The future growth of soft magnet demand in the energy storage field
The future compound growth rate of soft magnetic demand in the field of energy storage is about 85%
The development of energy storage technology is one of the most important links in the field of new energy power generation. “Source-network-load-storage” are four indispensable elements in the new power system. Energy storage technology has enormous value. After new energy is integrated into the power grid, energy storage can achieve real-time balance in power, improve system capacity coefficient and energy consumption capacity, and cut peaks and fill valleys, thus providing guarantee for energy security. It is an important component of new power systems and modern energy systems part. The development of energy storage technology is particularly important in the current situation of high electricity cost, weak grid coordination ability, and insufficient reliability of power supply.
The future growth of soft magnet demand in the energy storage field
The energy storage market policy is good enough and the track is wide enough. Since 2022, the policy level has paid great attention to the energy storage industry, and a series of favorable policies have been continuously introduced: In January, the “14th Five-Year Plan” New Energy Storage Development Implementation Plan set the development goals for new energy storage;6 In March, 48 local energy storage policies were issued, involving energy storage subsidies, energy storage installation planning, and energy storage facility construction. Under favorable policies, the energy storage industry has grown rapidly, and the “new energy + energy storage” project has been rapidly rolled out across the country. 2023 may become the “year of great storage”, and the market demand for soft magnetic material energy storage is about to explode. According to industry production data, the unit consumption of metal soft magnetic powder cores required for energy storage is 200 tons/GW. It is estimated that the newly installed capacity of global energy storage will be 50GW in 2023, an increase of 120% year-on-year, and may reach 146GW in 2025. Based on this calculation, the global soft magnetic demand in the energy storage field will reach 29,200 tons, and the CAGR from 2022 to 2025 will be about 85% .
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