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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
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Lithium-ion Battery Binders Market: Growth Drivers
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Lithium-ion Battery Binders Market: Key Competitors
Some of the key market players are
Lithium-ion Battery Binders Market: Segmentation
Chemistry
End Use
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