The global solid electrolyte market is anticipated to grow at an exponential CAGR of 32.8% during the forecast period (2024-2031). Globally, China holds the largest market share in the global solid electrolyte market owing to its well-developed manufacturing infrastructure, supported by significant investments in R&D and manufacturing investments that enable Chinese companies to gain a competitive edge. For instance, in November 2023, GAC Group and Changan Automobile announced plans to manufacture solid-state batteries, with Toyota projecting widespread adoption by 2027. The move reflects a trend among automakers to develop their batteries, aiming for self-sufficiency in the supply chain and sustainable development. Also, in April 2023, Chinese Battery Company CATL revealed a condensed matter battery that it said could supply enough energy to power electric passenger aircraft for civil aviation use. According to the company, the battery, a type of semi-solid state product with condensed electrolytes and new anode and separator materials, will have an energy density of 500 watts hours per kilogram (Wh/kg).
Browse the full report description of “Solid Electrolyte Market Size, Share & Trends Analysis Report by Type (Inorganic Solid Electrolytes (ISEs), Composite Polymer Electrolytes (CPEs) and Solid Polymer Electrolytes (SPEs)), by Application (Automotive, Consumer Electronics, Energy and Healthcare) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/solid-electrolyte-market
Additionally, China benefits from rich access to raw materials like lithium and ceramics, which are essential for solid electrolyte production. The country's government policies and incentives, particularly in the EV industry, are also driving demand for solid electrolytes, crucial for Li-ion batteries. China's growing consumer electronics market and increasing investments in renewable energy storage solutions further contribute to the demand for solid electrolytes. According to the data from China Energy Storage Alliance, the cumulative installed capacity of commissioned electrical energy storage projects in China reached 70.2 GW by the end of June 2023, marking a year-on-year increase of 44%.During the first half of 2023, China's new energy storage sector witnessed rapid development, encompassing 850 projects, including those in planning stages, under construction, and already commissioned. This figure represents a doubling compared to the corresponding period in the previous year.
To summarize, China's combination of manufacturing capabilities, resource availability, supportive policies, and growing markets establish its leadership in the global solid electrolyte market.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Enevate Corp., Hitachi Zosen Corp., Ilika plc,and NEI Corp. among others.
Key questions addressed by the report.
Global Solid Electrolyte Market Report Segment
By Type
By Application
Global Solid Electrolyte Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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