Look at the frontier
Recently, the Korea Advanced Institute of Science and Technology (KAIST) announced that a research team led by Kang Jeong-gu of the Department of Materials Science and Engineering has developed a high-energy, high-power hybrid sodium-ion battery that is capable of fast charging. Jiang Jiongjiu said: "The hybrid sodium-ion energy storage device will be a new breakthrough that can overcome the limitations of the current energy storage system. It can be extended to the application of all electronic devices, including electric vehicles. The results of this study have been published in the international academic journal Energy Storage Materials.
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Technical Value Observation
The energy storage battery industry chain can be divided into upstream raw materials and equipment, midstream energy storage systems and integration, and downstream power system energy storage applications. The upstream raw materials of energy storage batteries mainly include cathode materials, anode materials, electrolytes, separators and structural parts. The upstream integrated system equipment mainly includes coating machines, mixers, etc. The midstream of the industrial chain is mainly the integration and manufacturing of energy storage systems, and for a complete energy storage system, it generally includes four components: battery pack, battery management system (BMS), energy management system (EMS) and energy storage converter (PCS). The application scenarios in the downstream of the industrial chain are mainly power system energy storage on the power generation side, grid side and user side.
A sodium-ion battery is an electrochemical energy storage device that uses the movement of sodium ions between the positive and negative electrodes for charging and discharging. The Korea Advanced Institute of Science and Technology (KAIST) has developed a high-energy, high-power hybrid sodium-ion battery that breaks the limitations of traditional energy storage systems. Therefore, from the perspective of the energy storage battery industry chain, the battery technology is in the middle of the industrial chain.
Macro Market Watch
——The material cost of sodium-ion batteries is lower and the price is more advantageous
The cost of sodium-ion batteries with NaCuFeMnO/soft carbon system is lower than that of lithium-ion batteries with lithium iron phosphate/graphite system, which can be reduced by 30-40%. From the perspective of cost material structure, the cost of cathode materials for lithium-ion batteries accounts for the highest proportion, at 43%, while the cost of cathode materials for sodium-ion batteries is only 26%.
-- The global sodium-ion battery market has grown significantly
At present, more than 20 sodium-ion battery companies around the world have preliminarily developed related battery products, and have been small-scale demonstration applications in some fields such as power base station energy storage, electric bicycles, data centers and low-energy industrial forklifts, and the sodium-ion battery industry has begun to take shape. At the same time, in 2022, the commercialization process of new products such as the world's major leading companies such as Faradion in the United Kingdom, Natron Energy in the United States, and Zhongke Haina and CATL in China will further accelerate, and once technological breakthroughs are made, the scale of the industry will grow significantly.
According to the report data released by BIS Research, a global research institution, the global sodium-ion battery market size will be about 528 million US dollars in 2021 and about 549 million US dollars in 2022, of which the Asia-Pacific region has become the largest market for the application of sodium-ion battery related products due to the rapid growth of the new energy market.
——The United States, Britain and France are the main countries in the world for the deployment of sodium-ion batteries
The major regions covered by the global sodium-ion battery market are North America, Europe, and Asia-Pacific. From the perspective of specific countries, the countries with global deployment of sodium-ion batteries mainly include the United States, the United Kingdom, France, China, Japan, Sweden and Australia.
——The sodium-ion battery officially entered the stage of commercial operation
At present, there are six companies in China's sodium-ion battery industry that are developing sodium-ion batteries, among which CATL announced the first-generation sodium-ion battery and lithium-sodium hybrid battery pack of CATL in July 2021. By adding Prussian white material with high gram capacity (up to 60mAh/g, which is equivalent to common lithium battery cathode materials), the bulk phase structure of the material was rearranged. In terms of anode materials, CATL has also developed a new type of hard carbon material, whose unique pore structure can bring the advantages of high gram capacity, easy de-intercalation, and optimal circulation.
In addition, in 2021, Zhongke Haina announced that it would jointly build a 2,000-ton sodium-ion battery cathode and anode material production base with Huayang Group. The world's first 1MWh sodium-ion battery optical storage and charging intelligent microgrid system, jointly launched by the Institute of Physics of the Chinese Academy of Sciences and Zhongke Haina, was officially put into operation in Taiyuan Comprehensive Reform Zone, Shanxi Province, marking the official entry of sodium-ion batteries into the stage of commercial operation.
——Sodium-ion batteries are expected to be used in both energy storage and power
Based on the battery capacity performance, battery cycle life and battery safety of sodium-ion batteries, sodium-ion batteries are expected to be used in two fields of energy storage and power in the future:
In the field of power, sodium-ion batteries will be used in both two-wheeled vehicles and electric vehicles. In the field of two-wheeled vehicles, sodium-ion batteries are expected to gradually replace lead-acid batteries due to their relatively low energy density and high safety. Among them, electric vehicles are expected to be applied through the integrated system of sodium-ion batteries and lithium-ion batteries announced by CATL.
In the field of energy storage, on July 15, 2021, the National Development and Reform Commission and the National Energy Administration issued the "Guiding Opinions on Accelerating the Development of New Energy Storage", proposing to accelerate the large-scale test and demonstration of flywheel energy storage, sodium-ion batteries and other technologies, and explore the research and demonstration application of hydrogen storage, heat storage and other innovative energy storage technologies based on demand. Therefore, driven by policies, sodium-ion batteries are expected to accelerate the application of energy storage on the grid side, power consumption side and power generation side.
——The global sodium-ion battery market is expected to exceed $2.3 billion in 2028
According to the policy planning of the sodium-ion battery industry in many countries, after long-term technology research and development, sodium-ion battery related products have also begun to form commercial applications, and the sodium-ion battery market is expected to grow significantly in the near future.
According to BIS Research, the global sodium-ion battery market revenue size was about $528 million in 2021 and is expected to reach $4.36 billion in 2031, with a compound annual growth rate of 23.5% from 2022 to 2031. According to preliminary estimates, the market size of the global sodium-ion battery industry will be about US$810 million in 2023 and will exceed US$2.3 billion by 2028.
Heat map of China's energy storage battery technology track
According to the forward-looking industry heat map, the city clusters strongly associated with the key technology of energy storage batteries are mainly concentrated in South China, and Shenzhen is the key development area, and the future layout of energy storage battery technology and other related technologies The development path of energy storage battery technology and other related technologies is very likely to be introduced in South China, which can focus on the energy storage battery related enterprises in Longhua District, Baoan District and Pingshan District of Shenzhen, Guangdong Province, as well as the potential space of the local investment environment for the industrial development of energy storage batteries and the supply market.
Prospective Economist APP Information Group
For more research and analysis of this industry, please refer to the "Market Prospect and Investment Strategic Planning Analysis Report of China's Sodium-ion Battery Industry" by the Prospective Industry Research Institute.
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