According to research data from the GGII research institute, the global lithium cobalt oxide cathode material market shipments in 2019 were 79,000 tons, a year-on-year increase of 17.9%, driving the shipment of cobalt tetroxide 64,000 tons, of which the Chinese market shipments 56,000 tons, accounting for 87% of the global market.
It is estimated that in 2025, the global shipment of lithium cobalt oxide materials will reach 96,000 tons, which will drive the shipment of cobalt tetroxide materials to 78,000 tons.
The global lithium cobaltate cathode material market in 2019 has the following characteristics:
1) Stable market growth is mainly driven by the 3C terminal market, and the acceleration of 5G marketization in 2019 will promote the demand for 3C digital products to a certain extent;
2) China's lithium cobalt oxide cathode material shipments accounted for a further increase in the proportion of the global market;
3) The global production capacity of lithium cobalt oxide cathode materials is further concentrated in China, which accounts for more than 80% of the global production capacity.
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Source: Gaogong Industry Research Lithium Battery Research Institute (GGII), March 2020
From the perspective of the market competition pattern of lithium cobalt oxide material shipments, the global lithium cobalt oxide market TOP3 companies account for more than 50% of the market, and they are all Chinese companies. Among them, Xiamen Tungsten New Energy has stable and high-quality customers and production and sales channels. Located in the market leading position.
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Uploading ... Data source: Lithium Battery Research Institute (GGII), March 2020
From the perspective of the market competition pattern of the shipment of cobalt tetroxide, a precursor of lithium cobaltate, the global market share of CR3 in the global market for cobalt tetroxide was 56.7%; from the market share of enterprise-end shipments, the global market for cobalt tetroxide in 2019 The top three companies are Huayou Cobalt, GEM and Zhongwei New Materials.
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Remarks: Only the tetracobalt used for lithium cobaltate is counted, and does not include the amount of foundry data. Source: Gaogong Lithium Battery Research Institute (GGII), March 2020
The digital equipment market has a stable source of customers and market demand, and the terminal market develops at a steady upward rate every year, which in turn drives the digital battery market to grow at a stable rate every year. However, the digital battery market is still fiercely competitive, and the upstream and downstream supply chains of leading companies are still highly bound.
The future market of lithium cobalt oxide cathode materials and cobalt tetroxide materials will show the following characteristics:
(1) The production capacity of lithium cobalt oxide cathode materials is further concentrated: the production capacity of foreign lithium cobalt oxide materials will be further reduced, and the domestic production capacity of lithium cobalt oxide materials will be further improved.
(2) The binding degree between the head digital battery companies and the material companies will be further strengthened: the production bases of global lithium cobalt oxide digital battery companies are mainly concentrated in China. Domestic digital battery raw materials have lower costs and a more complete supply system. Digital battery market scale accounts for more than 60% of the global market;
(3) The head lithium cobalt oxide and cobalt tetroxide material enterprises will further bind large customer resources, strengthen product production and marketing channels, and at the same time increase the distribution of upstream raw materials, further strengthen the construction of its own closed-loop supply chain, and thus strengthen its core competitiveness;
(4) The market concentration of cobalt tetroxide material is expected to be further improved: with the gradual release of production capacity of head precursor materials companies and the deepening of downstream demand and binding, the TOP3 market concentration will exceed 60%;
(5) As the commercialization of 5G accelerates, the demand for high energy density in digital batteries is further increased. The market application of tri-cobalt tetroxide materials with high voltage, high pressure and other properties will further increase.
