Gel Polymer Electrolytes Market Outlook 2031
- The global gel polymer electrolytes market was valued at US$ 10.6 Mn in 2021
- It is estimated to grow at a CAGR of 12.9% from 2022 to 2031
- The global gel polymer electrolytes market is expected to reach US$ 35.7 Mn by the end of 2031
Gel Polymer Electrolytes Market Introduction
Demand for gel polymer electrolytes has been rising, as they combine the advantages of liquid electrolytes and solid electrolytes such as safety and mechanical and thermal stability. Compared to conventional liquid and solid polymer electrolytes, they are omnipresent in cells, covering the pores of electrode material particles and even the pores of separators. As a result, in situ gel polymer electrolytes (GPEs) have no electrode/electrolyte contact issues. Companies in the global market are increasing their R&D in leakproof gel polymer electrolytes that help dissolve high concentrations of two lithium salts in water; and provide excellent water spill-proof, coolant, and good polymer matrix to remove liquid and solid components altogether.
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Rise in Demand for Lithium-Ion Batteries to Drive Global Gel Polymer Electrolytes Market
The global electric vehicles market is estimated to reach a valuation of ~US$ 5 Bn by the end of 2022. This can be ascribed to the high demand for electric vehicles in developed and developing countries. Polymer electrolytes are made up of polymers and lithium salts, which help provide better charge to batteries. Demand for lithium-ion batteries is rising due to their lower price than alternatives such as aluminum-air batteries, durability, and better recharging option for users. They are also safer than hydrogen fuel cells. These batteries possess a better battery management system. In most cases, gel polymer batteries are used due to the stability of polymers in liquid-ion batteries. Gel polymer batteries provide a conductive medium, which keeps the electrolyte separate, thus providing more energy.
However, manufacturers often struggle to maintain the balance between higher energy production and rapid discharge issues. Gel polymer electrolytes play a vital role in terms of balancing such incumbent properties and provide up to 1000 cycles with 75% depth of discharge. This keeps the battery charged for a longer period. Lithium-ion batteries with gel polymer electrolytes are used as secondary cells in the automotive industry. They can be recharged and reused hundreds of times with more stability. Therefore, advantageous uses of gel polymer electrolytes in automotive parts and accessories are expected to fuel the market growth during the forecast period. The rise in demand for PVA gel electrolytes for supercapacitors is a key factor boosting the demand for gel polymer electrolytes, as these electrolytes help provide the basic property of charging fast and discharging at a slow pace to supercapacitors.
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Increase in Adoption of Renewable Batteries to Propel Demand for Gel Polymer Electrolytes
Electronics are used widely for energy purposes in industries such as telecommunication, computer technology, automotive, and transportation. Gel polymer electrolytes are employed in electronics through lithium-ion batteries and fuel cells to enhance specific properties such as higher computing power. Fuel cells produced with gel polymer electrolytes exhibit an ionic conductivity of high voltage. They also exhibit wide electrochemical windows, high charge capacity, and low capacity-decay rates. The gel polymer electrolytes market has been expanding due to the consistent rise in technological advancements and increase in consumer purchasing power, which is driving interest in electronic gadgets.
Polyvinylidene Fluoride (PVDF) to Remain Dominant in Gel Electrolytes Types
Polyvinylidene fluoride (PVDF) based, polyethylene oxide (PEO) based, polypropylene oxide (PPO) based, polymethyl methacrylate (PMMA) based, polyvinyl chloride (PVC) based, polyacrylonitrile (PAN) based, hybrid gel electrolytes (HE) based, etc. are the types of gel polymer electrolytes. The polyvinylidene fluoride (PVDF) segment held a key share of 48.1% in 2021 and is expected to maintain the status quo with a growth rate of more than 9.1% during the forecast period. The high demand for polyvinylidene fluoride (PVDF) gel polymer electrolytes can be primarily ascribed to their excellent abrasion resistance, good thermal stability, and high dielectric strength. They also provide high resistance to creep under long stress and resistance to most chemicals and solvents. Demand for polyvinylidene fluoride is increasing primarily due to the rise in demand for lithium-ion batteries and fuel cells. PMMA gel electrolyte segment is expected to register a fast revenue growth in a global market during the forecast period.
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Regional Outlook of Global Gel Polymer Electrolytes Market
Asia Pacific held the largest volume share of 53.8% of the global gel polymer electrolytes market in 2021. The high share of the region was primarily attributed to the large demand for gel polymer electrolytes in lithium-ion batteries and fuel cell industries, which contributed 58.2% and 18.9% share, respectively, in Asia Pacific in 2021. China accounts for almost one-third of the overall gel polymer electrolytes market in Asia Pacific. North America and Europe are also key consumers of gel polymer electrolytes, which held value shares of 17.2% and 10.5%, respectively, in 2021. Supercapacitors and fuel cells are the fastest growing applications of gel polymer electrolytes in these regions. Latin America is a larger consumer of gel polymer electrolytes than the Middle East & Africa.
Analysis of Key Players in Global Gel Polymer Electrolytes Market
The global gel polymer electrolytes market comprises small and large companies in the manufacturing sector. Small companies account for a prominent share of the market. Several companies are investing significantly in comprehensive research and development, primarily to develop more efficient products. Key vendors in gel polymer electrolytes market are grabbing incremental opportunities in a global market.
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