EVTank: In 2024, China's lithium-ion battery electrolyte shipments reached 1.527 million tons, an increase of 34.2% year-on-year.

Recently, research institutions EVTank and Evie Economic Research Institute jointly released the "China Lithium-ion Battery Electrolyte Industry Development White Paper (2025)". EVTank statistics show that driven by lithium-ion batteries, especially energy storage batteries, the global shipment of lithium-ion battery electrolytes reached 1.662 million tons, an increase of 26.7% year-on-year. The White Paper data shows that in 2024, China's lithium-ion battery electrolyte shipment reached 1.527 million tons, an increase of 34.2% year-on-year, further increasing in growth rate, with China's electrolyte shipment accounting for over 90% of the global total. Looking at the main companies, the shipment volumes of most electrolyte companies in China are showing positive year-on-year growth, with companies like Shida Shinghwa Advanced Material Group and Zhejiang Yongtai Technology Co. seeing a year-on-year increase of over 3 times. Guangzhou Tinci Materials Technology ranked first with a shipment volume close to 500,000 tons, with a domestic market share of 31.6%, which is a decrease compared to the 2023 figure. EVTank statistics show that in 2024, the top four market shares of Chinese electrolyte companies remain unchanged, namely Guangzhou Tinci Materials Technology, BYD Company Limited, Shenzhen Capchem Technology, and Jiangsu Ruitai New Energy Materials. In 2024, the threshold for the top ten companies' shipment volume was raised to 50,000 tons, a significant increase compared to 20,000 tons in 2023. Apart from Kunlun New Materials, Zhuhai Siwei, and Fanlit, three new companies entered the list in 2024: Shida Shinghwa Advanced Material Group, Weihai Caijin, and Zhejiang Yongtai Technology Co. Additionally, EVTank's data in the "China Lithium-ion Battery Electrolyte Industry Development White Paper (2025)" shows that in 2024, companies with a shipment volume exceeding 10,000 tons include China Blue Sky Chemical Group, Gotion, Enkotech, Hengsheng Lithium Energy, and Shanshan. In the White Paper, EVTank also provides statistics and analysis of the shipment volumes of Japanese companies such as Mitsubishi Chemical, Central Glass, Mitsui Chemicals, and Tomiyama Pure Chemical, as well as Korean companies like Soulbrain, Dongwha, and Enchem. In terms of the competition landscape of Chinese electrolyte companies, there have been significant changes in the rankings of the top ten companies in 2024 compared to 2023. The leading company, Guangzhou Tinci Materials Technology, saw a decline in market share, and its monopoly position was further threatened. China Blue Sky, Shanshan New Materials, and Enkotech were replaced by Shida Shinghwa Advanced Material Group, Weihai Caijin, and Zhejiang Yongtai Technology Co. The CR10 of the Chinese electrolyte industry decreased from 90.2% in 2023 to 87.9% in 2024, intensifying market competition. With regards to market size, EVTank statistics show that the global electrolyte market size in 2024 was 40.98 billion yuan, a 21.5% year-on-year decrease, continuing the trend of decline seen in 2023, primarily due to the decrease in electrolyte prices. The "China Lithium-ion Battery Electrolyte Industry Development White Paper (2024)" shows that in December 2024, the average selling price of electrolytes in China had fallen below the floor price of 20,000 yuan/ton.