Although still in its infancy, the global market for sodium-ion batteries is expected to be worth over $11 billion by 2033.
Lithium-ion batteries are everywhere. They're used in consumer electronics, electric vehicles and as repositories for excess renewable energy like wind and solar.
Sodium-ion batteries have a similar design to their lithium-ion counterparts and can be manufactured using related methods. Both battery types generate electricity through a chemical reaction and are made up of an anode, cathode, separator and an electrolyte. Sodium-ion batteries have been around for decades, but large-scale development of the technology was abandoned in favor of lithium-ion batteries. The technology is now getting a second look.
Sodium-ion batteries can't provide the type of range for electric vehicles offered by lithium-ion batteries, but they do present some unique advantages. For instance, the materials used in sodium-ion batteries tend to be cheaper than those in lithium-ion batteries.
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