Battery-grade Manganese Sulfate Market Survey 2022

Published Date: 2022-08-02
There are generally two process routes for battery grade manganese sulfate. The first is to electrolyze metal manganese sheets with sulfuric acid for acid dissolution to obtain manganese sulfate. The second is to start from ore and obtain high-purity manganese sulfate through reduction and crystallization. There are some differences in the details of the company's craftsmanship.

Development trend of battery grade manganese sulfate industry

1. In order to maintain the sustainable and healthy development of new energy vehicles and their related industries, the state has gradually raised the subsidy threshold for new energy vehicles, including the cruising range and energy density standards, which are tightening and declining year by year. Long cruising range is one of the main development directions of new energy vehicles, which puts forward higher requirements for the energy density of power batteries.

2. Compared with traditional ternary cathode materials, high-nickel ternary cathode materials have the advantages of higher energy density, longer driving range, lower comprehensive cost, etc., prompting more mainstream power battery companies to choose high-nickel The technical direction of ternary cathode materials has formed a continuous demand for high-nickel ternary cathode materials, leading the ternary precursor industry to develop in the direction of high nickel and high consistency.

3. Battery grade manganese sulfate is currently dominated by several Chinese manufacturers. In the next few years, manufacturers from other regions such as North America, Australia, and Europe may enter the industry. Potential entrants include Canada’s Manganese X Energy Corp, Europe’s Euro Manganese Inc. (EMN) and Keras Resources PLC, and Australia’s Element 25 Ltd. .

4. At present, NCM is mainly produced in a few countries such as China and Japan. In the next few years, companies in Europe and North America may also enter.

Battery Grade Manganese Sulfate Industry Key Drivers

[Industry policy] Promotion of electric vehicles and related industry policies. New energy vehicle incentive policies in various countries have been promulgated one after another, global mainstream car companies have added new energy vehicles one after another, and market participants have reached a consensus on the development of new energy vehicles. The global new energy vehicle market will remain positive in the medium and long term. No material adverse changes have occurred.

【Environmental protection factors】Factors such as global environmental protection promote the demand for electric vehicles and further drive the ternary materials and upstream raw material industries.

China's battery-grade manganese sulfate market status and overall scale analysis

In recent years, with the increasingly prominent global energy crisis and environmental pollution problems, the development of energy conservation and environmental protection related industries has been highly valued, and the development of new energy vehicles has reached a global consensus. The market size is expanding. The rapid development of the global new energy vehicle market has led to a rapid growth in power lithium-ion battery shipments.

According to the statistics of QYResearch: China's battery-grade manganese sulfate market will reach 1.81 billion yuan in 2021, and is expected to reach 6.18 billion yuan in 2028, with a compound annual growth rate (CAGR) of 16.9%.