Press release
Binders in Battery Market Set for Significant Growth, Driven by Innovations in Lithium-Ion Battery Technology.
Binders in Battery Market
The global binders in the battery market are estimated to reach over USD 5.47 billion by 2031, exhibiting a CAGR of 10.67% during the forecast period.
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Battery binders are compounds that hold the active ingredients of a lithium-ion battery electrode together. The binder is an important component of the electrode in a lithium-ion battery because it binds the active material (usually a lithium metal oxide or lithium cobalt oxide) in place and prevents it from separating or breaking apart during use. Superior binder materials, such as strong adhesion strength, high ionic conductivity, and better stability, are being developed to suit the growing need for high-performance and long-lasting lithium-ion batteries. Significant advances in binder technology have been made in recent years, with novel materials being produced that outperform old binders.
Recent research has concentrated on the development of conductive polymer binders that can improve the electrical conductivity of electrodes, resulting in improved battery performance. Another intriguing area of study is the use of nanomaterials as binders to improve the mechanical stability and energy density of lithium-ion batteries. Such improvements are propelling the binders in battery market forward.
List of Prominent Players in the Binders in Battery Market:
• Arkema
• The Lubrizol Corporation
• KUREHA CORPORATION
• Resonac Holdings Corporation
• APVAPV Engineered Coatings
• DAIKIN INDUSTRIES, Ltd.
• DuPont
• ZEON CORPORATION
• BASF SE
• Targray
• Solvay
• Fujian Blue Ocean & Black Stone Technology Co., Ltd
• Istist Corporation
• Synthomer Plcplc
• Trinseo
• Ashland
• Sicona Battery Technologies
• Northvolt AB
• Ionic Materials, Incinc.
• Sakuu Corporation.
• Princeton Nuenergy
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Market Dynamics:
Drivers-
Demand for batteries has increased dramatically in recent years, and this is projected to continue for at least the next few years. Globally, there is a push to reduce the use of traditional energy sources in industries such as automotive and power. This has resulted in an increase in overall lithium-ion battery output. Lithium-ion batteries outperform lead-acid, nickel-cadmium, and nickel-metal hydride batteries in terms of electrochemical performance. As a result of the rising usage of lithium-ion batteries in renewable energy storage and electric vehicles, the market for battery binders is likely to increase significantly.
Challenges:
International EVEV sales are expanding year after year, and many countries are dedicated to reaching their environmental standards. However, the automobile sector may need more time to transition from conventional to electric vehicles. The upfront cost, lack of charging infrastructure, range anxiety, and lengthy charging time are factors limiting the EVEV industry's growth. The issue of range anxiety may be addressed if enough public and personal charging stations for EVsEVs are built. The current circumstance is radically different because the charging infrastructure is insufficient to meet the changing needs of an EVEV.
Regional Trends:
Asia Pacific Binders in Battery Market is expected to report a significant market share in terms of revenue and is anticipated to extend at a high CAGR in the near future. There is a considerable increase in demand for consumer electronics such as phones, tablets, and laptops, as well as an increase in desire for electric vehicles. Government initiatives in major economies like India, China, and South Korea have boosted demand for lithium-ion batteries, increasing demand for lithium-ion battery binders. Data centers have grown as the telecom business has expanded. Data centers are migrating away from lead acid batteries and towards lithium-ion batteries, which is projected to boost the market for lithium-ion battery binders in the Asia Pacific region.
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Recent Developments:
• In June 2022, Solvay completed its polyvinylidene fluoride (PVDF) capacity expansion project at its Changshu facility in China. To accommodate the increased customer demand for EVEV batteries, the company expanded its production capacity for this high-performance polymer ahead of schedule.
Segmentation of Binders in the Battery Market-
By End-Use Industry
• Automotive and Transportation
• Energy and Power
• Consumer Electronics
• Others
By Binder Chemistry-
• Solvent Based
• Water Based
By Battery Binders-
• Anode Binder
• Cathode Binder
By Binder Type-
• Styrene Butadiene Rubber (SBR)
• Polyvinylidene Fluoride (PVDF)
• Carboxymethyl Cellulose (CMC)
• Polytetrafluoroethylene (PTFE)
• Others
By Battery Type-
• Lithium-ion
• Nickel Metal Hydride
• Lead Acid
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCCGCC Countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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