Global LiPF6 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global LiPF6 Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

LiPF6 (Lithium hexafluorophosphate) is an inorganic compound with the formula LiPF6. It is a white crystalline powder. LiPF6 is manufactured by reacting phosphorus pentachloride with hydrogen fluoride and lithium fluoride.

LiPF6 is a kind of lithium-ion battery electrolyte and an important component of lithium-ion battery electrolyte. Its main function is to ensure that the battery has sufficient lithium ions to realize the charge-discharge cycle during the charging and discharging process. Because its solubility, electrochemical stability, electrical conductivity, high and low temperature performance, cycle life and other performance indicators are relatively balanced, it has been widely used in commercial applications.

Market Overview:

The latest research study on the global LiPF6 market finds that the global LiPF6 market reached a value of USD 4270.63 million in 2022. It’s expected that the market will achieve USD 8501.97 million by 2028, exhibiting a CAGR of 12.16% during the forecast period.

Strength

LiPF6 is the most important component of the electrolyte cost, accounting for about 43% of the total electrolyte cost. LiPF6 is the most widely used electrolyte lithium salt due to its good ion conductivity, excellent oxidation stability and low environmental pollution. The production technology threshold of LiPF6 is relatively high, especially the production of high-purity crystal LiPF6. It can be said that as a cutting-edge material in the lithium battery industry, LiPF6 is worthy of the name of the soul of the electrolyte.

Threat

As a substitute for lithium hexafluorophosphate, the new lithium salt LiFSI is recognized by downstream customers and the volume is fast. The leading lithium salt companies are expected to seize more market share by virtue of technological leapfrogging and low cost advantages.
At the same time, power lithium batteries have comprehensive requirements for long life, low cost, and high performance. Especially in the pursuit of high cruising range, the proportion of ternary applications has increased. Compared with the large-scale use of lithium iron phosphate batteries in 2015~2016, downstream customers Suppliers of lithium hexafluorophosphate and electrolyte put forward more stringent product requirements. For example, head companies such as Tianci, Xinzhoubang, and Duofluoride have obvious advantages.

Region Overview:

In 2021, the share of the LiPF6 market in Asia stood at 81.1%.

Company Overview:

Guangzhou Tinci Materials
Guangzhou Tinci Materials Technology Company Limited develops, manufactures and sales fine chemicals and new materials. The Company’s main products include personal care materials, lithium-ion battery materials, and organic silicon rubber materials.

Do-Fluoride Chemicals

Do-Fluoride New Materials Co., Ltd. (Hereinafter called DFD) was established in December 1999. DFD is a new high-tech enterprise whose business scope mainly includes research and development, production and sale of the high-performance Inorganic fluoride salts, electronic grade chemicals, lithium ion battery materials, new energy automobiles. Besides, it is the first listed company in the inorganic fluoride chemical industry in China.

Segmentation Overview:

By type, HF Gas Solvent Process segment accounted for the largest share of market in 2021.

HF Gas Solvent Process

The HF gas solvent method is currently the most widely used method for preparing LiPF6. The HF gas solvent method is to dissolve lithium halide in anhydrous hydrogen fluoride, and then pass high-purity PF5 gas to react to generate potassium hexafluorophosphate crystals, which are separated and dried to obtain LiPF6 products.

Organic Solvent Process

The preparation process of the organic solvent method is similar to that of the HF gas solvent method. The difference in preparation is that the purity of the product prepared by the organic solvent is only 90%-95%, the product is easy to adsorb the organic solvent, and further removal is difficult and it is difficult to produce solid LiPF6.

Application Overview:

The market's largest segment by application is the segment Non-power Batteries, with a market share of 50.97% in 2021.

Key Companies in the global LiPF6 market covered in Chapter 3:

Hubei Hongyuan
Foosung
Stella Chemifa
Shida Shenghua
Jiangsu Jiujiujiu
Yongtai tech
Tianjin Jinniu
Do-Fluoride Chemicals
Morita Chemical
Honeywell
Jiangsu Xintai
Guangzhou Tinci Materials
Kanto Denka

In Chapter 4 and Chapter 14.2, on the basis of types, the LiPF6 market from 2018 to 2029 is primarily split into:

HF Gas Solvent Process
Organic Solvent Process

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the LiPF6 market from 2018 to 2029 covers:

Power Batteries
Non-power Batteries

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)