Global LMFP Market Growth 2025-2031
Description
The global LMFP market size is predicted to grow from US$ 1102 million in 2025 to US$ 43686 million in 2031; it is expected to grow at a CAGR of 84.6% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Lithium manganese iron phosphate (LiMnxFe1-xPO4) is a new type of phosphate-based lithium-ion battery cathode material formed by doping a certain proportion of manganese (Mn) on the basis of lithium iron phosphate (LiFePO4). Through the doping of manganese, on the one hand, the advantages of iron and manganese can be effectively combined, and on the other hand, both manganese and iron are located in the fourth subgroup of the periodic table and are adjacent to each other, with similar ions Radius and some chemical properties, so doping will not significantly affect the original structure.
Global LMFP core manufacturers are Ronbay New Energy Technology、HCM CO., LTD.、Lithitech、Shenzhen Dynanonic、Easpring Material Technology and Jiangsu Hengtron Nanotech Co., Ltd, the top five manufacturers account for about 76% of the global share. China is the largest market with about 98% share. In terms of product type, Solid Phase Method is the largest segment with a share of about 74%. And in terms of application, Two-wheeled Vehicles is the largest downstream segment with a share of 89%.
The main market drivers of lithium manganese iron phosphate (LMFP) include the following:
1. Technical performance advantages: breaking through the bottleneck of traditional materials
Energy density improvement: Compared with lithium iron phosphate (LFP), LMFP increases the voltage platform from 3.4V to 4.1V by manganese doping, and the theoretical energy density is increased by 10%-20%, which is close to the level of ternary materials (NCM), meeting the long-range requirements of electric vehicles.
Low-temperature performance optimization: Manganese improves the low-temperature discharge capability of LFP. Experimental data show that the capacity retention rate of LMFP at -20°C is increased by about 15%, which is more suitable for application in low-temperature areas such as the north.
Safety enhancement: Inheriting the olivine structural stability of LFP, LMFP performs well in overcharge, needle puncture and other tests, and the thermal runaway temperature is higher than that of ternary materials, which meets the safety requirements of power batteries.
2. Policy support: dual carbon goals and industrial planning promotion
New energy vehicle policy tilt: China's "New Energy Vehicle Industry Development Plan (2021-2035)" clearly proposes "breaking through key power battery technologies", and LMFP is included in the technology roadmap as a high-safety, low-cost material.
Energy storage market policy incentives: Global energy storage installed capacity is growing rapidly, and China's "14th Five-Year Plan" proposes new energy storage installed capacity targets. The long cycle life of LMFP (up to 3,000 times or more) is suitable for energy storage scenarios.
Environmental regulations and constraints: The EU "Batteries and Waste Batteries Regulation" requires battery carbon footprint declarations. LMFP raw materials (manganese and iron) are abundant in resources, and the production process is low in pollution, which is in line with the trend of green manufacturing.
3. Industry chain collaboration: upstream and downstream linkage accelerates technology implementation
Positive material enterprise layout: Leading companies such as Defang Nano and Rongbai Technology have achieved LMFP mass production, and reduced costs through solid phase and liquid phase process optimization. For example, Defang Nano uses "Niejia interface modification technology" to improve conductivity.
Battery manufacturer cooperation verification: CATL, BYD and others cooperate with car companies to develop LMFP batteries. For example, CATL M3P batteries (including LMFP) have been installed in Chery Xingjiyuan models to achieve mass production applications.
Demand pull of vehicle companies: Tesla, Volkswagen and other car companies have included LMFP in their supply chain planning to promote the expansion of material companies' production capacity.
4. Market demand: Diversified application scenario expansion
Demand for cost reduction in electric vehicles: LMFP costs about 30% less than ternary materials, and can replace some mid- and low-end vehicle batteries, helping automakers cope with the pressure of subsidy reduction.
Energy storage market explosion: Global electrochemical energy storage installed capacity has increased, and LMFP's long cycle life and high safety are suitable for industrial and commercial energy storage and household energy storage scenarios.
Penetration of two-wheeled vehicles and consumer electronics: LMFP gradually replaces traditional lithium manganese oxide in electric bicycles, drones and other fields to improve endurance.
5. Cost-effectiveness: Large-scale production and supply chain optimization
Raw material cost advantage: Manganese and iron resources are abundant, and price fluctuations are less than metals required for ternary materials such as cobalt and nickel.
Improvement of process maturity: Through doping modification, nano-crystalization and other technologies, LMFP production yield is improved and unit energy consumption is reduced.
Circular economy model: With the development of battery recycling technology, the recovery rate of LMFP positive electrode materials can reach more than 95%, reducing the cost of the entire life cycle.
The core driving factors of the growth of the lithium manganese iron phosphate market include performance improvements brought about by technological breakthroughs, commercialization promoted by policies and industrial chains, demand release from diversified application scenarios, and cost-effectiveness advantages. In the future, with the continuous optimization of material modification technology and large-scale production, LMFP is expected to occupy a larger market share in the fields of power batteries and energy storage, becoming an important development direction for lithium-ion battery positive electrode materials.
LP Information, Inc. (LPI) ' newest research report, the “LMFP Industry Forecast” looks at past sales and reviews total world LMFP sales in 2024, providing a comprehensive analysis by region and market sector of projected LMFP sales for 2025 through 2031. With LMFP sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world LMFP industry.
This Insight Report provides a comprehensive analysis of the global LMFP landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on LMFP portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global LMFP market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for LMFP and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global LMFP.
This report presents a comprehensive overview, market shares, and growth opportunities of LMFP market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Solid Phase Method
Liquid Phase Method
Semi-solid Semi-liquid Method
Segmentation by Application:
Electric Vehicles (EVs)
Two-wheeled Vehicles
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Ronbay New Energy Technology
HCM CO., LTD.
Lithitech
Shenzhen Dynanonic
Easpring Material Technology
Jiangsu Hengtron Nanotech Co., Ltd
Hubei RT Hi-Tech Advanced Materials
Key Questions Addressed in this Report
What is the 10-year outlook for the global LMFP market?
What factors are driving LMFP market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do LMFP market opportunities vary by end market size?
How does LMFP break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Lithium manganese iron phosphate (LiMnxFe1-xPO4) is a new type of phosphate-based lithium-ion battery cathode material formed by doping a certain proportion of manganese (Mn) on the basis of lithium iron phosphate (LiFePO4). Through the doping of manganese, on the one hand, the advantages of iron and manganese can be effectively combined, and on the other hand, both manganese and iron are located in the fourth subgroup of the periodic table and are adjacent to each other, with similar ions Radius and some chemical properties, so doping will not significantly affect the original structure.
Global LMFP core manufacturers are Ronbay New Energy Technology、HCM CO., LTD.、Lithitech、Shenzhen Dynanonic、Easpring Material Technology and Jiangsu Hengtron Nanotech Co., Ltd, the top five manufacturers account for about 76% of the global share. China is the largest market with about 98% share. In terms of product type, Solid Phase Method is the largest segment with a share of about 74%. And in terms of application, Two-wheeled Vehicles is the largest downstream segment with a share of 89%.
The main market drivers of lithium manganese iron phosphate (LMFP) include the following:
1. Technical performance advantages: breaking through the bottleneck of traditional materials
Energy density improvement: Compared with lithium iron phosphate (LFP), LMFP increases the voltage platform from 3.4V to 4.1V by manganese doping, and the theoretical energy density is increased by 10%-20%, which is close to the level of ternary materials (NCM), meeting the long-range requirements of electric vehicles.
Low-temperature performance optimization: Manganese improves the low-temperature discharge capability of LFP. Experimental data show that the capacity retention rate of LMFP at -20°C is increased by about 15%, which is more suitable for application in low-temperature areas such as the north.
Safety enhancement: Inheriting the olivine structural stability of LFP, LMFP performs well in overcharge, needle puncture and other tests, and the thermal runaway temperature is higher than that of ternary materials, which meets the safety requirements of power batteries.
2. Policy support: dual carbon goals and industrial planning promotion
New energy vehicle policy tilt: China's "New Energy Vehicle Industry Development Plan (2021-2035)" clearly proposes "breaking through key power battery technologies", and LMFP is included in the technology roadmap as a high-safety, low-cost material.
Energy storage market policy incentives: Global energy storage installed capacity is growing rapidly, and China's "14th Five-Year Plan" proposes new energy storage installed capacity targets. The long cycle life of LMFP (up to 3,000 times or more) is suitable for energy storage scenarios.
Environmental regulations and constraints: The EU "Batteries and Waste Batteries Regulation" requires battery carbon footprint declarations. LMFP raw materials (manganese and iron) are abundant in resources, and the production process is low in pollution, which is in line with the trend of green manufacturing.
3. Industry chain collaboration: upstream and downstream linkage accelerates technology implementation
Positive material enterprise layout: Leading companies such as Defang Nano and Rongbai Technology have achieved LMFP mass production, and reduced costs through solid phase and liquid phase process optimization. For example, Defang Nano uses "Niejia interface modification technology" to improve conductivity.
Battery manufacturer cooperation verification: CATL, BYD and others cooperate with car companies to develop LMFP batteries. For example, CATL M3P batteries (including LMFP) have been installed in Chery Xingjiyuan models to achieve mass production applications.
Demand pull of vehicle companies: Tesla, Volkswagen and other car companies have included LMFP in their supply chain planning to promote the expansion of material companies' production capacity.
4. Market demand: Diversified application scenario expansion
Demand for cost reduction in electric vehicles: LMFP costs about 30% less than ternary materials, and can replace some mid- and low-end vehicle batteries, helping automakers cope with the pressure of subsidy reduction.
Energy storage market explosion: Global electrochemical energy storage installed capacity has increased, and LMFP's long cycle life and high safety are suitable for industrial and commercial energy storage and household energy storage scenarios.
Penetration of two-wheeled vehicles and consumer electronics: LMFP gradually replaces traditional lithium manganese oxide in electric bicycles, drones and other fields to improve endurance.
5. Cost-effectiveness: Large-scale production and supply chain optimization
Raw material cost advantage: Manganese and iron resources are abundant, and price fluctuations are less than metals required for ternary materials such as cobalt and nickel.
Improvement of process maturity: Through doping modification, nano-crystalization and other technologies, LMFP production yield is improved and unit energy consumption is reduced.
Circular economy model: With the development of battery recycling technology, the recovery rate of LMFP positive electrode materials can reach more than 95%, reducing the cost of the entire life cycle.
The core driving factors of the growth of the lithium manganese iron phosphate market include performance improvements brought about by technological breakthroughs, commercialization promoted by policies and industrial chains, demand release from diversified application scenarios, and cost-effectiveness advantages. In the future, with the continuous optimization of material modification technology and large-scale production, LMFP is expected to occupy a larger market share in the fields of power batteries and energy storage, becoming an important development direction for lithium-ion battery positive electrode materials.
LP Information, Inc. (LPI) ' newest research report, the “LMFP Industry Forecast” looks at past sales and reviews total world LMFP sales in 2024, providing a comprehensive analysis by region and market sector of projected LMFP sales for 2025 through 2031. With LMFP sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world LMFP industry.
This Insight Report provides a comprehensive analysis of the global LMFP landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on LMFP portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global LMFP market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for LMFP and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global LMFP.
This report presents a comprehensive overview, market shares, and growth opportunities of LMFP market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Solid Phase Method
Liquid Phase Method
Semi-solid Semi-liquid Method
Segmentation by Application:
Electric Vehicles (EVs)
Two-wheeled Vehicles
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Ronbay New Energy Technology
HCM CO., LTD.
Lithitech
Shenzhen Dynanonic
Easpring Material Technology
Jiangsu Hengtron Nanotech Co., Ltd
Hubei RT Hi-Tech Advanced Materials
Key Questions Addressed in this Report
What is the 10-year outlook for the global LMFP market?
What factors are driving LMFP market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do LMFP market opportunities vary by end market size?
How does LMFP break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
100 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for LMFP by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for LMFP by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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