Next-Generation Anode Material — Driving the Growth of Next-Generation Batteries
From mobile phones and laptops to electric vehicles, transport and consumer electronics, lithium-ion (Li-ion) batteries have emerged as the battery of choice for each of these applications. Owing to the excellent efficiency that Li-ion batteries offer in terms of durability and rechargeability, the market for Li-ion batteries has attracted investments from several notable companies. Additionally, research and development activities have also played a key role in the expansion of the market for Li-ion batteries.
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However, changing consumer preferences along with certain shortcomings of the conventional Li-ion batteries are the key factors which have propelled the need to introduce technological advancements in the existing Li-ion battery systems. One such recent advancement in the industry is the introduction of next-generation anode material.
At present, there are four major next-generation anode material, which have garnered the attention of several technology giants and hold the potential to enhance the efficiency and performance of Li-ion batteries. These include silicon/silicon oxide blend, silicon-graphene, silicon-carbon composite, and lithium titanium oxide (LTO).
Each of the aforementioned next-generation anode material has its own characteristic features and advantages. The latest market intelligence report published by BIS Research titled “Global Next-Generation Anode Materials Market- Analysis and Forecast (2019–2029),” provides key insights about the expected growth of the global next-generation anode materials market and the respective markets for each of the mentioned next-generation anode materials.
Global Next-Generation Anode Materials Market Snapshot
According to BIS Research analysis, the global market for next-generation anode materials was valued at $1.13 billion in 2018 and is projected to register a compound annual growth rate of 16.96% during the forecast period 2019–2029. Furthermore, the market potential for next-generation anode materials is estimated to reach $6.28 billion by 2029.
The published report discusses the next-generation anode materials market on the basis of material type. Further, each material type is discussed on the basis of its respective applications. For instance, for the silicon/silicon oxide blend anode materials, transportation as an application segment dominated the market in 2018 and is projected to maintain its dominance during the forecast period as well as in 2029. Other application areas of silicon/silicon oxide blend anode materials include electrical and electronics and energy storage.
Another next-generation anode material, lithium titanium oxide (LTO) is also used majorly in transportation. The material offers high cyclability, power density, and usability. Apart from transportation, the use of LTOs is also increasing rapidly for energy storage systems. Energy storage as an application segment is expected to generate the largest revenue in 2029, followed by the transportation segment.
Geographically, North America, Asia-Pacific (APAC), Europe, and Rest-of-the-World are the key regions for which the report analyzes the growth of the global next-generation anode materials market. In 2018, APAC dominated the market by acquiring the principal share of the market revenue, followed by North America and then by Europe.
A section of the study also discusses the company profiles of the leading players investing in the next-generation anode materials market. Some of the prominent ones include LeydenJar Technologies BV, Amprius, Inc., and NanoGraf Corporation.