The global zinc-based battery market is anticipated to grow at a significant CAGR of 5.8% during the forecast period. A zinc-based battery is a rechargeable battery using zinc as an anode. It powers various applications such as electric vehicles, toys, drones, cameras, flashlights, and so on. The main element used in these batteries is zinc which is the fourth most abundant element and is much cheaper as compared to other materials used in lithium-ion or nickel-metal hydride batteries. The market for the zinc-based battery is expected to show significant growth due to increasing demand for consumer electronics such as cameras, laptops, game players, toys, and others. In addition, the increasing market of electric vehicles further augments the growth of the market in the future. Another major factor driving the growth of the market includes the low cost of zinc-based batteries as compared to other batteries such as lithium-ion batteries and nickel-cadmium batteries. However, factors such as the presence of alternatives in the market and the low shelf life of zinc-based batteries hinder the growth of the market.
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It is challenging to use lithium batteries for stationary applications. Zinc-based batteries are an alternative to lithium batteries which are rapidly gaining popularity. The zinc-ion batteries had been studied to be 50% economical than standard lithium-ion batteries by Salient Energy, Inc. Additionally, it is safer and lasts longer as compared to lithium batteries.
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Global Zinc-Based Battery Market Segmentation
By Type
- Zinc-Air Battery
- Nickel-Zinc Battery
- Zinc-Silver Battery
- Carbon-Zinc Battery
- Zinc-Chloride Battery
- Zinc-Mn Battery
By Usability
- Primary Battery
- Secondary Battery
By End-User
- Automobile
- Consumer Electronics
- Industrial
- Others
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