BOSTON, May 5, 2022 /PRNewswire/ -- It is impossible to
avoid headlines about the "graphene battery"; the concept of this
Nobel Prize winning nanomaterial revolutionizing the energy storage
market is naturally very enticing. Graphene could play a role as an
enabling material for next generation batteries, there is lots of
promising R&D and industrial activity to support this, but it
is graphene's older sibling carbon nanotubes that have progressed
beyond the hype and disillusionment phases of their commercial
journey by finding a value-add high volume energy storage adoption.
A "CNT battery" is not popular branding nor headline news, it is
the everyday commercial reality.
The lithium-ion battery market is skyrocketing. IDTechEx
forecast that the demand from electric vehicles (across land, sea,
and air, but predominantly for cars) will approach 5,000 GWh within
a decade from under 500 GWh today. A large proportion of the cost,
performance and safety are linked with the battery; naturally
making it a huge source of innovation and media attention.
IDTechEx has released their latest report on "Carbon Nanotubes
2022-2032: Market, Technology, Players". This report includes
granular 10-year volume and value forecasts segmented by end-use
applications for both MWCNTs and SWCNTs, player profiles, and
benchmarking studies.
The CNT market is expected to exceed 70 ktpa by 2032, a
remarkable increase from where we are today. This far outstrips
current capacity, which will need to be scaled accordingly, the
start of which is already being observed. This is a very high
figure but to put this in context the carbon black market
comfortably exceeds 10 million tonnes per year (specialty carbon
black is the fairer comparison, but this segment is still orders of
magnitude larger than this forecast figure). The carbon black
market is important to consider not only as a competitive incumbent
conductive carbon additive, but also as a case study for a more
mature market with a consolidated number of players, global
production, and considerably smaller margins.
The upcoming success is attributed to the use of MWCNTs as a
conductive additive in the cathode for lithium-ion batteries. This
is introduced as a slurry with other additives, the amount of
loading depending on the active material, and price-performance
considerations. The nanotubes are used for their excellent
conductive and mechanical properties with an advantageous 1D
morphology. There are numerous advantages including the potential
to use thicker electrodes, operate at higher C-rates, and many
more. Please see the IDTechEx report "Carbon Nanotubes
2022-2032: Market, Technology, Players" for more.
This success is clearly being seen through the market activity.
The largest company, Cnano, have numerous ties to battery
manufacturers, particularly in China, LG Chem is scaling production for both
LG Energy Solution and beyond, Cabot Corporation acquired SUSN
citing the role of CNTs in battery applications, and Toyocolor
announced in 2021 they will supply into SK Innovation. There are
countless other players including notable Korean companies of JEIO
and Kumho Petrochemical who stated to IDTechEx that they are
planning expansions. The days of the MWCNT start-ups are gone.
It cannot be overstated that not all CNTs are the same and the
energy storage landscape is still rapidly evolving. Before this
generation of lithium-ion batteries has reached maturity, new
generations and disruptive technologies appear on the horizon. This
ranges from the short-to-mid-term upcoming adoption of silicon
anodes, the expected longer-term successes in solid state
batteries, and the likes of Li-S and Li-air still needing a
stepwise improvement. Then there is beyond lithium-ion, e.g.
Na-ion, and into supercapacitors. These will not all be discussed
in this article; the reader is directed to "Advanced Li-ion and
Beyond Lithium Batteries 2022-2032: Technologies, Players, Trends,
Markets" for more information.
Then there is the opportunity beyond MWCNTs in the cathode.
Single-walled carbon nanotubes continue to explore the energy
storage space with the likes of OCSiAl, particularly with the new
2021 investor Daikin Industries, Zeon Corporation, and Zeta Energy
making announcements here. There are also hybrid products, such as
CB-CNT developments by Birla Carbon
and CHASM Advanced materials, making progress in anode
improvements. Vertically aligned CNTs (VACNTs) are making progress
in ultracapacitors with an eye for battery applications, most
notably shown by Nawa Technologies.
Finally, there is also the geopolitical backdrop that cannot be
ignored. This not only influences the battery material market and
subsequent design choices but is also having notable supply chain
implications.
For more information on the CNT market, the energy storage
applications and beyond see the market report "Carbon Nanotubes
2022-2032: Market, Technology, Players". For information on the
graphene market see the market report "Graphene Market & 2D
Materials Assessment 2021-2031".
About IDTechEx
IDTechEx guides your strategic business decisions through its
Research, Subscription and Consultancy products, helping you profit
from emerging technologies. For more information, contact
research@IDTechEx.com or visit www.IDTechEx.com.
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Moreton
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press@IDTechEx.com
+44(0)1223 812300
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SOURCE IDTechEx