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South Korea's export of battery cathode materials exceeded US $10 billion in 2022, which is higher than that of automotive lithium-ion batteries.

2025-01-14 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)11/24 Report--

January 13 news, according to foreign media reports, with the increasing demand for electric vehicles, the demand for batteries continues to increase, which also raises the demand for various raw materials for battery production, including cathode materials.

In terms of electric vehicle batteries, South Korea has LG New Energy, SK On and Samsung SDI, three major manufacturers, in terms of raw materials, they also have a number of powerful manufacturers, battery cathode materials is the case, exports have been considerable.

Foreign media quoted data released by the South Korean Customs Agency on Thursday as saying that South Korea's battery cathode material exports reached US $10.186 billion last year, more than double the US $4.42 billion in 2021.

According to foreign media reports, after a substantial increase, the export volume of Korean battery cathode materials last year also exceeded the export volume of lithium-ion batteries required for electric vehicles for the first time. The latter's exports last year were US $6.59 billion, up 14.4% year-on-year and up more than 10% year-on-year for four consecutive years.

As a key raw material for batteries, cathode materials account for more than 50% of battery costs, while exports of cathode materials for Korean batteries have increased significantly, which is related to Korean electric vehicle battery manufacturers investing heavily in foreign countries. Foreign media mentioned in the report that at present, many factories of Korean battery manufacturers overseas have been put into production, and the supply of battery cathode materials overseas is zero.

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