Report Ocean published a new report on the solid electrolyte market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outlines a strategy adopted by companies during 2021 to 2027.
The solid electrolyte market size was valued at ~$17.5 million in 2020. The market is anticipated to grow at a CAGR of 12% during the forecast timeframe from 2021 to 2027.
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Solid-state batteries are made up of solid electrodes and solid electrolytes. The solid electrodes found in the batteries are more reliable than the lithium-ion or lithium-polymer batteries. The lithium-ion or lithium-polymer batteries are made up of liquid or polymer electrolytes that have various working disadvantages. This upgraded technology alternative is one of the most adopted alternatives to the old lithium-ion battery technology. Solid-state batteries are smaller, and lighter which is a great advantage for the electric vehicle industry. Lithium-ion batteries are susceptible to high temperatures that raise safety concerns among drivers and passengers. The advent of solid-state batteries will make electric cars more adaptable by reducing the risk of high temperatures.
The increasing need for energy storage methods and long-life batteries will lead to the growth of the market.
Growing investments from renowned companies like Samsung and Hyundai will enhance the market expansion during the forecast period.
An increment in the use of electronic vehicles will ultimately drive the growth of solid electrolytes and solid-state batteries in the future.
The evolving solid-state battery applications and their advanced offerings in the health, drone, and portable sectors is the principal factor, soaring global solid electrolyte market growth.
The market growth might get slower, owing to the intricate production process and the high expenses for solid-state batteries.
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Impact Of COVID-19 on the Market
COVID-19 is an infectious disease, impacting the growth of the nations since 2019. Numerous countries tried to stop the infection by imposing strict lockdowns in the country. The authorities had to ban travel and trade to control the pandemic situation.
The use of electric vehicles like e-rickshaws, e-bikes, e-cars drive most of the market growth. The pandemic halted the entire operation of industries. Meanwhile, the restriction on cross-border trade activities drove the market to decline further.
The electronic vehicles market and water electrolysis market suffered a moderate swing in growth. It affected the overall solid electrolyte market, owing to the slump in demand and a decline in sales.
The market is expected to recover in the next couple of years once the situation is eased. It is expected to witness substantial growth in North America and Asia-Pacific.
Regional Analysis
North America holds dominance in the market and expected to maintain the lead in future. North America is expected to capture most of the share during the forecast time frame. North America is expected to witness the rising use of solid-state batteries, owing to the wider adoption of solid-state batteries used in electric vehicles and other technologies.
Key Market Segments
By Type
Ceramic
Solid Polymer
By Application
Thin-Film Battery
Electric Vehicle Battery
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key Players
Ampcera Corp
.Brightvolt, Inc
Cymbet Corporation
Empower Materials
Lonic Materials Inc.
Nei Corporation
Ohara Lnc.
Stmicroelectronics N.V.
Toshima Manufacturing Co. Ltd.
Toshima Manufacturing Co. Ltd
Other prominent players
Aim of the Report
This study aims to determine the market size of various segments and countries with forecast values for next ten years.
Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
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