Lithium Silicon Battery Market Size is expected to reach USD 247 million by 2030 | CAGR of 48.4%
Chicago, Sept. 18, 2023 (GLOBE NEWSWIRE) — The Lithium Silicon Battery Market Size by Material, Technology, Capacity (<3,000 mAh, 3,000–10,000 mAh, >10,000 mAh), Application (Consumer Electronics, Automotive, Aerospace & Defense, Medical Devices, Energy) and Region – Global Forecast to 2030. The lithium silicon battery Market size such as Amprius Technologies (US), Enovix Corporation (US), NanoGraf Corporation (US), Enevate Corporation (US), Sila Nanotechnologies, Inc. (US), and Group14 Technologies, Inc. (US) are among a few key players in the lithium silicon battery market.
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Market Dynamics Lithium Silicon Battery Market Size
DRIVERS: Enhanced energy density of lithium silicon batteries
Lithium-ion batteries with graphite anodes are highly efficient and used in various applications, from small consumer electronics to large grid energy storage systems. Its high usage in anodes has ensured strong global demand for graphite; however, battery manufacturers have faced supply delays as the world is dependent on China for graphite. Researchers have predicted a huge demand-supply gap for graphite in the coming years. Furthermore, despite its efficiency, graphite does not provide energy rapidly or allow compact, high-capacity applications; this has driven attention toward alternatives such as silicon.
RESTRAINTS: Expansion property of silicon and potential for damage to battery
Lithium-ion batteries have proven their cost-effectiveness and performance in several applications such as consumer electronics, energy storage systems, and electric vehicles. While research has helped improve their performance, these batteries cannot hold a charge for long periods, restricting their use in long-distance fully electric vehicles. To overcome the energy capacity problem, research has moved to better-performing silicon materials to improve the capacity and battery density. However, silicon comes with the issue of material expansion. It can swell up to 300% of its normal size when fully charged, which could break the electrode’s outer filming.
OPPORTUNITIES: Fast-growing demand for EVs
EVs use lithium-ion batteries to extract power; these batteries are popularly used in the automotive sector. The widespread use of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) has boosted the adoption of lithium-ion batteries, which is expected to increase further in the future. The market for EVs for transportation is rapidly evolving due to their energy-saving, pollution-reducing nature.
CHALLENGES: Expensive and complex production process
Manufacturing silicon anodes or silicon materials requires very high-end equipment; silicon cell fabrication costs are also very high. The development process of silicon material involves very high complexities that can modify raw silicon material. The modifications that make it reliable involve complicated processes to ensure that silicon expansion does not damage the battery. The choice of raw material is also a major factor affecting the final cost. In addition, several nanostructures and morphologies involve extensive and rather costly production steps, which makes them impractical for large-scale industrial production.
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Amprius Technologies (US), Enovix Corporation (US) and NanoGraf Corporation (US) are the Top Players in the Lithium Silicon Battery Market Size
Amprius Technologies is a leading US-based manufacturer of lithium silicon batteries. It developed a nanowire technology that uses 100% silicon to replace graphite in anodes. The company caters to the aerospace, automotive, and consumer electronics sectors. It offers batteries for drones, aircraft, wearables, electric vehicles, smartphones, robotics, aerospace vehicles, and military equipment.
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Enovix Corporation is a developer and manufacturer of advanced silicon-anode lithium-ion batteries. The company has developed 100% silicon anodes and innovative 3D cell architecture for high energy density and performance. The company is developing new silicon-lithium technology and has sampled small silicon lithium cells that can be used in portable consumer electronics devices. It also focuses on R&D for large-density and large-sized batteries for EVs and storage systems. In July 2020, it was selected to conduct advanced R&D on Li-ion batteries with silicon anodes for EV applications by the US Department of Energy. The company plans to increase the applications of its silicon lithium batteries in wearable devices, mobile communication devices, computing, AR/VR, and EVs. The company has secured designs for batteries in these applications from top players. Moreover, it is one of the earliest companies to launch lithium silicon cells for wearable devices in the consumer electronics sector.
Lithium-ion Battery Market Size by Type (NMC, LFP, LCO, LTO, LMO, NCA), Capacity (Below 3,000 mAh, 3,001 mAh–10,000 mAh, 10,001 mAh–60,000 mAh, Above 60,000 mAh), Voltage (Below 12V, 12V–36V, Above 36V), Application and Region – Global Forecast to 2032
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