Silicon Anode Battery Market Trends and Challenges

Posted by Pradnya on July 31st, 2019

Persistence Market Research delivers key insights on the silicon anode battery market in its latest report titled “Silicon Anode Battery Market: Global Industry Analysis and Forecast, 2016–2024”. 

The global silicon anode battery market is estimated to be valued at US$ 101.9 Mn by the end of 2016 and is expected to be valued at US$ 484.9 Mn by the end of 2024, registering a CAGR of 21.5% over the forecast period. North America is estimated to account for a market value share of 35.4% in the global silicon anode battery market by 2016 end, and is anticipated to remain dominant throughout the forecast period.

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Market dynamics

Environmental regulations pertaining to CO₂ emissions are expected to boost the use of alternative modes of transport in the transportation sector. Thus, electric vehicles are a good alternative for the reduction of CO₂ emissions. Government promotion for adoption of electric vehicles and incentives regarding low emission of CO₂ is expected to increase electric vehicles sales over the forecast period. Therefore, demand of next generation batteries such as silicon anode is expected to increase over the forecast period. Moreover, high performance of silicon as an anode material is expected to increase its consumption in smartphone batteries over the forecast period.

However, silicon has a property of soaking large amount of lithium-ions. Therefore, 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 battery. This in turn, is expected to be a major challenge to the growth of the global silicon anode battery market.