Secondary battery, more than twice the market share of last year↑… Production, export, and domestic demand’triple increase’

(Photo = Image Today)

[세종=이데일리 김상윤 기자] Last year, the domestic secondary battery production, export, and domestic demand recorded a’triple increase’, and the market share of the electric vehicle batteries of the three domestic companies has more than doubled.

According to the Ministry of Trade, Industry and Energy and the Korea Battery Industry Association on the 18th, in 2020, the secondary battery industry recorded 2.3 trillion won in production, 7.2 trillion won in exports, and 5.3 trillion won in domestic demand, respectively. Production increased by 20.0% compared to the same period last year, and exports increased by 2.9% and domestic demand by 11.6%.

The booming battery is due to the growing demand for lithium-ion batteries for electric vehicles as the global electric vehicle (EV) market is growing.

Lithium-ion batteries account for 20.6 trillion won out of the total production of secondary batteries of 23 trillion won.

Lithium-ion battery exports increased 10.6% from 1.1 trillion won in 2019 to 1.3 trillion won last year.

The market share of major domestic secondary battery makers such as LG Energy Solution, Samsung SDI, and SK Innovation has also increased. As of November last year, the combined market share of the three companies was 34%, more than twice that of 16% in 2019.

This year, the battery industry is expected to continue to grow. This is because the demand for secondary batteries is expected to increase significantly as downstream industries such as electric vehicles and ESS (energy storage devices) grow due to eco-friendly policies of major countries such as Europe, the United States, and China.

This year’s secondary battery production is expected to reach 31 trillion won and exports to $7 billion, up 32.0% and 5.7% year-on-year, respectively.

Vice Minister Park Jin-gyu of the Ministry of Industry visited Misomsystech, a rechargeable battery solution company, on the same day. We will actively support verification, safety techniques, and standardization.”

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