Newark, March 07, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global battery separators market is expected to grow from USD 6.92 billion in 2021 to USD 26.63 billion by 2030, at a CAGR of 16.15% during the forecast period 2022-2030.
The surge in the production of customer electronic gadgets is anticipated to expand the demand for the battery separators industry during the projection period. Moreover, the growing population & industrialization, other battery technological advancements, and increasing disposable incomes are also helping to propel market growth. However, stringent rules on polymeric materials and safety issues related to using batteries in different applications are restraining the market growth. Furthermore, the rapid increase in R&D of new materials for battery separators is an opportunity for market growth.
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Competitive Strategy
To enhance their market position in the global battery separators market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
The growth of the battery separators market is driven by the ever-increasing automotive industry and development in lithium-ion battery technology. Moreover, the growing adoption of electric vehicles is the market growth trend. In addition, the rising emphasis on developing electrolyte batteries and the ever-increasing logistics & e-commerce industry are helping to drive market growth. Further, introducing environmentally friendly batteries, rising customer expenditure capacities, and executing various government enterprises to encourage clean fuel-based automobile technologies are helping to propel market growth. However, the overall product adoption in customer electronics like digital cameras, remotes, music systems, and portable computing machines is boosting the market growth during the forecast period. In addition, the increasing use of laptops and smartphones due to the growing internet penetration is another driving factor of the market growth. Further, the rising awareness about sustainably sourced battery materials, recycling of wastes, and efficient disposal of wastes is the promoting factor of the market growth during the forecast period.
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Key Findings
• In 2021, the polyethylene segment dominated the market with the largest market share of 42.33% and market revenue of 2.92 billion.
The material segment is divided into polyethylene, polypropylene, and others. In 2021, the polyethylene segment dominated the market with the largest market share of 42.33% and market revenue of 2.92 billion. This growth is attributed to the rapid proliferation of electric vehicles. Further, by 2030, the polypropylene segment will likely dominate the market due to its excellent mechanical properties and low cost.
• In 2021, the Li-ion segment dominated the market with the largest market share of 44.11% and market revenue of 3.05 Billion.
The type segment is divided into lead acid, Li-ion, and others. In 2021, the Li-ion segment dominated the market with the largest market share of 44.11% and market revenue of 3.05 billion. This growth is attributed to the increasing adoption of electric vehicles in passenger and commercial cars.
• In 2021, the automotive segment dominated the market with the largest market share of 32.23% and market revenue of 2.23 billion.
The end-user segment is divided into consumer electronics, automotive, industrial, and others. In 2021, the automotive segment dominated the market with the largest market share of 32.23% and market revenue of 2.23 billion. This growth is attributed to the increasing demand for lithium-ion batteries in the automotive industry.
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Regional Segment Analysis of the Battery Separators Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global battery separators industry, with a market share of 38.69% and a market value of around 2.67 billion in 2021. The Asia Pacific currently dominates the battery separators market due to the growing use of batteries for various industrial applications. Moreover, the stringent regulations by the government in boosting electric vehicles across the region are also helping to drive the region's market growth. Further, the North American region is expected to show the fastest CAGR of 18.11% over the projection period. This growth is attributed to rising investments in the automotive sector. In addition, the increased demand for weight reduction to improve fuel efficiency & combat carbon emissions is also propelling the battery separators market growth.
Key players operating in the global battery separators market are:
• Microporous
• Entek
• SK Innovation
• UBE Industries
• Dreamweaver
• Sumitomo Chem
• Nippon Shokubai
• Evonik
• Asahi Kasei
• Senior Technology Material
• Mitsubishi Chemical
• Tianfeng Material
• Huiqiang New Energy
• Zhongke Science & Technology
• Sinoma Science & Technology
• Hongtu LIBS Tech
• Toray
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global battery separators market based on below mentioned segments:
Global Battery Separators Market by Material:
• Polyethylene
• Polypropylene
• Others
Global Battery Separators Market by Type:
• Lead Acid
• Li-ion
• Others
Global Battery Separators Market by End-User:
• Consumer Electronics
• Automotive
• Industrial
• Others
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About the report:
The global battery separators market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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