Magnesium Batteries In Industrial Applications Can Be An Alternative To Lithium-Ion Batteries

By Shubhendra Anand , 02 May, 2024

The magnesium metal market is growing due to its versatility in various sectors. The metal is widely used in different industrial applications. Thus, magnesium metal is expected to grow throughout 2024. Magnesium batteries will be an alternative to lithium-ion batteries in 2024. Therefore, recent surveys in 2024 suggest that magnesium metal as an alternative to lithium-ion batteries can be challenging.

Based on the research done by Tohoku University in 2024, magnesium batteries can be recharged, leading to efficient charging and discharging according to temperature changes. Magnesium batteries have been researched to replace lithium-ion batteries in the market for economical and sustainable reasons. It is to be noted that magnesium batteries cannot fully replace lithium-ion batteries. However, magnesium batteries can reduce the excess usage of lithium-ion batteries in various industries. The demand for lithium-ion batteries is growing due to an increase in the surge for electric vehicles in 2024. The clean energy transitions are at an inevitable hike, driving the electric vehicles market to lower consumers' affinity for conventional vehicles. The carbon emissions from conventional vehicles are higher compared to electric vehicles. Therefore, the automotive market is flooded with reasons for efficient switching to electric vehicles. However, lithium-ion batteries are needed on a large scale for producing electric vehicles.

Experts believe it is challenging to maintain EVs with lithium-ion batteries for a long time. Reasons like overheating and high prices support the idea of an alternative solution to this problem. Therefore, introducing magnesium batteries in industrial applications is expected to be sustainable and economically affordable.

Growth in Magnesium Metal Market can Lead to Magnesium Batteries Growth