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in China moves investment overseas: The anode market in 2024","oversupply-in-china-moves-investment-overseas-the-anode-market-in-2024","article/oversupply-in-china-moves-investment-overseas-the-anode-market-in-2024",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":647,"featured":51,"reporter":648,"_editable":652,"component":653,"seo_title":553,"categories":654,"visibility":660,"author_company":49,"data_vis_image":661,"featured_image":664,"seo_description":647,"author_full_name":49,"author_job_title":49,"formattedDate":667,"formattedArticleDate":668},"37882748-8ab4-4717-ab17-5d0d185f7c0f","2025-01-07 00:00",[560,563],{"slug":561,"name":562},"china","China",{"slug":564,"name":565},"data-visualisation","Data Visualisation",[567],{"slug":568,"name":569,"content":570},"matthew-bird","Matthew Bird",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Senior Editor - Supply Chains & Data Visualisation",{"filename":573},"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":577,"content":578},"doc",[579,586,591,596,601,608,613,618,623,632,637,642],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"China’s dominance of global anode production continued to define the market in 2024. ","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":585},"Domestic overcapacity led Chinese active anode material (AAM) players to seek expansion abroad.",{"type":580,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":585},"Outside of China, the market saw a host of offtake deals, particularly focussed within the US, as the nation seeks to derisk its supply chain from China.",{"type":580,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":585},"“In 2024, oversupply was a dominant theme, leading to frequent delays, cancellations, and market exits as players grappled with financial pressures. This trend is expected to persist, with the market anticipated to remain in surplus well beyond 2030,” said Tony Alderson, senior analyst at Benchmark.",{"type":602,"attrs":603,"content":605},"heading",{"level":604,"textAlign":49},4,[606],{"text":607,"type":585},"Oversupply in China’s domestic market",{"type":580,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":585},"AAM demand is expected to rise more than fourfold over the next decade driven predominantly by the electric vehicle (EV) market. Despite this, the market is expected to remain in surplus beyond 2030, making delays, cancellations, and market exits likely to continue.",{"type":580,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":585},"Though markets such as North America are a significant source of demand, supply chain localisation policies such as tariffs and export restrictions mean the excess supply in China cannot simply cater overseas markets without relevant approval processes.",{"type":580,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":585},"North America has made significant investments in building out domestic AAM supply and signing offtakes with ex-China players. However, domestic production combined with US Free Trade Agreement partner supply is insufficient to meet the burgeoning demand from the region.",{"type":580,"attrs":624,"content":625},{"textAlign":49},[626],{"type":627,"attrs":628},"image",{"id":49,"alt":629,"src":630,"title":49,"source":49,"copyright":49,"meta_data":631},"","https://a.storyblok.com/f/287943243085208/8fde095102/bm-nat-and-syn-graphite-v20-1.png",{},{"type":602,"attrs":633,"content":634},{"level":604,"textAlign":49},[635],{"text":636,"type":585},"Chinese companies expanding overseas",{"type":580,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":585},"Many of the top AAM players in China have responded to the significant surplus in the domestic market by expanding overseas. By investing in overseas capacity, these companies are able to establish facilities in regions currently experiencing deficits of AAM and that are forecast to widen in the future.",{"type":580,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":585},"These companies have targeted regions that would allow their material to qualify for the US Inflation Reduction Act (IRA) tax credits, either by building in countries that have free trade agreements with the US like Canada, Morocco, and South Korea, or by investing in the US itself as in the case of Gotion and Graphex.","China’s dominance of global anode production continued to define the market in 2024. Domestic overcapacity led Chinese active anode material (AAM) players to seek expansion abroad. Outside of China, the market saw a host of offtake deals, particularly focussed within the US, as the nation seeks to derisk its supply chain from China. “In 2024, […]",[649],{"slug":568,"name":569,"content":650},{"job_title":571,"image":651,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"37882748-8ab4-4717-ab17-5d0d185f7c0f\", \"id\": \"\"}-->","article",[655,657],{"slug":656,"name":265},"anode",{"slug":658,"name":659},"batteries","Batteries","private",{"id":49,"alt":629,"name":629,"focus":629,"title":629,"source":629,"filename":630,"copyright":629,"fieldtype":662,"meta_data":663,"is_external_url":51},"asset",{"alt":629,"title":629,"source":629,"copyright":629},{"id":49,"alt":629,"name":629,"focus":629,"title":629,"source":629,"filename":665,"copyright":629,"fieldtype":662,"meta_data":666,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/33ab12e6cc/bm-anode-picture-from-tony.jpg",{"alt":629,"title":629,"source":629,"copyright":629},"Jan 07, 2025","7th January 2025",[],[],1789982569912]