Solid Electrolyte Market to Witness Robust Expansion throughout the Forecast Period 2021 - 2030

The solid electrolyte market is expected to grow at a rapid pace in North America during the projected period. The rapid growth of the electric vehicle market has driven the development, manufacture, and sales of batteries, especially electric vehicle battery. This can be attributed to the growth of the solid electrolyte market in the region.

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Solid electrolytes are safer, more stable, and have higher energy densities as compared to conventional Li-ion batteries with liquid electrolytes. They are used in a wide range of applications, including consumer electronics, electric vehicles, energy harvesting, medical devices, smart cards, and wireless communication. The global market has been analyzed based on revenue generated from the sales of commercialized solid-state batteries.

The increase in the application of solid-state batteries in the healthcare, wearable, and drone sectors is one of the major factors responsible for the growth of the global solid-state batteries market. In addition, the surge in the need for solid-state batteries in electric vehicles plays an important role in escalating market growth.

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The solid electrolyte market analysis has been done on the basis of application, type, and region. By type, the solid electrolyte market is divided into a ceramic and solid polymer. Solid polymer electrolyte (SPE) has a tremendous advantage over other technologies since the polymeric backbone of SPE offers the mechanical flexibility needed for such batteries. This drives the growth during the solid electrolyte market forecast period.

Based on application, the solid electrolyte market is divided into thin-film batteries and electric vehicle batteries. Multiple factors, such as government regulations in various regions of the world and technology developments in batteries, are expected to boost the EV market. This acts as the major driving factor for the global solid electrolyte market during the forecast period.

By region, North America is expected to dominate the market, with most of the solid electrolyte demand coming from the U.S. and Canada.

The major companies profiled in this report include Ampcera Corp, Brightvolt, Inc., Cymbet Corporation, Empower Materials, lonic Materials Inc., NEI Corporation, Ohara lnc., StmicroElectronics N.V., Toshima Manufacturing Co. Ltd., and Toyota Motor Corporation

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Key findings of the study

• By region, the North American solid electrolyte market is projected to grow at the highest CAGR of nearly 12.7%, in terms of revenue, during the forecast period.
• By type, the solid polymer segment accounted for the largest solid electrolyte market share in 2020.
• By application, the electric vehicle battery segment garnered the largest market share in 2020.

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