Applications of Ferric Phosphate
Ferric phosphate has a wide range of applications, primarily in the following areas:
1. Nutritional Supplement:
Ferric phosphate serves as an excellent iron nutritional supplement. It is widely used in egg-based products, rice-based products, and pastes. It is also used in bread and animal feed as an iron fortifier.
2. Battery Material:
Ferric phosphate is a key raw material for lithium iron phosphate (LFP) batteries. These batteries are highly popular in the fields of power batteries and energy storage due to their low cost, environmental friendliness, excellent cycle performance, outstanding thermal stability, and safety characteristics.
3. Catalysts and Ceramic Manufacturing:
Ferric phosphate can also be used in the production of catalysts and ceramics.
Market Demand for Ferric Phosphate
The market demand for ferric phosphate is influenced by several factors. Below is a detailed analysis:
1. Growth Driven by the New Energy Vehicle Industry:
With the rapid growth in the production and sales of new energy vehicles, the demand for ferric phosphate batteries is increasing. As ferric phosphate is a primary raw material for lithium iron phosphate batteries, its market demand is also rising.
Under the strong promotion of the national "dual carbon" policy, the transition from traditional fuel vehicles to new energy vehicles is accelerating, further driving the growth in demand for ferric phosphate.
2. Production Capacity and Utilization Rates:
In recent years, the production capacity of ferric phosphate in China has been steadily increasing.
However, overall capacity utilization remains low, and there is an issue of overcapacity. Despite this, due to the continuous expansion of the new energy vehicle market and advancements in lithium iron phosphate battery technology, the demand for ferric phosphate is expected to maintain a growth trend.
For example, according to forecasts by the China Business Industry Research Institute, the shipment volume of ferric phosphate is expected to reach 1.918 million tons in 2024, while lithium iron phosphate shipments will reach 2 million tons. At the same time, production capacity will continue to grow, with projections of 7.778 million tons in 2024 and 13.199 million tons in 2026.
3. Market Competition Landscape:
Currently, the ferric phosphate market in China is highly competitive, dominated by small- and medium-sized enterprises. However, leading materials companies maintain a solid position in the market.
As large chemical enterprises gradually launch ferric phosphate and lithium iron phosphate projects, their cost advantages are likely to capture a share of the existing market. The competitive landscape of the ferric phosphate and lithium iron phosphate industries is expected to undergo significant changes in the future.
Ferric phosphate has broad applications in nutritional supplements, battery materials, and the production of catalysts and ceramics. With the rapid development of the new energy vehicle industry and continuous advancements in ferric phosphate battery technology, the market demand for ferric phosphate will continue to grow. However, market competition is becoming increasingly fierce, and enterprises must continuously improve product quality and technological innovation to meet market demands.
