Lithium Battery Market Will Soar

Himfr predicts that in the near future, the electric car battery components market will experience fast growth, and hybrid car and electric car lithium ion battery technology will be popular.

Himfr forecasts that in the next five years, with lithium ion batteries’ reduced prices and the basic industry development, the electric vehicles battery market will rapidly develop.

At present, lithium ion batteries use copper as anode and aluminum as cathode, and electrolyte is typical of lithium salt; the separate layer is mainly composed of polypropylene materials.

Himfr is expects that the electric vehicles battery materials market income compound annual growth rate from lithium batteries will reach 125%. Lithium battery anode materials’ annual production growth will accordingly increase 134%/year; lithium battery separation layer output growth will increase 129%/year; lithium battery electrolyte and additive production will increase annually 136%.

The heat insulation materials and electric vehicles thermal management system is the key to promoting electric vehicles. Lithium ion batteries, due to high energy density, are expected to replace nimh batteries applied to hybrid and electric vehicles.

Over the next few years, the electric vehicle battery industry development will be from the following factors: industry infrastructure development, product globalization and product safety, performance and cost of balance, and suppliers and end user cooperation.

With additional development of technology, the battery charge time will significantly shorten; one time recharge will drive longer, and battery energy will be greater.

Himfr reports that at present Asia is the main battery chemical materials market; the market share accounted for 80% globally. At the same time, the European and American markets are booming; the future they will rely on the important chemical material batteries market. As oil prices fluctuate, urbanization has changed energy demand and government encouragement through development of policies for battery technology will promote electric vehicle battery chemical materials market development.