Lithium Phosphate Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Lithium Phosphate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Lithium Phosphate Price Trend for the Q1 of 2024
Asia
The first quarter proved to be a challenging one for the lithium phosphate market as its primary driver exerted a negative influence on its price trend. Throughout the quarter, the downstream battery sector bore a bearish tone as consumer confidence in the sector fluctuated, and the market experienced a sliding number of new inquiries. In view of sluggish market sentiments, the inventories rose beyond the expectations of the trader, due to which they had to resort to destocking measures.
Lithium Phosphate Price Chart
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This destocking activity was observed evidently in the Chinese, South Korean, and Japanese markets. Another factor that supported this downtrend in the prices of lithium phosphate was the fall in upstream raw material prices. Along with this, the loss of export volumes due to the diversion of the Red Sea route and increased transport expenses further increased the hesitation of the end-user industries.
Europe
The European countries noted the deacceleration in the momentum of the lithium phosphate market during the Q1 of 2024. The lithium-ion battery market registered a weak demand, and the oversupply of the commodity led to the fall of lithium phosphate prices. This cautious stance of the consumer sector was the direct reflection of increasing economic tensions and excessive inflationary pressure.
As the quarter progressed, the profit margins of the manufacturing sector shrank by a significant margin. Eventually, production also slowed, but it had little to no effect on the inventory levels. The market was further challenged by the limited trading activity with the Asian countries amid the rising uproar at the Red Sea region and increasing instances of Houthi attacks on US-UK shipments.
North America
In the first quarter of 2024, the US lithium phosphate market experienced a continued downturn due to ongoing weak demand and an oversupplied market. Increased manufacturing activities in North America exacerbated an already high inventory situation as efforts to mine, extract, and refine lithium intensified, heightening concerns within the trading sector. However, towards the end of the quarter, lithium phosphate prices began to stabilize, buoyed by a rise in trading activities and the opening of new export routes.
Exxon Mobil Corp also launched plans to produce battery-grade lithium phosphate through a new direct lithium extraction project in Arkansas, aiming to lessen the market's dependence on overseas imports. The energy storage sector's rapid advancements further supported lithium phosphate prices. Despite challenges such as higher interest rates affecting capital costs, the stabilization of lithium phosphate prices towards the end of the quarter reflected a positive outlook for traders.
Analyst Insight
According to Procurement Resource, the price trend of Lithium Phosphate is estimated to be driven by the limited availability of raw materials and slow and gradual improvement in the sales figures of the downstream industries.
Procurement Resource provides latest prices of Lithium Phosphate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Lithium phosphate is a white, crystalline, inorganic compound known for its stability and low solubility in water. It plays a critical role in the battery industry, particularly in the production of lithium iron phosphate cathodes for lithium-ion batteries, which are favored for their high energy density, long cycle life, and safety. Additionally, lithium phosphate is used in specialty glass and ceramics manufacturing, providing enhanced thermal and chemical stability. Its applications extend to the chemical industry as a catalyst.
Report Features | Details |
Product Name | Lithium Phosphate |
Chemical Formula | Li3PO4 |
Industrial Uses | Lithium-Ion Batteries, Specialty Glass , Ceramics, Electric Vehicles |
Molecular Weight | 115.8 g/mol |
CAS No. | 10377-52-3 |
Supplier Database | BYD Co.Ltd, Shenzhen Taico Technology Co. Ltd., Lithium Werks Inc., Benergy Tech Co. Ltd., ReLiON Battery LLC |
Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
Currency | US$ (Data can also be provided in local currency) |
Supplier Database Availability | Yes |
Customization Scope | The report can be customized as per the requirements of the customer |
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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