[Click eStock] "Chunbo, Rapidly Growing LiFSI Market"

On August 25, Research Arum stated that Chunbo holds a unique competitive advantage in the rapidly growing next-generation electrolyte (LiFSI) market.

LiFSI is a high value-added specialty electrolyte for lithium-ion batteries. Its importance is rising quickly as the use of high-voltage and high-nickel cathode materials, as well as silicon-based anode materials, increases. Compared to the commonly used LiPF6, it offers superior stability and excellent low-temperature performance. Its application is expanding across various fields, including electric vehicles, energy storage systems (ESS), and high-reliability IT device batteries that require long-term warranties.

Lee Seunghwan, a researcher at Research Arum, introduced Chunbo by stating, "Chunbo became the first in the world to commercialize LiFSI in 2016, securing a technological edge in the global electrolyte market."

However, he explained, "From 2022 to 2023, the company faced difficulties in maintaining profitability due to declining global electric vehicle demand and price pressures from low-cost Chinese products, which led to a drop in the average selling price (ASP)." He added, "Chunbo has built a large-scale dedicated LiFSI plant in the Saemangeum National Industrial Complex and introduced a new manufacturing process based on lithium carbonate. This new process can reduce manufacturing costs by more than 30%."

He further predicted, "If demand for high-nickel and silicon batteries and high-spec ESS recovers in earnest, Chunbo's sales growth rate will accelerate even further."

Chunbo is estimated to achieve consolidated sales of 166.5 billion won and operating profit of 15.5 billion won this year. Sales are expected to increase by 14.9% compared to last year, and operating profit is projected to turn positive.