In LIB 4 key materials, performance of LIB separator decides interfacial structure and internal resistance of battery etc., directly influences volume, cycling and safety performance etc. characteristics of battery. Recently, with rapid increase of LIB market capacity, domestic enterprises layout LIB separator industry one after another. Domestic separator continues rising, localization rate continues increasing. ASIACHEM ‘China LIB Separator Annual Report 2017’ data shows that, in 2016, China LIB separator consumption volume was about 1.372bnm2, year on year increase 40%; among, domestic made separator 1.084bnm2, imported separator 288Mnm2.
Greatly expanding of output and market fierce competition make separator selling price continues decreasing. Take Cangzhou Mingzhu and Shenzhen Senior as examples, Cangzhou Mingzhu 2016 Annual Report shows that, in 2016, the company separator selling volume was 1436.21t, year on year increase 141.29%. ASIACHEM calculates that, in 2016, the company separator selling price was CNY 262.82/kg, year on year decrease about 10%. Shenzhen Senior 2016 Annual Report shows that, in 2016, the company separator sales volume was 138.68Mnm2, year on year increase 38.44%. ASIACHEM calculates that, in 2016, the company separator selling price was CNY 3.65/m2, year on year decrease about 14%.
ASIACHEM believes that, as leading separator enterprises to separator quality control’s persistent pursuit and to client requirement’s deep understanding, which makes these enterprises can realize quality goods’ stable supply, so that these enterprises market share increase. Although separator selling price decreases, these enterprises can still ensure high gross rate. Still take Cangzhou Mingzhu and Shenzhen Senior as examples, their 2016 gross rates all exceed 60%.
ASIACHEM ‘China LIB Separator Annual Report 2017’ data shows that, in 2017, China LIB output will reach 79.3GWh, corresponding LIB separator demands is about 1.586bnm2. In recent years, China LIB separator industry large-scale constructs new production lines. According to ASIACHEM database, in 2019, China LIB separator capacity will reach 6.4bnm2/a.
Except domestic enterprises, foreign large scale LIB separator enterprises are also actively expanding their capacities. In Mar, 2017, Asahi Kasei announced that, the company will invest JPY 15bn, plans to construct 200Mnm2/a Hipore wet process LIB separator in Moriyama, Shiga, Japan. Upon completion of the new production line, Asahi Kasei’s total LIB separator capacity will increase to 8.6Mm2/a, with wet process capacity being 6.1Mm2/a and dry process capacity rising to 2.5Mm2/a. Besides, proactively expanding the LIB separator business as a strategic area of growth, Asahi Kasei plans to raise its total LIB separator capacity to 1.1bn/a by 2020.
As huge market opportunities brought by LIB separator, especially separator products suit for power LIB, in recent years, there are many listed companies purchasing share of LIB separator enterprises. ASIACHEM ‘China LIB Separator Annual Report 2017’ data shows that, since Aug 2016, there are 9 acquisition activities in the industry.
It can be seen that, 5 of 9 acquisition affairs do not finish at last. Besides, even those accomplished acquisition exist some disputes.
For example, in May 2017, as Suzhou Jieli did not accomplish net profit target, Victory Precision required Peng Liqun (GM of Suzhou Jieli) to pay CNY 148M performance compensation before May 31, 2017. In the same month, Peng Liqun made announcement to Victory Precision on cancelling ‘Equity Transfer Agreement’. Currently, the affair has been accepted by Suzhou Arbitration Commission and does not hold hearings.
To LIB separator future development trend, ASIACHEM ‘China LIB Separator Annual Report 2017’ comes up with views as below.
1) In the next 5 years, polyolefin route separator will continue occupying mainstream. And in new increase capacity, wet process LIB separator will occupy main market.
2) Under new energy vehicle subsidies’ decreasing and vehicle used power battery cost’s dual pressures, enterprises need to continue investing on technology R&D, persistent pursuit on separator quality control and deep understanding on clients’ requirement, so that they can make themselves show up in fierce market competition.
3) Even those enterprises which have capital advantage and technical precipitation, it may not smooth to develop LIB separator project. Besides, LIB enterprises should set up closer cooperation relationship with battery enterprises.
