ICL Group Ltd., Tel Aviv, said it is expanding specialty MAP solutions product offerings at its YPH joint venture plant in China to include material for the production of lithium iron phosphate (LFP) batteries destined for electric cars and other energy storage.
The group said in an Aug. 30 statement it is now able to offer a complete range of MAP solutions at the YPH plant and is committed to creating additional capacity to meet rapidly increasing customer demand for specialty MAP products.
“Over the past several years, Chinese producers have been leading in the LFP battery space, which currently accounts for some 23 percent of the global Li-ion battery market and is expected to grow at 25 percent compound annual growth rate (CAGR) through 2030, according to Boulder, Colo.-based Cairn ERA,” said ICL.