Zinc Battery Market Size, Share and Growth Analysis

Updated on : October 23, 2024

Zinc Battery Market Size & Growth

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, growing at a CAGR of 13.6% during the forecast period from 2024 to 2029.

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 size Forecast to 2029

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Zinc Battery Market Trends and 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 Battery Market Segmentation

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.

Zinc Battery Industry Regional Analysis

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),
• Energizer Holdings, Inc. (US) are among the major players in the zinc battery companies. 

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 :

Zinc Battery Market Highlights

This research report categorizes the zinc battery market share by battery type, rechargeability , application,  and region available at the regional and global level

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:

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