Impact Of COVID-19 On All vanadium redox flow battery Market Research Report

The global all vanadium redox flow battery market was valued at USD 140 million in 2019 and is expected to reach USD 370 million by 2026, expanding at a CAGR of around 8.5 % during the forecast period, 2020 – 2026. The growth of the market is attributed to increasing demand for large scale energy storage units with a longer life cycle.

All vanadium redox flow battery is type of battery which uses vanadium ions in various oxidization states to store potential chemical energy. It consists of a group of power cells where a proton exchange membrane separates the two electrolytes. The electrolyte in the positive half-cells has VO2+ and VO2+ ions, the electrolyte in the negative half-cells has V3+ and V2+ ions which are dissolved in sulfuric acid and this solution remains strongly acidic for use. The electrodes in the battery are based on carbon due to better performance of carbon nano tubes.

On the basis of product types, the market is divided into graphene electrodes and carbon felt electrodes. Graphene electrodes are preferred majorly in the batteries due to better conducive nature, permeability, electrochemical stability, low cost, and a large surface area. There are developments been made to resolve its poor kinetics by electrochemical oxidation, thermal activation, and nitrogen doping.

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