Industry News
Compared to lithium, sodium has enormous reserves in the Earth's crust and is widely present in rock salts and saltwater around the world. As an important component of the chlor alkali industry, sodium and sodium salts have mature production processes and low prices. In addition, sodium and lithium have similar chemical properties, thus having the potential to enter the fields of energy storage and electric vehicles. However, due to technological bottlenecks and limited performance, sodium batteries have not yet been widely used.
However, in recent times, against the backdrop of significant fluctuations in lithium carbonate prices, more and more battery companies have begun to pay attention to sodium batteries and are making technological and commercial progress. Recently, Swedish battery manufacturer Northvolt announced that the company has made a breakthrough in this technology and plans to provide customers with sodium ion battery samples next year and achieve mass production before 2030. BYD has recently invested 10 billion yuan to build a sodium ion battery project with an annual production capacity of 30GWh in Jiangsu Province, with the goal of becoming the world's largest supplier of sodium ion batteries for micro cars. From this, it can be seen that although it is still in its early stages, some commercial projects for sodium batteries have emerged.
If sodium batteries can eventually be commercialized on a large scale, this field is likely to replicate the commercial development path of lithium batteries. At present, market participants have begun to believe that sodium may inhibit lithium consumption. By 2035, sodium will replace approximately 272000 tons of lithium demand. Due to performance issues such as low energy density, sodium is inevitably unable to replace all lithium. However, if lithium supply cannot meet market demand, the substitution effect will further expand to over 1 million tons. At that time, the market for lithium batteries in light vehicles and energy storage will give way to sodium batteries. It can be imagined how many chemical opportunities will be generated in this industry chain.
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