ALBANY, N.Y., Dec. 20, 2021 /PRNewswire/ — The global lithium-ion battery binders market is likely to expand at a CAGR of 15.6% during the forecast period, from 2021 to 2031. The rise in demand for consumer electronics globally has resulted in substantial rise in the use of lithium-ion battery binders, which is expected to boost its global sales during the projection period.
The demand from automotive and transportation industry is predicted to grow significantly during the forecast period. As a result, the demand for lithium-ion battery binders is expected to rise with increase in the number of electric cars on the road. Thus, the market is anticipated to surpass the valuation of US$ 10.15 Bn by 2031.
In order to ensure enhanced performance of lithium-ion cells, companies are increasing their investments in research and development activities in anode binder solutions with distinct properties. Waterborne carboxylated styrene butadiene copolymers with exceptionally low VOC concentration are used in cutting-edge anode binders.
The lithium-ion battery binders market in Asia Pacific is driven by the rising demand for lithium-ion battery binders in several end-use industries such as automotive & transportation and consumer electronics. In Asia Pacific, China is a major market for lithium-ion battery binders. In 2020, the country held a considerable share of the Asia Pacific lithium-ion battery binders market. The country is expected to continue its leading position and thus, drive the market in Asia Pacific at a CAGR of more than 16.6% during the forecast period.
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Key Findings of Market Report
- For graphite anodes, BP copolymers have been found to be a viable replacement of PVDF (Polyvinylidene fluoride or polyvinylidene difluoride) binder. Furthermore, for graphite anodes, BP copolymers are more conductive than PVDF binder. Firms in the lithium-ion battery binders market are expected to increase the production of BP copolymers, which have superior mechanical stability and adhesion over PVDF.
- Producers of polyamide-imide resin, which has good coating film strength, are boosting their output to meet the growing demand in the lithium-ion battery binders market. These binders aid to maintain adhesion even when silicon-based active materials expand and contract, thereby enhancing the cycling performance of lithium-ion batteries.
- Demand for polyvinylidene fluoride (PVDF) in the global lithium-ion battery binders market is driven by its usage in a variety of electronic applications, particularly as a jacketing material for different cables utilized in video and voice devices as well as alarm systems
- Development of large format lithium-ion batteries for transportation and utility storage is on the rise. The global market is driven by low manufacturing costs, reduction of cell packing material in batteries, and optimization of cell stack arrangement in lithium-ion batteries.
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Lithium-ion Battery Binders Market: Growth Drivers
- Increasing usage of rechargeable lithium-ion batteries in various mobile devices requiring high energy density is projected to drive the global lithium-ion battery binders market and help attain valuation of US$ 10.15 Bn by 2031
- The global lithium-ion battery binders market is estimated to be dominated by North America. Rise in demand for lithium-ion battery binders for use in consumer electronics is expected to benefit the North America market.
- To ensure better performance for lithium-ion cells, industries are expanding R&D in anode binder solutions with particular features. Waterborne carboxylated styrene butadiene copolymers with very low VOC concentration are being used in cutting-edge anode binders.
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Lithium-ion Battery Binders Market: Key Competitors
Some of the key market players are
- Fujian Blue Ocean & Black Stone Technology Co., Ltd.
- Ashland Global Holdings Inc.
- APV Engineered Coatings Inc.
- DuPont de Nemours, Inc.
- FUJIFILM Wako Chemical Corporation
- Zeon Specialty Materials Inc.
Lithium-ion Battery Binders Market: Segmentation
Chemistry
- Polyvinylidene Fluoride [PVDF]
- Carboxy Methyl Cellulose
- Polymethyl Methacrylate [PMMA]
- Styrene Butadiene Copolymer [SBR]
End Use
- Consumer Electronics
- Automotive & Transportation
- Energy Storage System
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