New York, United States , Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Battery Binders Market Size is to grow from USD 3.6 Billion in 2022 to USD 7.1 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.3% during the projected period.
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Electric vehicles (EVs) are becoming more popular, and this is one of the main factors driving industry revenue growth. In order to mechanically stabilize and hold the active components of the electrodes together, battery binders also referred to as electrode binders, are employed in the production of rechargeable batteries. The manufacture of lithium-ion batteries, which are widely used in portable gadgets, electric vehicles (EVs), and energy storage systems, requires these batteries as key building blocks. Binders must have adequate mechanical properties to withstand reduplicative volume expansion, such as a low glass transition temperature (Tg), a high degree of entanglement (chemical/physical cross-linking), and self-healing qualities. In order to mechanically stabilize and hold the active components of the electrodes together, battery binders also referred to as electrode binders, are employed in the production of rechargeable batteries. These batteries are necessary parts for the creation of lithium-ion batteries, which are widely used in portable electronics, Electric Vehicles (EVs), and energy storage systems.
Browse key industry insights spread across 210 pages with 110 market data tables and figures & charts from the report on the "Global Battery Binders Market Size, Share, and COVID-19 Impact Analysis, By Type (Anode Binder, Cathode Binder), By Battery Type (Lithium-ion Batteries, Ni-Cd Batteries), By Material (PVDF, CMC), By Application (Electric Vehicles, Consumer Electronics) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032
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Market segments
The anode binder segment dominates the market with the largest revenue share over the forecast period
Based on the type, the global Battery Binders market is segmented into anode binder and cathode binder. Among these, the anode binder segment dominates the market with the largest revenue share of 43.6% over the forecast period. since anode electrodes are made by blending active material (graphite), binder powder, solvent, and additives into a slurry and then pumping it into a coating machine. The coating machine uses the mixed slurry (paste) to paint the Artificial Intelligence (Al) foil for the cathode and the Cu foil for the anode on both sides. The coated foil is then calendared to increase the electrode's uniformity. In order to ensure optimum electrode size, a slicing method is also used. For the next-generation lithium-ion batteries, silicon (Si) has been identified as the most promising anode material due to its high theoretical specific capacity, safety, and natural availability.
The Lithium-ion Batteries segment is witnessing significant CAGR growth over the forecast period.
Based on the battery type, the global Battery Binders market is segmented into lithium-ion batteries and Ni-Cd Batteries. Among these, the Lithium-ion Batteries segment is witnessing significant CAGR growth over the forecast period. Over the forecast period, the Lithium-ion Batteries category is expected to rise at a considerable CAGR. Lithium-ion batteries are widely used in portable electronics, electric cars, and renewable energy storage systems. The components, such as the cathode and anode, that hold the active substances together also have an impact on the safety and efficiency of lithium-ion batteries.
The polyvinylidene fluoride (PVDF) segment is expected to hold the largest share of the Global Battery Binders Market during the forecast period.
Based on the material, the global Battery binder market is classified into polyvinylidene fluoride (PVDF), carboxymethyl cellulose (CMC), and others. Among these, the polyvinylidene fluoride segment is expected to hold the largest share of the battery Binders market during the forecast period. Battery binders, most notably lithium-ion batteries (Li-ion), use polyvinylidene fluoride (PVDF). PVDF is a high-performance polymer that is ideal for demanding applications like battery binders because of its outstanding chemical resistance, mechanical strength, and thermal stability.
The electric vehicles segment accounted for the largest revenue share of more than 57.2% over the forecast period.
On the basis of application, the global Battery Binders market is segmented into electric vehicles and consumer electronics. Among these, the electric vehicles segment dominates the market with the largest revenue share of 57.2% over the forecast period. The batteries in electric vehicles (EVs) are vital components that are responsible for both storing and supplying electrical energy to the electric motor. Battery binders are frequently used in lithium-ion batteries because they hold the electrode components, such as the cathode and anode, together for greater battery performance, safety, and lifespan. The segment will expand as a result of the growing focus that researchers and battery manufacturers are putting on the development of new binder materials.
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North America dominates the market with the largest market share over the forecast period.
he existence of well-established battery binders across the United States, a surge in the sales of electric vehicles, and increased investments in the installation of batteries in the renewable energy sector all contribute to the local market's growth. Businesses are also making a bigger effort to set up PVDF production plants in the region for battery materials.
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. The increase in demand for electric vehicles and renewable energy storage technologies is a significant reason for China's position as the top producer of lithium-ion batteries in the world. The three most popular battery binders in China are polyvinylidene fluoride (PVDF), and carboxymethyl cellulose (CMC).
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Major vendors in the Global Battery Binders Market include The Lubrizol Corporation, Arkema, BASF SE, Daikin Industries, Ltd., Zeon Corporation, Targray, Industrial Summit Technology Corp., Synthomer Plc, Trinseo S.A., UBE Corporation, Kureha Corporation, Sumitomo Chemical Co., Ltd
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Recent Market Developments
- In May 2023, BASF has announced an investment in water-based anode binders to boost the lithium-ion battery sector. The new binders will be manufactured in two existing dispersion plants in China, Jiangsu and Guangdong. In addition to their existing product lines, the two plants will manufacture two novel anode binders based on modified styrene-butadiene rubber (SBR): Licity® and Basonal Power®. The new product line is planned to be available in mid-2023.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Battery Binders Market based on the below-mentioned segments:
Battery Binders Market, Type Analysis
- Anode Binder
- Cathode Binder
Battery Binders Market, Battery Type Analysis
- Lithium-ion Batteries
- Ni-Cd Batteries
Battery Binders Market, Material Analysis
- PVDF
- CMC
Battery Binders Market, Application Analysis
- Electric Vehicles
- Consumer Electronics
Battery Binders Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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