The Next Generation Batteries Are Built Through Nanotechnology – Explore

Nanotechnology is the field of science that is conducted at nanscale. Nano batteries are fabricated batteries that are manufactured by using nanotechnology. These batteries may size less than hundred nanometers or ten meters. Nano sizing can offer the required space for deformation, can provide better energy storage system, and can solve the problem of mechanical stress, Nano batteries are also considered more resistant to failure. Lithium ion technology, lithium iron phosphate technology, nano pore technology, and nano phosphate technology are some kinds of battery technologies in the production of nano battery.

With the growing popularity of electric vehicles across the globe, the demand of?lithium-ion batteries?is also increasing. Other than that, lithium-ion batteries are widely used in consumer gadgets, medical devices, and space & military sectors. These batteries are superior to other types of rechargeable batteries such as lead acid, nickel metal hydride, nickel metal batteries, nickel cadmium, etc. Li-ion batteries are power packs as they have the highest electrical storage capacity. They are perfect for applications in both high power density & high energy density. In fact, spacecraft like James Webb Space Telescope are expected to use lithium-ion batteries in the future.

According to a report published by Allied Market Research, the?global Nano battery market?size is anticipated to reach $28.1 billion with a considerable CAGR from 2021 to 2030. North America is currently holding the highest market share and is expected to witness the highest growth rate during the forecasted period. This is owing to presence of major market players, rapid growth of electric vehicle, and rise in demand for renewable energy in the developed economies such as the U.S., Canada, and others.

However, the outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global Nano battery market, especially in the initial stage. The pandemic implemented the global lockdown in order to prevent the spread of virus, which in turn, forced all the battery manufacturing hubs to close their operation for a specific period. As the production of Nano battery was hampered, the demand for Nano battery from the end user industries decreased significantly. Also, factors such as disruptions in the supply chain, rise in price of raw materials, and unavailability of labour force created several challenged for the manufacturers. Nevertheless, the market has already started to recover since 2021 and is expected to get back on track soon.

In addition, several researchers across the world are innovating various batteries and are focusing on improvement in nanotechnology. For instance, researchers at USC are developing Li-ion batteries that can be?recharged within ten minutes. They are making this by using silicon nanoparticles in the anode of the battery that can prevent the cracking of the electrode. Meanwhile, researchers at Georgia Tech have discovered that that usage of oxide coated antimony nanocrystals in the anode of Li-ion batteries may prevent mechanical degradation of the anode to a great extent. with this drift on board, the global Nano battery market is definitely going to gather huge growth in the near future