LiFePO4 battery widely used in market

Due to advantages in safety, super life-sapn, long cycle life and non-heavy metals, non-toxic, nopollution with ROHS regulations, lithium iron phosphate batteries are widely used in electric vehicles, power tools, electric bicycles, energy storage devices, etc. For now, they are mainly used as power batteries for electric vehicles. In 2014, some 12,500 tons of lithium iron phosphate were sold globally, and they were mainly sold to China, almost accounting for 75% of the total. That was mainly because Chinese electric vehicle enterprises tend to adopt lithium iron phosphate as power batteries of cathode materials. Additionally, China's great support for new energy vehicles has promoted the rapid increase of the country's demand for lithium iron phosphate. In contrast, cathode materials for power batteries in the US, Japan, and South Korea are dominated by ternary material and lithium manganate.

Globally, the traditional lithium iron phosphate material manufacturers mainly include the U.S.-based A123 and Valence and the Canada-based Phostech, which grasp mature mass-production technology. In recent years, however, lithium iron phosphate enterprises in Mainland China and Taiwan have been developing very fast, accompanied by dramatic capacity expansion and rising market position. By the end of 2014, over 80% of the world's lithium iron phosphate originated from Mainland China and Taiwan, of which the Taiwanese lithium iron phosphate material manufacturers were mainly Formosa and Aleees, of which total capacity approximated 7,300 tons in 2014.
The application of lithium iron phosphate batteries in energy storage, photovoltaic and communication batteries is on the rise, reflecting a huge space for development. In the field of electric bicycles, the batteries have obvious advantages over the traditional lead-acid batteries, hence a larger alternative space.