Global New Energy Mica Material Market Size Analysis
Sep 27, 2024
With the clarification of the global goal of "carbon neutrality", the global energy structure continues to shift to electrification and cleanness, and the new energy field has gradually become an emerging application sector of mica materials, mainly including new energy vehicles and electrochemical energy storage.
From 2017 to 2022, the global market size of new energy mica materials increased from 80 million yuan to 1.86 billion yuan, with a compound annual growth rate of 88.1% during the period.
In order to cope with the safety problems caused by battery thermal runaway, new energy vehicle manufacturers have adopted passive measures to reduce the risk of battery thermal runaway spread while continuously improving the safety performance of batteries. In addition to flame retardant performance, electrical insulation performance, weather resistance, heat conductivity and mechanical strength, passive protective materials need to be widely used in thermal runaway protection systems for new energy vehicles because of their highly adapted flame retardant insulation properties and excellent comprehensive properties
At the same time, the rapid development of clean energy has gradually brought about large-scale and systematic energy storage supporting needs, and electrochemical energy storage represented by lithium batteries will gradually become the mainstream energy storage method in the industry.
The explosive growth of electrochemical energy storage will also bring about an increase in the demand for refractory insulating materials such as mica to ensure the safety of energy storage battery systems and meet their applications in different scenarios such as power generation, distribution, and power consumption.
In the future, with the gradual maturity of mica material refining and application technology, the application of mica material in the field of new energy vehicles will expand from the power battery sector to more scenarios such as high-temperature insulation and protection parts of the whole vehicle, and penetrate into new energy commercial vehicles.
At the same time, the continuous growth of the installed capacity of electrochemical energy storage and the application of high energy density electrochemical energy storage batteries will further promote the rapid growth of the energy storage mica market. From 2023 to 2027, the global new energy mica materials market is expected to grow from 3.17 billion yuan to 12.37 billion yuan, with a compound annual growth rate of about 40.5% during this period.
