The global solid electrolyte market held a market value of USD 20.19 million in 2021 and is estimated to reach USD 52.09 million by the year 2030. The market is projected to list a CAGR of 11.37% during the forecast period. The market volume is accounted to be 126.16 tons in 2021.
A solid electrolyte is a solid ionic conductor and electron insulating material that is being utilized in a lot of industries, including healthcare and automotive. The solid electrolyte industry is fueling owing to the rising demand for solid state batteries, increasing inclination towards electric vehicles, and the rising concern towards renewable energy systems.
On the other hand, the complicated process of production, as well as the high cost of the solid state batteries hold back the growth of the industry. In the development of solid state batteries, the issues related to the interface between electrode and electrolytes, dendrites, and poor solid contract hinder the growth of the market to a limited extent. Nevertheless, many prominent players are working rigorously on these concerns revolving around solid state batteries.
Rising Demand for Solid State Batteries
Solid state batteries pose as a substantial alternative towards lithium ion battery technology. Such solid state batteries are widely utilized in radio frequency identification, wearable devices, defibrillators, pacemakers, and many other devices. The small size coupled with the lightweight element of such batteries act as a positive point for electric vehicle industry, thus rising the demand for solid electrolytes substantially.
Increasing Focus of Players on Solid Electrolyte Batteries R&D
The prominent players in the solid electrolyte industry are focused on research and development of components to sustain in the market. These players are investing in top notch equipment and facilities to gain a competitive edge. For instance, in October 2021, BrightVolt, Inc., a global leader in the design, development, and manufacturing of safe, high energy, low-cost solid-state lithium-Ion batteries, closed the first tranche of the USD 16 million Series B financing round with significant investments from New Science Ventures (NSV) and Caterpillar Venture Capital Inc.
In addition to that, in November 2020, BrightVolt invested in battery testing and development equipment to its already extensive installed base at its R&D facilities in Indiana, US. Moreover, in April 2018, BrightVolt invested in new equipment to augment the solid state battery development. Thus, all such measures drive the growth rate of solid electrolyte industry to a significant level.
The global solid electrolyte market is segmented into type and application.
? Solid Polymer
The ceramic segment is projected to cross the mark of USD 10 million by 2025. Based on ceramic segment, the lithium sub-segment held the highest growth rate among the segments. On the other hand, the solid polymer segment is estimated to hold an opportunity of more than USD 15 million during 2022 to 2030.
? Thin-Film Battery
o Renewable Energy Storage Devices
o Smart Cards
o Radio Frequency Identification (RFID) Tags
o Portable Electronics
o Wireless Sensors
? Electric Vehicle Battery
The thin film battery segment is estimated to cross the mark of USD 20 million revenue by 2030. Moreover, the electric vehicle battery segment is likely to holds an opportunity of more than USD 15 million during 2022 to 2030.
By region, the global solid electrolyte market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America.
The North American industry for solid electrolyte held the largest market share of more than 35% in 2021 owing to the rising initiatives by the prominent players operating in the market. On the other hand, the Asia Pacific industry for solid electrolyte is expected to be the fastest growing market with a growth rate of around 12.04% over the anticipated period.
The prominent players operating in the global solid electrolyte market include Ampcera Corp., Brightvolt, Inc., Cymbet Corporation, Empower Materials, lonic Materials Inc., NEI Corporation, Ohara lnc., StmicroElectronics N.V., Toshima Manufacturing Co. Ltd., Toyota Motor Corporation, and many others.
Such market players are investing in collaborations, product launches, mergers, acquisitions, expansions, in order to produce a competitive edge against their counterparts. For instance, in July 2021, Ampcera announced its Phase I Small Business Innovative Research (SBIR) grant from the U.S. Department of Energy (DOE) Vehicle Technologies Office for the development of a lithium dendrite suppressing solid-state electrolyte membrane for lithium metal batteries using a high-throughput scaled manufacturing approach.
The global solid electrolyte market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global solid electrolyte market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing of solid electrolyte
? Manufacturing Cost Analysis: Cost-share of various components in solid electrolyte tools
The global solid electrolyte market report answers questions such as:
? What is the market size and forecast of the global solid electrolyte market?
? What are the inhibiting factors and impact of COVID-19 on the global solid electrolyte market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global solid electrolyte market?
? What is the competitive strategic window for opportunities in the global solid electrolyte market?
? What are the technology trends and regulatory frameworks in the global solid electrolyte market?
? What is the market share of the leading players in the global solid electrolyte market?
? What modes and strategic moves are considered favorable for entering the global solid electrolyte market?