Chicago, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The Battery Coating Market is projected to grow from USD 329 million in 2022 to USD 658 million by 2027, at a CAGR of 14.9% from 2022 to 2027, as per the recent study by MarketsandMarkets™. The growth of the firefighting foam market can be attributed to the increasing use of foam in the oil & gas industry for upstream and downstream activities.
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Browse in-depth TOC on "Battery Coating Market”
211 - Market Data Tables
54 - Figures
264 - Pages
List of Key Players in Battery Coating Market :
- Arkema SA (France)
- Solvay SA (Belgium)
- Asahi Kasei Corporation (Japan)
- Mitsubishi Paper Mills Ltd. (Japan)
- Ube Industries Ltd. (Japan)
- PPG Industries, Inc. (US)
- Tanaka Chemical Corporation (Japan)
- Dürr Group (Germany)
- Ashland Global Holdings Inc. (US)
- Axalta Coating Systems Ltd. (US)
- Targray Technology International Inc. (Canada)
- APV Engineered Coatings (US)
Drivers, Restraints, Opportunities and Challenges in Battery Coating Market :
- Driver: High production of EVs, HEVs, and PHEVs
- Restraint: High cost of technology
- Opportunities: Innovations and technological advances in battery materials
- Challenges: Expected utilization of solid electrolytes
Key Findings of the Study:
- By battery component, the electrode coating segment is estimated to be the fastest-growing segment of battery coating market during 2022 to 2027.
- By material type, the PVDF segment is estimated to be the fastest-growing segment of battery coating market during 2022 to 2027.
- By battery type, the graphene battery segment is estimated to be the fastest-growing segment of battery coating market during 2022 to 2027.
- Asia Pacific is estimated to be the fastest-growing region in the battery coating market during the forecast period.
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Based on battery component, the battery coating market has been segmented into electrode coating, separator coating, and battery pack coating. The electrode coating segment is projected to witness the highest growth rate owing to the increasing demand for electrode coatings in lithium-ion batteries for use in electric vehicles (EVs).
Based on technology type, the battery coating market is segmented into Atomic Layer Deposition (ALD), Chemical Vapor Deposition (CVD), and Plasma Enhanced Chemical Vapor Deposition (PECVD), Dry Powder Coating and Physical Vapor Deposition (PVD). Atomic Layer Deposition (ALD) coated cathode and anode materials deliver superior performance when compared to materials coated through conventional processes.
Based on battery type, the market is segmented into lithium-ion battery, lead-acid battery, nickel-cadmium battery, and graphene battery. The graphene battery segment is projected to witness the highest growth rate during the forecast period due to its increasing demand in various end-use industries such as consumer electronics, automotive, industrial, and power.
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Based on material type, the battery coating market has been segmented into PVDF, ceramic, alumina, oxide, carbon, polyurethane (PU), epoxy and others. The PVDF segment is projected to witness the highest growth rate during the forecast period due to the increasing use of PVDF in battery coatings, especially for lithium-ion batteries that go into EVs.
The battery coating market in Asia-Pacific is expected to grow at the highest CAGR from 2022 to 2027. The rising demand for new energy storage applications in vehicles and grid-connected energy storage and the high requirement for consumer gadgets are expected to increase the need for more sustainable batteries, thereby driving the growth of the battery coating market. Massive economic expansion and the flourishing electronics and electric vehicle industries in some Asia Pacific countries, such as China, Japan, South Korea, are responsible for the market’s high growth rate in the region.
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