Battery Coating Market worth $658 million by 2027 | Key players Arkema SA (France), Solvay SA (Belgium), Asahi Kasei Corporation (Japan), Mitsubishi Paper Mills Ltd. (Japan), Ube Industries Ltd. (Japan).

According to recent market research the "Battery Coating Market by Battery Component (Electrode Coating, Separator Coating, Battery Pack Coating), Material Type (PVDF, Ceramic, Alumina, Oxide, Carbon), and Region (Asia Pacific, North America, Europe, ROW) - Global Forecast to 2027", the battery coating market is projected to grow from USD 329 million in 2022 to USD 658 million by 2027, at a CAGR of 14.9% from 2022 to 2027. The market growth is driven by the high production of EVs, HEVs, and PHEVs and the growing demand for smart devices and other consumer electronics.

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By battery component, electrode coating segment is projected to witness the highest growth rate during the forecast period due to the increasing demand for electrode coatings in lithium-ion batteries for use in electric vehicles (EVs).

By material type, the PVDF segment s projected to witness the highest growth rate during the forecast period. PVDF (polyvinylidene fluoride) is a good organic coating choice for traditional polyolefin separators due to its special functional group structure. The growth of this segment is due to the increasing use of PVDF in battery coatings, especially for lithium-ion batteries that go into EVs.

The graphene battery segment is projected to witness the highest growth rate during the forecast period due to its increasing demand in various end-use industries such as consumer electronics, automotive, industrial, and power.

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The battery coating market in Asia-Pacific is expected to grow at the highest CAGR from 2022 to 2027. The rising demand for new energy storage applications in vehicles and grid-connected energy storage and the high requirement for consumer gadgets are expected to increase the need for more sustainable batteries, thereby driving the growth of the battery coating market. Massive economic expansion and the flourishing electronics and electric vehicle industries in some Asia Pacific countries, such as China, Japan, South Korea, are responsible for the market's high growth rate in the region.

Arkema SA (France), Solvay SA (Belgium), Asahi Kasei Corporation (Japan), Mitsubishi Paper Mills Ltd. (Japan), Ube Industries Ltd.(Japan), PPG Industries, Inc. (US), Tanaka Chemical Corporation (Japan), Dürr Group (Germany), Ashland Global Holdings Inc. (US), Axalta Coating Systems Ltd. (US), Targray Technology International Inc. (Canada), APV Engineered Coatings (US), Unifrax (US), SK Innovation Co., Ltd. (South Korea), and Samco Inc. (Japan) are some of the leading players in the battery coating market.

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In June 2021, Arkema SA announced a major innovation with the launch of its new sustainable Kynar PVDF range. These new grades are expected to be 100% renewable which is attributed to the carbon derived from crude tall oil bio-feedstock, according to a mass balance approach.

In December 2021, PPG Industries, Inc. announced an investment worth USD 2.7 million to expand its powder coatings manufacturing capabilities at its facility in Sumaré, in the Brazilian state of São Paulo. The project is expected to increase the plant's production capacity for powder coatings by approximately 40%, beginning the third quarter of 2022.

In June 2020, NEI Corporation introduced three new products, further expanding its product line of Battery Electrode Sheets. The new materials cater the rising need in the industry for high performance cathode and anode electrodes for lithium and lithium-ion batteries. The three new products are NANOMYTE BE-70E, NANOMYTE BE-150E, and NANOMYTE BE- 400E.

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