- While Japanese Sumitomo Chemical reassured its No.1 place, Chinese suppliers dominated the market|
In the global cathode material shipment in Q1 this year, LG Chem took 9th place (Based on cathode material shipments used in electric vehicles sold during the period). Japanese Sumitomo Chemical ranked No.1 for two years in a row, and Chinese suppliers formed a leading group.
The LG Chem’s Q1 shipment came to 813 tons, up 2.2% from the same period last year. However, the ranking dropped from 9th to 5th place. The increased supplies for Chrysler Pacifica PHEV and Shanghai GM CT6 were offset by the reduced supply for Renault Zoe.
Umicore, Pulead, Xiamen, BASF TODA, Shanshan, Guoxuan all recorded growth rates higher than the market average, resulting in higher rankings. In particular, Pulead and Guoxuan added their names on the top 10 list for the first time. On the other hand, Nichia and BYD could not catch up the market growth and suffered ranking drops.
By country, China put five domestic suppliers on the top 10 list. LG Chem will face increasing intensifying competition with these Chinese suppliers in the following years.