The global aluminum-based battery market is anticipated to grow at a CAGR of 2.7% during the forecast period. Aluminum-based battery such as aluminum-ion battery offers the advantage of a volumetric capacity that is four times higher compared to lithium. Additionally, aluminum is the most abundant metal on the earth. The companies are making efforts to make it cost-efficient. For instance, Graphene Manufacturing Group, a clean technology company in Australia is expected to launch graphene aluminum ion in the market in 2021 or next year. The batteries could charge time up to 22 to 60 times faster than lithium-ion batteries.
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Further, the increasing demand for electric vehicles owing to the government support for zero-emission vehicles is offering an opportunity for market growth. The aluminum-air battery is used in electric vehicles owing to its high energy density and safety. The Aluminum-air technology is safer as it uses only a water-based electrolyte that is free from toxins and has a wide range of temperature operability. However, aluminum is easily affected by corrosion due to the presence of carbon dioxide in the air, and when these batteries are stored for a longer period, the electrolyte corrodes the aluminum anode and within a month the battery loses almost 80% of the charge. Additionally, the higher cost is involved in the installation of charging stations for electric vehicles are further hindering the growth of the market.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Aluminum Based Battery Market by Application
- Industrial
- Automotive
- Others
Global Aluminum Based Battery Marketby Type
- Aluminum-Ion Battery
- Aluminum-Air Battery
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Shenzen Nova
- AEGegPowertools
- BASF
- Cell-Con, Inc.
- Duracell Inc.
- Eagle-Picher Technologies, LLC
- Energizer Holdings, Inc.
- GP Batteries International Ltd.
- Harding Energy Inc.
- Johnson Controls Inc.
- Panasonic Corp.
- Phinergy
- Power-Sonic Corp.
- Sony Corp.
- Spectrum Brands Holdings, Inc.
- Supreme Batteries Pvt. Ltd.
- Taurac
- Uniross
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global aluminum-based battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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