磷酸铁锂“增产不增收”困局如何破？这场研讨会直指成本核心

Core Insights - Lithium iron phosphate (LFP) has become a mainstream technology for power and energy storage batteries due to its high safety, long cycle life, and cost advantages. However, since 2022, the LFP industry has entered a "production increase without revenue increase" cycle, leading to intensified competition within the industry [1][3]. Industry Overview - The lithium battery industry in China is experiencing strong growth, with lithium-ion battery exports reaching $55.38 billion from January to September 2025, a year-on-year increase of 26.75%. The penetration rate of domestic new energy vehicles has surpassed 45%, and energy storage installations have surged by 60% year-on-year, with the entire industry expected to exceed a market value of 3 trillion yuan [3]. - LFP materials account for nearly 74% of the cathode material shipments, providing a solid foundation for the electrification of transportation and the green transition of energy [3]. Market Challenges - Structural contradictions in the rapid development of the LFP industry are becoming increasingly prominent. From the end of 2022 to August 2025, the price of LFP materials plummeted from 173,000 yuan/ton to 34,000 yuan/ton, a decline of 80.2%. The industry has faced continuous losses for over 36 months, with an average asset-liability ratio of 67.81% among six listed companies [3]. - The soaring prices of upstream raw materials have not effectively transmitted to LFP companies. Downstream cell manufacturers often exert strong pressure on LFP companies to meet order demands, leading many firms to produce at a loss [3]. Competitive Landscape - The influx of numerous new entrants into the LFP industry is disrupting the existing market structure. Some new companies, lacking core technologies, can only produce relatively low-end products, further intensifying competition and leading to ongoing price wars [4]. Proposed Solutions - The industry association has proposed three collaborative action initiatives to address these challenges: 1. Rebuild market pricing logic using a cost index as a measurement tool, creating a comprehensive cost accounting system covering all aspects of the supply chain to provide transparent value references and curb malicious competition [4]. 2. Promote innovation and upgrades as a breakthrough, encouraging the industry to shift from scale competition to quality competition [4]. 3. Focus on supply-demand balance by establishing a capacity warning mechanism and fostering long-term strategic cooperation between material companies and downstream leaders to guide orderly capacity release [4]. Cost Structure Analysis - The cost structure of LFP materials shows that the main material accounts for the highest proportion, with material costs comprising 35%-40%, energy consumption and direct costs each around 19%, and other expenses at 16%. Auxiliary material costs are only 5%-6%. This cost index provides transparent value references for companies and precise data support for government regulation, enhancing market transparency and aiding decision-making for upstream and downstream enterprises [5][7].