Pune, India, June 13, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the North America battery separator market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 3.1 billion by 2027.
The trend for battery-operated smart electronic devices is driving North America battery separator market share. The soaring production of electric vehicles has prompted manufacturers to further the portfolio expansion of battery separators. According to the International Council on Clean Transportation, U.S.-based automakers produced close to half a million electric vehicles in 2020, with hybrids and pure battery EVs accounting for 2.3% of new vehicle sales.
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The rising adoption of electric vehicles will play an invaluable role in fueling battery separators market trends. It is likely to gain impetus from the penetration of wet separators and microgrids in the automobile sector. That said, rigorous regulations toward the use of polymeric materials and the influence of the COVID-19 pandemic on automotive production may challenge stakeholders.
Robust government plans will provide a fillip to business portfolios across the region. For instance, in June 2021, White House negotiators and a group of senators came up with a new bipartisan infrastructure plan in the U.S. to include USD 15 billion to boost EV infrastructure, electric buses and transit.
Polyethylene separators to be sought-after
End-users have shown increased traction for polyethylene separators to propel chemical stability and mechanical properties. It is worth noting that polyethylene-based separators meltdown and shut down the battery to prevent potential damage. Besides, developments in the field of lithium-ion batteries will also bode well for the industry. The polyethylene-based battery separator market in North America is likely to grow at a healthy CAGR of more than 16.2% through 2027.
Automotive industry to exhibit demand for battery separators
While the onslaught of the COVID-19 outbreak dented automotive production in 2020, the ensuing period is poised to witness a gradual increase in automotive expansion. Vehicle manufacturers are expected to shape the future of sustainable and clean mobility with increased demand for lithium-ion batteries. Surged demand for weight reduction to enhance fuel efficiency and combat carbon emissions will drive the adoption of battery separators. The automotive battery separatory segment in North America is forecast to expand at an impressive CAGR of around 16.3% through 2027.
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Lithium-ion battery to rise in prominence
Over the years, lithium-ion batteries have fueled the trend as a highly efficient power storage system, expanding the application across vehicle and consumer electronics product portfolios. A notable rise in the production of electric and hybrid vehicles will pan well for leading companies vying to bolster their position in the industry. The lithium-ion battery separator segment in North America is likely to grow at a strong CAGR of 16.2% through 2027.
Major vendors in the North America battery separator market are Toray Industries, Asahi kesai, UBE Industries Ltd., Celgard, Freudenberg, Sumitomo Corporation, Bernard Dumas, Entek International, among others. These companies are likely to focus on product rollouts, mergers & acquisitions, and R&D investments. With governments pitching for carbon neutrality, battery separators are expected to drive the growth across the electric vehicle portfolio.
About Graphical Research:
‘Graphical Research’ provides a large collection of market research and industry analysis reports covering healthcare, automotive, oil and gas, pharmaceutical, IT, agriculture, chemicals, and many other sectors, across diverse regions like North America, Europe, Asia Pacific, Latin America, and others. The comprehensive reports we provide are aligned with the key industry trends and insights in specific regional markets. The data we deliver helps our customers make better strategic decisions. Our goal is to offer competitive and quality customized market research reports.
