Silicon-based Anode Market Size & Share, by Product Type (Silicon Oxide Blends, Silicon Carbon Fiber, Graphene-Enabled Silicon Anode); Application (Automobile, Consumer Electronics, Grid Storage, Medical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Increasing Application of Silicon-based Anode for Water Treatment - There has been surge in waste water disposed by factories or households. Moreover, the scarcity of fresh water is also growing however, the demand for it surging rigorously. Hence, the need for water treatment system is rising due to which the market for silicon anode battery might boost. Various research has been carried out to explore its potential in the field of water treatment system since it was still not extensively used. However, with this it might drive the demand for silicon-based anode.
• Surge in Demand for Renewable Energy - World renewable electricity capacity is predicted to surge by over 59 percent from 2020 levels to in excess of 4 799 GW by 2026, which is equal to the present total world capacity of nuclear and fossil fuels put together. As a consequence, the silicon-based anode market demand is also predicted to rise. The storage of renewable energy may be made possible by silicon-based anode materials, facilitating the shift to cleaner and more sustainable energy systems.
• Growing Advancement in Battery Technology - Advanced efficiency in a variety of applications, which include electric vehicles, consumer electronics, renewable energy, and industrial machines, relies on battery technologies. The requirement for major players to strengthen their market position has increased as a result of the expansion of battery applications. New negative energy battery materials are being tested by designers in an effort to replace graphite anodes more effectively. Hence, this is set to dominate the market position.
• Rise in Expansion of Consumer Electronics Sector - The demand for consumer electronics products such as smartphones, laptops, and more is growing owing to growing quality life and disposable income of population. This has hence led to surge in consumer electronics market. However, the demand of consumer for long lasting and reliable batteries is rising which is why various key players in consumer electronics are shifting towards deploying silicon-based anode batteries. 

Challenges

• Less Electrical Conductivity - The poor electrical conductivity of silicon may trigger the battery's internal resistance to grow, lowering the battery's overall efficiency. Therefore, this could impede the silicon-based anode market revenue in near future.
• Lack of Skilled Workforce - Companies must make investments in retraining and skilling their personnel to keep up with the evolving workplace since handling silicon anode batteries with changing technology development needs skills. For instance, to work efficiently with robots, manage robotic systems, and carry out duties that supplement and support robotic operations, employees must learn new skills. To guarantee a smooth transition and maximize the advantages of industrial automation while preserving employment possibilities, retraining programmes and efforts are essential. However, lack of willingness of companies to invest on their personnel might retrain the silicon-based anode market growth. 
• Difficult Manufacturing Process of Silicon-based Anode Batteries