Zinc-Air Battery Market Size Was USD 117.5 Million In 2020 Projected To Grow From USD 125.4 Million In 2021 To USD 105.6 Million In 2028

The global zinc-air battery market size was USD 117.5 million in 2020. The market is projected to grow from USD 125.4 million in 2021 to USD 105.6 million in 2028 at a CAGR of 7.8% during the 2021-2028 period.
Zinc-air batteries use oxygen from the air as the cathode and an anode consisting primarily of zinc and an alkaline electrolyte. Zinc-air batteries use oxygen in the air directly to produce electrochemical energy. Oxygen becomes the cathode reactant and diffuses directly into the battery. Air cathodes use an aqueous alkaline electrolyte to catalytically promote the oxygen reaction, but are not consumed or converted during discharge. The cathode is compact, has an almost unlimited capacity, and achieves high energy density due to the additional volume of the zinc anode.

Zinc air batteries are best known for primary applications such as button cells for hearing aids and bulk batteries for industrial applications such as electric fences and rail power supplies. Advantages of zinc-air batteries include flat discharge voltage, safety and environmental benefits, excellent shelf life, and low cost. In addition, zinc-air batteries have a high volumetric energy density compared to most primary batteries. The high energy density of zinc air batteries makes them suitable for portable applications such as electric vehicles and potentially smaller devices such as laptops, allowing commercialization to begin in these markets. Furthermore, the most intensive use of zinc air batteries is in medical and communication applications. Zinc air batteries are the primary power source for today's miniature hearing aids. In hospitals, a 9V zinc battery powers a heart rate monitor. Recently, coin-shaped zinc air batteries have been used in Bluetooth headphones with low-power digital wireless protocols.

Various research and development activities are underway around the world for the use of zinc-air batteries in energy storage systems and electric vehicles. For example, Canadian battery manufacturer Zinc8 Energy Solutions is working on an energy storage system made from zinc-air batteries. Furthermore, the production cost of zinc-air batteries is low compared to other batteries such as lithium-ion batteries and lead-acid batteries, which has led manufacturers to focus on this type of battery. In addition, the high energy density, high specific power and high voltage of these batteries are some of the key factors that create revenue opportunities for manufacturers. Various companies individually work with research and development institutes to further develop the properties of batteries and bring optimal products to market on a large scale. For instance, scientists at the Institute of Nanoscience and Technology (Mohali), India, an autonomous agency of the Department of Science and Technology (DST), have developed efficient bifunctional electrocatalysts with sufficient active specific metal moieties, which indicates impressive oxygen electrocatalytic performance. This material can be further used as a cathode catalyst to influence the high performance of both liquid and solid rechargeable zinc-air batteries.

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However, demand for zinc air batteries is severely hampered by the presence of mercury in zinc, which is considered harmful to health. Also, the availability of other substitute such as lithium-ion batteries, which are power efficient and have a longer life span may restrain the zinc air batteries market growth.

Application Insights
By application segment, the market is divided into hearing aids, military equipment, security lamps, and others. Hearing aids dominate the market due to the widespread use of these batteries in small devices. Furthermore, the growing demand for energy storage favours the use of zinc-air batteries due to their properties such as high energy density. These batteries have various enhanced properties compared to Lithium-ion batteries such as energy density which is environmentally friendly and cheaper than Li-ion batteries. For instance, in April 2021, Phinergy signed an MoU with green energy company Doral for an energy storage project. The company is responsible for training, replacement, installation and operation of zinc-air technology at the Doral power plant.

Regional Insights
Asia-Pacific dominates the zinc-air battery market share throughout the forecast period. Japan and China are the world's largest markets for electric vehicles. The introduction of these batteries into electric vehicles presents a promising opportunity for the market growth. Zinc-air battery has a high volumetric energy density and a high specific energy, making it safe and less hazardous. Asia Pacific is an important market as it is considered the manufacturing center for most of the world's electronics.

Furthermore, in Europe, growing interest of government agencies in greenhouse gas emissions will drive the regional market. Several countries, such as France, Argentina and Germany, have set goals to become zero carbon by 2050, encouraging experimentation with zinc-air batteries in those countries. In addition, several projects have been launched to develop next-generation automotive batteries, such as NECOBAUT.

Key Companies Insights
New product launches, market expansions, and partnerships are strategic approaches favoured by most companies in the zinc air batteries business. Duracell, Ravoyac, Varta AG, and GP Batteries are market leaders with well-established supply chains for their product distribution. Furthermore, increasing efforts by major players to improve battery characteristics are expected to create lucrative growth opportunities for the market. For example, in September 2020, Ashok Leyland (India) and Hindustan Zinc Limited (India) collaborated with IIT-Madras to develop a zinc-air battery. Some of the key players operating in the global zinc air batteries market include:
• Berkshire Hathaway
• Duracell Inc.
• Energizer Holdings Inc.
• GP Batteries International Ltd.
• Panasonic Energy Europe NV
• Renata SA
• Sony Electronics Inc.
• Spectrum Brands Inc.
• VARTA Microbattery GmbH.
• Konnoc
• Rayovac (Spectrum)
• Other Players

Segments
By Type
• Primary Type
• Secondary Type

By Voltage Type
• Up to 12 V
• 12 V to 36 V
• More than 36 V

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By Application
• Hearing Aids
• Alarm System battery
• Electric Fencing
• Energy Storage
o Backup Power
o On-grid Integration with Renewable
o Off-grid Energy Storage
• IoT Wearables
• LED Lamps
• Military
• Railway & Road Traffic Signaling
• Other Applications

Global Zinc Air Batteries Market: Regional Analysis
The countries covered in the regional analysis of the Global Zinc Air Batteries market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
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• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Objectives of the Study:
• To provide with an exhaustive analysis on the Zinc Air Batteries Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions

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