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Silicon anode battery is a type of lithium-ion battery in which silicon is used instead of traditional graphite as the preferred anode material. The use of silicon as an anode in batteries being at a nascent stage and showing promising performances holds immense growth opportunities for the market. The increase in storage potential along with the advantage of a long life of the battery is the other driving force for silicon anode battery adoption. These batteries can be deployed across vast application sectors of which the consumer electronics, automotive, industrial, and energy sectors make a lion's share.
The global silicon anode battery market is segmented based on the capacity and application sectors. Based on capacity, the market is segmented into 0-1500mAh, 1501-2500mAh, and >2500MAh. Being in the nascent stage and higher demand for consumer electronics the >2500MAh segment dominates the market.
Based on application the market is segmented into automotive, consumer electronics, energy & power, and others. With the introduction of electric vehicles and the demand for high capacity in these, the automotive segment is expected to witness healthy growth in the coming years.
The key market driver is the expansion of the application sectors. The electronics industry has been expanding at an exponential rate in the last few years and on a similar scale, the need for curbing carbon emissions has led to growth in the adoption of electric vehicles. These factors coming together along with the energy storage advantage of these batteries will drive the market growth in the coming years.
The key market restraint which can act as a blockade to the growth is the poor cycling performance. Silicon exposure to electrolytes makes additional SEI deposition making the anode bulkier. Therefore, a carbon covering which can handle such large fluctuations becomes necessary.
Key Market Driver -
Longer storage capacity and the expansion of application sectors.
Key Market Restraint -
The ion soaking characteristic of silicon which directly impacts the battery cycling performance.
Some of the key market players include XG Sciences, Enevate Corporation, ENOVIX Corporation, Amprius technologies, Huawei, OneD Material, Inc., Nexeon Ltd, Sila Nanotechnologies Inc., California Lithium Battery, and EoCell Inc.
The global market is studied across five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is the leader in sales of consumer electronics and electric vehicles owing to which it is expected to lead the market in the coming years. China is one of the largest producers of electronic equipment and products used all over the world, which will add up towards regional growth. Europe is the other region that has witnessed a high demand for electric vehicles owing to the participation of maximum countries towards a common aim to reduce greenhouse gas emissions. High-end electronic technologies along with improvements in energy storage will drive the growth in North America. Similarly, the increasing power need, demand for automobiles, and adoption of advanced electronic equipment’s will help the market bloom in Latin America and Middle East and Africa.
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