Global Zinc-Air Battery Market Expected to Reach $521.1 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Zinc-Air Battery Market," The global zinc-air battery market size was valued at $350.20 million in 2022, and is estimated to reach $521.1 million by 2032, growing at a CAGR of 4.2% from 2023 to 2032. Zinc-air battery is a type of metal-air battery that works by oxidizing zinc and reducing oxygen to produce power. The battery is naturally lightweight and efficient since this electrochemical process employs air oxygen as a reactant. Zinc-air battery's three primary components are zinc anode, air cathode, and electrolyte. During discharge, zinc oxidizes at the anode, releasing electrons that go to the cathode via an external circuit, where oxygen reduction occurs. This electron movement generates electrical energy, which may be used for several reasons. During the charging phase, this process is reversed, allowing zinc to be electrochemically deposited back onto the anode.

The resilience and long cycle life of zinc-air batteries contribute significantly to their attractiveness for a wide range of applications. Cycle life refers to the number of charge and discharge cycles a battery may go through while retaining a particular level of performance. Zinc-air batteries have an excellent cycle life when properly developed and produced, making them suitable for applications needing long-term endurance. This quality is extremely beneficial in grid energy storage systems and renewable energy integration, where batteries may be charged and discharged several times. Ongoing R&D initiatives in the field of zinc-air batteries are driving continuous technological improvements. These advances seek to address concerns such as energy efficiency, power density, and overall performance.

One of the major issues with zinc-air batteries is power density. Despite their high energy density, these batteries struggle to produce power at standard battery rates. Because of this limitation, they are less suitable for applications needing rapid charging and discharging, such as electric vehicles or high-power electrical devices. The battery's practical utility is restricted in some conditions due to the comparatively slow kinetics of the oxygen reduction and evolution processes at the air electrode. Another problem with zinc-air batteries is electrolyte evaporation. The electrolyte, which is required for electrochemical reactions within the battery, may evaporate with time, resulting in decreased performance and capacity. This evaporation is particularly visible in open-system zinc-air batteries, which draw air from their surroundings. These factors are anticipated to restrain the zinc-air battery market share in the coming years.

As part of ongoing R&D, scientists and engineers are striving to address various challenges associated with zinc-air batteries. One example is the issue of limited rechargeability. While zinc-air batteries may be refilled, there are concerns about performance degradation after several charge and discharge cycles. Addressing this restriction is crucial for ensuring the long-term viability of zinc-air batteries and their competition with alternative energy storage technologies. Collaborations between companies, universities, and government organizations are essential for the development of zinc-air battery technology. To realize their full potential, it is vital to fund and support research initiatives focused at improving the efficiency, durability, and scalability of zinc-air batteries. Zinc is a commonly accessible and recyclable metal that fits nicely with the global drive towards more environmentally friendly energy sources. These factors are anticipated to have positive impact on the zinc-air battery market forecast.

The zinc-air battery market analysis is segmented on the basis of type, application, and region. By type, it is classified into non-rechargeable and rechargeable. By application, it is divided hearing aids, safety lamps, military devices, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America.

The key players profiled in the zinc-air battery industry report include Duracell, Electric Fuel Battery Corporation, ZAF Energy System, Ravoyac, Nantenergy, Varta AG, GP Batteries, Phinenergy, Renata SA, and Thunderzee.

The report offers a comprehensive analysis of the global zinc-air battery market trends by thoroughly studying different aspects of the market including major segments, zinc-air battery market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the zinc-air battery market growth. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the zinc-air battery market opportunities. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Zinc-Air Battery Market

• The zinc-air batteries industry faced a mixed impact during the COVID-19 pandemic, despite its high energy density and potential usage in electric vehicles (EVs) and renewable energy storage.
• On the contrary, the pandemic highlighted the importance of reliable and long-term energy solutions, leading to increased interest in renewable technologies such as zinc-air batteries. Supply chain disruptions had an influence on the production of crucial components used in zinc-air batteries.
• Zinc, a vital component in these batteries, encountered mining, processing, and shipping challenges, leading to shortages and price rises. Mine and industrial facility closures during lockdowns impeded the availability of raw materials needed for the fabrication of zinc-air batteries. Therefore, manufacturing delays occurred, impacting the larger supply chain, and causing a ripple effect throughout the sector.

Key Findings of the Study

• Based on type, the non-rechargeable sub-segment emerged as the global leader in 2022 and the rechargeable sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on application, the hearing aids sub-segment emerged as the global leader in 2022 and the others sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, Asia-Pacific registered the highest market share in 2022 and is projected to maintain its position during the forecast period.