Metal-air battery consists of anode, cathode, and electrolyte and is made of metal anodes & porous cathodes, such as sodium, lithium, zinc, and others. These batteries are environmentally friendly, cost-effective, and the easy availability of raw materials are the prime properties that are contributing towards the use of these batteries as an alternative to Li-ion batteries. Besides, metal-air batteries offer 3-30 times higher energy density making these batteries a good alternative in electric vehicles.

Impact of COVID-19 on the Industry

The global metal-air battery market observed a decline in the growth rate during the COVID-19 pandemic. This is majorly attributed to disruption in battery supply chains due to lockdown imposed in various parts in the world, especially in China as it is the leading manufacturing hub for batteries. However, some of the manufacturers are taking initiatives and implementing various business tactics to sustain in the global industry. For instance, in February 2020, Indian Oil Corporation signed a strategic partnership with Phinergy to take on innovative technologies in the development, manufacturing, assembly and sales of aluminum-air batteries.

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Key Developments in the Industry

The key companies operating in the industry are adopting various growth strategies such as partnerships, collaborations, mergers & acquisitions, and product launches to acquire a strong position in the overall market, which is consequently helping the metal-air battery market to grow exponentially.

For instance, in March 2020, Zinc8 Energy Solutions, a developer of innovative battery technology that uses zinc and air as fuel, announced a Deployment Agreement with Digital Energy Corp, a New York-based private sector developer of Combined Heat & Power (CHP) plants, solar systems, and micro-grids. This deployment agreement is financially supported by the New York State Energy Research & Development Authority (NYSERDA), to install a 100kW/1.5MWh zinc-air energy storage system in Brooklyn, New York.

In September 2020, Indian Oil Corporation (IOC), an integrated oil company in India and across the globe, planned to offer a cost-effective alternative to lithium-ion (Li-ion) batteries for stationary applications and electric vehicles by launching the first-of-its-kind aluminum-air (Al-air) batteries. These Al-air batteries are likely to be manufactured at sites closer to demand centers such as Pune or Chennai.

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Forecast Analysis of Global Metal-air Battery Market

The global metal-air battery market is anticipated to observe a noteworthy growth over the forecast period, due to technological advancements in metal-air batteries to increase energy storage. Conversely, high investment is required to design and develop metal-air batteries, and this is expected to hamper the global market growth in the coming years.

The rising need for high energy density storage solutions and the growing shift to green energy sources to reduce environmental pollution are the significant factors predicted to accelerate the growth of the global metal-air battery market over the forecast period. According to a report published by Research Dive, the metal-air battery is expected to garner $1,123,100.0 thousand by 2027. Geographically, the Asia Pacific metal-air battery market is estimated to dominate the global industry, owing to surging demand for metal-air batteries from electronic, consumer electronics, and other industries in the region. The key players operating in the global industry include Arconic, Arotech Corporation, GPB International Limited, Fuji Pigment Co., Ltd., POLY PLUS, Zinc8 Energy Solutions Inc., E-Stone Batteries B.V., Log 9 Materials, NantEnergy Inc., and PHINERGY.

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