Titanium Fluoride Phosphate Market Trends

Growth Drivers

• Rising Need for Safe Energy Storage Solutions – Installed grid-scale battery storage capacity nearly triples to nearly 970 GW in the Net Zero Scenario between 2022 and 2030. Around 170 GW of capacity will be added in 2030 alone, compared with 11 GW in 2022. TiFP has thermal stability which makes it perfect for large-scale energy storage systems. It improves the safety of grid energy storage solutions. However, Peak shaving, a practice in which extra power is kept during off-peak hours and employed during peak demand hours, can be accomplished with TiFP-enhanced energy storage. This minimizes the burden on the grid during periods of heavy demand.
• Rising Regulations by the Government- Governments across the globe are focusing on reducing emissions through working on more electronics. Moreover, the government is encouraging companies to make products that are less harmful to the environment such as automotive, and electronics companies. Therefore, this is expected to boost the growth of the titanium fluoride phosphate market.

Challenges

• High Cost of Production- Due to the necessity for specialized equipment and methods, the manufacture of titanium fluoride phosphate can be costly. The high cost of manufacture may limit its competitiveness in comparison to alternative battery materials, such as lithium iron phosphate. Moreover, the procedure of production also required huge energy, since it involved multiple cycles of heating and cooling and high-temperature reactions. The production process is small scale, therefore it becomes even more expensive in comparison to large-scale manufacturing which increases the per-unit production cost.
• High sensitivity of lithium-ion battery towards temperatures
• Problems associated with the manufacturing of lithium-ion batteries