Market Research Report
Silicon Anode Battery Market Forecasts to 2028 - Global Analysis By Capacity (Below 3,000 mAh, 3,000-10,000 mAh), Product (Silicon Nanotubes Anode, Silicon Coating Anode), Type (Cylindrical, Pouch) and By Geography
|Silicon Anode Battery Market Forecasts to 2028 - Global Analysis By Capacity (Below 3,000 mAh, 3,000-10,000 mAh), Product (Silicon Nanotubes Anode, Silicon Coating Anode), Type (Cylindrical, Pouch) and By Geography|
Published: March 1, 2022
Stratistics Market Research Consulting
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According to Stratistics MRC, the Global Silicon Anode Battery Market is accounted for $63.98 million in 2021 and is expected to reach $333.50 million by 2028 growing at a CAGR of 26.6% during the forecast period. A silicon anode battery is a type of lithium-ion (Li-Ion) battery where the anode is replaced by silicon nanotubes or silicon coating. The idea of using a silicon anode in a battery is still under a lot of testing. This has multiple advantages over ordinary lithium or graphite anodes. The silicon enables long life and high energy storage, resulting in a significantly longer-lasting battery.
Development in the Electronic Industry
The promptly increasing shipments of electronic appliances and devices, extensive growth in industrial and service sectors have led to GDP growth worldwide. As a result, this has had a positive effect on smartphone spending globally, thus eventually impacting the market demand. Currently, it is being widely deployed as a power source in consumer electronics like 3G cell phones, laptops, tablets, MP4 players, and digital cameras, as well as automotive such as electric bicycles and hybrid electric vehicles owing to their high voltage, high energy density, and long life span. Rising demand for microelectronic devices such as laptops, cell phones, and tablets is expected to have a positive impact on the market growth. Growing demand for smartphones due to increasing penetration of the internet is further anticipated to augment the market growth. The growing use of silicon as an anode material in lithium-ion batteries due to its excellent capacity performance is projected to bolster the market growth. Moreover, growing environmental concern coupled with the rising demand for high-performance batteries due to rising demand for high-end electronic applications is further expected to augment the market growth.
Due to the increasing costs of the raw materials which in turn have lifted the cost of manufacturing. The high production cost of the silicon batteries globe is one of the few factors hindering the growth of the market in the coming years.
Development in the IT sector
Growth in the IT sector coupled with the increasing government focus on developing high-performance operating systems is expected to create opportunities for the market. In addition to this, advancement in the technology to offer a high-performance battery and better energy storage system is further anticipated to augment the market growth of the silicon anode battery over the forecast timeframe. An increasing number of new Giga factory projects by manufacturers is expected to offer potential growth opportunities to the market y. For instance, in November 2019, Tesla founder and CEO Elon Musk pledged to build "Gigafactory 4" in the Berlin area. It is planning to build batteries, powertrains, and vehicles, starting with Model Y" a lower-priced sports utility vehicle at the factory.
Deprived Lifecycles of Silicon Materials
Silicon has the property of soaking large amounts of lithium-ions. Therefore, the volume of silicon anode increases when lithium ions bind with silicon. Hence, repeated expansion and contraction of silicon anode while charging and discharging decreases the performance of the battery. This, in turn, is expected to be a major threat to the growth of the market.
Consumer electronics segment is expected to be the largest during the forecast period
The consumer electronics segment is a prominent application segment in the market, due to its huge storage capacity and huge demand for lithium-ion with silicon anode. Its reliability, huge energy storage, long cycle life, and safety features help to grow the market. The development in the battery would demand a high value of portable devices in consumer electronics applications. The utilization of high-end technologies in the energy industries is expected to witness huge opportunities. The use of it helps in storing huge amounts of energy, thus, increasing the potential of the battery; the high storage of energy helps several automotive manufacturers to raise an electric range of vehicles. The silicon anode battery also helps in lessening the cost of manufacturers. Furthermore, the growth in the demand for electric vehicles would help in an increase in silicon anode batteries. Hence, these above factors have a positive impact on the market globally.
The 3,000-10,000 mAh segments is expected to have the highest CAGR during the forecast period
The 3,000-10,000 mAh segments are expected to dominate the silicon anode battery market during the forecast period, due to their high capacities with unmatched capabilities. Silicon batteries with this range are the most demanded and used batteries in the market. These batteries are used in a majority of sectors such as consumer electronics, electric vehicles, aviation, and power tools, in the form of individual cells or a battery pack modules. Silicon batteries of this range are also known to have higher efficiency up to 85-90% and also have a stable cycling performance over 200+ cycles.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to the increasing industries such as automotive, consumer electronics, and renewable energy. Moreover, the advancements in the technologies used in wearable devices and the consumer electronics sector drive the growth of the market in this province. For instance, according to secondary sources, in 2020, China produced 77% of lithium-ion batteries alone. Furthermore, growth in the adoption of electric vehicles and renewable energy sources, and increasing R&D activities on new battery technologies by various countries in the province are one of the important factors that propel the growth of the market.
Region with highest CAGR:
North America is projected to have the highest CAGR, as it is one of the primary regions where 5G cellular network technology has been launched. Also, the electronic devices market is highly developed in countries of the area in particular the U.S. and Canada. Battery manufacturers such as Amprius Technologies, Sila Nanotechnologies Inc., and Nanotek Instruments, Inc. have established their headquarters in the U.S. These players are also getting investment from other players for improving their current battery technology and production rate. This has helped the regional silicon anode battery manufacturers in improving their market share.
Key players in the market:
Some of the key players profiled in the Silicon Anode Battery Market include ActaCell, Inc., Amprius, Inc., California Lithium Battery, CONNEXX SYSTEMS Corporation, Enevate Corporation , Nanotek Instruments, Inc. , Nexeon Limited , OneD Material, Inc. XAOS Motors, PyroGenesis Canada Inc, Samsung SDI, Solid Energy A/S, XG Sciences Inc., Zeptor Corporation, Sila Technologies.
In August 2020: PyroGenesis Canada signed an agreement with HPQ Nano Silicon Powders Inc. The agreement aimed towards exploitation of benefits offered by the novel PUREVAP™ Nano Silicon Reactor (NSiR) in producing nano Silicon powder and battery market as the prime target.
In July 2020: NanoGraf, which is an advanced battery material company announced the contracts it received from the U.S. Department of Defence for the development of a longer-lasting lithium-ion battery. The company will develop silicon anode-based lithium-ion technology in a format compatible with all portable batteries, aiming for a 50-100% increase in runtime.
In April 2019: Sila Technologies, partnered with BMW and Daimler, on Next Generation Lithium-ion Battery Materials. Strategic partnership with leading U.S. battery material specialist to pave the way for the next generation of powerful electric Mercedes-Benz Cars.
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Table17 Global Silicon Anode Battery Market Outlook, By Consumer Electronics (2020-2028) (US $MN)