Zinc Bromine Battery Market Size, Share, Trends, Growth and Forecast 2032

Zinc Bromine Battery Industry Prospective:

The global zinc bromine battery market size was worth around USD 0.26 billion in 2023 and is predicted to grow to around USD 1.81 billion by 2032, with a compound annual growth rate (CAGR) of roughly 24.18% between 2024 and 2032.

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Zinc Bromine Battery Market: Overview

Zinc bromine battery (ZBB) is an emerging class of rechargeable battery that has gained extreme momentum in the last few years. ZBBs operate leveraging bronze and zinc to create electric energy and have shown promising applications in electric vehicles as well as energy storage systems. According to market experts, zinc-bromine batteries are safer alternatives to traditionally used accident-prone lithium-ion (Li-ion) batteries.

Moreover, the production of ZBB is considered more cost-effective in comparison to other alternatives. Generally, zinc bromine batteries utilize zinc-based anode and carbon material cathode-containing bromine. Furthermore, an aqueous solution of Zinc Bromide (ZnBr) is used as the electrolyte solution. Zinc bromine batteries have 4 main components consisting of electrolytes, two electrodes, and a membrane separator. During the forecast period, the demand for zinc-bromine batteries is projected to deliver significant growth results driven by multiple factors.

For instance, there is growing scope for alternate solutions to lithium-ion batteries as the end-user demand continues to grow. In addition, growing research on overcoming the current limitations of zinc bromine batteries will further impact the overall revenue in the market. One of the most prominent challenges for zinc bromine battery manufacturers is managing the dendrite growth on zinc anodes and ensuring consistent battery performance.

Key Insights:

• As per the analysis shared by our research analyst, the global zinc bromine battery market is estimated to grow annually at a CAGR of around 24.18% over the forecast period (2024-2032)
• In terms of revenue, the global zinc bromine battery market size was valued at around USD 0.26 billion in 2023 and is projected to reach USD 1.81 billion by 2032.
• The zinc bromine battery industry is projected to grow at a significant rate due to the increasing focus on alternatives to lithium-ion batteries.
• Based on electrolyte type, the acidic segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on application, the residential segment is anticipated to command the largest market share.
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period.

Zinc Bromine Battery Market: Growth Drivers

Increasing focus on alternatives to lithium-ion batteries will drive market demand rate

The global zinc bromine battery market is expected to grow due to the growing focus on developing novel alternatives to lithium-ion batteries. According to recent market trends, the future growth of Li-ion batteries is plagued with several challenges. One of the prominent concerns for Li-ion battery makers is the limited supply of essential raw materials required for the production of lithium-ion batteries.

For instance, materials such as nickel, cobalt, and lithium are available in limited quantities, and the supply of the raw materials depends heavily on external social and political factors. Furthermore, excessive mining of lithium and cobalt has led to severe forms of environmental pollution. These events have impacted ecological systems, causing water depletion and loss of natural habitat. The demand for lithium-ion batteries continues to grow exponentially due to the increase in end-user applications ranging from consumer electronics to electric vehicles.

However, there is a growing gap in the demand and supply of lithium-ion batteries, forcing relevant stakeholders in the industry to seek other alternatives, including zinc bromine batteries. Market research indicates the several advantages of using zinc bromine batteries. They can be easily recycled and do not pose any safety threat. Additionally, they are equipped with higher energy density than Li-ion batteries, making them ideal for several energy storage applications. The low-cost production of zinc bromine batteries is an added benefit for battery makers worldwide.

Increased demand for affordable electric vehicles to promote market expansion trends in the future

The usage rate of zinc bromine batteries is expected to further benefit from the increasing demand for affordable electric vehicles (EVs). In recent times, the automotive industry worldwide has witnessed a surge in demand for energy-efficient vehicles. EVs are an excellent alternative to fuel-powered vehicles that are known to cause environmental damage. The development of favorable policies from regional governments promoting innovations in the EV sector will further assist in fueling the demand in the global zinc bromine battery market. For instance, India currently provides subsidies of up to INR 1,50,000 for electric cars.

Zinc Bromine Battery Market: Restraints

Competition from alternate batteries, including Li-ion counterparts, will limit the industry’s expansion rate

The global zinc bromine battery industry is expected to be restricted due to the high competition the industry faces from alternate batteries. For instance, the commercial market across industries continues to be dominated by lithium-ion batteries facilitated by the existence of a mature market and robust supply chain. In addition, ongoing research in the exploration of sodium-ion batteries with higher performance indexes may further fragment the number of consumers for zinc bromine batteries.

Zinc Bromine Battery Market: Opportunities

Rising level of research & development (R&D) for ZBBs will create expansion possibilities

The global zinc bromine battery market is expected to generate growth opportunities due to the growing levels of R&D toward the development of high-performance batteries. In July 2024, researchers from the Institute of Integrated Technology at Gwangju Institute of Science and Technology and Graduate School of Energy Convergence announced the development of a novel nitrogen-doped mesoporous carbon-coated thick GF (NMC/GF) electrode.

With the development of the novel solution, the researchers aim to overcome one of the significant technical limitations of using ZBBs in the form of a higher rate of self-discharge, affecting the lifespan and performance of zinc-bromine batteries. The scientists used a cost-effective and simple evaporation-induced self-assembly method to fabricate NMC/GF electrodes. Gelion, a leading developer of next-generation battery technologies, launched the Gelion Endure battery storage platform.

The company acquired an additional AUD 10 million in fundraising and was expected to mass-produce zinc-bromine gel battery technology for commercial applications at a cost of below $100/kWh by the end of 2021. The industry for ZBBs is expected to gain momentum due to the growing demand for commercial and residential energy storage solutions, including grid systems. The continuous rise in energy demands worldwide will create expansion possibilities for ZBB producers.

Zinc Bromine Battery Market: Challenges

Technical limitations of ZBBs to challenge market expansion rate in the future

The global industry for zinc bromine batteries is projected to be challenged by the several technical limitations of ZBBs. For instance, a major cause of concern with zinc bromine batteries is the quick self-discharge observed in the batteries compared to lithium-based counterparts. It also affects the overall performance of the equipment powered by ZBBs. Furthermore, zinc bromine batteries are sensitive to temperature, which affects the final product performance.

Zinc Bromine Battery Market: Report Scope

Zinc Bromine Battery Market: Segmentation

The global zinc bromine battery market is segmented based on electrolyte type, technology, application, capacity, and region.

Based on the electrolyte type, the global market segments are alkaline, neutral, and acidic. In 2023, the highest growth was listed in the acidic segment, which dominated nearly 45.01% of the overall revenue. Acidic electrolytes have a pH level of less than 7 and are known to impart higher stability and energy density. However, these batteries necessitate the use of specialized materials to prevent corrosion. During the forecast period, acidic electrolytes are expected to continue fueling the segmental demand rate.

Based on technology, the global zinc bromine battery industry is divided into advanced flow battery and flow battery.

Based on the application, the global market segments are industrial, commercial, residential, and grid-scale. In 2023, the highest growth rate was listed in the residential segment, driven by increased demand for energy storage solutions. Moreover, the surge in the installation of solar panels across residential buildings and households worldwide is facilitating the adoption of zinc bromine batteries.  The grid-scale segment is projected to continue more rapidly in the coming years with increased investments in novel grid-based technologies. By the end of the forecast period, the global power grid market is expected to be valued at over USD 414 billion.

Based on capacity, the global market segments are high capacity, medium capacity, and low capacity.

Zinc Bromine Battery Market: Regional Analysis

Asia-Pacific to emerge as the highest revenue generator during the forecast period

The global zinc bromine battery market will be led by Asia-Pacific during the forecast period. China is anticipated to emerge as the leading contributor to regional revenue, driven by several favorable factors.

For instance, China has an existing ecosystem that facilitates the production of lithium-ion and other batteries in large volumes. In addition, the presence of several players interested in exploring the development and application of zinc bromine batteries will be critical to China’s growth rate in the coming years.

For instance, in June 2024, PetroChina, China’s leading oil & gas company, announced the integration of the company’s first zinc-bromine flow battery energy storage system at the Mahu 078 well site located in Xinjiang. Through this move, PetroChina is one step closer to its  "zero carbon" initiative.

Furthermore, the increased production rate of affordable and luxury electric vehicles (EVs) has created tremendous growth scope for developers of efficient zinc bromine batteries. China is the largest producer and supplier of EVs. The country has maintained consistent favorable policies influencing the manufacturing of electric vehicles for passenger and commercial applications.

Zinc Bromine Battery Market: Competitive Analysis

The global zinc bromine battery market is led by players like:

• Redflow Limited (ceased operations in 2024)
• Primus Power
• EnSync Energy Systems (formerly ZBB Energy Corporation)
• EnerSys
• Hindustan Zinc (collaborating with AEsir Technologies)
• Exxon (historical research contributions)
• Vionx Energy
• Lockheed Martin Corporation
• Johnson Controls (historical involvement)
• ZBB Energy Corporation (now known as EnSync Energy Systems)
• Sandia National Laboratories (historical research contributions)
• Gildemeister Energy Solutions
• AEsir Technologies (partnering with Hindustan Zinc)
• TETRA Technologies Inc.
• Gelion Technologies Pty Ltd.

The global zinc bromine battery market is segmented as follows:

By Electrolyte Type

• Alkaline
• Neutral
• Acidic

By Technology

• Advanced Flow Battery
• Flow Battery

By Application

• Industrial
• Commercial
• Residential
• Grid-Scale

By Capacity

• High Capacity
• Medium Capacity
• Low Capacity

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa