Solid Electrolytes Market is Rapidly Growing with Huge Application Scope & Opportunities by 2021-2030

According to a new report published by Allied Market Research, titled, "Solid Electrolytes Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030," The solid electrolyte market size was valued at $17.8 million in 2020, and is projected to reach $56.6 million by 2030, at a CAGR of 12.1% from 2021 to 2030. 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 vehicle, 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.

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Increase in 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, surge in need for solid state batteries in electric vehicles plays an important role in escalating the market growth.

The report offers detailed segmentation of the global solid electrolyte market based on type, application, and region.
Based on type, the solid polymer segment is accounted for the largest market share in 2020, contributing to more than three-fifths of the total share. On the other hand, the ceramic segment is estimated to witness the fastest CAGR of 13.2% from 2021 to 2030.

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Based on application, the electric vehicle battery segment contributed to the largest share in 2020, accounting for nearly three-fifths of the global solid electrolyte market and is projected to dominate the market during the forecast period. However, the thin-film battery segment is expected to manifest the highest CAGR of 12.7% from 2021 to 2030.

Based on region, North America contributed to the highest share in 2020, holding more than one-third of the total market share, and is expected to maintain the lead throughout the forecast period. On the other hand, Europe is expected to portray the fastest CAGR of 13.4% 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 America solid electrolyte market is projected to grow at the highest CAGR of nearly 12.7%, in terms of revenue, during 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.