Wilmington, Delaware, United States, May 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Lithium-ion Battery Binders Market is projected to flourish at a CAGR of 15.6% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 5.9 billion is anticipated for the market in 2031. As of 2023, the market for lithium-ion battery binders is expected to close at US$ 1.75 billion.
Increasing demand for lithium-ion batteries in various applications including electric vehicles, portable electronics, and grid energy storage systems is expected to drive the growth of the Lithium-ion Battery Binders Market
Increasing demand for electric vehicles around the globe owing to the increased consumer awareness about reducing carbon emission and increasing application of lithium-ion batteries are expected to boost the growth of the Lithium-ion Battery Binders Market during the forecast period.
Polyvinylidene fluorides are gaining traction in many industries such as aerospace, oil & gas, and construction as they possess some properties which make them ideal binders for lithium-ion batteries.
Increasing technological advances in automotive and increasing demand for high-performance binder material and continuous demand for batteries are expected to provide an opportunity for market growth in coming years. The rising demand for energy sources systems in telecom, data centers, and others is expected to drive the sales of the Lithium-ion Battery Binders Market
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Key Takeaways from the Market Report
- As of 2023, the Lithium-ion Battery Binders Market is forecast to reach US$ 1.75 billion
- By type, demand for polyvinylidene fluoride(PVDF) is rising significantly
- Based on end-use, the automotive segment is expected to account for a significant market share due to the demand for lithium-ion battery binders
- Applications in electric vehicles are rising due to the rapid growth of the automotive industry and increased demand for electric vehicles
Networked Polymers Market: Prominent Drivers and Trends
- Increased application in electronics and automotive and rapid industrialization and urbanization creating opportunities for Lithium-ion Battery Binders Market growth.
- Increased application in electronic devices such as mobiles, laptops, and other utilities electronic gadgets are driving the lithium-ion battery binders’ progress
- With Increasing demand for renewable energy sources and increased government emphasis on sustainable energy sources the demand for lithium-ion battery binders increases.
- Increase in research & development activity and technological innovation in binder technology and development of new material with improved performance by market players accelerate the growth of the market during the forecast period.
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Lithium-ion Battery Binders Market: Regional Analysis
- North America is expected to generate high demand for networked polymers. Increasing investment in research & development activities and the presence of many manufacturing and the rapid growth of consumer electronics in the region drive the market growth.
- Asia Pacific is likely to emerge as yet another opportunistic hub, due to the rising adoption of electronic devices in such as phones, tablets, and laptops. Increasing demand for electric vehicles in China, Japan, and India is fueling the lithium-ion battery binders demand. Increasing demand for advanced materials and growth of the end-use industries such as automotive and electronics in the region also drive market growth.
Competitive Landscape
Transparency Market Research has profiled the following players in its global Lithium-ion Battery Binders Market report:
- Asahi Kasei Corporation
- Arkema Group
- Dow
- Topsoe
- DuPont
- Kureha corporation
- Mitsui Chemical, Inc
- Solvay SA
- Sumitomo Chemical Co. Ltd,
- Toray Industries
- UBE Industries Ltd.,
- Zeon Corporation
To gain competitive advantage market players are investing in research & development activities to create environment-friendly products. The key players operating in the Lithium-ion Battery Binders Market are adopting organic and inorganic marketing strategies to increase the market share Some specific developments from the Lithium-ion Battery Binders Market are as follows:
- In December 2022 – Zeon Corporation through its investment subsidiary Zeon Ventures, invested in AM batteries (AMB), a United States start up developing an innovative electrode manufacturing process for lithium-ion batteries.
- In July 2020 - Ube Industries, Ltd. and Mitsubishi Chemical Corporation have been transferring the electrolyte business for lithium-ion rechargeable batteries and other applications of both companies to the joint venture company.
- In May 2022 – Kureha Corporation announced that its wholly owned subsidiary Kureha America Inc. and Claros Technology a US-based start-up have signed an agreement to develop a PFAS capture and destruction technology platform
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Lithium-ion Battery Binders Market: Key Segments
Type
- Polyvinylidene Fluoride (PVDF)
- Carboxymethyl Cellulose (CMC)
- Polymethyl Methacrylate (PMMA)
- Styrene- butadiene Copolymer (SBR)
- Others
Application
- Electric Vehicles
- Portable Electronics
- Grid Energy Storage System
- Industrial & Marine Devices
- Others
End-Use
- Automotive
- Electronics
- Power Grid
- Consumer Goods
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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