The market demand for electrolyte solvents continues to grow, and there is huge room for industry development in the future.

The electrolyte solvent is the electrolyte material and plays an important role in the performance of the lithium-ion battery. The electrolyte solvent accounts for 80.0-85.0% of the mass of the electrolyte and 30.0% of the cost. It is an important component of the electrolyte. Electrolyte solvents are rich in raw materials, and production methods include ethylene oxide (EO) transesterification, propylene oxide (PO) transesterification, etc.

According to the “2022-2027 Global Electrolyte Solvent Industry In-depth Market Research and Key Area Research Report released by the Industrial Research Center, With the rapid development of the new energy automobile industry, the demand for power batteries is strong. As the medium used in power batteries, electrolyte can perform electrochemical reactions and conduct electricity. It is an important component of power batteries, and shipments continue to grow. In 2021, my country’s lithium-ion battery electrolyte market shipments reached 512,000 tons, a year-on-year increase of 89.6%. As one of the three major materials for electrolytes, electrolyte solvents are positively correlated with market demand and electrolyte shipments. In 2021, my country’s electrolyte solvent market demand will reach 275,000 tons, a year-on-year increase of 34.6%.

Electrolyte solvents are mostly carbonate solvents as the main product. According to different structures, carbonate solvents can be divided into two categories: cyclic carbonate and chain carbonate. Cyclic carbonates include propylene carbonate (PC) and ethylene carbonate (EC); chain carbonates include diethyl carbonate (DEC), dimethyl carbonate (DMC), and ethyl methyl carbonate (EMC). At present, a single electrolyte solvent cannot meet the demand for electrolyte, and the above five carbonate solvent mixture systems are commonly used electrolyte solvents.

Dimethyl carbonate (DMC) is widely used and has a high market penetration rate. Dimethyl carbonate is composed of ethylene oxide, propylene oxide, and hydroxymethane, and is a safe and environmentally friendly organic solvent. As the demand for electrolytes continues to grow, my country’s dimethyl carbonate production capacity continues to increase. In 2021, my country’s dimethyl carbonate production capacity will reach 1.267 million tons, a year-on-year increase of 36.2% in 2020. At present, my country’s dimethyl carbonate market supply and demand are balanced, and the overall price tends to be stable, laying a good foundation for the development of the electrolyte solvent industry.

my country’s electrolyte solvent production enterprises are concentrated in Shandong. Shandong is rich in natural resources, has convenient transportation and numerous ports, and is a major province in my country’s chemical industry. Shandong electrolyte solvent manufacturers include Hualu Hengsheng, Shi Dashenghua, Haike Xinyuan, Depu Chemical, etc. Currently, Shi Dasheng Huawei is my country’s leading electrolyte solvent company, occupying nearly 30.0% of the market share.

Industry analysts said that benefiting from the increasing prosperity of the new energy vehicle industry, electrolyte shipments continued to grow, driving electrolyte The solvent market demand is growing day by day. The carbonate solvent mixing system occupies the dominant position in the electrolyte solvent market. As a subdivided product of electrolyte solvent, dimethyl carbonate’s production capacity continues to increase, which has a positive impact on the development of my country’s electrolyte solvent industry. The geographical advantage has driven the rapid development of my country’s leading electrolyte solvent companies, and the industry concentration continues to increase.