Market Size of Solid Electrolyte Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 15.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Solid Electrolyte Market Analysis
The solid electrolyte market is expected to witness a CAGR of around 15% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, factors such as the increasing demand for an energy storage system with high energy density and longer cycle life are likely to drive the market. Increasing uses of electronic devices and electric vehicles are expected to increase the use of solid-state batteries and solid electrolytes in the coming years.
- On another note, the high cost of a solid-state battery is likely to hinder the solid electrolyte market during the forecast period.
- Electric vehicles (EVs) are expected to account for nearly 10-12% of total vehicle sales by 2030. Multiple factors, such as government regulations in various regions of the world and technological developments in batteries, are likely to boost the EV market. Moreover, as per industry experts, existing lithium-ion battery technology used in electric vehicles is expected to maintain a high price in the upcoming years. Additionally, drawbacks such as lower energy density and limited safety features of a lithium-ion battery are likely to create an opportunity for the markets like solid-state batteries and solid electrolytes in the near future.
- Asia-Pacific is expected to dominate the market, with most of the solid electrolyte demand coming from countries like China and India.
Solid Electrolyte Industry Segmentation
A solid-state electrolyte (SSE) is a solid ionic conductor and electron-insulating material, and it is the characteristic component of the solid-state battery. It is useful for applications in electrical energy storage (EES) in substitution of the liquid electrolytes found in particular in a lithium-ion battery. The Solid Electrolyte Market report is segmented by type and application. By type, the market is segmented into ceramic and solid polymer. By application, the market is segmented into thin-film batteries and electric vehicle batteries. The report also covers the market size and forecasts for the solid electrolyte market across major regions or countries. The report offers the market size and forecasts in revenue (USD million) for all the above segments.
| Type | |
| Ceramic | |
| Solid Polymer |
| Application | |
| Thin-Film Battery | |
| Electric Vehicle Battery |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Solid Electrolyte Market Size Summary
The solid electrolyte market is poised for significant growth, driven by the increasing demand for energy storage systems that offer high energy density and longer cycle life. The market is recovering from the setbacks caused by the COVID-19 pandemic and is now operating at pre-pandemic levels. The rising adoption of electronic devices and electric vehicles is expected to boost the use of solid-state batteries and solid electrolytes. However, the high cost of solid-state batteries may pose a challenge to market expansion. The electric vehicle sector, supported by government regulations and technological advancements, is anticipated to contribute substantially to the market's growth. Despite the dominance of lithium-ion batteries, their limitations in energy density and safety features present opportunities for solid-state batteries and electrolytes.
The Asia-Pacific region is expected to lead the solid electrolyte market, with China and India playing pivotal roles due to their large populations and growing electric vehicle markets. The region's high trade value and population density contribute to the increased demand for solid-state batteries in applications such as RFID tags and cardiac pacemakers. Recent developments, such as the progress in sodium-ion-based solid electrolytes and the construction of solid-state battery production facilities, further underscore the region's potential. Key players in the market, including NEI Corporation and Ohara Inc., are actively involved in advancing solid electrolyte technologies. These factors collectively suggest a robust growth trajectory for the solid electrolyte market in the coming years.
Solid Electrolyte Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD million, untill 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Ceramic
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2.1.2 Solid Polymer
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2.2 Application
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2.2.1 Thin-Film Battery
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2.2.2 Electric Vehicle Battery
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle-East and Africa
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Solid Electrolyte Market Size FAQs
What is the current Solid Electrolyte Market size?
The Solid Electrolyte Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)
Who are the key players in Solid Electrolyte Market?
NEI Corporation, Ohara Inc, Empower Materials, Ampcera Corp and Iconic Material Inc. are the major companies operating in the Solid Electrolyte Market.
