China: Lithium Battery Market 2024

Lithium Battery Market Size in China

For the fourth year in a row, the Chinese lithium battery market recorded decline in sales value, which decreased by -40.3% to $X in 2021. Over the period under review, consumption faced a deep setback. Lithium battery consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Lithium Battery Production in China

In value terms, lithium battery production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced curtailment. Lithium battery production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Lithium Battery Exports

Exports from China

For the fourth consecutive year, China recorded growth in shipments abroad of lithium cells ans batteries, which increased by 79% to X tons in 2021. Overall, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lithium battery exports surged to $X in 2021. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by 63% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main destinations of lithium battery exports from China, with a combined 40% share of total exports. These countries were followed by Germany, Vietnam, Belgium, Poland, India, South Korea, Italy, the UK, the Netherlands and Turkey, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +175.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lithium battery exported from China were Hong Kong SAR ($X), the United States ($X) and Germany ($X), together accounting for 44% of total exports. Belgium, Vietnam, South Korea, Italy, India, Poland, the UK, Turkey, the Netherlands and the United Arab Emirates lagged somewhat behind, together comprising a further 28%.

Among the main countries of destination, Vietnam, with a CAGR of +133.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lithium battery export price amounted to $X per ton, reducing by -29.5% against the previous year. In general, the export price continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2015 when the average export price increased by 15%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-0.2%), while the prices for the other major destinations experienced a decline.

Lithium Battery Imports

Imports into China

In 2021, lithium battery imports into China skyrocketed to X tons, with an increase of 31% against the previous year. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 33% against the previous year. Imports peaked at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, lithium battery imports soared to $X in 2021. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons), Japan (X tons) and Singapore (X tons) were the main suppliers of lithium battery imports to China, together accounting for 87% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +24.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Japan ($X) and Singapore ($X) constituted the largest lithium battery suppliers to China, together accounting for 84% of total imports.

Among the main suppliers, Singapore, with a CAGR of +16.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lithium battery import price stood at $X per ton in 2021, reducing by -5.5% against the previous year. Over the period under review, the import price showed a perceptible contraction. The growth pace was the most rapid in 2020 an increase of 8.6% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform