Pune, India, July 21, 2020 (GLOBE NEWSWIRE) -- The Global Lithium-Sulfur (Li-S) Battery Market was valued at USD 696.1 Million in 2019 and is anticipated to reach USD 6,686.2 Million by 2028, with a CAGR of 29.6% during the forecast period. The first Li-S battery was invented in 1960 and was patented by Herbert and Ulam in 1962. They used Lithium or various Lithium alloys as an anodic material and Sulfur(S) as a cathodic medium. After the advancement of technologies and the invention of various organic solvents such as Propylene Carbonate (PC), Dimethyl Sulfoxide (DMSO) and Dimethylformamide (DMF) propelled the market dynamics of Lithium-Sulfur battery market. Ether was applied in Li-S battery in 1980 which was used as a solvent for the electrolytes.
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Li-S batteries are mainly used in aviation, automotive, electronic device, and power& energy sector due to the growing demand for green energy with high energy density as compared to other battery types. Lithium-Sulfur (Li-S) batteries provide lightweight to end-use applications due to low and moderate atomic weight of Lithium (Li) and Sulfur (S) and due to this reason, Li-S battery is widely used in the aerospace industry. Besides this, superior performance along with lower manufacturing costs, abundant supply of material, ease of processing and reduced environmental footprint propelled the growth of the Lithium-Sulfur (Li-S) battery market. Ultra-high capacity Lithium-Sulfur (Li-S) battery has better performance and less environmental impact to that of current Lithium-ion batteries.
High theoretical and practical energy density achieved by combining a lithium-metal anode with a sulfur cathode is the driving factor for Lithium-Sulfur battery technology. In the other side, the extremely low electrical conductivity of the Sulfur cathode requires an extra mass for the conductive agent to exploit the entire active mass contribution to the capacity. Large volume expansion of the Sulfur cathode from S to Li2S and the large quantity of electrolyte required also challenge to be addressed.
Global Lithium-Sulfur (Li-S) Battery Market, by Power Capacity
Based on power capacity, global Lithium-Sulfur (Li-S) battery market segmented into 0-500mAh, 501-1000 mAh, above 1000 mAh. Among these, 0-500mAh segment power capacity is anticipated to capture the largest market share in the global market in 2020 and is anticipated to remain largest till the forecast period. The growing adaptation of electric vehicles, hybrid cars and also the demand from the electronic industry further anticipated to boost the segments demand.
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Global Lithium-Sulfur (Li-S) Battery Market, by End User
Based on End User, global Lithium-Sulfur (Li-S) battery market is segmented into aerospace, automotive, electronic device, power & energy, and others. Out of which, automotive segment is accounted for the largest share of more than 55.0% of the global market in 2020. It also anticipated that, increasing adaptation from the aerospace end user segment further attribute the market.
Global Lithium-Sulfur (Li-S) Battery Market, by Region:
Based on region, global Lithium-Sulfur (Li-S) battery segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, Middle East, and Rest of World. North America and Asia Pacific region capture near about two third of the global Lithium-Sulfur (Li-S) battery in 2020. In North America, U.S. is the leading market which is mainly attributed to the growing automotive and aerospace end user segment. In Asia Pacific, the growing demand from electric vehicles mainly in China and Japan are the major factors that will anticipate to drive the Li-S battery market in the region.
Some major findings of the global Lithium-Sulfur (Li-S) battery report include:
- Major global market trend & forecasts analysis along with the country specific market analysis up to 27 countries
- In-depth global Lithium-Sulfur (Li-S) battery market analysis by power capacity, end users, and regions with analysis of trend-based insights and factors
- Major key market players operating in Lithium-Sulfur (Li-S) battery market that include are Oxis Energy, Poly Plus, and Sion Power
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players along with their major investments in last five years
- Micro, Macro analysis factor analysis across the regions along with the drivers, restrains, opportunities, challenges, guidelines and regulations that are prevailing in the Lithium-Sulfur (Li-S) battery market
- In depth Porter’s, value chain and Porters analysis of the market
Browse key industry insights spread across 111 pages with 57 market data tables and 28 figures & charts from the report, “Lithium-Sulfur (Li-S) Battery Market, By Power Capacity (0-500mAh, 501-1000 mAh, above 1000 mAh), By End User(Aerospace, Automotive, Electronic Device, Power & Energy, Others), , By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting (2017-2028)” in depth analysis along with the table of contents (ToC).
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