Press release
Binders in Battery Market Forecast to Witness 11.2% CAGR Amid Rising Lithium-Ion Battery Demand Across Automotive, Energy, and Consumer Electronics Sectors
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 critical components in maintaining the structural integrity of active materials within lithium-ion battery electrodes. These compounds secure materials such as lithium metal oxides and lithium cobalt oxides, preventing displacement or deterioration during repeated charge and discharge cycles. Driven by increasing demand for high-performance, durable lithium-ion batteries, the industry is placing greater emphasis on the development of advanced binder materials that deliver superior adhesion, enhanced ionic conductivity, and improved chemical and thermal stability.
Recent progress in materials science has facilitated the emergence of next-generation binder technologies that outperform traditional solutions. Conductive polymer binders, for instance, are gaining prominence for their ability to enhance electrode electrical conductivity, thereby improving overall battery efficiency. Additionally, research into nanomaterial-based binders aims to reinforce mechanical strength and increase energy density. These technological advancements are supporting the rapid growth 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 battery market has experienced significant growth in recent years, a trend that is projected to continue. Efforts to reduce reliance on conventional fossil fuels across sectors such as automotive and power generation are accelerating the adoption of advanced energy storage technologies. Lithium-ion batteries, known for their superior electrochemical performance relative to traditional alternatives such as lead-acid, nickel-cadmium, and nickel-metal hydride batteries, are increasingly preferred. The expanding use of lithium-ion batteries in electric vehicles and renewable energy storage applications is expected to drive robust demand for battery binders, which are essential for maintaining optimal battery performance and longevity.
Challenges:
Despite the steady increase in electric vehicle (EV) adoption, the automotive industry faces challenges in achieving a comprehensive shift from internal combustion engine vehicles to electric mobility. Major impediments include high initial costs, limited charging infrastructure, concerns over driving range, and extended charging durations. The scarcity of public and private charging stations remains a critical factor, contributing to range anxiety and restraining the pace of EV market expansion.
Regional Trends:
The Asia-Pacific region is anticipated to capture a significant share of the global battery binder market and demonstrate strong growth throughout the forecast period. This expansion is driven by rising demand for consumer electronics, including smartphones, tablets, and laptops, alongside increasing electric vehicle adoption.
Government initiatives and supportive policies in countries such as China, India, and South Korea are promoting the development of lithium-ion battery technologies, thereby enhancing demand for high-performance battery binders. Furthermore, the region's growing telecommunications infrastructure and the transition of data centers from lead-acid to lithium-ion energy storage systems are further propelling market growth.
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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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