Forecasts for China’s lead-acid industry may be bleak but the country’s lithium-ion secondary battery market is expanding, reports Business Korea.
The report goes on to claim Korean battery manufacturers, which currently dominate the market, are mainly using cheaper Chinese products.
The report quotes market research firm B3, which states China’s share in the small lithium-ion battery market increased 7.6% to 21.1% on a sell-through basis between 2010 and 2014.
On top of that, China accounted for 55.2% of the global anode material market, 70% of cathode material, 67% of electrolytes, and 37.6% of separation membrane on a quantity basis last year, Yano Research Institute recently reported.
Last week BEST magazine exclusively reported (click here to read), how more than 100 Chinese e-bike battery firms had closed, and the big lead-acid industrial battery makers were seeing almost zero growth leading to a price war breaking out among the major SLI makers.
Meanwhile, the global lithium-ion battery material market continues to grow, with the market covering the four materials expanding by 10.6% from 2013 to reach US$5.85529 billion in 2014.