The Market Reports

Synopsis
The global market for Lithium-Sulfur Battery was estimated to be worth US$ 58.1 million in 2024 and is forecast to a readjusted size of US$ 460 million by 2031 with a CAGR of 34.9% during the forecast period 2025-2031.
The lithium–sulfur battery (Li–S battery) is a type of rechargeable battery, notable for its high specific energy.The low atomic weight of lithium and moderate atomic weight of sulfur means that Li–S batteries are relatively light (about the density of water).
Global key players of lithium-sulfur battery include OXIS Energy (Johnson Matthey), Sion Power, PolyPlus, etc. The top three players hold a share about 81%. Europe is the largest producer, has a share about 68%, followed by North America, with share 32%. The largest market is Europe, with a share about 67%, followed by North America and Asia-Pacific, with share 30% and 2%, separately.
Analysis of driving factors of lithium-sulfur battery market
1. Energy density revolution: theoretical performance breaks bottleneck
Theoretical advantage: The theoretical energy density of lithium-sulfur battery reaches 2600 Wh/kg (existing lithium battery is about 300 Wh/kg), which can support electric vehicles to exceed 1000 kilometers of endurance.
Technical breakthrough:
Sulfur cathode modification: The volume expansion is suppressed by carbon nanotubes and graphene composite structure (up to 80%), and the cycle life is increased to 800 times (laboratory data in 2023).
Polysulfide anchoring: The shuttle effect is reduced by 70% by using metal oxides (such as TiO₂) or MOF materials.
Application scenario adaptation: electric aviation (such as vertical take-off and landing aircraft), deep-sea probes and other scenarios that require high energy density.
2. Resource security and cost advantages
Rich sulfur reserves: The abundance of the earth's crust is 0.048% (cobalt is only 0.001%), and the price is only 1/50 of lithium.
Supply chain simplification: No need for scarce metals such as cobalt and nickel, reducing geopolitical risks.
Cost potential: After scale-up, the cost of battery cells may be less than $0.05/Wh (lithium battery is about $0.1/Wh).
3. Policies and carbon neutrality goals force innovation
EU battery regulations: require that the carbon footprint of batteries be reduced by 35% by 2030, and the carbon emissions of sulfur cathode production are 60% lower than those of nickel, cobalt and manganese.
China's strategic support:
The "New Energy Vehicle Industry Development Plan" clearly supports new battery technologies, and lithium-sulfur battery companies can receive 20-30% research and development subsidies.
2025 goal: to achieve a localization rate of more than 80% for key materials for sulfur-based batteries.
4. Energy storage market explosion: long-term energy storage economy highlights
Gravity energy storage competes with flow batteries:
The energy density of lithium-sulfur batteries is 5-10 times that of flow batteries, and the floor space is reduced by 70%.
Suitable for long-term energy storage scenarios (>10 hours), LCOS (levelized cost of electricity) is as low as 0.08 yuan/Wh.
Wind and solar storage demand: The global energy storage market is expected to reach 1.3 trillion yuan in 2030, and lithium-sulfur batteries may account for 15% of the market share.
5. Acceleration of technology integration and industrial collaboration
Solid-state battery technology grafting:
Sulfide solid electrolytes are highly compatible with lithium-sulfur battery cathodes, which can simultaneously solve safety and energy density problems.
Industry chain integration:
Chemical giants such as Sinopec and BASF have deployed sulfur refining technology with a purity of 99.98% (meeting battery-level requirements).
Heading battery factories such as CATL and Xinwanda have established pilot lines and may achieve GWh-level mass production in 2025.
6. Capital and patent layout are heating up
Investment trends:
Global lithium-sulfur battery financing will exceed US$1.2 billion in 2023, and venture capital institutions such as Softbank and Sequoia will increase investment in early projects.
Patent distribution: China accounts for 42% of global lithium-sulfur battery patents (28% in the United States and 15% in Japan), and the Chinese Academy of Sciences and Tsinghua University lead basic research.
7. Special field replacement demand
Adaptation to low temperature environment: The capacity retention rate of lithium-sulfur battery at -40℃ exceeds 75% (lithium battery is about 40%).
Flexible electronics: Bendable sulfur positive electrode is adapted to wearable devices, and the energy density is 30% higher than that of solid-state lithium battery.
Summary: The lithium-sulfur battery market is driven by energy density demand, resource security, and policy pressure. The global market size is expected to reach US$35 billion in 2030. Breakthrough of technical bottlenecks (such as cycle life exceeding 1,000 times) and maturity of the industrial chain (such as low-cost sulfur refining) will be key turning points. Chinese companies need to focus on the research and development of sulfur/carbon composite materials and solid electrolytes, and seize patents and standard setting rights.
This report aims to provide a comprehensive presentation of the global market for Lithium-Sulfur Battery, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Lithium-Sulfur Battery by region & country, by Type, and by Application.
The Lithium-Sulfur Battery market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Lithium-Sulfur Battery.
Market Segmentation
By Company
OXIS Energy (Johnson Matthey)
Sion Power
PolyPlus
Sony
LG Chem Ltd
Reactor Institute Delft
Dalian Institute of Chemical Physics (DICP) of the Chinese Academy of Sciences
Shanghai Research Institute of Silicate
Stanford University
Daegu Institute of science and technology, Korea
Monash University
Gwangju Institute of Science and Technology
Kansai University
Segment by Type
High Energy Density Lithium Sulfur Battery
Low Energy Density Lithium Sulfur Battery
Segment by Application
Aviation
Automotive
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Lithium-Sulfur Battery manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Lithium-Sulfur Battery in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Lithium-Sulfur Battery in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index