Press release
Binders in Battery Market Growth Driven by Innovations in Solvent-Based and Water-Based Technologies Across Multiple End-Use Industries
Binders in Battery Market
The global binders in the battery market are estimated to reach over USD 7.7 Billion by the year 2034, exhibiting a CAGR of 11.2% during the forecast period.
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Battery binders are essential compounds that maintain the structural integrity of the active materials within lithium-ion battery electrodes. Serving a critical function, binders secure the active substances-typically lithium metal oxides or lithium cobalt oxides-in place, preventing detachment or degradation during battery operation. To meet the increasing demand for high-performance and durable lithium-ion batteries, advanced binder materials exhibiting enhanced adhesion strength, superior ionic conductivity, and improved stability are being developed. Recent technological advancements have yielded innovative binder solutions that surpass the capabilities of traditional materials. Current research focuses on conductive polymer binders, which enhance the electrical conductivity of electrodes, thereby boosting overall battery efficiency.
Additionally, the exploration of nanomaterials as binders aims to strengthen mechanical stability and increase energy density. These technological developments are driving growth within the battery binder market.
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:
The demand for batteries has surged significantly in recent years and is expected to continue growing over the foreseeable future. Globally, there is a concerted effort to reduce reliance on conventional energy sources across various sectors, including automotive and power generation. This shift has led to an increase in the production of lithium-ion batteries, which demonstrate superior electrochemical performance compared to alternatives such as lead-acid, nickel-cadmium, and nickel-metal hydride batteries. The expanding application of lithium-ion batteries in renewable energy storage systems and electric vehicles is anticipated to drive substantial growth in the battery binder market.
Challenges:
Although international electric vehicle (EV) sales are rising annually, the automotive industry faces challenges in fully transitioning from traditional internal combustion engines to electric powertrains. Factors such as high initial costs, insufficient charging infrastructure, range anxiety, and prolonged charging durations continue to impede the expansion of the EV market. Addressing range anxiety hinges on the development of adequate public and private EV charging stations, which currently lag behind the growing demand, creating a barrier to the sector's accelerated growth.
Regional Trends:
The Asia Pacific region is projected to hold a significant revenue share in the battery binder market and is expected to experience robust growth in the near term. This expansion is driven by increasing demand for consumer electronics-including smartphones, tablets, and laptops-as well as a rising adoption of electric vehicles. Government initiatives in key economies such as China, India, and South Korea have further stimulated demand for lithium-ion batteries, consequently boosting the market for battery binders. Additionally, the telecom sector's growth has led to an increase in data centers, which are transitioning from lead-acid to lithium-ion batteries, further supporting the demand for lithium-ion battery binders within the 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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