Silicon-based Anode Market Size

Silicon-based Anode Market size was valued at USD 763.52 million in 2024 and is expected to cross USD 618.92 billion by the end of 2037, expanding at more than 67.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of silicon-based anode is estimated at USD 1.17 billion.

The major factor driving the growth of the market is a surge in demand for electric vehicles. In 2022, over 9 million electric vehicles were sold all across the globe and this number is set to boost by about 34% which equates to approximately 13 million this year. Hence, with this, the silicon-based anode is projected to grow since these are considered to be next-generation batteries.

A large number of organizations are working towards integrating the use of silicon-based anode batteries in their electric vehicles in order to reduce the e emission of greenhouse gasses. Graphite as cathode was the most extensive material used in EV batteries till now. However, it is projected that graphite has high carbon intensity. Therefore, the adoption rate of silicon-based anode is set to surge. Additionally, the government of different countries is encouraging the adoption of electric vehicles and launching various schemes with the aim of influencing people. As a result, the market revenue might grow in the coming years.