Silicon Anode Lithium-ion Battery Market to Hit USD 257.6 million by 2031, Growing at a CAGR a 64.5% | By TMR
The silicon anode lithium-ion battery market size is driven by increased demand for electric vehicles, portable electronics, and grid storage solutions
Wilmington, Delaware, United States, Nov. 06, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global silicon anode lithium-ion battery market stood at US$ 1.0 Mn in 2022 and is projected to reach US$ 257.6 Mn in 2031. The global silicon anode lithium-ion battery market is anticipated to expand at a CAGR of 64.5% between 2023 and 2031.
Silicon anode batteries have higher energy density than traditional lithium-ion batteries, so they can store more energy in a smaller space, making them an attractive option for various applications. Key players in the industry are investing heavily in research and development activities to improve the performance of silicon anode batteries. They are also focusing on the reduction of the cost of production. This includes reducing raw material costs, improving manufacturing processes, and increasing production efficiency.
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Silicon anode lithium-ion batteries use silicon as the anode material instead of traditional graphite. Lithium ions from the cathode are absorbed by the silicon anode while charging, causing the silicon to expand. During discharge, the lithium ions move back to the cathode, causing the silicon to contract. This process enables the battery to store and release energy.
Significant volume change occurs during lithiation and delithiation in silicon anode Li-ion batteries, which results in a rapid decline in energy capacity. Researchers and manufacturers are exploring various solutions to overcome this challenge, such as using nanoscale silicon particles, silicon-carbon composites, and other materials, to improve the stability and durability of silicon anodes.
Wearable device manufacturers are increasingly adopting thin silicon anode lithium-ion batteries to reduce the weight of their products. Thus, rise in usage of consumer electronics devices is projected to spur the silicon anode lithium-ion battery market growth in the near future.
Safety concerns related to traditional lithium-ion batteries have prompted manufacturers to develop safer, higher-density alternatives. Use of silicon anodes in lithium-ion batteries can reduce the risk of thermal runaway, which can be a safety concern in traditional lithium-ion batteries.
Silicon Anode Lithium-ion Battery Market: Key Players
- Sila Nanotechnologies was awarded US$ 100 Mn by the U.S. Department of Energy to fund the build-out of the company’s 600,000+ square foot facility in the U.S. and scale manufacturing of its breakthrough silicon anode materials.
- Group14 Technologies, a global manufacturer of the active material used in advanced silicon-carbon anodes, partnered with StoreDot, a fast charging battery technology company, to leverage Group14’s proprietary lithium-silicon technology for the development and launch of StoreDot’s XFC lithium-silicon cells for electric vehicles.
Key Takeaways of Market Report
- Global silicon anode lithium-ion battery market to generate absolute dollar opportunity worth US$ 257.6 million until 2031.
- Global silicon anode lithium-ion battery market from 2023 to 2031 is 64.5%
- The global silicon anode lithium-ion battery market is valued at US$ 8.5 million in 2023.
- The global silicon anode lithium-ion battery market stood at US$ 1 million in 2022.
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Silicon Anode Lithium-ion Battery Market: Growth Drivers
- High energy capacity and the small size of silicon anode batteries make them well-suited for consumer electronics, healthcare, and industrial applications.
- Consumer electronics, such as smartphones, laptops, and tablets, require high-performance batteries that provide longer battery life, faster charging, and better safety.
Silicon anode lithium-ion batteries offer several advantages over traditional lithium-ion batteries, such as higher energy density, faster charging, and improved safety. This makes them an attractive option for consumer electronics manufacturers looking to differentiate their products and provide a better user experience.
- Adoption of silicon anode lithium-ion batteries is likely to reduce the use of cobalt, nickel, and manganese, which are commonly employed in traditional lithium-ion batteries. Extraction and processing of these materials have significant environmental impacts, including water pollution and deforestation.
Silicon Anode Lithium-ion Battery Market: Regional Landscape
- According to the latest silicon anode lithium-ion battery market analysis, Asia Pacific is projected to hold largest share during the forecast period. Rise in investment in electric vehicles and renewable energy along with the presence of major vendors is boosting market dynamics in the region. China is poised to be major growth engine of the industry in Asia Pacific, as the country is a major market for Li-ion batteries.
- The industry in North America is projected to grow at a significant pace in the near future. Surge in sales of electric vehicles and growth in investment in the R&D of advanced battery technologies are augmenting market statistics in the region. The industry in Latin America and Middle East & Africa is expected to grow moderately during the forecast period. These regions collectively held less than 5.0% share in 2022.
Silicon Anode Lithium-ion Battery Market: Segmentation
- Nanostructured Silicon Anode
- Si-based Carbon Composite Anode
- <3000 mAh
- 3000 mAh-10000 mAh
- >10000 mAh
- Consumer Electronics
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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