Lithium Silicon Battery | Contrive Datum Insights

The global lithium silicon battery market size is estimated to grow from USD 10 Million in 2022 to USD 247 Million by 2030, at a CAGR of 48.4% from 2023 to 2030.

Lithium Silicon Battery Market Overview:

As the population grew and the standard of living improved, so did the human need for power. Many clean and renewable energy sources are intermittent and energy supply may not match energy demand. Therefore, a storage device is needed so that the energy can be stored for later use when needed. Some equipment uses battery systems for backup power and portable power supplies.

Over the past 20 years, the introduction of lithium-ion batteries (LIBs) has revolutionized the use of portable devices, electronic equipment and vehicles. LIBs have great potential to have a tremendous impact on improving human comfort. Despite its enormous potential, LIB is unable to meet current requirements.

Silicon is one of the promising anode materials for next-generation LIBs. Silicon-based anodes have more than 10 times greater energy capacity than graphite-based anodes. Silicon has a significantly higher capacity (~4200 mAhg-1 for Li4.4Si) than conventional graphite anodes (~372 mAhg-1), low operating potential, high abundance and environmental friendliness. Silicon-based anodes have not yet been fully commercialized.

Lithium Silicon Battery Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Lithium Silicon Battery Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In July 2019, India reduced the Goods and Services Tax (GST) on electric vehicles and chargers to 5% respectively from the previous GST of 12% and 18%. Local authorities in India are also exempt from GST for the hire of electric buses with 12 or more seats.
• In May 2019, Western Farmers Electric Cooperative entered into a Power Purchase Agreement (PPA) with NextEra Energy Resources to combine wind, solar and energy storage projects. The PPA includes a 200 MW, 4-hour battery storage project and is scheduled to begin operation by the end of 2023.
• In October 2018, Huawei Consumer Business Group unveiled the industry's first patented lithium-silicon battery. This patented technology is likely to be used in upcoming Huawei smartphones.

Major Market Segments Covered in Lithium Silicon Battery Market Industry Research:

Market Key Players:
Huawei Consumer Business Group, Sony, Targray, XNRGI, Sila Nanotechnologies, ENOVIX Corporation, Enevate Corporation, Global Graphene Group, EoCell, Inc., NEXEON LTD., Albemarle Corporation, Paraclete Energy, 3M, VARTA Microbattery, And Others.

By Type:

• Below 1500 mAH
• Between 1500-2500 mAH
• Above 2500 mAH
• Other

By Material:

• Micronized silicon-carbon powder 
• SILA Silicon Anode material
• Porous silicon anodes
• Nano-Porous Silicon
• SiFAB
• Other

By Application:

• Consumer Electronics
• Automotive
• Industrial
• Grid & Renewable Energy
• Other

By Region:

North America and Europe are expected to dominate the lithium silicon battery market. North America and Europe spend significant sums to promote research and development activities. The next breakthrough in lithium-silicon batteries will be made in university laboratories and research centers in Europe and North America. China, Australia, and Japan are also paying attention to next-generation cutting-edge technologies such as lithium silicon batteries. Several existing lithium ion battery (LIB) manufacturers are in the R&D stage of lithium silicon batteries. Several venture capitalists are funding start-ups to manufacture commercially viable silicon anodes.

Significant Market Dynamics:

DRIVERS:

Lithium-ion batteries with graphite anodes are highly efficient and are used in applications ranging from small consumer electronics to large grid energy storage systems. High usage at anodes has ensured strong global demand for graphite. But as the world relies on China for graphite, battery manufacturers are facing supply delays. Researchers have predicted a huge supply-demand gap for graphite over the next few years. And despite its efficiency, graphite doesn't deliver energy quickly or allow for small, high-capacity applications. This has sparked interest in alternatives such as silicon.

Adding silicon to the anode can boost the battery's energy density along with its capacity. Replacing silicon with graphite as the base material increases the ion absorption capacity because each silicon atom can accommodate up to four lithium ions. In comparison, only one of the six carbon atoms in a graphite anode is taken. Because silicon anodes have a higher energy density than other metal anodes, they can potentially drastically change lithium-ion batteries. It can hold about 10 times as many electrons as graphite, leading to lithium-ion batteries with 20-40% higher energy density.

RESTRAINTS:

Lithium-ion batteries have proven cost-effectiveness and performance in many applications such as consumer electronics, energy storage systems and electric vehicles. Although research has helped improve performance, these batteries cannot hold a charge for long periods of time, limiting their use in long-range all-electric vehicles. To overcome the energy capacity problem, research has been conducted with better performing silicon materials to improve capacity and battery density. However, silicone has material swelling issues. When fully charged, it can expand to 300% of its normal size, which can break the electrode's outer film. Swelling of the silicone can cause permanent structural damage to the battery, especially during the first charge cycle. The current study suggests that it is safe and reliable to increase the energy density by adding a small amount of silicon to the graphite electrode. However, more research is needed before sufficient safety can be assured.

OPPORTUNITIES:

EVs use lithium-ion batteries to extract power. These batteries are widely used in the automotive sector. The widespread use of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) has increased the adoption of lithium-ion batteries and is expected to increase further in the future. The transportation EV market is developing rapidly due to its energy-saving, pollution-reducing properties. Many automakers have already launched EV models. For example, Tesla Motors, Inc. (US) has already gained a fair share of the market and has become one of the leading manufacturers of high-performance EVs.

Other automakers such as Toyota Motor Corporation (Japan), Hyundai Motor Company (South Korea) and Ford Motor Company (USA) are also involved in EV production. According to the International Energy Agency (IEA), adoption of electric vehicles in 10 years is expected to increase by nearly 30% of the current scenario.

CHALLENGES:

Manufacturing silicon anodes or silicon materials requires very advanced equipment. Silicon cell manufacturing costs are also very high. The development process of silicon materials involves very complex operations that can modify raw silicon materials. Modifications to make it reliable include complex processes to ensure that the silicon expansion does not damage the battery. Raw material selection is also a major factor influencing the final cost. Additionally, several nanostructures and morphologies involve extensive and costly production steps, making them impractical for large-scale industrial production. Therefore, it is difficult for battery manufacturers to obtain high-efficiency electrodes at low cost. Therefore, to make silicon anodes cost-effective compared to graphite anodes, production costs must be reduced.

Lithium Silicon Battery Market report scope:

Crucial Points from this Lithium Silicon Battery Market Report

• Estimate Lithium Silicon Battery Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Lithium Silicon Battery Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.