NEW YORK, April 12, 2018 (GLOBE NEWSWIRE) -- Global high purity silicon oxide (SiOx) nanopowder market is expected to expand at a CAGR of 38.9% from 2019 to 2024. Factors propelling the growth of high purity silicon oxide (SiOx) nanopowder market include increasing demand for batteries with higher energy capacity for applications in consumer electronics & utility storage, high cost of Li-ion batteries, and demand of high specific energy batteries in electric vehicles. High purity Silicon oxide (SiOx) nanopowder is used as anode material in Lithium-ion batteries; it increases the energy capacity of the batteries and significantly reduces battery cost. The report segments the high purity silicon oxide (SiOx) nanopowder market by Structure Type (P-Type Silica, S-Type Silica), by Manufacturing Method (Sol-Gel, Physical Vapor Deposition, Thermal Oxidation), by Application (Consumer Electronics, Electric Vehicles, Utility Storage), and by Region (North America, Europe, Asia-Pacific, and Rest of the World (RoW). This report studies the global high purity silicon oxide (SiOx) nanopowder market over the forecast period (2019-2024). High purity silicon oxide (SiOx) nanopowder is used in lithium-ion batteries most suited for consumer electronics and electric vehicle applications. High purity silicon oxide (SiOx) nanopowder is one of the most adjustable and versatile nanomaterials in the market, with widespread availability of surface modified variants. High purity silicon oxide (SiOx) nanopowder as anode coupled with lithium based cathode results in increased energy capacity and low manufacturing cost of lithium batteries.
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Key Findings from Global High Purity Silicon Oxide (SiOx) Nanopowder Market
- Consumer Electronics is expected to hold the major share of the high purity silicon oxide (SiOx) nanopowder market. Increasing demand for high energy capacity batteries for phones, tablets and other electronics is set to propel the high purity silicon oxide (SiOx) nanopowder market.
- Application in electric vehicles is expected to grow at the fastest rate during the forecast period, as high purity silicon oxide (SiOx) nanopowder increases energy capacity of the battery resulting in a significant increase in distance travelled by electric vehicles.
- Geographically, Asia-Pacific region will be leading the high purity silicon oxide (SiOx) nanopowder market and is anticipated to be the fastest growing market for high purity silicon oxide (SiOx) nanopowder, over the forecast period. Huge population with wide demographic for consumer electronics and a growing market for electric vehicles is set to propel the high purity silicon oxide (SiOx) nanopowder market during the forecast period.
- Key players in high purity silicon oxide (SiOx) nanopowder market are LG Chem Ltd., Panasonic Corporation, Samsung SDI Co., Ltd., Tesla, Toshiba Corporation, BYD Co. Ltd., Wanxiang, Johnson Controls Inc., and Hitachi, Ltd. and U.S. Silica Co. among others.
High purity silicon oxide (SiOx) nanopowder - material of choice for anode of Lithium-ion battery
High purity silicon oxide (SiOx) nanopowder is a revolutionary nanomaterial, which has potential to eventually replace the conventional graphite anode in lithium-ion batteries. High purity silicon oxide (SiOx) nanopowder had been in research phase for applications in lithium-ion batteries. New research has shown that high purity silicon oxide (SiOx) nanopowder tackles the volume expansion issue of silica, thereby making it viable for commercial use. Use of high purity silicon oxide (SiOx) nanopowder increases the energy capacity of the lithium-ion battery, which makes it ideal for applications in consumer electronics. High purity silicon oxide (SiOx) nanopowder tackles the mileage issue of electric vehicles, increasing the mileage almost two folds while making the battery size more compact. Furthermore, using low-cost silicon as raw material and induction melting apparatus for manufacturing significantly reduces manufacturing cost of the lithium-ion battery.
High Purity Silicon Oxide (SiOx) Nanopowder Market- Regional Insight
Asia-Pacific is expected to hold the largest market share of high purity silicon oxide (SiOx) nanopowder market, in 2019 and is expected to dominate the market, throughout the forecast period. High demand of consumer electronics along is set to drive the growth in this region. China, India, South Korea, and Japan are the key regional markets in the region offering pool of opportunities for the manufacturers. North America is expected to be one of the key markets in the global high purity silicon oxide (SiOx) nanopowder market. The demand for high energy capacity lithium-ion batteries for applications in electric vehicles and utility storage would drive the growth of high purity silicon oxide (SiOx) nanopowder market in the region. Europe, as a leading region in automotive sector is continuously seeking new smart materials, which would result in high adoption rate of high purity silicon oxide (SiOx) nanopowder.
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