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The U.S. silicon anode market size was worth USD 46.05 million in 2022 and is projected to grow at a CAGR of 42.1% during the forecast period.
Silicon anodes have high power density and long battery lifespan and require low-cost maintenance. They help to increase the electrochemical performance of silicon lithium batteries.
The increasing adoption of silicon anodes in the U.S. is due to the increasing demand from the electronics and automotive sectors. The growing demand for high-quality and durable products is expected to boost the market growth in the country. The automotive industry is expected to be a major driver for the market. Factors such as higher disposable income and the country's developed automotive sector effectively drive the product demand.
During COVID-19 pandemic, extended lockdowns in electronics, automotive, industrial machinery, and consumer goods led to a short-term production halt in all countries. Thus, the demand for silicon anodes from several industries fell abruptly. Only a few OEMs in the U.S. continued to receive raw materials from suppliers, with factories able to meet short-term demand, while others ceased operations. Due to the demand difficulties caused by COVID-19, the battery manufacturing industry in the country faced a capacity shortage ranging from 25 GWh to 30 GWh in 2020.
Increasing Sustainable Technologies to Aid Market Growth
The growing awareness of sustainable technologies is expected to drive the product demand, as silicon anodes have high stability, durability, and efficiency. Using silicon-based anode materials helps reduce carbon emissions and promotes sustainable technologies by accumulating the efficiency of energy storage systems.
Additionally, the analysis of the latest market trends illustrates the increased focus on reducing carbon emissions and promoting sustainable technologies, boosting the demand for clean and renewable energy sources, which is anticipated to drive the demand for energy storage solutions in the coming years. Therefore, the growing demand for sustainable technologies will drive the U.S. market during the forecast period.
Growing Electric Vehicles (EVs) Demand May Favor Market Growth
The augmented demand for sustainable technologies and the growing demand for Electric Vehicles (EVs) are driving the U.S. silicon anode market growth. The rising demand for high-performance, safe, and long-lasting batteries for many applications, such as consumer electronics, grid storage, and electric vehicles, continues to drive the product consumption in the U.S.
Furthermore, silicon anodes are identified for their durability and high stability, making them an appropriate alternative to graphite in lithium ion batteries. Their high efficiency also provides longer battery life, a desirable feature in EVs. They also have longer lifespans and higher energy densities than graphite anodes, making them a promising candidate for developing next-generation lithium ion batteries.
Growth in the automotive sector has led to increased production of lithium-based batteries, causing a decline in prices and the development of innovative, cost-effective methods. Thus, the increasing adoption of EVs is anticipated to boost the demand for lithium-ion silicon batteries and, in turn, increase silicon anode consumption.
Restriction on the Use of Silicon Anodes to Meet Demand May Hinder the Market Growth
Silicon is abundant on Earth, and the significant production of silicon-based materials is well realized over long distances. However, implementing silicone-based materials in industrial use as anodes for lithium ion batteries is difficult. On the way to the industrial application of silicon materials as anodes, some challenges must be overcome.
Phenomenologically, large volume variation leads to several consequences, typically fractures and cracks of the silicon anode, regeneration and destruction of the Solid Electrolyte Interphase (SEI) layer on the fractured surfaces, and deterioration of electronic conductivity. These factors and their influence on electrochemical properties are now commonly referred to as the chemical-mechanical effect, which directly contributes to the battery system's rapid capacity loss and restricts the market growth.
Based on capacity, the market is segmented into <=3000 mAh/g and >3000 mAh/g.
The >3000 mAh/g segment holds a major U.S. silicon anode market share. Silicon anodes of >3000 mAh/g capacity have up to 10 times higher capacity per gram (mAh/g) and up to three times higher volumetric capacity (mAh/cc) than graphite base anodes. Silicon has become one of the most attractive high-capacity anode materials due to its highest theoretical capacity (4200 mAh/g) compared to traditional graphite anodes. However, owing to the high specific capacity of silicon, the alloy with lithium leads to a large change in volume (more than 300%). These extreme volume changes can lead to severe electrode tears and collapse, causing significant loss of capacitance.
Based on end-use industry, the market is divided into automotive, consumer electronics, energy & power, industrial, and others.
The automotive segment accounts for the highest U.S. market share and is anticipated to grow during the forecast period. The rapidly growing automobile sector is boosting product consumption significantly.
The consumer electronics segment accounted for significant market growth during the forecast period. The growing urban population, rising disposable income, and a robust supply chain increase the demand for electronic appliances. Also, rising digitalization pushed by COVID-19 is expected to play a major role in driving the product demand.
In terms of the competitive landscape, the U.S. market depicts the presence of established and emerging companies. Key players include Amprius Technologies, Enevate Corporation, Sila Nanotechnologies Inc., Alkegen, and NanoGraf Corporation. Industry players compete primarily based on the price and application characteristics of the product. Companies are emphasizing product innovation, social marketing, acquisition, and collaborations.
The U.S. silicon anode market research report thoroughly examines key factors such as leading companies, applications, and products. It also provides market trends and highlights significant industry advancements. The study includes different variables that have contributed to the market's growth in recent years and the factors listed above. It examines the industry's newest market dynamics, opportunities, historical data, and revenue growth estimates at the country levels.
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CAGR of 42.1% from 2023 to 2030
Value (USD Million)
By Capacity and End-use Industry
By End-use Industry
Fortune Business Insights says the U.S. market was worth USD 46.05 million in 2022.
The market is expected to exhibit a CAGR of 42.1% during the forecast period (2023-2030).
The automotive segment is expected to lead the market during the forecast period.
Amprius Technologies, Enevate Corporation, Sila Nanotechnologies Inc., Alkegen, and NanoGraf Corporation are the top players in the market.
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