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The Global Market for Sodium-ion Batteries 2024-2034

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    Report

  • 130 Pages
  • September 2023
  • Region: Global
  • Future Markets, Inc
  • ID: 5849401

The sodium-ion battery (SIB) market is rapidly gaining momentum as it promises to be a more sustainable and cost-effective alternative to lithium-ion batteries.  The market is at an early-stage, but is growing fast, and is ramping up in 2023. Commercialization of SIB is moving much faster than was originally expected and they will be key components in Small Electric Vehicle (EV) and Long-duration Energy Storage applications. Among other advantages over incumbent Lithium-ion batteries (LIB), SIBs offer lower raw material costs and sustainability.

Key SIB Market Drivers include: 

  • Lower raw material costs - Sodium is abundant compared to constrained lithium supplies, reducing input costs.
  • Improved sustainability - Avoidance of scarce lithium and cobalt resources.
  • Increasing R&D - Major advances in anode, cathode and electrolyte materials.
  • Government funding - Subsidies and investments aimed at advancing SIB tech.
  • EV applications - Automakers developing SIBs for more affordable EVs.

BYD spin-off FinDreams has recently entered a joint venture agreement with Huaihai Holding Group to create the world's largest sodium-ion battery factory for small electric vehicles. Leading power battery manufacturer CATL will begin mass production of sodium-ion batteries for vehicles in Q4 2023 and other battery and automotive manufacturers are increasing commercial activity. SIBs are expected to gain share in:

  • Small electric vehicles and short-range transportation.
  • Large-scale stationary storage for renewable energy.
  • Backup power supplies and off-grid energy storage.

Report contents include:

  • Market drivers and challenges.
  • Comparative analysis to other battery types.
  • Analysis of materials and components in Na-ion batteries.
  • Cost breakdown and analysis.
  • Market developments, production, funding and investments 2020-2023. 
  • The market in China.
  • Market value chain analysis.
  • Analysis of main players and benchmarking.
  • Capacities to 2034.
  • Global patent landscape. 
  • Market analysis of markets for Na-ion batteries:
    • Large-scale stationary grid storage.
    • Stationary batteries. 
    • Electric vehicles.
    • Electric boats.
    • Consumer electronics. 
  • 50 company profiles. Company profiles include products, materials utilized in cathodes & anodes, cell densities, cycle life, target markets and production plans. Companies profiled include Altris AB, CATL, Faradion, HiNa Battery, Kite Rise Technologies GmbH,  Natron Energy, Tiamat Energy and Weifang Energy. 


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Table of Contents

1 INTRODUCTION
1.1 Motivation for battery development beyond lithium
1.2 Value proposition for sodium-ion batteries
1.3 Technology description
1.4 Key performance metrics
1.5 The Li-ion battery market

2 SODIUM-ION BATTERY CHEMISTRIES AND CELL DESIGNS
2.1 Comparative analysis with other battery types
2.2 Cost comparison with Li-ion
2.3 Materials in sodium-ion battery cells
2.4 Cathode materials
2.4.1 Layered transition metal oxides
2.4.1.1 Types
2.4.1.2 Cycling performance
2.4.1.3 Advantages and disadvantages
2.4.1.4 Market prospects for LO SIB
2.4.2 Polyanionic materials
2.4.2.1 Advantages and disadvantages
2.4.2.2 Types
2.4.2.3 Market prospects for Poly SIB
2.4.3 Prussian blue analogues (PBA)
2.4.3.1 Types
2.4.3.2 Advantages and disadvantages
2.4.3.3 Market prospects for PBA-SIB
2.5 Anode materials
2.5.1 Hard carbons
2.5.2 Carbon black
2.5.3 Graphite
2.5.4 Carbon nanotubes
2.5.5 Graphene
2.5.6 Alloying materials
2.5.7 Sodium Titanates
2.5.8 Sodium Metal
2.6 Electrolytes
2.6.1 Thermal stability
2.6.2 Carbonate-based liquid electrolytes (e.g. EC/PC with Na salts)
2.6.3 Ionic liquids
2.6.4 Solid state electrolytes (e.g. Na-beta-alumina)
2.7 Other components
2.8 Molten sodium batteries
2.9 Aqueous rechargeable sodium ion batteries

3 MANUFACTURING PROCESS AND COST ANALYSIS
3.1 Description of manufacturing process
3.2 Cost breakdown and analysis

4 THE GLOBAL MARKET FOR SODIUM-ION BATTERIES
4.1 Market drivers
4.2 Market challenges
4.3 Recent market developments
4.4 Main players and competitive landscape
4.4.1 Battery Manufacturers
4.4.2 Large Corporations
4.4.3 Automotive Companies
4.4.4 Chemicals and Materials Firms
4.5 SWOT analysis
4.6 Market value chain
4.7 The market in China
4.8 Global patent landscape
4.9 Planned capacities by cathode type
4.10 Grid storage
4.10.1 Market overview
4.10.2 Competing technologies
4.10.3 Market outlook
4.11 Electric vehicles (EV)
4.11.1 Market overview
4.11.2 Competing technologies
4.11.3 Market outlook
4.12 Consumer electronics
4.12.1 Market overview
4.12.2 Competing technologies
4.12.3 Market outlook
4.13 Stationary batteries
4.13.1 Market overview
4.13.2 Competing technologies
4.13.3 Market outlook
4.14 Electric boats
4.14.1 Market overview
4.14.2 Competing technologies
4.14.3 Market outlook
4.15 Global Market Size and Forecast
4.15.1 Capacities
4.15.2 Total market revenues
4.15.3 By region
4.16 Future outlook

5 COMPANY PROFILES (50 company profiles)
6 RESEARCH METHODOLOGY
6.1 Report scope
6.2 Research methodology

7 REFERENCES
List of Tables
Table 1. Value proposition for sodium-ion batteries
Table 2. Key performance metrics for sodium-ion batteries
Table 3. Na-based battery types
Table 4. Component and materials in sodium-ion batteries
Table 5. Pros and cons compared to other battery types
Table 6. Cost comparison with Li-ion batteries
Table 7. Key materials in sodium-ion battery cells
Table 8. Comparison of cathode materials
Table 9. Layered transition metal oxide cathode materials for sodium-ion batteries
Table 10. General cycling performance characteristics of common layered transition metal oxide cathode materials
Table 11. Polyanionic materials for sodium-ion battery cathodes
Table 12. Comparative analysis of different polyanionic materials
Table 13. Common types of Prussian Blue Analogue materials used as cathodes or anodes in sodium-ion batteries
Table 14. Comparison of Na-ion battery anode materials
Table 15. Hard Carbon producers for sodium-ion battery anodes
Table 16. Comparison of carbon materials in sodium-ion battery anodes
Table 17. Comparison between Natural and Synthetic Graphite
Table 18. Properties of graphene, properties of competing materials, applications thereof
Table 19. Comparison of carbon based anodes
Table 20. Alloying materials used in sodium-ion batteries
Table 21. Na-ion electrolyte formulations
Table 22. Comparison of electrolyte salts and solvents
Table 23. Solid-state electrolyte materials for sodium-ion batteries
Table 24.Other components in Na-ion batteries
Table 25. Types of molten sodium batteries:
Table 26. Production steps in Na-ion battery manufacturing process
Table 27. Na-ion costs compared to other battery types
Table 28. Na-ion cell material costs compared to Li-ion
Table 29. Na-ion price reported by companies
Table 30. Comparative price of sodium-ion batteries, USD/kwh Pack
Table 31. Market drivers for sodium-ion batteries
Table 32. Market challenges for sodium-ion batteries
Table 33. Recent market developments
Table 34. Competing technologies for sodium-ion batteries in grid storage
Table 35. Competing technologies for sodium-ion batteries in electric vehicles
Table 36. Competing technologies for sodium-ion batteries in consumer electronics
Table 37. Competing technologies for sodium-ion batteries in stationary batteries
Table 38. Competing technologies for sodium-ion batteries in electric boats
Table 39. Global market for sodium-ion batteries 2018-2034 (Millions USD)
Table 40. Regional demand, GWh by 2030
Table 41. CATL sodium-ion battery characteristics
Table 42. CHAM sodium-ion battery characteristics
Table 43. Faradion sodium-ion battery characteristics
Table 44. HiNa Battery sodium-ion battery characteristics
Table 45. LiNa Energy battery characteristics
Table 46. Natrium Energy battery characteristics

List of Figures
Figure 1. Schematic illustration of sodium-ion battery
Figure 2. CATL's first-generation sodium-ion battery
Figure 3. Li-ion battery cell pack
Figure 4. Schematic diagram of a Na-ion battery
Figure 5. Schematic of Prussian blue analogues (PBA)
Figure 6. Comparison of SEM micrographs of sphere-shaped natural graphite (NG; after several processing steps) and synthetic graphite (SG)
Figure 7. Overview of graphite production, processing and applications
Figure 8. Schematic diagram of a multi-walled carbon nanotube (MWCNT)
Figure 9. Battery pack costs by chemistry
Figure 10. SWOT analysis: Sodium-ion battery market
Figure 11. Market value chain for sodium-ion batteries
Figure 12. Sodium-ion grid storage units
Figure 13. E10X model with sodium-ion battery pack
Figure 14. Salt-E Dog mobile battery
Figure 15. I.Power Nest - Residential Energy Storage System Solution
Figure 16. Sodium-ion battery capacities, 2022-2034 (GWh)
Figure 17. Global market for sodium-ion batteries 2018-2034 (Millions USD)
Figure 18. Global market for sodium-ion batteries 2018-2034, by region (Millions USD).*
Figure 19. Containerized NAS® batteries
Figure 20. BYD Seagull
Figure 21. HiNa Battery pack for EV
Figure 22. JAC demo EV powered by a HiNa Na-ion battery
Figure 23. Kite Rise’s A-sample sodium-ion battery module
Figure 24. Li-FUN sodium-ion battery cells
Figure 25. LiNa Energy battery
Figure 26. Stora Enso lignin battery materials
Figure 27. Zoolnasm batteries

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Altech Batteries Ltd.
  • Altris AB
  • AMTE Power
  • BASF
  • Biwatt Power
  • BenAn Energy Technology
  • Broadbit Batteries Oy
  • Build Your Dreams (BYD)
  • Contemporary Amperex Technology Co Ltd (CATL)
  • CAPCHEM
  • CBAK Energy Technology, Inc.
  • Central Glass Co., Ltd.
  • Cham Battery Technology
  • Chengdu Baisige Technology Co., Ltd.
  • China Sodium-ion Times
  • DFD
  • EVE Energy Co., Ltd
  • Exencell New Energy
  • Faradion Limited
  • Farasis Energy
  • Geyser Batteries Oy
  • Great Power Energy
  • Guoke Tanmei New Materials
  • HiNa Battery Technologies Limited
  • Horizontal Na Energy
  • Hua Na New Materials
  • Indi Energy
  • Inna New Energy
  • Janaenergy Technology
  • Jiana Energy
  • Kite Rise Technologies GmbH
  • Lepu Sodium Power
  • Libode New Material
  • Li-Fun Technology
  • LiNa Energy
  • Lucky Sodium Storage
  • Nacoe Energy
  • Natrium Energy
  • Natron Energy
  • NGK Insulators
  • Nippon Electric Glass
  • Paragonage
  • Qi Na New Energy
  • Ronbay Technology
  • Sodion Energy Pte. Ltd.
  • Stora Enso Oyj
  • Svolt Energy
  • Tiamat Energy
  • Weifang Energy Technology Co., Ltd.
  • Zoolnasm (Zhongna Energy)

Methodology

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