2025年，全球磷酸铁锂开启新一轮扩产潮

Core Viewpoint - Phosphate iron lithium batteries are solidifying their core position in the power battery and energy storage sectors due to high safety, low cost, and long cycle life [1] Group 1: Power Battery Market - In the first half of 2025, China's cumulative power battery installation reached 299.6 GWh, a year-on-year increase of 47.3% [2] - Among this, phosphate iron lithium batteries accounted for 244.0 GWh, representing 81.4% of the total installation, with a year-on-year growth of 73.0% [2] Group 2: Energy Storage Market - Global energy storage battery production in the first half of 2025 reached 258 GWh, a year-on-year increase of 106%, with phosphate iron lithium materials accounting for over 95% [2] Group 3: Expansion Trends - Despite current losses, many companies are not deterred and are initiating a new wave of global expansion in phosphate iron lithium production in 2025 to meet surging terminal demand [2] - Over 1.5 million tons of phosphate iron lithium materials are expected to be built and put into production by the end of 2026 [2][6] Group 4: Characteristics of Current Expansion - The current expansion wave features significant overseas factory construction [3] - New entrants have emerged alongside a few dominant players, indicating a shift in market dynamics [3] - The focus is not only on new phosphate iron lithium production lines but also on upstream resource support [3] - Lesser-known processes like oxalic iron and red iron are becoming key players in the expansion [3] - Companies are prioritizing securing future order volumes with clients before committing to expansion [4]