Wilmington, Delaware, United States, , April 28, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Solid-ion Conductors Market size stood at US$ 22.3 Mn in 2022 and is expected to reach US$ 46.8 Mn by 2031. The global market is expected to expand at a CAGR of 11.2% between 2023 and 2031.
A potential group of materials for use in electrochemical sensors, fuel cells, and next-generation batteries has been identified as solid-state ion conductors. The market size for solid-ion conductors is anticipated to increase due to the growing popularity of electric cars and thin film batteries.
Electrical and engineering companies are increasingly using solid-ion conductors. This can be attributed to the capability of solid-ion conductors to transport ions via a solid-state matrix, offering several advantages over conventional liquid electrolytes.
These advantages include enhanced stability, safety, and energy density, and these benefits are anticipated to drive business opportunities in the global market. Suppliers in the solid-ion conductors industry are emphasizing enhancing the ionic conductivity and stability of these materials to expand their client base.
Solid-ion conductors permit the passage of ions via their crystal lattice in contrast to conventional materials, such as semiconductors and metals, which transmit electricity via the movement of electrons. They can be used in fuel cells, batteries, and sensors, among other technical applications.
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Market Scope:
| Market Revenue | USD 22.3 Mn | |
| Estimated Value | USD 46.8 Mn | |
| Growth Rate - CAGR | 11.2% | |
| Forecast Period | 2023 - 2031 | |
| No. of Pages | 251 Pages | |
| Market Segmentation | By Type, Application, End-use | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
Key Findings of Market Report
- Growing demand for electronic devices that are more dependable and efficient is estimated to increase the demand for materials that can support the development of novel and advanced technologies. Solid-ion conductors are capable of being a significant player by providing a number of advantages Solid-state batteries that use solid-ion conductors have better energy densities, longer lives, and improved safety as compared to conventional liquid electrolyte batteries.
This may result in the creation of lighter, more potent batteries for use in laptops, cellphones, and other portable electronics. Consequently, expansion of engineering and electrical industries is expected to drive market development in the near future.
Global Solid-ion Conductors Market: Growth Drivers
- Solid-ion conductors are crucial components in order to create high-performance, durable, and secure batteries for EVs. Better stability, energy density, and enhanced safety are just a few benefits that these conductors have over conventional liquid electrolytes. Solid-ion conductors are the best choice for use in high-performance batteries for EVs due to these benefits. Therefore, an increase in the adoption of EVs is anticipated to propel the global market in the coming years.
- Solid-ion conductors possess the capability to be a significant player in this by providing a number of advantages like higher level of stability, better conductivity, and enhanced energy storage. The development of new computer technologies such as artificial intelligence and neuromorphic computing, is likely to increase the demand for solid-ion conductors. These technologies need quick and effective data processing, which could be made possible by using solid-ion conductors as the fundamental components for ionic transistors
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Global Solid-ion Conductors Market: Regional Landscape
- Based on region, North America is anticipated to account for largest market share between 2023 and 2031. The region led the global industry in 2022. Increase in demand for EVs and better battery technology is expected to drive business growth in the North America market.
- The market in Asia Pacific is anticipated to expand significantly in the near future. The region held the second-largest share of the global market in 2022. Market demand for solid-ion conductors in the region is being driven by the rapid increase in adoption of EVs and renewable energy sources. This, in turn, is anticipated to drive business opportunities in the global Solid-ion Conductors Market.
Global Solid-ion Conductors Market: Key Players
Some of the key players in the global Solid-ion Conductors Market are as follows
- Johnson Battery Technologies Inc.
- Excellatron Solid State LLC
- Infinite Power Solutions Inc.
- Cymbet Corporation
- Prieto Battery
- Sakti3 Inc
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Global Solid-ion Conductors Market: Segmentation
Type
- Solid Polymer
- Ceramic Type
Application
- Sensors
- Thin Film Batteries
- Fuel Cells & Electrolyzers
- Electric Vehicle Batteries
- Chemotronic Devices
- Supercapacitors
- Others
End-use
- Telecommunication
- Heavy Goods
- Electrical & Engineering
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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