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to expect for the cathode and anode markets this year?","what-to-expect-for-the-cathode-and-anode-markets-this-year","article/what-to-expect-for-the-cathode-and-anode-markets-this-year",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":660,"featured":51,"reporter":661,"_editable":665,"component":666,"seo_title":553,"categories":667,"visibility":675,"author_company":676,"featured_image":677,"seo_description":660,"author_full_name":682,"author_job_title":683,"formattedDate":684,"formattedArticleDate":685},"5a6e031b-707d-428e-8488-683a53058980","2023-01-25 00:00",[],[561],{"slug":562,"name":563,"content":564},"didi-bostock","Didi Bostock",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Editor - Energy Transition & Economics",{"filename":567},"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":571,"content":572},"doc",[573,580,585,590,595,600,605,610,615,620,627,632,637,642,647,652,657],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577],{"text":578,"type":579},"Anode production remained overwhelmingly concentrated in China last year, but 2023 promises to usher in a new wave of ex-China project developments. ","text",{"type":574,"attrs":581,"content":582},{"textAlign":49},[583],{"text":584,"type":579},"In the US the Inflation Reduction Act is stimulating the development of new anode projects, as the country looks to reduce reliance on Chinese production. ",{"type":574,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":579},"The planned EU Critical Raw Materials Act is also likely to lead to a raft of investment into the European battery value chain from both domestic and overseas investors. ",{"type":574,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":579},"It is estimated that natural anodes will dominate European supply and demand over time as they typically have a lower carbon footprint of production. ",{"type":574,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":579},"However, these production volumes will likely be supplemented by lower-emission synthetic anode projects powered by renewable energy sources. ",{"type":574,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":579},"Nevertheless, Europe is currently facing the same issue as North America, in that neither region has any top-tier domestic supply, which may pose a threat to rapidly rising electric vehicle demand.",{"type":574,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":579},"As OEMs become increasingly concerned about meeting their ESG requirements, attention will be shifted towards natural anodes with a lower carbon production footprint. ",{"type":574,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":579},"Yet the supply deficit for natural anodes is expected to extend into 2023.",{"type":574,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":579},"Far more investment is needed in both natural anode and renewable-powered synthetic process routes if environmental targets are to be satisfied.",{"type":621,"attrs":622,"content":624},"heading",{"level":623,"textAlign":49},4,[625],{"text":626,"type":579},"The rise of LMFP – Cathode preview ",{"type":574,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":579},"Lithium iron manganese phosphate (LMFP) cathodes are expected to grab the headlines this year. ",{"type":574,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":579},"An increase in real-world production volumes and continued announcements from large producers of lithium iron phosphate (LFP) cathodes will propel this promising chemistry into more mainstream applications. ",{"type":574,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":579},"LMFP is estimated to increase energy density by 10-20% over LFP with just a 5-20% increase in production costs, resulting in favourable $/kWh values. ",{"type":574,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":579},"We expect LMFP cathodes to start making their way into EVs later this year, with the most established LFP producers catering for this market initially. ",{"type":574,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":579},"There is still a level of ambiguity surrounding LMFP production volumes as some producers finalise technical adjustments to allow LFP production lines to be converted to LMFP production lines. ",{"type":574,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":579},"In addition new and dedicated LMFP lines are being added from new and existing producers. Combined, this will lead to higher and more promising supply from Tier One, Two and Three producers.",{"type":574,"attrs":658,"content":659},{"textAlign":49},[],"Anode production remained overwhelmingly concentrated in China last year, but 2023 promises to usher in a new wave of ex-China project developments. In the US the Inflation Reduction Act is stimulating the development of new anode projects, as the country looks to reduce reliance on Chinese production. The planned EU Critical Raw Materials Act is […]",[662],{"slug":562,"name":563,"content":663},{"job_title":565,"image":664,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"5a6e031b-707d-428e-8488-683a53058980\", \"id\": \"\"}-->","article",[668,670,673],{"slug":669,"name":263},"anode",{"slug":671,"name":672},"batteries","Batteries",{"slug":674,"name":299},"cathode","private","Benchmark",{"id":49,"alt":678,"name":678,"focus":678,"title":678,"source":678,"filename":679,"copyright":678,"fieldtype":680,"meta_data":681,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/b3e65efb38/bm-battery-anode-picture.jpg","asset",{"alt":678,"title":678,"source":678,"copyright":678},"Rob Burrell","Analyst","Jan 25, 2023","25th January 2023",[],[],1792773920118]