COVID-19 Impact on Solid Electrolyte Market
- The COVID-19 outbreak is hampering the demand for solid electrolyte in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the coronavirus. This has resulted in slowdown and even halt in manufacturing operations, thus hampering the demand for solid electrolytes.
- Key players operating in the solid electrolyte market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials.
- The COVID-19 outbreak has directly affected the production and demand for solid electrolytes. The industrial shutdown caused by the COVID 19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Solid Electrolyte Market
- Thin-film batteries utilize ceramic solid electrolytes such as lithium phosphorus oxy-nitride. Ceramic solid electrolyte helps transfer ions between cathode and anode. Solid electrolyte material offers high safety, and can be used in higher density applications such as automotive batteries. Demand for thin-film batteries is likely to increase. This is expected to drive the solid electrolyte market.
Restraints of Solid Electrolyte Market
- The nature of solid electrolyte affects the electrolytic conduction and types of electrodes. Inert electrodes such as graphite, platinum, and mercury are not compatible with the solid electrolyte, and do not participate in electrolysis. This is likely to restrain the solid electrolyte market.
Asia Pacific to Constitute Significant Share of Global Solid Electrolyte Market
- In terms of region, the global solid electrolyte market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global market in 2020. Asia Pacific is the largest market for solid electrolyte due to substantial investments in China, Japan, and India for continual improvements in energy efficiency, eco-friendliness, and battery. Asia Pacific is expected to account for the leading share of the solid electrolyte market during the forecast period owing to growth in urbanization and rise in spending power of countries in the region. The solid electrolyte market in the region is expected to expand at a rapid pace throughout the forecast period.
- Europe is also one of the key consumers of solid electrolytes. The region is expected to account for significant growth in the solid electrolyte market, owing to the increase in the number of manufacturers and rise in sales of automotive parts in the region.
Competitive Landscape of Global Solid Electrolyte Market
- Major players operating in the global solid electrolyte are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- Solid Power
- Hydro Quebec
- NEI Corporation
- Quantumscape Corporation
- H2E Power Systems Private Limited
- Toshima Manufacturing Co. Ltd.
Global Solid Electrolyte Market
Global Solid Electrolyte Market, by Type
- Solid Polymer
Global Solid Electrolyte Market, by Application
- Lithium-ion Solid State Batteries
- High Temperature Fuel Cells
- Oxygen Sensors
- Zirconia Solid Electrolytes
- Complex Solid Electrolyte Batteries
Global Solid Electrolyte Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Solid Electrolyte Market: Introduction
- Solid electrolyte or solid-state electrolyte (SSE) is a solid ionic conductor and electron-insulating material. Solid electrolytes offers characteristics such as no leakage of toxic organic solvents, low flammability, and non-volatility.
- Solid electrolytes are used in all solid-states batteries. They potentially offer higher safety and are paired with higher power & energy densities compared to lithium-ion batteries. Solid-state electrolyte creates opportunities for greater efficiency and higher safety in the solid electrolyte market.
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