Global Zinc-ion Battery Market Share Likely to Reach At a CAGR of 3.2% By 2030

According to Custom Market Insights (CMI), The global zinc-ion battery market report summarizes, segregates, and displays the global market size and regional data. The research offers all-inclusive information on the global Zinc Ion Battery market growth, driving factors, key tactics, and market shares of the most prominent businesses across the industry. Further, this report will list important parameters and examine the latest trends influencing market growth.

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The global zinc-ion market size is estimated at USD 9.2 billion in 2021 and is projected to reach USD 13.3 billion by 2030, at a CAGR of 3.4% during the forecast period.

Zinc-ion Battery Market: Overview

Similar to the lithium-ion batteries, the zinc-ion battery operates on the principle of intercalation, which involves metal ions reacting at both electrodes and traveling through a water-based electrolyte solution. The discharge process involves zinc metal at the anode getting dissolved and leaving zinc ions in the water-based electrolyte solution. These zinc ions will travel to the cathode and will get absorbed from the electrolyte. During charging, the process will be reversed.

Growth Factors

The global zinc-ion battery will show significant growth, owing to the exponential demand from consumer electronic products such as mobiles, tablets, cameras, laptops, and others. The ever-growing market of electric vehicles will offer numerous opportunities for manufacturers, thus augmenting the growth of the market over the forecasted period of 2022 to 2030. The popularity of zinc-based batteries is rising due to their low cost as compared to other batteries such as lithium-ion batteries and nickel-cadmium batteries. These factors will contribute to futuristic growth projections worldwide.

Segmental Overview

The Zinc-ion Battery is segmented into product type and end-use sector. By type, the global zinc-ion market is separated into the following types, a Zn-Mn battery, Zn-Cl battery, Zn-C battery, Zn-Ag battery, Zn-Ni battery, and Zn-air battery. The zinc-air battery segment will hold the majority of the market share and will dominate the market over the forecasted period. The zinc-air segment will register a significant CAGR due to the rising number of applications in LED lighting, power tools, and consumer electronic items.

By end-use, the market is classified as consumer electronics, automotive, LED Lighting, and others. The consumer electronics segment held the largest revenue share in 2021 and will continue to dominate the market. Zinc-ion batteries are ideal for portable devices and several other consumer electronic products. These batteries are increasingly used in mobile phones, laptops, computers, tablets, torches or flashlights, hearing aids, and other wearable devices.

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Regional Overview

Increased Demand for Insect Repellents from Asia-Pacific

Zinc-ion battery market in APAC is expected to grow at the highest CAGR during 2022−2030. China is one of the world’s largest markets for electric vehicles and consumer electronics products. Continuous developments in the consumer electronics and automotive verticals have led to an increase in the application of Zinc-ion batteries due to their lower cost with increased safety.