North America Silicon Anode Market Size to Hit USD 965 Million by 2030 | Exhibiting a CAGR of 40.8%

Pune, India, June 21, 2023 (GLOBE NEWSWIRE) — The North America silicon anode market size was valued at USD 55.9 million in 2022 and is projected to grow from USD 88.1 million in 2023 to USD 965 million by 2030, exhibiting a CAGR of 40.8% during the forecast period.

Silicon anodes are majorly used in lithium-ion silicon batteries and act as an extension. They have a great energy storage capacity and possess a longer battery life. Silicon is widely considered a promising anode material for lithium-ion batteries as it has a record power storage capacity, which is nearly 10 times greater than that of graphite used in commercial batteries. Silicon-based anodes and silicon composite anodes can also enhance the electrochemical performance of a silicon lithium battery. These advanced features will boost market growth.

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LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Amprius Technologies (U.S.)
• Enevate Corporation (U.S.)
• Sila Nanotechnologies Inc. (U.S.)
• Targray Technology International (Canada)
• SiFAB / Alkegen (U.S.)
• NanoGraf Corporation (U.S.)
• HPQ Silicon (Canada)
• ADVANO (U.S.)
• APPLIED MINERALS INC. (U.S.)
• California Lithium Battery (U.S.)
• Enovix Corporation (U.S.)
• EoCell, Inc (U.S.)
• Group 14 (U.S.)
• NEO Battery Materials LTD (Canada)
• NEXEON LTD (UK)
• OneD Battery Sciences (U.S.)
• Solid Power, Inc (U.S.)
• Ionblox Inc. (U.S.)

Report Scope & Segmentation:

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Segmentation:

>3000 mAh/g Capacity to Witness Robust Demand with High Need from End-use Industries

By capacity, the market is segmented into <=3000 mAh/g and >3000 mAh/g. The >3000 mAh/g segment is predicted to hold a dominant North American silicon anode market share during the forecast timeframe as silicon is quickly becoming one of the most sought-after anode materials as it has the highest theoretical capacity of 4200 mAh/g as compared to the traditional graphite anodes.

Booming Automotive Industry to Boost Product Demand

On the basis of end-use industry, the market is divided into automotive, consumer electronics, energy & power, industrial, and others. The automotive segment is expected to capture the largest market share as the region’s automotive industry is growing at a substantial pace, which is fueling the production of EVs, eventually boosting product demand.

By country, the North American market is divided into the U.S. and Canada.

Report Coverage:

The research report offers an in-depth analysis of this industry and highlights critical aspects, such as top companies, product capacities, and leading end-use industries. The report also provides insights into the most recent market trends and focuses on key industry developments. Apart from the abovementioned factors, it covers various factors contributing to the North American market growth in recent years.

COVID-19 Impact:

COVID-19-Induced Lockdowns Disrupted Supply Chains, Hampered Market Growth

The COVID-19 pandemic in 2020 caused a major impact on the sales of silicon-based anodes as the demand for these materials declined across several end-use sectors. However, the outbreak did not have a significant impact on the supply of raw materials to make silicon anodes as many OEMs had already searched for alternative suppliers to fulfill the short-term demand for these products. However, many others halted their production. The demand difficulties brought on by the pandemic had a severe effect on the region’s battery manufacturing sector. These hindrances impeded the regional market growth.

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Drivers and Restraints:

Growing Demand for Electric Vehicles (EVs) to Boost Market Growth

The demand for Electric Vehicles (EVs) is growing at a robust pace across the region as governments are taking various steps to reduce their carbon emissions. This scenario has also raised the demand for long-lasting, safe, and high-performing batteries in EVs as well as other applications, such as grid storage and consumer electronics. These factors are expected to bolster the usage of silicon anodes in EVs.

However, challenges faced during the lithiation process can restrict the usage of silicon anodes.

Country Insights:

U.S. to Capture Maximum Market Share during the Forecast Period

The U.S. captured a large market share in 2022 as the country’s automotive sector is showing robust growth every year. Also, other factors, such as a well-established automotive industry and the high disposable income of the country’s population are fueling the demand for silicon anodes. The companies working in the U.S. are also undertaking a wide range of research and development programs to make quality products, which will boost product demand.

Canada is also recording a notable rise in the sales of these anodes due to the country’s ever-expanding electronics and automotive industries.

Competitive Landscape:

Leading Companies Invest in R&D Activities to Increase Revenue

The North America market has a small presence of leading product suppliers that have captured a large share of the market. Some of these key market participants include Targray Technology International, Sila Nanotechnologies, Inc., Enevate Corporation, Amprius Technologies, and SiFAB/Alkegen. Most of these firms are investing in R&D activities to bring innovation to their products and increase their revenue margins.

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Detailed Table of Content:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Trends
  • Key Developments: Mergers, Acquisition, Partnership, etc.
  • Latest Technological Advancements
  • Insights on Regulatory Scenario
  • Porters Five Forces Analysis
• Qualitative Insights – Impact of COVID-19 on the Market
  • Supply Chain Challenges
  • Steps were taken by Government/Companies to overcome this impact
  • Potential opportunities due to the COVID-19 outbreak

TOC Continued…!

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Notable Industry Development:

February 2023: HPQ Silicon has planned to start a silicon-based battery material production line in North America for lithium-ion batteries. The company has also announced that it will opt for a green engineering process to produce its innovative materials. The growing demand for silicon is a major opportunity for the company to gain expertise and market share.

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