Core Insights - The report by EVTank and the Yiwei Economic Research Institute indicates that the global lithium-ion battery electrolyte shipment volume is expected to grow by 44.5% year-on-year, reaching 2.402 million tons by 2025, with China's shipment volume accounting for 2.235 million tons, increasing its global market share to 93.05% [1][3]. Industry Overview - The global electrolyte market size is projected to reach 56.42 billion yuan in 2025, reflecting a year-on-year growth of 37.6%, primarily driven by a significant increase in shipment volumes [6]. - The price of lithium hexafluorophosphate, a key raw material for electrolytes, has seen a substantial increase, rising from an average of 49,000 yuan per ton in July 2025 to 167,000 yuan per ton by December 2025 [6]. Company Performance - Tianqi Materials (002709) leads the market with a shipment volume of 720,000 tons, capturing a market share of 32.2%, maintaining its position as the global leader for ten consecutive years [3][5]. - Companies such as Shida Shenghua (603026), Yongtai Technology (002326), Kunlun New Materials, and Zhuhai Sawei have shown rapid growth, with each experiencing a shipment volume increase of over 70% year-on-year in 2025 [3]. - Among the top ten companies, Kunlun New Materials has moved up to fourth place, while Ruifeng New Materials (301238) and Fanelite have seen a noticeable decline in their shipment rankings [3]. Competitive Landscape - The competitive landscape among Chinese electrolyte companies is intensifying, with Tianqi Materials remaining significantly ahead, while BYD (002594) produces its own electrolytes [5]. - Independent electrolyte companies such as Kunlun New Materials and Zhuhai Sawei are gradually increasing their market shares, while Shida Shenghua and Yongtai Technology have experienced rapid development, challenging the positions of Ruifeng New Materials and Fanelite [5].