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investments key as Europe set for fastest synthetic anode growth outside China","chinese-investments-key-as-europe-set-for-fastest-synthetic-anode-growth-outside-china","article/chinese-investments-key-as-europe-set-for-fastest-synthetic-anode-growth-outside-china",{"_uid":557,"date":558,"tags":559,"editor":572,"content":582,"excerpt":719,"featured":51,"reporter":720,"_editable":724,"component":725,"seo_title":553,"categories":726,"visibility":732,"author_company":49,"featured_image":733,"seo_description":719,"author_full_name":49,"author_job_title":49,"formattedDate":737,"formattedArticleDate":738},"494bf918-4140-4417-b87e-5c006bb783bf","2024-08-26 00:00",[560,563,566,569],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"europe","Europe",{"slug":567,"name":568},"shanshan","Shanshan",{"slug":570,"name":571},"synthetic-graphite","Synthetic graphite",[573],{"slug":574,"name":575,"content":576},"matthew-bird","Matthew Bird",{"job_title":577,"image":578,"bio":580,"linkedin":581},"Senior Editor - Supply Chains & Data Visualisation",{"filename":579},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":583,"content":584},"doc",[585,602,612,617,626,631,636,641,646,651,658,663,668,673,678,683,688,699,704,709,714],{"type":586,"attrs":587,"content":588},"paragraph",{"textAlign":49},[589,592,600],{"text":590,"type":591},"Europe is to become the fastest growing region for new synthetic anode active material production outside China, according to ","text",{"text":593,"type":591,"marks":594},"Benchmark’s Anode Forecast",[595],{"type":596,"attrs":597},"link",{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":599},"https://www.benchmarkminerals.com/forecasts/anode/reports/","url",{"text":601,"type":591},".",{"type":586,"attrs":603,"content":604},{"textAlign":49},[605,607,611],{"text":606,"type":591},"Between 2024 and 2030, Europe will account for 35% of the growth in ex-China synthetic anode production, ahead of 34% and 28% for Asia ex-China and North America respectively, according to ",{"text":593,"type":591,"marks":608},[609],{"type":596,"attrs":610},{"href":598,"uuid":49,"anchor":49,"target":49,"linktype":599},{"text":601,"type":591},{"type":586,"attrs":613,"content":614},{"textAlign":49},[615],{"text":616,"type":591},"Europe’s lead rests heavily on recent investments from Chinese players Shanshan and Putailai, which together own 58% of the region’s total synthetic anode active material pipeline capacity, according to Benchmark data.",{"type":586,"attrs":618,"content":619},{"textAlign":49},[620],{"type":621,"attrs":622},"image",{"id":49,"alt":623,"src":624,"title":49,"source":49,"copyright":49,"meta_data":625},"","https://a.storyblok.com/f/287943243085208/e33945c927/bm-screenshot-2024-08-30-072008.png",{},{"type":586,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":591},"“When we talk about announced synthetic anode capacity in Europe, this has been spearheaded by Chinese players,” said Tony Alderson, senior analyst at Benchmark. ",{"type":586,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":591},"Shanshan’s Finnish asset is due to go online in 2027 while Putailai’s Swedish facility is scheduled to begin construction in 2024. If all permits are secured, the latter is expected to start producing anode material for Northvolt by 2025-2026. ",{"type":586,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":591},"Both investments were announced in 2023 and are the largest synthetic anode material projects in Europe.",{"type":586,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":591},"“Without the two major Chinese investments of the past year from Shanshan and Putailai, Europe would lag North America in 2030 synthetic anode active material production,” said Alderson.",{"type":586,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":591},"Europe has been the region of choice for Chinese expansion as it offers a growing market with a more welcoming regulatory environment than the US.",{"type":652,"attrs":653,"content":655},"heading",{"level":654,"textAlign":49},4,[656],{"text":657,"type":591},"European policy draws big Chinese players",{"type":586,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":591},"Europe has managed to draw Chinese players by setting domestic battery material production targets and showing more political openness to Chinese investment than the US. ",{"type":586,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":591},"The 2022 Critical Raw Materials Act, the EU’s flagship battery buildout legislation, should stimulate European demand for locally produced battery goods, offering a lucrative new market for Chinese anode producers facing severe overcapacity, competition, and surpluses back home.",{"type":586,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":591},"Asia ex-China on the other hand lacks similar incentives to boost anode active material pipeline investments. ",{"type":586,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":591},"“India spearheads Asian growth with South Korea and Japan only accounting for a quarter of ex-China supply growth collectively, reflecting the relatively modest government support for the chemistry in those countries,” said Alderson.",{"type":652,"attrs":679,"content":680},{"level":654,"textAlign":49},[681],{"text":682,"type":591},"Chinese firms come with cost-cutting strategies",{"type":586,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":591},"Despite offering a favourable policy environment, high labour and energy costs are a downside to operating in Europe. ",{"type":586,"attrs":689,"content":690},{"textAlign":49},[691,697],{"text":692,"type":591,"marks":693},"Benchmark’s Anode Cost Model",[694],{"type":596,"attrs":695},{"href":696,"uuid":49,"anchor":49,"target":49,"linktype":599},"https://www.benchmarkminerals.com/anode/data-reports/forecast/",{"text":698,"type":591}," estimates that the average cost for making one kilogram of synthetic anode material from pet coke feedstock would be $8.70 compared to $4.58 in China. ",{"type":586,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":591},"Moreover, Europe may have domestic production targets but lacks significant trade tariffs or subsidies to support battery materials producers.",{"type":586,"attrs":705,"content":706},{"textAlign":49},[707],{"text":708,"type":591},"Europe’s lack of competitiveness should make investments from Chinese players all the more crucial. ",{"type":586,"attrs":710,"content":711},{"textAlign":49},[712],{"text":713,"type":591},"Chinese players that have invested in European plants are reportedly planning to conduct graphitisation in China, shipping the material back to Europe so that the coating process happens in Finland and Sweden.",{"type":586,"attrs":715,"content":716},{"textAlign":49},[717],{"text":718,"type":591},"This strategy is aimed at reducing production costs while also ensuring the material is eligible under the Foreign Entity of Concern rule in the US Inflation Reduction Act. (IRA).","Europe is to become the fastest growing region for new synthetic anode active material production outside China, according to Benchmark’s Anode Forecast. Between 2024 and 2030, Europe will account for 35% of the growth in ex-China synthetic anode production, ahead of 34% and 28% for Asia ex-China and North America respectively, according to Benchmark’s Anode […]",[721],{"slug":574,"name":575,"content":722},{"job_title":577,"image":723,"bio":580,"linkedin":581},{"filename":579},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"494bf918-4140-4417-b87e-5c006bb783bf\", \"id\": \"\"}-->","article",[727,729],{"slug":728,"name":263},"anode",{"slug":730,"name":731},"batteries","Batteries","private",{"id":49,"alt":623,"name":623,"focus":623,"title":623,"source":623,"filename":734,"copyright":623,"fieldtype":735,"meta_data":736,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/18f0529884/bm-battery-1313743039a7.jpeg","asset",{"alt":623,"title":623,"source":623,"copyright":623},"Aug 26, 2024","26th August 2024",[],[],1792773898028]