Sodium Ion Battery Market was valued at US$ 994.7 Mn. in 2021. Global Sodium Ion The sodium-ion battery has established itself as a large-scale and low-cost substitute for lithium-ion batteries all over the world. The sodium metal in sodium-ion batteries has a larger ionic radius than lithium metal in lithium-ion batteries, resulting in reduced alterations in the material properties during electrochemical cycling and thus more stability than the lithium-ion battery. Sodium-ion batteries have excellent characteristics such as low cost, similar energy densities, and power storage to their counterparts, improved thermal stability, and long cycle life, among others. In comparison to mobile applications, sodium-ion batteries are better suited for stationary applications.
Market size is expected to grow at a CAGR of 11.7%.
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