SEOUL, February 16 (AJP) - [Economic Daily] The global solid-state battery market is projected to grow more than tenfold to nearly $20 billion by 2032, driven by expanding applications in electric vehicles and robotics, according to a market research report released Monday.
South Korean battery makers are accelerating development efforts as commercialization of the next-generation technology draws closer.
The worldwide solid-state battery market is expected to expand from $1.97 billion last year to $19.97 billion in 2032, representing a compound annual growth rate of 39.2 percent, according to market research firm Coherent Market Insights.
Solid-state batteries use solid electrolytes instead of the liquid electrolytes found in conventional lithium-ion batteries, reducing fire and explosion risks while enabling higher energy density, the report said.
Initial demand is expected to come from small electronics including home appliances, wearables and medical devices. Applications are projected to expand to electric vehicles and robots as technology matures and manufacturing processes stabilize, according to the report.
However, high manufacturing costs and complex processes remain key constraints. The ability to establish mass-production systems and achieve stable yields will be critical in determining commercialization timing, the firm said.
Coherent Market Insights identified U.S.-based Solvay, Cymbet and Solid Power, along with Japan's Panasonic, as companies leading solid-state battery technology. Samsung SDI was the only South Korean company included in the list.
Samsung SDI built South Korea's first solid-state battery pilot line in 2023 and has been supplying samples to customers for performance verification. In late 2025, the company agreed with BMW and Solid Power to jointly pursue a technology verification project for vehicle applications.
In an earnings conference call earlier this month, Samsung SDI said it is preparing next-generation solid-state batteries with a mass production target for next year and proceeding with planned investment to expand production lines this year.
LG Energy Solution aims to commercialize graphite-based solid-state batteries for electric vehicles in 2029 and plans to apply anodeless solid-state batteries to humanoid robots in 2030.
SK On, targeting commercialization in 2029, is considering the defense sector as an initial application. The company has built a pilot plant at its Daejeon Future Technology Institute to develop sulfide-based solid-state batteries and lithium-metal batteries in parallel. It is also collaborating with Solid Power on cell design and process technology while receiving supplies of sulfide-based solid electrolytes to accelerate development.
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