Solid Electrolyte Market

Solid Electrolyte Market Sizes by Solution by Type (Ceramic and Solid Polymer), By Application (Thin-Film Battery and Electric Vehicle Battery), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14580
  • Published Date: Nov, 2024
  • Pages: 239
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global solid electrolyte market was valued at USD 2.1 Billion in 2023 and is anticipated to grow at a CAGR of 14.7% from 2024 to 2033. The growth of the solid electrolyte market is largely fueled by the rising demand for high-performance batteries, especially in electric vehicles and portable electronic devices. As industries aim to enhance safety and energy efficiency, solid-state batteries present a significant advantage over traditional lithium-ion options due to their reduced flammability risks and improved energy density. This transition is further pushed forward by an increasing focus on sustainable energy solutions, encouraging manufacturers to invest in advanced solid electrolyte technologies that comply with stringent environmental regulations while meeting consumer desires for more dependable energy storage systems. Advances in material science and nanotechnology enable the creation of new solid electrolyte materials, broadening their potential applications across various sectors.

Market Introduction:

Solid electrolytes, unique in their ability to conduct ions while remaining solid under operational conditions, are gaining significant attention. Unlike liquid or gel electrolytes, which rely on dissolved ions in a solvent, solid electrolytes promote ionic conductivity through their crystal lattice structures. This distinct feature makes them suitable for use in various electrochemical applications such as batteries, fuel cells, and supercapacitors. However, their potential to significantly enhance energy storage devices' safety, performance, and longevity drives the current development within the global solid electrolyte market. The fundamental feature of solid electrolytes is their capacity to transport ions without allowing electrons to flow, a vital function for electrochemical cells. Ionic conductivity in these materials usually happens through vacancy migration, interstitial diffusion, or hopping mechanisms. These methods are influenced by the electrolyte's structure, temperature conditions, and the type of ionic species involved. Efficient ionic conduction is essential as it directly impacts the effectiveness of energy storage and conversion devices. Recently, there has been a growing interest in alternative materials like sulfide and polymer-based electrolytes to enhance performance metrics and manufacturing processes. This move towards diverse material options highlights the industry's adaptability to changing technological landscapes and consumer demands. With the race for battery advancement heating up, the solid electrolyte market will experience substantial growth, driven by ongoing innovation and a dedication to sustainable energy solutions.

Solid Electrolyte Market Size

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Recent Development
  • In April 2022: Ganfeng Lithium has commenced the construction of a solid-state battery production facility. Upon completion, the Chongqing factory will provide an annual capacity of 10 GWh for battery cell and pack production.        

Market Dynamics:

Drivers

Growing Demand for Safer Energy Storage Solutions - Concerns about the safety of traditional lithium-ion batteries have increased due to the flammable and volatile nature of liquid electrolytes. These electrolytes usually made up of organic solvents, can undergo thermal runaway reactions, leading to dangerous situations such as overheating, leaks, or even explosions. This risk is especially considerable in applications where battery failures, such as electric vehicles (EVs), aviation, and defense sectors, could have serious consequences. In contrast, solid electrolytes are non-flammable and can function safely across a wide temperature range. Their inherent safety advantages drive market interest since manufacturers and users aim to reduce risks while boosting performance levels. Solid electrolytes promise increased security by eliminating liquid components from their design—which supports their use in critical applications requiring high safety standards—and spurs further market expansion. This factor is stimulating the market growth and development.

Restraints:

High Manufacturing/Production Costs – High production cost is the main restraining factor in the global solid electrolyte market. The production processes/methods for these electrolytes, especially those using advanced materials like sulfides and oxides, frequently demand specialized equipment and techniques. As a result, these methods can incur much higher costs than conventional liquid electrolyte batteries. Additionally, substantial capital investment required for research, development initiatives, and establishing production facilities may discourage small companies from entering this industry and hamper the commercialization pace of solid-state technologies. Moreover, obtaining necessary materials/resources for mass production poses another challenge due to their high expense and sourcing difficulties, which pose a significant barrier, particularly in markets where price sensitivity is critical. This factor is limiting the market growth.

Opportunities:

Rise in Production & Adoption of Electric Vehicles - The shift towards electric vehicles (EVs) is significantly driving the growth of the global solid electrolyte market. Government rules/regulations, initiatives, and incentives to reduce carbon emissions are speeding up electric vehicle adoption and creating a demand for advanced battery technologies prioritizing safety, efficiency, and longevity. Solid electrolytes enable solid-state batteries, which are increasingly considered the next-generation solution for electric vehicles due to their enhanced safety features and higher energy density than traditional lithium-ion batteries. Automotive manufacturers like Toyota, BMW, and Volkswagen are investing substantially in solid-state battery technology. Additionally, numerous partnerships between automakers and battery developers aim to quicken the development and commercialization of these innovative batteries. Consequently, the solid electrolyte market is poised for growth alongside the rapid increase in electric vehicle production and adoption across developed and developing nations. This factor is anticipated to provide lucrative growth opportunities in the upcoming years.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region emerged as the most dominant within the global solid electrolyte market, with a 36.0% market revenue share in 2023. North America is projected to hold the largest market share during the forecast period. The regional market growth and development are mainly driven by increasing demand for high-performance energy storage solutions. The region's focus on renewable energy, electric vehicles, and portable consumer electronics is boosting the adoption of solid electrolytes, which offer enhanced safety, energy density, and longevity. Moreover, the strong research and development infrastructure and significant investments in clean and sustainable energy are anticipated to accelerate technology and innovation, further driving regional market expansion.

Focusing on renewable energy sources, Canada has made a major contribution to the regional market growth and development. Growing investments in advanced battery technologies, such as solid-state batteries, have risen due to the nation’s efforts to support renewable energy sources and minimize the dependency on non-renewable resources. The North American Free Trade Agreement (NAFTA) has facilitated cross-border collaborations and investments in the energy storage sector, leading to development in Mexico. As a result, solid electrolytes are widely used across various applications, including consumer electronics, medical equipment, and renewable energy systems. North American solid electrolyte market may face challenges in scaling up production for cost-effective manufacturing processes to maintain the current demands. The regional market players also engage in various market strategies such as product innovation, product differentiation, mergers, acquisitions, partnerships, and strategic alliances to maintain their competitive edge.

North America Region Solid Electrolyte Market Share in 2023 - 36.0%

 

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  • In April 2022: The University of Houston has developed an electrolyte that enables reversible sodium plating. This electrolyte is viable for producing sodium-ion-based batteries commercially and on a larger scale. It allows for reversible sodium plating and stripping at a higher current density.
Type Segment Analysis

The type segment includes ceramic and solid polymer. The ceramic segment dominated, with a market share of around 55% in 2023. Ceramic solid electrolytes provide high ionic conductivity, which is necessary for effective ion conduction within the battery and better overall performance. Ceramics also possess strong mechanical attributes and demonstrate stability at higher temperatures, contributing to the batteries' longevity and safety. Because of these characteristics, ceramic solid electrolytes are in high demand for electric cars and other high-stress applications/use-cases where dependability and security are crucial.

Application Segment Analysis

The application segment includes thin-film battery and electric vehicle battery. The thin-film relationship management segment dominated, with a market share of around 60% in 2023. Solid electrolyte-powered thin-film batteries are quickly gaining traction across various industries. Their versatility, compact size, and suitability for specialized applications make them indispensable. These batteries are utilized in smart cards, wearable tech (smart watches), medical implants, and other portable devices. Due to solid electrolytes, thin-film batteries enhance safety and longevity and open the door to creative designs for gadgets requiring a lightweight and efficient power source. Embracing this technology means stepping into a future where performance meets practicality.

Some of the Key Market Players:
  • LG Chem
  • Blue Solutions SA
  • Toyota Industries Corporation
  • Cymbet Corporation
  • Solid Power
  • QuantumScape Corporation
  • Ilika plc
  • Excellatron Solid State, LLC
  • Panasonic Corporation
  • BrightVolt
  • Samsung SDI
  • ProLogium Technology

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 2.1 Billion
Market size value in 2033 USD 8.28 Billion
CAGR (2024 to 2033) 14.7%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Type and Application  

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global solid electrolyte market was valued at USD 2.1 billion in 2023 to USD 8.28 billion by 2033.

The global solid electrolyte market is growing at a CAGR of 14.7% during the forecast period 2024-2033.

North America region became the largest market for solid electrolyte.

The rising production and adoption of electric vehicles is driving the market's growth.

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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Solid Electrolyte market based on below-mentioned segments:

Global Solid Electrolyte Market by Type:

  • Ceramic
  • Solid Polymer

Global Solid Electrolyte Market by Application:

  • Thin-film Battery
  • Automotive Battery

Global Solid Electrolyte Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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