Page 178 - CW E-Magazine (6-5-2025)

Special Report

Sodium-ion batteries set to challenge dominance

of lithium variants in energy storage

he global sodium-ion battery contributing to their environmental Cost competitiveness is challenging
(SIB) market was valued at friendliness and simpler recycling the dominance of LIBs
TUS$438.0-mn in 2024 and is processes. One of the primary advantages of
projected to hit the market valuation SIBs is their cost-effectiveness com-
of US$2,104.8-mn by 2033 at a Technological innovations are pushing pared to LIBs. The abundance of
CAGR of 21.68% during the forecast the boundaries of performance sodium translates to lower raw material
period 2025–2033, according to Astute Recent technological advancements costs, with sodium carbonate priced at
Analytica, a market research fi rm. have signifi cantly improved the perfor- approximately $290 per metric tonne,
mance and viability SIBs. Researchers compared to lithium carbonate (99.5%
SIBs are emerging as a formidable have developed new materials that battery grade) at around $35,000 per
alternative to traditional lithium-ion enhance energy density, making SIBs a metric tonne. This signifi cant diffe-
batteries (LIBs), driven by their cost- cost-effective and sustainable alterna- rence in raw material costs contributes
effectiveness, sustainability, and promis- tive to LIBs. For instance, the introduc- to the overall lower cost of SIBs.
ing performance characteristics. As tion of sodium vanadium phosphate as
of 2025, this technology is garnering a new material has led to higher voltage As of 2024, the average cost for
signifi cant attention from businesses, and greater effi ciency in SIBs. Compre- sodium-ion cells is estimated to be
investors, manufacturers, and new hensive analyses of key components $87 per kilowatt-hour (kWh), slightly
entrants in the energy storage sector. such as cathodes, anodes, electrolytes, cheaper than lithium-ion cells at $89/
and separators have been conducted kWh. The manufacturing cost for sodium-
The growing interest in SIBs stems to address the challenges in SIB tech- ion cells is even more competitive at
from the abundance of sodium, which nology. These studies aim to optimize approximately $50/kWh, compared to
is more readily available and less ex- each component to improve the over- $70/kWh for lithium-ion cells.
pensive than lithium, making SIBs an all effi ciency and longevity of the
economical choice for large-scale ap- batteries. The cost advantage of SIBs is expected
plications. This shift towards is further to improve further as the technology
fuelled by continuous improvements in Major manufacturers have made matures and production scales up. With
battery performance, such as enhanced signifi cant strides in improving the a projected improvement rate of 57% in
energy density and longer cycle life, technical specifi cations of SIBs. CATL, SIB technology, the cost is expected to
making them increasingly competitive a leading battery manufacturer, has decrease signifi cantly, potentially reach-
in the market. achieved an energy density of 160-Wh/ ing around $10/kWh by 2028. This rapid
kg with its fi rst-generation SIB, with cost reduction is driven by technological
The environmental benefi ts of SIBs next-generation batteries aiming to advancements and economies of scale as
is particularly noteworthy. SIBs offer a exceed 200-Wh/kg. Another prominent production volumes increase.
safer and more environmentally friendly player, HiNa Battery, has developed
alternative to LIBs, which are prone to SIB cells with an energy density of While SIBs currently have lower
thermal runaway. The manufacturing 140-Wh/kg, supporting fast charging at energy densities compared LIBs, they
process of SIBs has seen signifi cant rates of 3C to 4C. These advancements offer signifi cant cost advantages in
improvements, with studies showing a are crucial for making SIBs a viable applications where energy density is
43-57% decrease in climate impacts from alternative to LIBs in various appli- less critical, such as stationary energy
2020 to 2050. This reduction is partly cations, including grid storage, electric storage systems. As technological
due to advancements in the battery vehicles, and consumer electronics. advancements continue to improve their
manufacturing process, which has seen performance and reduce costs, SIBs
a decrease in its relative contribution to As research and development con- are becoming increasingly competitive
the overall environmental impact. Fur- tinue, we can expect further improve- across a broader range of applications,
thermore, SIBs are noted for their lower ments in energy density, cycle life, and challenging the dominance of LIBs in
toxic and hazardous material content, overall performance of SIBs. the energy storage market.

178 Chemical Weekly May 6, 2025

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