Redox Flow Batteries (RFB) have seen initial success in the 1970s but their biggest opportunity may come with the arrival of a new and appropriate demand. This is according to a new report from Zhar Research entitled, “Redox Flow Batteries: 26 Market Forecasts, Roadmaps, Technologies, 48 Manufacturers, Latest Research Pipeline 2024-2044”.
The report states that RFB had a tougher time competing with the likes of lithium-ion batteries and supercapacitors. This was due to the fact that RFB look more like a chemical factory, rather than a component, and contain very corrosive, acid, and expensive vanadium salts with toxicity issues.
However, the report predicts that RFB will pivot, and find success in the “beyond-grid” sector. This includes the battery in solar houses, islands, mines, telecom towers, military bases, hospitals, schools, and farms.
Dr Peter Harrop, CEO of Zhar Research said: “At last, redox flow battery sales are climbing rapidly and, on the 20-year view, the new chemistries, particularly for the beyond-grid market will do particularly well. This industry is pivoting to new success. However, VRFB has the largest installed base and most years of proven reliability. It has less issue of electrolyte crossover and it is neck-and-neck with alternatives in offering increasingly-longer duration of discharge demanded by greater percentages of wind and solar at a given site. VRFB will still sell well.”
The report suggests that RFB companies pivot to non-vanadium RFB which could create a $5 billion manufacturer in what will become an overall RFB market of over $20 billion in 2044.
The report is available from www.zharresearch.com and www.giiresearch.com.
