2025年添加剂VC市场盘点——全球产量6.9万吨

Core Viewpoint - The VC market is experiencing a significant turnaround in October 2025 after a period of stagnation, with a projected production of 69,000 tons and an overall operating rate of 86% [1][6]. Market Competition Landscape - The production of VC is concentrated among 10 Chinese companies, with Shandong Gengyuan holding a 25% market share, followed by Huasheng Lithium with 17%, Huayi at 11%, and Furui Energy at nearly full production with a 10% market share [3]. Price Dynamics - In October 2025, the VC market saw a rapid price increase, exceeding 200,000 yuan per ton, before stabilizing at around 160,000 yuan per ton due to strong price support from manufacturers [4]. Supply and Demand Balance - The VC market's operating rate is expected to reach 86% in 2025, with a slight decrease anticipated in 2026 as effective production capacity grows faster than demand. By 2027, the operating rate is projected to adjust slightly upwards to 79% as demand continues to rise [6]. Future Outlook - The VC market demand is expected to significantly increase in 2026, with production projected to reach 100,000 tons, representing a 45% growth [7]. Historical Context - The VC market experienced prolonged low prices over the past two to three years, with a minimum price of 43,000 yuan per ton, leading to widespread losses among manufacturers. During this period, only larger manufacturers maintained full production, while smaller firms were forced to cease operations [8].