The U.S. silicon anode market size was worth USD 46.05 million in 2022 and is projected to grow at a CAGR of 42.1% during the forecast period.
Silicon anodes are more in demand due to their long battery lifespan, cost-effectiveness, and high power density. Silicon anodes help to increase the electrochemical performance of silicon lithium batteries. The surging demand for high-quality and durable products from the automotive and electronics sectors is estimated to drive market growth in the country.
During COVID-19 pandemic, extended lockdowns in electronics, automotive, industrial machinery, and consumer goods led to a short-term production halt in all countries. Thus, the demand for silicon anodes from several industries fell abruptly.
Fortune Business Insights™ mentioned this in a report titled “U.S. Silicon Anode Market, 2023-2030.”
Segments:
>3000 mAh/g Segment to Dominate due to High Theoretical Capacity
On the basis of capacity, the market is diverged into <=3000 mAh/g and >3000 mAh/g.
In comparison with traditional graphite anodes, silicon anodes of >3000 mAh/g capacity are most attractive owing to high-capacity anode materials and highest theoretical capacity (4200 mAh/g). Moreover, due to the high specific capacity of silicon, the alloy with lithium leads to a large change in volume (more than 300%).
Increasing Digitalization to Skyrocket the Market Growth for Automobile Sector
Based on end-use industry, the market is segmented into energy & power, automotive, industrial, consumer electronics, and others.
The automotive segment records the highest market share and is estimated to rise during the projected period. The surging demand from the automobile sector is driving the product consumption substantially.
The electronics segment recorded for substantial market growth during the projected period due to owing to increasing disposable income, growing urban population, and a robust supply chain.
Report Coverage:
The report offers a detailed study of the market and a keen examination of the significant segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective.
Drivers & Restraints:
Surging Demand for Electric Vehicles (EVs) to Boost Market Development
The rise in demand for Electric Vehicles (EVs) and increased demand for sustainable technologies are augmenting the U.S. silicon anode market growth. The surging demand for long-lasting, high-performance, and safe applications, such as electric vehicles, consumer electronics, and grid storage, tends to aid the U.S. silicon anode market share expansion. The demand for the product is increasing due to their high stability and durability, marking them an alternative to graphite in lithium-ion batteries.
Various stringent regulations have been imposed on silicon anodes to hamper market growth, owing to the deterioration of electronic conductivity, and the destruction of the solid electrolyte interphase layer on fractured surfaces.
Competitive Landscape:
Major Players are Focusing on Collaborations, Mergers, and Acquisitions to Boost Market Development
Prominent players in the market include Enevate Corporation, NanoGraf Corporation, Amprius Technologies, Alkegen, ADVANO, and Sila Nanotechnologies, Inc. are estimated to boost the market development. Key industry players in the market compete initially on the basis of price & application characteristics of the product.
