China Merchants Securities: Solid-state battery glue frame printing process iteration, UV printing stands out

According to the Zhitong Finance APP, China Merchants Securities has released a research report stating that to address the core process difficulties of solid-state battery solid-solid interfaces, new isostatic equipment will be added in the later stage of battery preparation to ensure tight contact at the interface. Additionally, a UV printing process will be introduced in the middle stage to ensure insulation at the edges of the electrode sheets and prevent short circuits. UV printing is a type of frame printing technology, which, to adapt to the stringent production environment and material requirements of solid-state battery production, places high performance demands on UV printing laser equipment and UV insulating adhesives. The firm recommends paying attention to Delphi Laser (688170.SH), United Winners Laser (688518.SH), SOKAN (688157.SH), and Jiuri (688199.SH).

The main points of China Merchants Securities are as follows:

Introduction to the UV Printing Process for Solid-State Batteries

In the manufacturing of all-solid-state batteries, the stacking process layers the positive electrode, solid electrolyte, and negative electrode, ensuring interface contact through isostatic processes. However, high pressure can easily lead to the collapse or misalignment of the edges of the electrode sheets, posing a risk of short circuits between the positive and negative electrodes. Therefore, insulation packaging for the electrode sheets is necessary, with the addition of frame isolation. In the frame printing technology, UV printing, with its laser-assisted high precision (micron level) and automation advantages, is more suitable for the manufacturing needs of solid-state batteries and is currently the main choice for leading battery manufacturers.

High Requirements for Lasers and Control Systems in Solid-State Battery UV Printing

As a multi-step precision process, its overall cycle time is currently a bottleneck in solid-state battery production lines. Numerous variables, including laser parameters, dispensing speed, adhesive viscosity, and UV curing energy, need to be precisely controlled; any fluctuation in any link may affect the yield of the final product and the overall efficiency of the production line. Additionally, there are high requirements for lasers, necessitating high-end equipment such as ultrafast lasers to form micron-level precision structures on the surface of the electrode sheets. Currently, companies like Delphi Laser and United Winners Laser have layouts in related solid-state products, with some products already receiving orders from leading enterprises.

Higher Requirements for UV Adhesives Due to Insulation of Solid-State Battery Electrode Sheets

In traditional liquid battery production, UV adhesive spraying is mainly used to replace traditional blue film solutions, forming a solid, transparent protective film on the surface of lithium-ion batteries. UV materials possess excellent environmental performance, high production efficiency, and superior resistance to high pressure. However, in solid-state battery production, due to its use for insulation between electrode sheets, higher requirements are placed on the tensile strength, flexibility, and puncture resistance of UV adhesives. Additionally, the main body of the UV adhesive and the light guide agent must not react with the sulfide electrolyte. According to industry feedback, new formulations of solid-state battery UV adhesives will have strong barriers. Currently, leading UV adhesive company SOKAN has made certain layouts in related solid-state UV adhesive products and equipment.

Risk Warning: Downstream demand may not meet expectations, and technological advancements may not meet expectations