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West","in-charts-why-decoupling-from-chinas-anode-market-could-be-difficult-for-the-west","article/in-charts-why-decoupling-from-chinas-anode-market-could-be-difficult-for-the-west",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":802,"featured":51,"reporter":803,"_editable":807,"component":808,"seo_title":543,"categories":809,"visibility":818,"author_company":49,"data_vis_image":819,"featured_image":823,"seo_description":802,"author_full_name":49,"author_job_title":49,"formattedDate":826,"formattedArticleDate":827},"ef40f985-bac3-4e1b-ba26-ed868c808d17","2023-10-25 00:00",[550,553,556],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"data-visualisation","Data Visualisation",{"slug":557,"name":558},"export-restrictions","Export restrictions",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,589,602,607,612,619,640,649,652,657,662,670,675,680,693,701,706,719,732,737,745,750,755,768,773,781],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,579,587],{"text":577,"type":578},"Benchmark data shows that a ","text",{"text":580,"type":578,"marks":581},"severe lack of anode developments",[582],{"type":583,"attrs":584},"link",{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/europes-looming-battery-anode-shortage","url",{"text":588,"type":578}," outside of China will see global reliance on the country continue into the 2030s.",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592,594,600],{"text":593,"type":578},"China’s recent decision to ",{"text":595,"type":578,"marks":596},"restrict some exports of graphite products",[597],{"type":583,"attrs":598},{"href":599,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/china-graphite-export-restrictions-could-hinder-ex-china-anode-development",{"text":601,"type":578}," has put the anode supply chain under increased scrutiny.",{"type":573,"attrs":603,"content":604},{"textAlign":49},[605],{"text":606,"type":578},"In the near term, the restrictions could slow battery anode production in markets such as South Korea. However, if the restrictions continue into the long term it could accelerate the development of an ex-China supply chain.",{"type":573,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":578},"“This measure may have some short term impact on the ex-China graphite markets, but it remains a question how this will impact longer term,” Rob Burrell, an analyst at Benchmark, said. “An important thing to keep in mind is that China produces far more material than it needs domestically, so they will not want to shut themselves off completely.”",{"type":613,"attrs":614,"content":616},"heading",{"level":615,"textAlign":49},4,[617],{"text":618,"type":578},"China supplies the world",{"type":573,"attrs":620,"content":621},{"textAlign":49},[622,624,630,632,638],{"text":623,"type":578},"This year, ",{"text":625,"type":578,"marks":626},"Benchmark’s Anode Forecast",[627],{"type":583,"attrs":628},{"href":629,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/forecasts/anode/reports",{"text":631,"type":578}," shows that ",{"text":633,"type":578,"marks":634},"China will account for 92% of anode production",[635],{"type":583,"attrs":636},{"href":637,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/infographic-chinas-lithium-ion-battery-supply-chain-dominance",{"text":639,"type":578}," globally. This is forecast to drop over the rest of the decade but China is still expected to account for over 80% of anode production in 2030.",{"type":573,"attrs":641,"content":642},{"textAlign":49},[643],{"type":644,"attrs":645},"image",{"id":49,"alt":646,"src":647,"title":49,"source":49,"copyright":49,"meta_data":648},"China's anode dominance extends into 2030s","https://a.storyblok.com/f/287943243085208/87c470945e/bm-regional-anode-percentages-q3-2023-1307563c5514.png",{},{"type":573,"attrs":650,"content":651},{"textAlign":49},[],{"type":573,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":578},"China’s dominance means its anode production massively outstrips its domestic demand. The surplus of anode production in China is larger than the combined deficit of the rest of the world.",{"type":573,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":578},"However, even China’s global strength is forecast to be unable to meet the world’s ever-increasing demand for anode material, primarily driven by skyrocketing demand for electric vehicles. From 2028, China’s surplus will be less than the rest of the world’s deficit for the first time.",{"type":573,"attrs":663,"content":664},{"textAlign":49},[665],{"type":644,"attrs":666},{"id":49,"alt":667,"src":668,"title":49,"source":49,"copyright":49,"meta_data":669},"China is oversupplied with anode material","https://a.storyblok.com/f/287943243085208/76cabc3807/bm-anode-market-balance-q3-2023-1.png",{},{"type":573,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":578},"The grip China has on the anode supply chain is led by relatively few Tier 1 companies. Just four companies account for over half of the global anode supply chain and all are based in China.",{"type":573,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":578},"The leader is BTR New Energy with almost a fifth of the global market (including its joint ventures). Benchmark forecasts they will triple their production between 2023 and 2030 including new operations in Indonesia.",{"type":573,"attrs":681,"content":682},{"textAlign":49},[683,685,691],{"text":684,"type":578},"Shanshan and Putailai, the second and third largest anode producers, also have plans to develop anode production outside of China with plants in ",{"text":686,"type":578,"marks":687},"Finland",[688],{"type":583,"attrs":689},{"href":690,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/chinas-shanshan-to-build-e1-28-billion-synthetic-anode-plant-in-finland",{"text":692,"type":578}," and Sweden, respectively.",{"type":573,"attrs":694,"content":695},{"textAlign":49},[696],{"type":644,"attrs":697},{"id":49,"alt":698,"src":699,"title":49,"source":49,"copyright":49,"meta_data":700},"Just four companies account for over half of global anode production","https://a.storyblok.com/f/287943243085208/6f63fdc519/bm-chart-screenshot-51.png",{},{"type":573,"attrs":702,"content":703},{"textAlign":49},[704],{"text":705,"type":578},"Outside of China, Japan and South Korea are the strongest anode makers, producing 47% and 39% of ex-China anode supplies, respectively.",{"type":573,"attrs":707,"content":708},{"textAlign":49},[709,711,717],{"text":710,"type":578},"The largest non-Chinese company by tonnes of anode production in 2023 is ",{"text":712,"type":578,"marks":713},"Posco",[714],{"type":583,"attrs":715},{"href":716,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/posco-expands-lithium-ion-empire-with-silicon-anode-acquisition",{"text":718,"type":578},", based in South Korea. It accounts for 3% of global production.",{"type":573,"attrs":720,"content":721},{"textAlign":49},[722,724,730],{"text":723,"type":578},"In ",{"text":725,"type":578,"marks":726},"Japan",[727],{"type":583,"attrs":728},{"href":729,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/japans-role-in-developing-the-lithium-ion-battery-industry",{"text":731,"type":578},", Resonac and the Mitsubishi Chemical Corporation are the largest producers.",{"type":573,"attrs":733,"content":734},{"textAlign":49},[735],{"text":736,"type":578},"Outside of Asia, the US and Sweden are the next strongest countries, representing 8.6% of ex-China supply combined.",{"type":573,"attrs":738,"content":739},{"textAlign":49},[740],{"type":644,"attrs":741},{"id":49,"alt":742,"src":743,"title":49,"source":49,"copyright":49,"meta_data":744},"Japan and South Korea dominate ex-China anode production","https://a.storyblok.com/f/287943243085208/93aa67173c/bm-ex-china-anode-producers-q3-2023-2.png",{},{"type":613,"attrs":746,"content":747},{"level":615,"textAlign":49},[748],{"text":749,"type":578},"Chemistry matters",{"type":573,"attrs":751,"content":752},{"textAlign":49},[753],{"text":754,"type":578},"The strength of China’s dominance in anode production varies by chemistry.",{"type":573,"attrs":756,"content":757},{"textAlign":49},[758,760,766],{"text":759,"type":578},"For ",{"text":761,"type":578,"marks":762},"synthetic graphite anodes",[763],{"type":583,"attrs":764},{"href":765,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/article/chinas-anode-players-announce-3-9-billion-for-synthetic-graphite-projects",{"text":767,"type":578},", 98% of global production is forecast to occur in China this year. However for natural graphite anodes, this drops to 79%.",{"type":573,"attrs":769,"content":770},{"textAlign":49},[771],{"text":772,"type":578},"The majority of ex-China natural graphite anode production is in South Korea and Japan, but North America could match those countries by 2030 if its pipeline projects come online.",{"type":573,"attrs":774,"content":775},{"textAlign":49},[776],{"type":644,"attrs":777},{"id":49,"alt":778,"src":779,"title":49,"source":49,"copyright":49,"meta_data":780},"Synthetic anode production more stongly controlled by China than natural graphite anode production","https://a.storyblok.com/f/287943243085208/457fb1a4c6/bm-regional-synthetic-vs-natural-anode-q3-2023-1.png",{},{"type":573,"attrs":782,"content":783},{"textAlign":49},[784,786,792,794,800],{"text":785,"type":578},"However, despite ex-China’s slight strength in natural anode production compared to synthetic, it should be noted that the upstream is still dominated by China with 99% of spherical graphite, the precursor for natural graphite anodes, coming from the country in 2023 according to ",{"text":787,"type":578,"marks":788},"Benchmark’s Natural Graphite Forecast",[789],{"type":583,"attrs":790},{"href":791,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/forecasts/natural-graphite/reports",{"text":793,"type":578},". China is also set to produce 69% of synthetic graphite globally according to ",{"text":795,"type":578,"marks":796},"Benchmark’s Synthetic Graphite Forecast",[797],{"type":583,"attrs":798},{"href":799,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/forecasts/synthetic-graphite/reports",{"text":801,"type":578},".","Benchmark data shows that a severe lack of anode developments outside of China will see global reliance on the country continue into the 2030s. China’s recent decision to restrict some exports of graphite products has put the anode supply chain under increased scrutiny. In the near term, the restrictions could slow battery anode production in […]",[804],{"slug":561,"name":562,"content":805},{"job_title":564,"image":806,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"ef40f985-bac3-4e1b-ba26-ed868c808d17\", \"id\": \"\"}-->","article",[810,812,815],{"slug":811,"name":261},"anode",{"slug":813,"name":814},"batteries","Batteries",{"slug":816,"name":817},"geopolitics","Geopolitics","private",{"id":49,"alt":646,"name":820,"focus":820,"title":646,"source":820,"filename":647,"copyright":820,"fieldtype":821,"meta_data":822,"is_external_url":51},"","asset",{"alt":646,"title":646,"source":820,"copyright":820},{"id":49,"alt":820,"name":820,"focus":820,"title":820,"source":820,"filename":824,"copyright":820,"fieldtype":821,"meta_data":825,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/1093d2c339/bm-btr-anode.jpg",{"alt":820,"title":820,"source":820,"copyright":820},"Oct 25, 2023","25th October 2023",[],[],1785165555476]