Zhitong Financial APP learned thatPVDF is a positive binder and diaphragm coating material for lithium battery. the price has soared from 100000 yuan per ton in April last year to about 500000 yuan per ton today, up 400% in just one year.Not only that, the price of R142b, the main supporting raw material for the production of PVDF, exceeded 200000 yuan / ton, with a cumulative increase of 1200% over the past year. CITIC said that due to less new production capacity in the industry in 2022, the price of lithium binder PVDF is expected to continue to rise in the future. CITIC predicts that it will be difficult to alleviate the shortage of PVDF supply in the next two years, and the high economy will continue.
Since the second half of 2001, with the rapid development of new energy vehicles, energy storage and other markets, the demand for lithium grade PVDF has ushered in explosive growth. As an inactive component in lithium battery, binder is a kind of excipient with high technical content, which has a great influence on battery capacity, charge and discharge performance, cycle life and so on. As a commonly used oily binder, PVDF is widely praised in the positive link of high voltage because of its strong bonding, chemical stability and good temperature characteristics. it beats a lot of water-based binders and now accounts for 90% of the application.
According to the estimates of the industry, the global demand for lithium-grade PVDF is about 57000 tons in 2022, and the global demand for lithium-grade PVDF will exceed 120000 tons by 2025. From the perspective of the domestic market, other institutions have previously predicted that China's demand for lithium grade PVDF is expected to increase from 25000 tons in 2021 to 94000 tons in 2024, with a compound growth rate of more than 55 per cent from 2021 to 2024.
Under the high economic trend of the new energy industry, global lithium battery shipments will continue to maintain high growth in the future. By 2025, Ningde era production capacity planning will be about 670GWh, BYD planning will exceed 600GWh, Honeycomb Energy Planning 600GWh, China Chuangxin Airlines Planning 500G Whery LG New Energy Planning 430GWh, Guoxuan Hi-Tech Planning Super 300GWh, Yiwei LiNeng Planning 300G Whminute ski Planning 200GWh, Panasonic Planning 160GWh, Xinwanda Planning Super 140GWh, Funeng Technology Planning Super 120GWh.
At present, the global automobile electrification wave is speeding up, and the demand of the downstream enterprises of PVDF is accelerating. In the face of huge demand, the production capacity of PVDF has been limited by the shortage of raw materials R142b and high technological requirements, production capacity has not been effectively improved, there is still a huge supply gap.
From the current supply side, although the total production capacity of China's PVDF industry is 71000 tons / year in 2021, most of them are conventional products, and the production capacity of lithium PVDF is relatively small. According to industry statistics, the annual production capacity of lithium binder PVDF in China is only 19000 tons / year in 2021, and there is a huge supply gap.
Under the temptation of strong demand, the original PVDF manufacturers and fluorine chemical enterprises have joined the army of PVDF production expansion. These include: Lianchuang shares, Dongyue Group, Juhua shares, Haohua Technology, Yonghe shares, Sinochem Blue Sky, Sanai Fu, Funolin, Deyi New Materials, Shenzhen Xinxing, Tianlin New Materials, PUTailai, Liwen Chemical, Zhongchuang Environmental Protection and so on.
However, the expansion of PVDF is easier said than done. Different from conventional PVDF materialsThe technical barrier of lithium grade PVDF is very high, and only a few enterprises have the production capacity for a long time.
According to the analysis of industry insiders, lithium grade PVDF is not only complex in process and difficult to prepare, but also must be matched with raw material R142b, which has been strictly controlled by many countries around the world. According to the Montreal Agreement, developed countries have basically stopped producing R142b due to environmental protection and pollution problems, and China is constantly cutting its production quotas. Relevant data show that the current domestic total production capacity of R142b is about 150000 tons, and there is no new capacity expansion before the end of 2022.
On the other hand, the production expansion cycle of PVDF takes about 2-3 years, and there is an one-year certification cycle. Even if there is new production capacity, it is difficult to release it in the short term. According to industry statistics, at present, the new production capacity of PVDF under construction and planning for lithium battery binder in China is expected to be as high as 124000 tons / year, but the progress of construction and production is generally slow, and many of them will not be put into production until 2022.
CITIC said that due to less new production capacity in the industry in 2022, the price of lithium binder PVDF is expected to continue to rise in the future. CITIC predicts that it will be difficult to alleviate the shortage of PVDF supply in the next two years, and the high economy will continue.