The Sodium-ion Batteries Market was valued at USD 318 million in 2024, and is expected to reach USD 838.5 million by 2029, rising at a CAGR of 18.60%.
SIBs are becoming an alternative to lithium-ion batteries (LIBs) due to lower prices and easy access to many raw materials. As sodium is the sixth most common element in the world, its use significantly lowers the supply chain risks and geopolitical concerns that come with lithium. During charging and discharging cycles, sodium-ions move back and forth between the anode and the cathode, making these batteries work like LIBs. SIBs work best for grid storage and other large-scale energy storage systems that need to be cost-effective and have a long cycle life. They can also be used in EVs as an alternative to LIBs due to their better safety features, like thermal runaway reactions. SIBs are still being studied to improve efficiency, cycle life, and energy density. As the technology improves, these batteries will be a big part of many end-user industries.
SIBs are becoming an alternative to lithium-ion batteries (LIBs) due to lower prices and easy access to many raw materials. As sodium is the sixth most common element in the world, its use significantly lowers the supply chain risks and geopolitical concerns that come with lithium. During charging and discharging cycles, sodium-ions move back and forth between the anode and the cathode, making these batteries work like LIBs. SIBs work best for grid storage and other large-scale energy storage systems that need to be cost-effective and have a long cycle life. They can also be used in EVs as an alternative to LIBs due to their better safety features, like thermal runaway reactions. SIBs are still being studied to improve efficiency, cycle life, and energy density. As the technology improves, these batteries will be a big part of many end-user industries.
Market Dynamics and Growth Factors
Perhaps the main reason that the global SIB market is growing is environmental concerns. Sodium extraction has a lower environmental impact than lithium mining. The growing demand for energy storage solutions to support renewable energy integration drives interest in SIBs, which provide lowcost and long-lasting storage capabilities. Another driving factor is the growing emphasis of automakers on increasing the driving range of EVs while achieving improved energy density. Many battery manufacturers are exploring innovative battery chemistries to reach these goals. The market is also growing because of government policies and incentives that encourage the use of renewable energy and creating a circular economy.Report Scope
The report analyzes the product types of sodium-ion batteries (SIBs), including sodium-sulfur batteries, sodium-salt batteries (zebra batteries), and sodium-oxygen (sodium-air) batteries. Components used in the manufacture of sodium-ion batteries include electrodes, electrolyte materials, encapsulation materials, packaging, separators, and other materials, such as binders, end plates and terminal assemblies. The electrodes include anodes and cathodes. Anodes may consist of hard carbon and metal/alloy-based materials or other materials, such as ceramic and Prussian blue analogs. Cathodes include inorganic compounds, metal-organic compounds, and organic compounds. This study also covers end-uses for the global SIB market, including grid-level/battery storage, electric vehicles (EVs), commercial power backup, industrial power backup, and others, such as residential power backup, military and space, and portable devices.The report also analyzes market dynamics, emerging technologies and developments, upcoming trends and the competitive landscape, and look at patents related to SIBs. It also includes a chapter of environmental, social and governance (ESG) initiatives and concludes by providing company profiles of the market leaders. The report also includes a regional analysis of North America, Europe, the Asia-Pacific, and the rest of the world (RoW) region, which in this report consists of South America, the Middle East and Africa.In this report, 2023 is considered as the base year, estimates are provided for 2024, and market values are forecast for five years until 2029. All market values are expressed in $ millions.The report includes:
- 61 data tables and 49 additional tables
- An analysis of the global markets for sodium-ion batteries, including materials and technologies
- Analyses of global market trends, with market revenue data from 2023, estimates for 2024, forecasts for 2025, and projected CAGRs through 2029
- Estimate of the current market size and revenue prospects of the global market, along with a market share analysis by material type, technology, application, end user, and region
- Facts and figures pertaining to the market dynamics, technological advances, regulations, and the influence of macroeconomic factors driving future demand and innovation
- A Porter's Five Forces analysis, a global supply chain analysis and a SWOT analysis
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, ESG score analysis, and the ESG practices of leading companies
- A look at recent patent grants related to sodium-ion batteries
- Competitive intelligence, including company shares, strategic alliances, M&A activity and venture fundings outlook
- Company profiles of major players within the industry, including Contemporary Amperex Technology Co. Ltd. (CATL), HiNa Battery Technology Co. Ltd., Faradion, Tiamat, and Natron Energy Inc.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Market Overview
Chapter 3 Market Dynamics
Chapter 4 Emerging Technologies and Developments
Chapter 5 Market Segmentation Analysis
Chapter 6 Competitive Intelligence
Chapter 7 Sustainability in the Sodium-ion Batteries Market: An ESG Perspective
Chapter 8 Appendix
List of Tables
List of Figures
Companies Mentioned
- Altris Ab
- Aquion Energy
- Contemporary Amperex Technology Co. Ltd.
- Faradion
- Hina Battery Technology Co. Ltd.
- Hunan Cube New Energy Technology Co. Ltd.
- Indi Energy
- Jiangsu Zoolnasm Energy Technology Co. Ltd.
- Natron Energy Inc.
- Nei Corp.
- Ngk Insulators Ltd.
- Northvolt Ab
- Sodion Energy
- Tiamat
- Zhejiang Natrium Energy Co. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 126 |
| Published | September 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 318 Million |
| Forecasted Market Value ( USD | $ 838.5 Million |
| Compound Annual Growth Rate | 18.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
