Binders in Battery Global Market to 2031:

11 May Binders in Battery Global Market to 2031:

Growing Investments and Installations in the Renewable Energy Sector Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Binders in Battery Market – A Global and Regional Analysis: Focus on Binder Type, Process, Binder Chemistry, Battery Type, End-Use Industry and Region – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.

The global binders in battery market is projected to reach $6,057.1 million by 2031 from $2,265.9 million in 2022, growing at a CAGR of 11.54% during the forecast period 2022-2031.

The growth in the binders in battery market is expected to be driven by an increase in sales of electric vehicles and growing investment toward the installation of batteries in the renewable energy sector.

However, the development of binder-free electrodes and pressure to maintain quality are some of the factors hindering the growth of the market.

Market Lifecycle Stage

The global binders in battery market are in a growing phase. New trends, such as the focus on the development of water-based binders, are expected to offer opportunities in the coming years.

Industrial Impact

With an increased worldwide focus on reducing carbon emissions, the shift toward the adoption of electric vehicles has brought a surge in demand for batteries, thereby creating demand for battery binders. The shift is more prominent in regions such as North America and Europe.

Recent Developments in Global Binders in Battery Market

• In June 2022, Solvay announced the completion of its polyvinylidene fluoride (PVDF) capacity expansion project at the Changshu site in China. The company doubled its production capacity for this high-performance polymer before the expected time to meet the growing customer demand for EV batteries.
• In January 2022, Arkema accelerated its development in China with its PVDF capacity in order to fulfill the increasing demand from its partner clients in the lithium-ion battery market and support the enormous growth in the water filtration, specialty coatings, and semiconductor industries.
• In July 2021, KUREHA CORPORATION announced to build a new polyvinylidene fluoride (PVDF) plant at the wholly owned subsidiary, Kureha Changshu Fluoropolymers Co., in the Jiangsu Province of China. The expansion would cater to the growing demand in the automobile sector, mainly in electric vehicles (EV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV).
• In October 2021, BASF SE and the Karlsruhe University of Technology (KIT) collaborated on a government-funded initiative to examine the potential of multi-layered anodes for lithium-ion batteries.

Key Attributes:

Market Dynamics

Drivers

• Increasing Demand for Electric Vehicles
• Growing Investments and Installations in Renewable Energy Sector
• Improved Battery Performance due to Advance Multifunctional Binders

Challenges

• Highly Competitive Market Creating Constant Pressure to Maintain High Performance and Quality of Binders at Competitive Price
• Development of Binder Free Electrode Technologies for Advance Batteries

Opportunities

• Integration of Internet of Things (IoT) and Artificial Intelligence (AI) Technologies in Consumer Electronics
• Increasing Awareness about Bio-Based Products

Market Segmentation

Segmentation 1: by End-Use Industry

• Automotive and Transportation
• Energy and Power
• Consumer Electronics
• Others

Based on end-use industry, the automotive and transportation segment dominated the binders in battery market in 2021 and was the largest segment due to the rising sales of electric vehicles across the globe.

Segmentation 2: by Process

• Solvent Based
• Water Based

Based on process, solvent-based binders held the majority share in the binders in battery market in the year 2021. This is mainly because binders such as PVDF and PTFE are solvent based and currently are majorly consumed in batteries.

Segmentation 3: by Binder Chemistry

• Styrene Butadiene Rubber (SBR)
• Polyvinylidene Fluoride (PVDF)
• Carboxymethyl Cellulose (CMC)
• Polytetrafluoroethylene (PTFE)
• Others

Based on binder chemistry, polyvinylidene fluoride (PVDF) held the majority share in the binders in battery market in the year 2021 as it is suitable for various batteries because of its superior properties.

Segmentation 4: by Battery Type

• Lithium-ion
• Nickel Metal Hydride
• Lead Acid
• Others

Based on battery type, the lithium-ion segment held the majority share in the binders in battery market in 2021.

Segmentation 5: by Region

• North America – U.S., Canada, and Mexico
• Europe – Germany, France, Italy, Spain and Rest-of-Europe
• U.K.
• China
• Asia-Pacific and Japan – Japan, South Korea, India, and Rest-of-Asia-Pacific and Japan
• Rest-of-the-World (RoW) – Middle East and Africa and South America

China dominates the binders in battery market due to the presence of a large electric vehicle industry, leading industry players across the supply chain, and a fast-developing economy.

Companies Mentioned

• Arkema
• The Lubrizol Corporation
• KUREHA CORPORATION
• Resonac Holdings Corporation
• APV Engineered Coatings
• DAIKIN INDUSTRIES, Ltd.
• DuPont
• ZEON CORPORATION
• BASF SE
• Targray
• Solvay
• FUJIAN BLUE OCEAN & BLACK STONE TECHNOLOGY CO., LTD.
• I.S.T Corporation
• Synthomer PLC
• Trinseo
• Ashland
• Sicona Battery Technologies
• Northvolt AB
• IONIC MATERIALS, INC.
• SAKUU CORPORATION.
• PRINCETON NUENERGY

For more information about this report visit https://www.researchandmarkets.com/r/dq5xtw

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