Zinc Battery Market Size, Share, Industry Growth Analysis Report by Product Battery Type (Zinc-air, Nickel-zinc, Zinc-ion, Zinc-bromine), Rechargeability (Primary & Secondary), Application (Medical, Utilities, Automotive & Transportation, Industrial, Consumer Devices) and Region - Global Forecast to 2029
[236 Pages Report] The Global Zinc Battery Market size is estimated to be USD 1.0 billion in 2024 and is projected to reach USD 2.0 billion by 2029, at a CAGR of 13.6% during the forecast period. Some of the major factors contributing to the growth of the zinc battery market include as the abundance of zinc material, its benefits over other battery technologies, and increasing global investments in grid infrastructure. Increasing reliance on data centers and the development of rechargeable zinc-air batteries are expected to provide growth opportunities for market players.
Zinc Battery Market Forecast to 2029
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Zinc Battery Market Dynamics:
Driver: Benefits over other battery chemistries
Zinc batteries offer a unique combination of characteristics that make them a competitive option in the battery market. Their high energy and power performance closely follows that of lithium-ion batteries, providing efficient energy storage and delivery. Economically, they are second only to lead-acid batteries, offering a low-cost solution. Moreover, zinc batteries ensure fully safe behavior, being non-toxic and non-flammable, which enhances their appeal for various applications. Additionally, they are environmentally friendly due to their recyclability and the abundant availability of zinc, making them a sustainable choice for the future.
Furthermore, the affordability of zinc batteries is deeply rooted in the abundance of its raw materials. This inherent cost advantage positions zinc batteries competitively against lithium-ion alternatives. Additionally, the safety-centric chemistry of zinc batteries translates to minimal additional costs associated with mitigating battery-related risks, further enhancing its economic appeal. Sustainability is another driving force, with zinc batteries boasting 100% recyclable electrodes and devoid of environmentally harmful elements like lead, cadmium, or mercury. This eco-friendly profile aligns with the growing demand for greener energy solutions, expanding the market. Zinc batteries have emerged as a formidable force shaping the future of energy storage across various sectors, combined with their high-performance characteristics, including superior energy density and rapid recharging capabilities. For instance, zinc bromine batteries outperform other battery chemistries with superior energy density, enduring cycle life, and scalable capacity, making them ideal for diverse energy storage needs. Their environmentally friendly composition, low-cost raw materials, and simple recyclability further solidify their position as a promising solution, particularly for stationary applications.
Restraint: Technical drawbacks of zinc battery
major issue is dendrite growth on zinc anodes, which reduces coulombic efficiency and cycling stability, potentially leading to short circuits, reduced battery life, and safety concerns. Another critical factor is the corrosion of zinc anodes, which leads to capacity loss, reduced efficiency, and overall degradation of battery performance. Additionally, hydrogen evolution during the operation of zinc batteries impacts their efficiency and safety, necessitating strategies to suppress this side reaction to improve overall performance.
Mechanical flexibility is another concern, as some materials used for zinc anodes cannot adapt to volume changes during charge and discharge cycles, hindering battery performance enhancement. Electrolyte challenges, including issues with pH levels and ion migration, can also influence dendrite growth and the overall stability of zinc batteries, making electrolyte modification crucial.
Opportunity: Increasing reliance on data centers
As the reliance on data centers intensifies worldwide, the demand for highly efficient power backup systems becomes increasingly critical. The rapid advancements in artificial intelligence and machine learning catalyze a profound transformation in data center paradigms, influencing everything from design to investment decisions. According to the report, published in January 2024, Data Centers 2024 Global Outlook, by 2027, the average rack density is anticipated to soar to 50kW per rack, outpacing the present average of 36kW, as data center operators strive to accommodate the surging computational requirements driven by AI and machine learning applications. With data centers serving as the nerve centers of our digital infrastructure, any disruption in the power supply can have far-reaching consequences, impacting businesses, communications, and essential services. Consequently, as the number of data centers continues to surge globally, it creates a compelling opportunity for the zinc battery industry to thrive.
Challenges: Presence of alternative battery technologies
The presence of alternative battery technologies for applications such as consumer electronics, utilities, and medical poses a significant challenge for zinc batteries, which can impact its adoption in various applications. These alternative technologies include lithium-ion batteries, sodium-sulfur batteries, and lead-acid batteries, each offering advantages. Presently, the manufacturers of zinc batteries face fierce competition from the providers of these widely adopted conventional batteries, including lithium-ion, lead-acid, and sodium-based. For instance, lithium-ion batteries are widely preferred due to their higher energy density and faster charge/discharge capabilities. Sodium-sulfur batteries are comparatively less expensive and boast a longer lifespan, while lead-acid batteries are also known for their affordability and easy maintenance. Consequently, potential customers may opt for these alternatives instead of zinc batteries.
Zinc Battery Market Ecosystem
The prominent players in the zinc battery market are Eastman Kodak Company (US), Panasonic Energy Co., Ltd. (Japan), Duracell Inc. (US), and Energizer Holdings, Inc. (US), GP Industries (China), Phinergy (Israel), ABOUND (Canada), ZAF Energy Systems, INC (US), Renata SA (Switzerland), Enerpoly AB (Sweden), Salient Energy (Canada) , and Imprint Energy (US) etc. These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
Zinc-air batteries lead the zinc battery market
These batteries are the primary ones that are being widely used in medical applications. Companies such as Eastman Kodak Company (US), ABOUND (Canada), ZAF Energy Systems, INC (US), Energizer Holdings, Inc. (US), and Renata SA (Switzerland) offer zinc-air batteries. However, due to the increasing demand for rechargeable batteries, companies are now focusing on developing rechargeable zn-air batteries. ZAF Energy Systems, INC,(US) offers zinc air rechargeable batteries.
Secondary battery type segment to account for the largest market share during the forecasting period.
A secondary battery is a type of electrochemical battery that can be discharged and recharged multiple times by reversing the chemical reactions that occur during discharge. It is also called a rechargeable battery. Unlike primary batteries, which are designed for one-time use and cannot be recharged, secondary batteries are capable of being reused, making them a more sustainable and cost-effective option in the long term.
Zinc-ion batteries, zinc-bromine batteries, and nickel zinc batteries are basically secondary batteries. Companies such as Enerpoly AB (Sweden), Salient Energy (Canada), Redflow Limited (Australia), Zn2H2 Inc. (US), Æsir Technologies, Inc. (US), ZincFive (US) offer these secondary batteries.
Medical applications segment to hold largest market share during the forecast period.
Zinc-air batteries are the most common type used in hearing aids due to their small size and lightweight nature, making them ideal for powering compact and discreet hearing devices. These batteries are available in various sizes to accommodate different styles and models of hearing aids, ensuring compatibility across a wide range of devices. Zinc-air batteries offer good energy density, allowing them to deliver consistent and reliable power to hearing aids for extended periods. This is particularly important for individuals who rely on their hearing aids throughout the day, as they can trust that their devices will remain operational without frequent battery changes. The stable voltage output of zinc-air batteries also ensures consistent sound quality and amplification, enhancing the overall listening experience for users.
Asia Pacific segment is likely to dominate the zinc battery market during forecast period.
The region is a major battery manufacturing hub with several zinc battery manufacturers. Hence, the high expertise in the battery industry is expected to help the new and emerging battery technologies flourish in the region. Large zinc production in China and the use of zinc batteries in the automotive and transportation industry will drive market growth in the Chinese region. Favorable government policies and rapid technological developments in the Japanese region will drive market growth in the country.
Asia Pacific to hold largest market share during the forecast period.
Zinc Battery Market by Region
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The region is a major battery manufacturing hub with several zinc battery manufacturers. Hence, the high expertise in the battery industry is expected to help the new and emerging battery technologies to flourish in the region. Cutting edge research across on zinc batteries to offer lucrative growth opportunities for South Korean zinc battery market while rapid technological advancements and favorable government policies to drive market in the Japanese zinc battery market.
Top Zine Battery Companies - Key Market Players
Eastman Kodak Company (US), Panasonic Energy Co., Ltd. (Japan), Duracell Inc. (US), and Energizer Holdings, Inc. (US) are among the major players in the zinc battery market. Other companies in the market are ZincFive (US), Phinergy (Israel), GPIndustrial (China), ABOUND (Canada), ZAF Energy Systems, INC (US), Renata SA (Switzerland), Enerpoly AB (Sweden) and others.
Zinc Battery Market Report Scope :
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Report Metric |
Details |
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Estimated Market Size |
USD 1.0 billion in 2024 |
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Projected Market Size |
USD 2.0 billion by 2029 |
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Growth Rate |
CAGR of 13.6% |
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Market Size Availability for Years |
2020–2029 |
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Base Year |
2023 |
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Forecast Period |
2024–2029 |
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Forecast Units |
Value (USD Million) |
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Segments Covered |
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Geographies Covered |
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Companies Covered |
The major players include Eastman Kodak Company (US), Duracell Inc. (US), Panasonic Energy Co., Ltd. (Japan), Energizer Holdings, Inc. (US). |
Zinc Battery Market Highlights
This research report categorizes the zinc battery market by battery type, rechargeability , application, and region available at the regional and global level
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Segment |
Subsegment |
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Based on Rechargeability: |
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Based on Battery Type: |
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Based on Application: |
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Based on the Region: |
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Recent Developments in Zinc Battery Industry :
- In April 2024, Panasonic Energy Co., Ltd., a Panasonic Group company, announced the completion of a state-of-the-art production development facility at its Suminoe factory in Osaka, Japan. This advanced facility, focused on next-generation manufacturing, is designed to enhance the company's manufacturing capabilities, increase its global production capacity, and serve as a central hub for the development of production process technology.
- In March 2024, ABOUND announced the establishment of a Memorandum of Understanding (MOU) with a technology firm, introducing an innovative, eco-friendly, green energy solution to the market. This technology, similar to Zaeras, offers diverse, secure, and sustainable energy solutions that contribute to positive societal advancement.
- In November 2023, ZincFive announced the launch of two additions to its BC Series UPS Battery Cabinet range: the BC 2 – 500 and the BC 2 – 300X. Additionally, ZincFive also announced the Z5 13-90, a cutting-edge ultra-high-rate battery designed to fuel the newly launched battery cabinet models.
- In April 2021, Phinergy (Israel) and Doral Renewables LLC officially announced the co-operation and that they started working in the field of energy storage project.
- In June 2020, ABOUND announced the establishment of a wholly owned US subsidiary, named Zinc8 Energy Solutions (USA) Inc., headquartered in New York state.
Key Questions Addressed by the Report:
Who are the key players in the Zinc battery market? What are the major growth strategies they have taken to strengthen their position in the market?
Major players of zinc battery market include Eastman Kodak Company (US), Panasonic Energy Co., Ltd. (Japan), Duracell Inc. (US), and Energizer Holdings, Inc. (US). These companies offer a wide portfolio of zinc batteries with global presence across various countries to meet the requirements of customers. Strategies such as acquisitions, product launches, collaborations, agreements and contracts were adopted by these companies to withstand the competitive landscape of this market.
What are the new opportunities for emerging players in the zinc battery value chain?
In the value chain of zinc batteries, established players have various new prospects to explore. These include opportunities such as the advancement of zinc battery chemistries, applications in various industries such as automotive & transportation, medical, and utilities.
Which application of the zinc battery market is expected to drive the market's growth in the next five years?
During the projected timeframe, the medical sector is anticipated to experience a more substantial expansion. This market segment's growth can be attributed to the need for cost effective zinc battery solutions for the medical industry.
Which region to offer lucrative growth for the zinc battery market by 2029?
During the projected period, it is anticipated that the Asia Pacific will take the lead in the zinc battery market. Also, the Asia Pacific region is expected to experience the highest growth rate from 2024 to 2029.
Which battery type of the zinc battery market is expected to drive the market's growth in the next five years?
The secondary battery segment is expected to grow at a higher rate during the forecast period. The growth of this market segment can be attributed to the requirement for a rechargeable zinc battery.
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The study involved four major activities for estimating the zinc battery market size. Exhaustive secondary research has been conducted to collect information relevant to the market, its peer markets, and its child market. Primary research has been undertaken to validate key findings, assumptions, and sizing with industry experts across the value chain of the zinc battery market. Both top-down and bottom-up approaches have been employed to estimate the complete market size. It has been followed by the market breakdown and data triangulation methods to estimate the size of different segments and subsegments of the market.
Secondary Research
The research methodology used to estimate and forecast the size of the zinc battery market began with the acquisition of data related to the revenues of key vendors in the market through secondary research. Various secondary sources have been referred to in the secondary research process for identifying and collecting information for this study. Secondary sources include annual reports, press releases, and investor presentations of companies; white papers, journals, certified publications, and articles by recognized authors; websites; directories; and databases. Secondary research has mainly been used to obtain key information about the supply chain of the zinc battery market, the value chain of the market, key players, market classification, and segmentation according to the industry trends to the bottom-most level, geographic markets, and key developments from both market and technology-oriented perspectives. Secondary data has been collected and analyzed to determine the overall market size, further validated through primary research. The secondary research referred to for this research study involves the International ZInc Association (IZA), NAATBatt, Clean Energy Council. Moreover, the study involved extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect valuable information for a technical, market-oriented, and commercial study of the zinc battery market. Vendor offerings have been taken into consideration to determine market segmentation.
Primary Research
In the primary research, various primary sources from both the supply and demand sides have been interviewed to obtain the qualitative and quantitative information relevant to this report. Primary sources from the supply side include the key industry participants, subject-matter experts (SMEs), and C-level executives and consultants from various key companies and organizations in the zinc battery ecosystem. After the complete market engineering (including calculations for the market statistics, the market breakdown, the market size estimations, the market forecasting, and the data triangulation), extensive primary research has been conducted to verify and validate the critical market numbers obtained. Extensive qualitative and quantitative analyses have been performed during the market engineering process to list key information/insights throughout the report. Extensive primary research has been conducted after understanding the zinc battery market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand and supply-side players across key regions, namely, the Americas, Europe, Asia Pacific, and the Rest of the World (Middle East, Africa, and South America). Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents.
Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This and the in-house subject matter experts’ opinions have led us to the findings described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The total size of the zinc battery market has been estimated and validated using both top-down and bottom-up approaches. Furthermore, these methods have also been used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size is as follows:
- Identifying different entities influencing the value chain of the zinc battery market
- Identifying major companies, system integrators, and service providers operating in the market
- Estimating the size of the zinc battery market for each region based on demand for zinc batteries
- Tracking the ongoing and upcoming zinc battery projects to forecast the market size based on these developments and other critical parameters
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.
Global Zinc Battery Market Size: Bottom-Up Approach
Global Zinc Battery Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall size of the zinc battery market from the market size estimation process explained above, the total market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated using both top-down and bottom-up approaches.
Market Definition
Zinc batteries are a type of battery that use zinc as the main electrode. These batteries can be primary as well as secondary type. Zinc batteries offer various advantages over other battery technologies such as high safety, cost-effectiveness, longer life-cycle, high specific energy and power. Further, these batteries include various chemistries such as zinc-air, nickel-zinc, zinc-ion, and zinc-bromine.
Stakeholders:
- Zinc battery manufacturers
- Technology providers
- Material providers
- Government bodies and industry associations
- Research Institutes and Organizations
- Battery Cell and Battery Pack Manufacturers
- Equipment suppliers
- System integrators
- Electronic device and electric vehicle manufacturers
Report Objectives
- To define, describe, segment, and forecast the size of the zinc battery market by battery type, rechargeability, and application in terms of value
- To describe and forecast the market for four main regions, namely, the North America, Asia Pacific, Europe, and RoW, in terms of value
- To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
- To provide a detailed overview of the value chain of the zinc battery ecosystem
- To strategically analyze micro-markets with respect to individual growth trends, prospects, and their contributions to the overall market
- To strategically analyze the ecosystem, Porter’s five forces, regulations, region-wise regulations, upcoming technologies in the market, revenue shift model in the market, patent landscape, trade landscape, and case studies pertaining to the market under study
- To analyze opportunities in the market for the stakeholders by identifying high-growth segments in the market
- To strategically profile key players and provide details of the current competitive landscape
- To analyze strategic approaches adopted by players in the zinc battery market, such as product launches and developments, acquisitions, collaborations, agreements, contracts, expansions, and partnerships
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Company Information:
- Detailed analysis and profiling of additional market players based on various blocks of the value chain.
Growth opportunities and latent adjacency in Zinc Battery Market