Scientists from the Chalmers University of Technology in Sweden discovered a technique to bring Lithium-Sulfer batteries to the forefront of innovation. These batteries promise 5 times more energy for smartphones and computer devices as compared to conventional lithium-ion batteries. These next-generation batteries embed a graphene sponge, which acts like a freestanding electrode in the battery cell. It enables higher and better utilization of sulphur. The combination can deliver 1000-to-1500 watt-hours per kg. On the other hand, Lithium-ion batteries burn out at 300 watt-hours per kg. The research can also make a breakthrough in solving the environment challenges created by fluorine, a commonly found chemical in smartphone batteries. According to Aleksandar Matic, leader of the research team, sulphur is highly abundant, cheaper, and a lot more environment friendly.
Lithium-ion batteries power mobile phones, tablets, laptops, wearable devices, power banks, and other consumer electronic devices. Asia Pacific is the largest lithium-ion battery market in the world. The region has the largest consumer electronics and EV market, globally. Demand from these sectors is driving the sales of lithium-ion batteries in the region. In Asia Pacific, the value chain of the lithium-ion battery market is highly developed. Manufacturers in China, Japan, and South Korea, such as LG Chem, Samsung SDI, Panasonic Corporation, and BYD Group, are the dominant players manufacturing lithium-ion batteries for electric vehicles. Governments of China, Japan, and South Korea are investing heavily in lithium-ion battery technologies to maintain their lead.
China leads the lithium-ion market in the region. The large consumer electronics, EVs, and energy storage markets are driving the sale of lithium-ion batteries. Japan is a pioneer in the electronics industry. The Japanese automotive industry is an early adopter of EVs due to scarcity of oil. Rise in the sales of consumer electronic devices and EVs are increasing the demand for lithium-ion batteries. South Korea is a leader in the smartphone industry, and the rise in the sales of smartphones in the country is increasing the demand for lithium-ion batteries.
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North America has one of the largest consumer electronics and EV markets, and is the second-largest lithium-ion battery market in the world. The North America consumer electronics market was valued at ~ US$ 85 Bn in 2018, and is forecast to reach ~ US$ 108 Bn by 2023, expanding at a CAGR of ~ 6%. The rising consumer electronics market is driving the demand for lithium-ion batteries. Lithium-ion batteries are the heart of EVs. The region has opportunity for growth of EVs, as the penetration of EVs in the U.S., Canada, and Mexico is 2.4%, 2.3%, and 0.1%, respectively. The U.S. is the largest and the most prominent lithium-ion market in North America, followed by Canada.
Lithium-ion batteries are used in various energy storage applications, ranging from small capacity batteries used in residential systems with rooftop photovoltaic arrays to large capacity batteries used in complex energy grid systems. Rise in the demand for energy storage systems in the U.S. is driving the overall demand for lithium-ion batteries in the energy storage market in North America.
Europe is the third-largest market. Rise in the sales of consumer electronic devicesMEA and South America are the smallest markets among all the regions.
Company profiles of the players operating in the lithium-ion battery market include company overview, major business strategies, and key developments. Companies profiled in the global lithium-ion battery m