Dublin, May 11, 2023 (GLOBE NEWSWIRE) -- 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.
Demand - Drivers and Limitations
The following are the demand drivers for the global binders in battery market:
- Increasing Demand for Electric Vehicles
- Growing Investments and Installations in Renewable Energy Sector
- Improved Battery Performance due to Advance Multifunctional Binders
The market is expected to face some limitations too due to the following 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
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Key Companies Profiled
- 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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2022 - 2031 |
| Estimated Market Value (USD) in 2022 | $2265.9 Million |
| Forecasted Market Value (USD) by 2031 | $6057.1 Million |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Demand for Electric Vehicles
1.2.1.2 Growing Investments and Installations in Renewable Energy Sector
1.2.1.3 Improved Battery Performance due to Advance Multifunctional Binders
1.2.2 Business Challenges
1.2.2.1 Highly Competitive Market Creating Constant Pressure to Maintain High Performance and Quality of Binders at Competitive Price
1.2.2.2 Development of Binder Free Electrode Technologies for Advance Batteries
1.2.3 Business Opportunities
1.2.3.1 Integration of Internet of Things (IoT) and Artificial Intelligence (AI) Technologies in Consumer Electronics
1.2.3.2 Increasing Awareness about Bio-Based Products
1.2.4 Business Strategies
1.2.4.1 Product Development
1.2.4.2 Market Development
1.2.5 Corporate Strategies
1.2.5.1 Partnerships, Collaborations, and Joint Ventures
1.3 Snapshots of Battery Manufacturing Equipment's Market
1.4 Start-Up Landscape
2 Application
2.1 Binders in Battery Market - Battery Type and Specification
2.1.1 Lithium-ion
2.1.2 Nickel Metal Hydride
2.1.3 Lead Acid
2.1.4 Others
2.2 Demand Analysis of Binders in Battery Market (by Battery Type), Value and Volume 2021-2031
2.3 Binders in Battery Market - End-Use Industry and Specification
2.3.1 Automotive and Transportation
2.3.2 Energy and Power
2.3.3 Consumer Electronics
2.3.4 Others
2.4 Demand Analysis of Binders in Battery Market (by End-Use Industry),Value and Volume, 2021-2031
3 Products
3.1 Comparative Analysis of Different Battery Binders
3.2 Binders in Battery Market - Binder Type and Specification
3.2.1 Anode Binder
3.2.2 Cathode Binder
3.3 Demand Analysis of Binders in Battery Market (by Binder Type), Value and Volume, 2021-2031
3.4 Binders in Battery Market - Binder Chemistry and Specification
3.4.1 Polyvinylidene Fluoride (PVDF)
3.4.2 Styrene Butadiene Rubber (SBR)
3.4.3 Carboxymethyl Cellulose (CMC)
3.4.4 Polytetrafluoroethylene (PTFE)
3.4.5 Others
3.5 Demand Analysis of Binders in Battery Market (by Binder Chemistry), Value and Volume, 2021-2031
3.6 Binders in Battery Market - Process and Specification
3.6.1 Solvent Based
3.6.2 Water Based
3.7 Demand Analysis of Binders in Battery Market (by Process), Value and Volume, 2021-2031
3.8 Product Benchmarking: Growth Rate - Market Share Matrix (by Binder Chemistry)
3.9 Patent Analysis
3.1 Global Pricing Analysis
4 Region
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product Matrix for Key Companies
5.1.3 Market Share Analysis
5.2 Company Profiles
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/xvgj5y
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