SBR Binder for Lithium-Ion Batteries Industry Research: the market is projected to climb to USD 1,154 million by 2031

According to the recent report from QYResearch, the global Styrene-Butadiene Rubber (SBR) binder for lithium-ion batteries market reached USD 599 million in 2024 and is projected to climb to USD 1,154 million by 2031, growing at a 10.0% CAGR between 2025 and 2031. Asia-Pacific continues to dominate with approximately 80% market share, followed by Europe (11%) and North America (7%). Demand is concentrated in above-20% solids latex, which already accounts for 97% of global sales, and applications remain led by power batteries, with a 70% share.

Recent price checks show battery-grade SBR latex typically sells for about RMB 200-600/kg (≈USD 27-82/kg) depending on origin/spec, with small-lot quotes commonly RMB 300-450/kg. Using RMB 350/kg as a working ASP and peer specialty-latex gross-margin bands (roughly low-teens to high-20s), an indicative COGS is ~RMB 245-310/kg, implying gross profit ~RMB 40-105/kg and a gross profit margin ~12-30%.

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Latest Data

· Market size: USD 599 million in 2024 → USD 1,154 million in 2031, CAGR 10.0%

· Regional mix (2024): Asia-Pacific ~80%, Europe ~11%, North America ~7%

· By product type: Above 20% solids ≈97%; 15%-20% solids ≈3%

· By application: Power battery ≈70%, energy storage and consumer battery covering the balance

· Competition: Top five vendors ~76% of 2024 revenue

Leading Companies

Zeon
Nippon A&L
JSR
Hansol Chemical
LG Chem
Trinseo
BASF
Shenzhen Yanyi New Materials
Synthomer
Haodyne Technology

Classification

15%-20% Solid
Above 20% Solid

Applications

Power Battery
Energy Storage Battery
Consumer Battery

Downstream Customers

CATL
BYD Company
LG Energy Solution
Samsung SDI
Panasonic Energy
SK On
EVE Energy
CALB
Gotion High-Tech
Sunwoda
Farasis Energy
SVOLT Energy
Northvolt
Envision AESC

Market Trends 2025

Silicon-Rich Anodes Drive Binder Innovation

Battery makers are increasingly moving toward silicon-containing anodes, which expand during cycling. This requires binders with high elasticity and strong adhesion. BASF's 2025 launch of Licity® 2698 X F illustrates the industry's shift to tailored binders capable of supporting anodes with more than 20% silicon content.

Water-Based and PFAS-Free Solutions Gain Ground

Environmental regulations in the United States and Europe are accelerating the transition to water-based, PFAS-free binder systems. Zeon and BASF are leading the way with binder chemistries that enable NMP-free electrode processing, supporting cleaner and more sustainable manufacturing.

Capacity Expansion Boosts Binder Demand

Global lithium-ion battery capacity reached approximately 3 TWh in 2024, with the potential to triple over the next five years. In the United States, operational capacity already exceeded 150 GWh in 2024, supported by announced projects nearing 1,400 GWh. This expansion drives corresponding growth in binder consumption for both EV batteries and energy storage systems.

Regional Supply Chains Evolve

Asia-Pacific holds around 80% of the market, but localization is becoming a critical theme. Incentives in North America and Europe are pushing manufacturers to secure regional binder supply. Zeon's China venture and BASF's global expansions show how suppliers are balancing scale in Asia with diversification elsewhere.

High-Solids Processing Becomes Standard

Above-20% solids binders now account for 97% of the market. Manufacturers emphasize slurry stability, coating performance, and rheology control to meet the needs of high-speed electrode production lines. Synthomer's 2025 update of LITEX® LB 420 highlights this trend.

Binders Enter Cathode Applications

While traditionally used in anodes, SBR binders are beginning to expand into cathode processing, especially for LFP and other water-processable chemistries. Companies like Zeon are actively developing cathode-compatible water-based binders to reduce reliance on PVDF and NMP.

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