GGII: In 2024, China's lithium battery shipments reached 1175GWh, a year-on-year increase of 32.6%.

The Statistics from the High-Growth Industrial Research Institute (GGII) show that in 2024, China's lithium battery shipments reached 1175GWh, an increase of 32.6% compared to the previous year. Among them, the shipments of power, energy storage, and digital batteries were 780+GWh, 335+GWh, and 55+GWh respectively, with year-on-year growth rates of 23%, 64%, and 14%. In terms of technical routes, the shipments of lithium iron phosphate power batteries reached 560+GWh in 2024, accounting for 72% of the total power battery shipments. From 2022 to 2025, China's lithium battery shipments and forecasts (in GWh) are as follows: Note: Digital batteries include 3C digital, power tools, and small power, among others; Data Source: GGII Cathode: Iron phosphate lithium materials account for nearly 74% of the market According to GGII research data, China's cathode material shipments reached 3.35 million tons in 2024, a year-on-year increase of 35%. Among them, shipments of iron phosphate lithium materials reached 2.46 million tons, an increase of 49% compared to the previous year, accounting for nearly 74% of the total cathode material shipments and leading the growth of the entire cathode material industry. Ternary materials saw a slight increase with shipments of 0.65 million tons. The growth of iron phosphate lithium materials is mainly driven by the increase in shipments of iron phosphate lithium batteries. In 2024, China's shipments of iron phosphate lithium batteries exceeded 900GWh, a year-on-year increase of over 35%. Differentiated iron phosphate lithium materials can enhance the industry's bargaining power, with applications such as high-density and high-rate iron phosphate lithium accelerating. By the end of 2024, monthly shipments of high-density iron phosphate lithium (>2.6g/cc, second calcination) exceeded 35,000 tons, and high-rate (discharge rate >30C) iron phosphate lithium exceeded 2,000 tons. Empowering consumer products (such as AI) with technology is leading to a new wave of upgrades in the consumer market. According to IDC data, global tablet shipments in 2024Q3 increased by over 20% year-on-year, and global smartphone shipments in 2024 increased by over 6% year-on-year. The growth in the digital market is crucial for the increasing demand for lithium cobaltate materials. Cathode Materials Shipments in China in 2023-2024 (in ten thousand tons) Data Source: GGII Electrolyte: Electrolyte shipments reached 1.47 million tons According to GGII research data, China's electrolyte market saw shipments of 1.47 million tons in 2024, a year-on-year increase of 32%. In terms of technological development, battery formulation technology iterations and cost considerations have led to a continuous reduction in the amount of electrolyte per GWh of battery. In 2024, China's electrolyte shipments accounted for over 90% of the global market share, mainly due to the cost advantage of domestic electrolyte products. In terms of price trends, compared to 2024, prices of materials such as solvents, lithium salt electrolytes, and additives in the electrolyte will see a slight increase (within 5%) in 2025, but the industry as a whole may not see significant improvement. Electrolyte Shipments in China from 2022 to 2024 (in ten thousand tons) Data Source: GGII Anode: Anode material shipments reached nearly 2.1 million tons - 4C fast charging materials enter mass production According to GGII data, China's lithium anode material shipments reached 2.08 million tons in 2024, a year-on-year increase of 26%. Among them, shipments of synthetic graphite and natural graphite materials were 1.81 million tons and 26 thousand tons respectively. In terms of specific products, 4C synthetic graphite materials saw a significant increase in the field of power batteries in 2024, and the development and verification of 6C synthetic graphite materials was intensified. The market share of 314Ah storage products in 2024 exceeded 40%, leading to a 3% decrease in the average usage of anode materials per GWh of storage lithium batteries. Anode Materials Shipments in China from 2022 to 2024 (in ten thousand tons) Data Source: GGII Separator: Separator shipments exceeded 22 billion square meters According to GGII research, China's lithium battery separator shipments reached 22.3 billion square meters in 2024, a year-on-year increase of 30%. Among them, wet separators accounted for 17.3 billion square meters, while dry separators accounted for 5 billion square meters. In terms of new products, 5m separators have been widely applied in the field of power batteries. In terms of product lines, the market share of wet separators has increased. Compared to 2023, in 2024, the market share of wet separators accounted for approximately 78%, an increase of over 5 percentage points year-on-year. The market share of 5m base films exceeded 5%. In terms of prices, the price of wet separators decreased by over 30% from the beginning to the end of 2024, while the price of dry separators decreased by over 10%. Separator Shipments in China from 2022 to 2024 (in billion square meters) Data Source: GGII