SMM predicts that from 2024 to 2030, the global compound annual growth rate of lithium battery demand from the new energy vehicle market will be around 16%. Compared with 5 series ternary batteries, the global market share of lithium iron phosphate batteries continues to increase, bringing continued pressure. In terms of battery categories, from 2024 to 2030, the compound annual growth rate of my country's ternary cathode material output may reach about 6%; the annual compound growth rate of ternary cathode material output in countries and regions outside China may be about 4%. 

In comparison, the production of lithium iron phosphate batteries is increasing faster. The compound annual growth rate of lithium iron phosphate battery production from 2024 to 2030 is about 10%; the compound annual growth rate of lithium iron phosphate battery production outside China is 23%

Lithium Iron Phosphate Battery Technology - Battery Manufacturer
Battery technology based on lithium iron phosphate continues to improve as material applications increase.

Lithium iron phosphate offers significant cost advantages, while ternary batteries offer high energy density and significant recycling value

Comparison between ternary batteries and lithium iron phosphate batteries - current cost structure

Lithium iron phosphate batteries have obvious cost advantages compared to 5 series ternary batteries. The core difference comes from the cost deviation of cathode materials.

Selection of solid-state batteries: Ternary cathode materials may become a new growth point for the solid-state battery industry. High-end new energy vehicles have higher requirements for energy density, safety and low-temperature performance. Comparison of the performance of solid batteries and liquid batteries In terms of safety, solid-state batteries are expected to be non-flammable, non-explosive, and highly safe. In comparison, liquid battery organic electrolytes are easy to volatilize and burn.

In terms of energy density, solid-state batteries have high energy density and are compatible with high-voltage materials, while liquid batteries have an upper limit on energy density; in terms of thermal stability, solid-state batteries have good thermal stability, good cycle performance, and stable internal resistance; liquid batteries have poor thermal stability and are damaged when damaged. Prone to leakage.

In terms of service life, solid-state batteries have slower power decay and longer service life; liquid batteries have faster power decay and shorter lifespan. Lithium iron phosphate is king: Why it dominates the energy storage field Thanks to its excellent cycle performance, mature supply chain and cost advantages, the application of lithium iron phosphate in the energy storage field continues to grow.

Forecast Of Future Battery Market Share
Expected trend of global ternary batteries: Compared with 5 series ternary batteries, the global market share of lithium iron phosphate batteries continues to increase, bringing continuous pressure
SMM predicts that from 2024 to 2030, the global compound annual growth rate of lithium battery demand from the new energy vehicle market will be around 16%. In terms of battery categories, from 2024 to 2030, the compound annual growth rate of my country's ternary cathode material output may reach about 6%; the annual compound growth rate of ternary cathode material output in countries and regions outside China may be about 4%.

In comparison, the production of lithium iron phosphate batteries is increasing faster. The compound annual growth rate of lithium iron phosphate battery production from 2024 to 2030 is about 10%; the compound annual growth rate of lithium iron phosphate battery production outside China is 23%. %about.

Shanghai Nonferrous Metal Network 
https://news.smm.cn/news/102993012