Zinc Air Batteries Market Report Scope & Overview:

The Zinc Air Batteries Market size was valued at USD 124.45 million in 2023 and is expected to grow to USD 225.29 million by 2031 with a growing CAGR of 7.7% over the forecast period of 2024-2031.

Due to its safety, high energy density, and low cost, the zinc-air battery is one of the most promising contenders for next-generation batteries for energy storage. For the development of high-performance rechargeable Zn-air cells as well as electrocatalysts, there are numerous difficulties in electrolytes. The vital component of rechargeable Zn-air batteries that determines their capacity, cycle stability, and longevity is an electrolyte. This study examines the most recent developments in the design and production of electrolytes for flexible and aqueous Zn-air batteries.

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The surface reaction interactions between the air, catalyst, electrolyte, and electrolyte-zinc reaction process were discussed. We focus on three alternative electrolytes used in zinc-air batteries that have recently undergone significant development: aqueous electrolyte, room-temperature ionic liquid, and quasi-solid flexible electrolyte. Additionally, the broad perspective is suggested for creating and by creating electrolytes to enhance the functionality and increase the lifespan of Zn-air batteries.

MARKET DYNAMICS

KEY DRIVERS:  

• Rising use of zinc batteries

• Increased Zinc-Air Battery Capacity and Economic Advantage

• Increasing Zinc-Air Battery Research and Development Activities

RESTRAIN:

• Mercury-related health issues cause a decline in the use of zinc-air batteries.

The product's significant lack of demand is caused by mercury, which is thought to be harmful to health. The threat of a lithium-ion battery, which may be a less expensive option in the near future because it is allegedly more powerful, durable, and long-lasting, is added to this. These elements may result in a stagnation of this market.

OPPORTUNITY: 

• Rise in demand for Zink Air batteries for hearing aids.

Replacement of mercury cell with zinc air batteries

CHALLENGES:

• Electrolyte and anode corrosion in zinc-air batteries

The corrosion between the electrolyte and the anode in zinc-air batteries is one of their most serious problems. The battery is dangerous because of the potential for explosive hydrogen gas to result from their interaction. However, studies have shown that the production of hydrogen gas is decreased when zinc alloys with lead, mercury, cadmium, and lead oxides are used. On the other hand, minute amounts of mercury present in zinc-air batteries may be harmful to people. These batteries have a potential for mercury leakage, which raises the danger of mercury poisoning. So, businesses use zinc nanoparticles to enhance the anode's performance.

KEY MARKET SEGMENTATION

By Type

• Non-Rechargeable

• Rechargeable

By Application

• Hearing Aids

• Military Devices

• Safety Lamps

• Others

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REGIONAL ANALYSIS

Asia-Pacific, which now holds a 43.67% market share, is predicted to be the region driving the growth of the worldwide zinc-air battery market. Throughout the predicted period, this region is also expected to continue to dominate. The installation of enormous electric vehicles in nations like China, India, and South Korea has raised demand for zinc-air batteries. Additionally, zinc-air batteries provide an economical energy storage system, which is why the market is anticipated grow to increase within the predicted time. Additionally, government spending on zinc-air batteries in India has created new market potential for the zinc-air batteries industry worldwide are employed in electric cars. The market will probably be driven by this factor in the next years. In 2021, the IEA reported that there were more than 10 million electric vehicles on the road.

The adoption of battery-electric vehicles on the world's highways in 2020 will fuel the growth of zinc-air batteries. Moreover, the zinc-air battery industry has expanded favorably in North America and Europe. This is explained by the fact that the European Union has strict standards and regulations and that the government supports sustainable renewable energy. Throughout the anticipated time, production has pushed the market.

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

RECENT DEVELOPMENTS

• A firm named The Tunderzee released a new, cutting-edge zinc-air battery in January 2021. Compared to the lithium-ion battery, the alternative is more affordable, lighter, safer, and productive.

• In order to be certified to the UL/CAS battery safety standard, the Canadian start-up Zinc8 energy solution has conducted numerous tests on zinc-air energy storage systems, and demonstration projects are currently under way in October 2021.

• A deployment agreement between Zinc8 Energy Solutions and Digital Energy Corporation (US) for the installation of a unique zinc-air energy storage system at Fresh Meadows LLC in Queens, New York, was announced in January 2022.

• Zinc-air batteries were created in December 2021 as a lithium-ion battery substitute and offer a 20,000-hour operational life and more than eight hours of storage.

• Phinergy and the green energy firm Doral signed a memorandum of agreement in April 2021 regarding an energy storage project that will use Phinergy's zinc-air technology solutions. According to the memorandum, Phinergy will be in charge of equipment replacement, installation, operation, training, maintenance, and integration with Doral's energy facilities.    

KEY PLAYERS

The Major Players are Duracell (U.S.), Ravoyac (U.S.), Nantenergy (U.S.), Electric Fuel Battery Corporation (U.S.), ZAF Energy System (U.S.), Varta AG (Germany), GP Batteries (Hong Kong), Phinenergy (Israel), Thunderzee (U.S.), Renata SA (Switzerland), AZA Battery (Belgium) and other players are listed in a final report.

Electric Fuel Battery Corporation (U.S.)-Company Financial Analysis