Aluminium-Based Battery Market : Predictions and Opportunities.
The
global aluminium-based battery market is still in its early stages, and is
expected to grow moderately in the future. Aluminium has long been recognized
as a larger capacity base for batteries than lithium as it can trade 3
electrons for each ion, compared to at least one for lithium, allowing up to 3
times the power density.
In
several laboratories throughout the world, aluminium- based batteries are being
designed and tested., Aluminium battery technology has significantly achieved
the production of functional models, although it is yet to be mass produced. A
lightweight aluminium graphite battery developed by researchers at Stanford
University charges faster, lasts longer on a single charge, and is safer to use
when compared with lithium-ion (Li-ion) batteries. Aluminium batteries can be
used in various applications in industry, including automobiles, smartphones,
laptops, power packs, and flexible displays.
COVID-19 Impact Analysis
- At the beginning of 2020, the COVID-19 disease
began to spread globally. Millions of people around the world were
infected with the COVID-19 disease. Major countries in the world issued
permanent bans and work suspension orders. Most of the life support
industries have been severely impacted.
- The manufacturing unit suffered shortage of
employees for production work due to the global lockdown.
- Aluminium-based battery is light in weight and
has high charge value, hence it was used as a source of power and backup
for medical instruments during the pandemic.
- COVID-19 may cause energy utilities to invest
in locally sourced key raw materials due to supply chain complexity.
- During this pandemic, aluminium-based battery
manufacturers have the opportunity to focus on increased industrial and
commercial demand to ensure an adequate and continuous supply of products
to meet the market demand, so COVID-19 is expected to have a significant
impact on the automotive and power back source market.
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analysis @ https://www.alliedmarketresearch.com/request-for-customization/12460?reqfor=covid
Top Impacting Factors
- The most significant factor influencing the
growth of the aluminium batteries is that are consumed at a faster rate.
- Aluminium
corrodes easily due to the presence of carbon dioxide in the air. When
these batteries are stored for a long time, the electrolyte on the aluminium
anode is consumed, and the battery loses nearly 80% of its power within a
month.
- One of the major disadvantages of aluminium-air
batteries is that they cannot be recharged like lithium-ion batteries.
- The widespread use of aluminium-air battery-based
vehicles would need the wide availability of battery swapping stations.
New Product Launches to Flourish the
Market
- IOCL, India’s largest commercial oil company,
announced a partnership with energy start-up Phinergy on February 4, 2020
to develop and manufacture innovative metal-air batteries as viable
solutions
- The increase in use of electric vehicles and
the surge in investment by auto companies in aluminium-air batteries may
be the primary driving force of the aluminium-based battery market.
- Rechargeable aluminium-air batteries are
expected to bring huge market opportunities. Many companies are improving
their products to extend battery life when not in use. For example,
Brandon Hopkins along with Yang Shao Horn and Douglas’s hart at MIT
proposed a process that can significantly reduce anode corrosion while
maintaining battery performance.
- Aluminium ions also have no upper
current limit, so they will not overheat spontaneously and do not require
additional cooling to operate safely.
- The battery will need to be replenished, once
the aluminium has been depleted, which might be significant market
constraint. To overcome the issue some power station, service station, or
power swapping station must be easily accessible to the driver.
Key Benefits of the Report
- This study
presents the analytical depiction of the aluminium-based battery industry
along with the current trends and future estimations to determine the
imminent investment pockets.
- The report
presents information related to key drivers, restraints, and opportunities
along with detailed analysis of the aluminium-based battery market share.
- The current
market is quantitatively analysed from 2020 to 2030 to highlight the
growth scenario of the aluminium-based battery market.
- Porter’s five
forces analysis illustrates the potency of buyers & suppliers in the
market.
- The report
provides a detailed aluminium-based battery market analysis based on
competitive intensity and the competition that will take shape in coming
years.
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