Xin Lang Cai Jing·2025-11-18 06:47Core Viewpoint - Sinopec and LG Chem have signed an agreement to jointly develop key materials for sodium-ion batteries, targeting the energy storage systems and low-speed electric vehicle markets in China and globally, aiming to accelerate commercialization and expand into new energy and high-value materials sectors [1] Industry Overview - Sodium-ion batteries offer advantages over lithium-ion batteries in terms of resources, cost, safety, and charging speed, with better performance in low-temperature environments compared to lithium iron phosphate batteries [3] - The sodium-ion battery market in China is projected to grow from 10 GWh in 2025 to 292 GWh by 2034, with an average annual growth rate of approximately 45% [6] - Major companies involved in sodium-ion battery production include CATL, BYD, and others, with significant developments in battery technology and applications [4][6] Key Materials and Technologies - The main cathode materials for sodium-ion batteries include layered oxides, polyanionic compounds, and Prussian blue, each with distinct characteristics and commercialization speeds [3] - Hard carbon is the mainstream choice for anode materials due to its high sodium storage capacity and excellent cycling stability [3] - The electrolyte composition is similar to lithium-ion batteries, primarily using sodium hexafluorophosphate, with key players including Tianqi Materials and others [4] Market Developments - The first large-capacity sodium-ion battery energy storage station in China has commenced operations, showcasing the technology's application potential [6] - CATL's "Sodium New Battery" brand has achieved an energy density of 175 Wh/kg, comparable to lithium iron phosphate batteries, with a cycle life exceeding 10,000 cycles [6] - Wanhua Chemical has entered the sodium-ion battery sector, developing high-capacity cathode materials and establishing strategic partnerships for further advancements [5] Challenges and Future Outlook - The commercialization of sodium-ion batteries is at a critical juncture, with technological advancements, cost control, and policy support being key factors for success [7] - Despite the theoretical cost advantage of sodium-ion batteries being around 20% lower than lithium-ion batteries, current prices exceed 0.5 yuan/Wh, with expectations to drop to 0.3 yuan/Wh upon achieving scale [8]