Lithium-Ion Battery Binders Market to be Worth US$ 3,588.7 Million by 2030
Reports and Insights has published a new report titled, “Lithium-ion Battery Binders Market: Opportunity Analysis and Future Assessment 2022-2030”
Lithium-ion Battery Binders Market, By Material (PVDF, Hydrophilic, N-Methyl pyrrolidone (NMP), Styrene Butadiene Copolymer (SBR), Carboxymethyl cellulose lithium (CMC-Li)), By Process (Solvent Based Processing, Water based Processing), By Application (Anodes, Cathodes, Separators, Electrolytes Solvents) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The lithium-ion battery binders market is estimated to reach at a value of US$ 1,489.1 Mn by the end of 2022 and expected to reach at a value of US$ 3,588.7 Mn by 2030 with a significant CAGR of 11.7%.
Lithium-ion batteries are amongst the most proficient kinds of batteries and comprehensively serve to power almost all kinds of electronic gadgets and appliances including electric vehicles. The battery binder is simply the material which holds an essential role since it possesses the active material fragments inside the electrode of a lithium-ion battery (LIB) combined to sustain a robust association between the electrode and the connections.
The lithium-ion battery binders majorly comprise specialty binder materials including PVDF, Hydrophilic and SBR. Traditionally, in the lithium-ion cell manufacturing process, PVDF used to be mainly adopted in the cathode and anode slurry manufacturing processes.
However, due to environmental and cost issues, the leading battery manufacturers are steadily backing away from utilizing PVDF and instead adopted aqueous base materials such as SBR copolymers.
Significantly, the hydrophilic binder introduces novel state-of-the-art technology to li-ion battery manufacturers, since it can be utilized practically for all kinds of li-ion cell chemistries as well as it offers several benefits including lesser cost of manufacturing as well as clean, pollution-free practice as compared to usage of PVDF that utilizes NMP solvents. Attributing to such factors, the global lithium-ion battery binders market is projected to witness substantial growth over the following years.
Other than that, the rapid development in the consumer electronics industry along with the increased household income, around the world, is further estimated to offer positive thrust to the market growth in the forthcoming future.
However, adhering to varying standards and stringent regulations all across the world, fluctuating prices of raw materials, inflation as well as increasing robust competition remain few factors that may slow down the growth of the global lithium-ion battery binders market in the coming years.
Reports and Insights Study identifies some of the key participating players in the lithium-ion battery binders market globally are Solvey, Targray, BASF, APV Engineered Coatings, Fujifilm, synthomer PLC, Ashland, ZEON CORPORATION, XIAMEN TOB NEW ENERGY TECHNOLOGY Co., LTD., Daikin, Elcan Industries, Arkema, Kureha, among others.
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