Press release
Binders in Battery Market Set for 11.2% CAGR as EV and Energy Storage Adoption Soars
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 play a pivotal role in ensuring the structural cohesion of active materials within lithium-ion battery electrodes. These compounds function by anchoring active materials-such as lithium metal oxides or lithium cobalt oxides-firmly in place, thereby preventing material dislocation or degradation during charge and discharge cycles. In response to the rising demand for high-performance, long-lasting lithium-ion batteries, there is a growing emphasis on the development of advanced binder materials that offer enhanced adhesion properties, superior ionic conductivity, and greater chemical and thermal stability.
Recent advancements in material science have led to the introduction of next-generation binder technologies that significantly outperform conventional materials. Notably, conductive polymer binders are gaining traction due to their ability to improve the electrical conductivity of electrodes, resulting in enhanced battery performance. Furthermore, ongoing research into nanomaterial-based binders is focused on reinforcing mechanical strength and increasing energy density. These innovations are contributing to the accelerated expansion of the global 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 global demand for batteries has witnessed substantial growth in recent years and is expected to maintain this upward trajectory. Efforts to reduce dependence on traditional fossil fuels across key sectors-such as automotive and power generation-are accelerating the adoption of advanced energy storage solutions. Lithium-ion batteries, recognized for their superior electrochemical properties compared to conventional alternatives like lead-acid, nickel-cadmium, and nickel-metal hydride batteries, are gaining prominence. The increasing deployment of lithium-ion batteries in electric vehicles and renewable energy storage systems is anticipated to significantly propel the demand for battery binders, which are critical components in ensuring battery performance and durability.
Challenges:
Despite the consistent growth in global electric vehicle (EV) sales, the automotive sector continues to face hurdles in achieving a full-scale transition from internal combustion engine vehicles to electric mobility. Key obstacles include high upfront costs, inadequate charging infrastructure, concerns related to driving range, and extended charging times. A major factor limiting the widespread adoption of EVs is the insufficient availability of public and private charging stations, which contributes to range anxiety and slows the pace of market expansion.
Regional Trends:
The Asia-Pacific region is expected to account for a substantial share of the global battery binder market and exhibit strong growth over the forecast period. This growth is underpinned by rising consumption of consumer electronics-such as smartphones, tablets, and laptops-and increasing electric vehicle adoption across the region. Government-led initiatives and supportive policies in countries like China, India, and South Korea are fostering the development of lithium-ion battery technologies, thereby boosting demand for high-performance battery binders. Additionally, the expansion of the telecommunications sector and the subsequent growth of data centers-many of which are transitioning from lead-acid to lithium-ion energy storage systems-are further contributing to the market's momentum in 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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