SNE Research: All-solid-state batteries are expected to be commercialized in the next three years, with fierce competition in China, Japan, South Korea, the United States and Europe

SNE Research, a new energy vehicle battery market research organization, held a two-day NGBS 2022 (Next Generation Battery Symposium) at COEX in Seoul from April 13 to 14, and announced the next generation battery technology development and battery materials at NGBS 2022 development trend.

BusinessKorea reported that market research firm SNE Research said some companies are expected to start producing all-solid-state batteries in 2024 or 2025.

“SES recently announced that its target year is 2024 and Toyota’s target year is 2025,” it added, “LG Energy Solutions plans to start mass production of polymer-based all-solid-state batteries in 2026 and sulfide production in 2030. base batteries. And Samsung SDI’s target year is 2027.”

According to SNE Research, the global all-solid-state battery market is expected to grow from 2.1GWh to 30GWh between this year and 2025, and then reach 160.1GWh in 2030. “The segment’s share of the overall EV battery market is expected to increase from 0.3 percent to 2 percent between this year and 2025, and then to 3.8 percent in 2030,” it said.

“All-solid-state batteries are broadly divided into oxide, sulfide and polymer-based batteries, which are expected to account for 18%, 29% and 37% of the segment, respectively, by 2030, while hybrid all-solid-state batteries account for 13% of the market share,” it explained.

In addition, SNE Research estimates that the global demand for solid electrolytes for rechargeable batteries is 350 tons in 2025, 17,500 tons in 2028, and 76,000 tons in 2030.

It is expected to reach USD 141 million (KRW 0.2 trillion) in 2025, USD 1.75 billion (KRW 2.1 trillion) in 2028, and USD 3.8 billion (KRW 4.6 trillion) in 2030, which are 12 times and 146 times that of 2022, respectively. They are 12 million US dollars (14.5 billion won), which is 317 times.

SNE Research predicts that by 2030, the expected application ratio of all-solid-state batteries in the small IT market is 11.0%, the xEV market is 3.1%, and the ESS market is 0.3%, with market sizes of 18GWh, 116GWh and 1GWh, respectively.

Analysts predict that the production of all-solid-state batteries will be mainly produced by Japanese companies such as Toyota and South Korean companies in the early stage, and then other Chinese, American and European companies will also participate, and the competition will be fierce.

According to SNE Research, as the all-solid-state battery market begins to grow in 2025, with the IT market as the core, it will be fully applied in xEVs around 2027, and the all-solid-state battery market is expected to blossom. To this end, it is necessary to focus on the development of solid electrolyte technology.