obvious.

Company website：http://www.ssgf.net/

Total market value：54.302 billion RMB

Sai MicroElectronics

Company profile: Sai MicroElectronics was established in 2007. Its main business is lithium battery electrolyte and aluminum-plastic composite film. The current annual production capacity of electrolyte is 25,000 tons.

In addition, Ganzhou Shilei New Energy, a joint venture with Shilei Group, has a lithium hexafluorophosphate project with an annual output of 2,000 tons. The projects under construction include Ganzhou Shilei New Energy’s annual production of 40,000 tons of electrolyte project, and the planned project is Huainan City’s annual production of 200,000 tons of electrolyte project.

The company’s main customers include Tianjin Co., Ltd., Luhua Technology, Zhuoneng New Energy, Thornton New Energy, etc. In 2020, Sai MicroElectronics’s electrolyte shipments will be about 9,000 tons, and the electrolyte shipments in the first half of 2021 will be about 7,000 tons.

Company advantages: Sai MicroElectronics has always attached great importance to the research and development of new products and new technologies, achieved breakthroughs in key technologies such as additives and electrolyte formulations with independent intellectual property rights, and cooperated with universities and R&D institutions for industry-university-research cooperation.

Continuously improve technological innovation capabilities and core technologies. The supply of lithium hexafluorophosphate is guaranteed through the joint venture with Shilei Group, and the company’s operation is also made more stable to a certain extent through strategic adjustment. However, if the company wants to rank in the first echelon, it still needs the help of capital to achieve leapfrog development.

Company website：http://www.sw-zh.com/

Total market value：12.928 billion RMB

JG Hi-Tech

Company profile: Jinguang Hi-Tech was founded in 2000. The main products are digital and power lithium battery electrolytes. The current electrolyte production capacity is about 20,000 tons, and the planned production capacity is 30,000 tons.

The company’s main customers are BYD, BAK battery, Lishen battery, AVIC lithium battery, etc. In 2020, Jinguang Hi-Tech’s electrolyte shipments will be about 7,000 tons, and the electrolyte shipments in the first half of 2021 will be about 4,300 tons.

Company advantages: Jinguang Hi-Tech attaches great importance to product quality control and new product development, and maintains cooperative research relationships with well-known universities and research institutes in China all year round. As the second echelon enterprise in the field of electrolyte.

Affected by the Waterma crisis, its IPO ended in failure. In the wave of rapid development of the new energy industry, if Jinguang Hi-Tech can achieve both business development and capital operation, its competitiveness in the electrolyte field is expected to be improved in the future.
Company website： http://www.jghitec.com/cn

Jinniu

Company profile: Tianjin Jinniu extended from lithium hexafluorophosphate to make electrolyte, and is one of the earliest enterprises in China to make electrolyte. The company has an annual production capacity of 10,000 tons of electrolyte and 1,000 tons of lithium hexafluorophosphate, mainly for self-use.

The company’s production capacity under construction includes 1,200 tons of lithium salt, 4,000 tons of lithium hexafluorophosphate, 45,000 tons of electrolyte, and 200 tons of new electrolytes.

The main customers of Tianjin Jinniu are Samsung, Murata, Lishen Battery, Guoxuan Hi-Tech, Gateway Power, AVIC Lithium Battery, BAK Battery, Ha Guangyu, etc. Tianjin Jinniu’s electrolyte shipments in 2020 are about 6,000 tons, and in the first half of 2021, electrolyte shipments are about 3,500 tons.

Company advantages: In recent years, the upstream raw materials of electrolyte have been in short supply, and the volume and price have risen. Tianjin Jinniu, as a lithium hexafluorophosphate enterprise, has been established for a long time, which ensures the production efficiency of the company’s electrolyte products and effectively reduces the price of raw materials.

In terms of production capacity, the company’s project with an annual output of 1,200 tons of lithium salt and 15,000 tons of electrolyte has started construction, and the project with an annual output of 4,000 tons of lithium hexafluorophosphate and 30,000 tons of electrolyte will be completed as scheduled.

Company website： http://b.tjjinniu.cn

HSAE

Company profile: HSAE is currently headquartered in Guizhou, and its subsidiaries include Hunan Hangsheng and Shandong Hangsheng. It is one of the second-tier enterprises engaged in the research and development, production and sales of lithium battery electrolytes in China.

The company’s existing production capacity is 25,000 tons, and the designed production capacity is 70,000 tons (including 30,000 tons for the first phase of the Guizhou base, 20,000 tons for the Shandong base and 20,000 tons for the Hunan base), and the overall planned annual production capacity is 100,000 tons.

The company’s main customers include BAK Battery, Vision Technology, Histar, Penghui Energy, and Far East Co., Ltd. In 2020, the company’s electrolyte shipments will be about 6,000 tons, and the shipments in the first half of 2021 will be about 5,000 tons.

Company advantages: Although HSAE has a short history in the field of electrolytes, it has been favored by listed companies and incorporated into it just 2 years after its establishment, which is enough to reflect its good development potential.