Lithium-ion Battery Binders Market
What industry-specific factors are fueling the growth of the lithium-ion battery binders market?
The escalating uptake of electric vehicles (eVs) is predicted to spur the expansion of the lithium-ion battery binders market in the future. eVs, which refer to vehicles powered by one or more electric motors that use electrical energy from rechargeable batteries or from an external source, predominantly use lithium-ion batteries. The batteries’ high energy density, reliability, and capacity to power vehicles over long distances on a single charge have significantly impacted the EV industry, making them a favored choice among automobile manufacturers. For example, a report by the U.S. Energy Information Administration, a government agency from the US, in November 2023, declared that the percentage of battery-electric vehicles (BEVs) in new light-duty vehicle sales reached 17.7% in the third quarter of 2023. BEVs made up 16.0% of all new vehicle sales to date this year, a rise from the previous years’ figure which was 12.5% in 2022 and 9.0% in 2021. Therefore, the escalating uptake of eVs has a domino effect on the expansion of the lithium-ion battery binder market.
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What Is the projected market size and growth rate for the lithium-ion battery binders market?
The market for lithium-ion battery binders has seen a quick expansion in the past few years. The market value is projected to rise from $2.48 billion in 2024, hitting $2.91 billion in 2025, sporting a compound annual growth rate (CAGR) of 17.5%. The factors driving growth during the historical period include the rising acceptance of electric vehicles, the proliferation of mobile electronic devices, escalation in renewable energy storage, heightened consumer electronics demand, and the application of lithium-ion batteries in the aerospace industry.
The market for lithium-ion battery binders is anticipated to experience swift expansion in the forthcoming years. The market value is predicted to reach $5.36 billion by 2029, growing at a compound annual growth rate (CAGR) of 16.5%. The anticipated growth during the forecast period is largely due to advancements in battery energy density, increased use in electric grid applications, the employment of lithium-ion batteries in medical devices, the need for lightweight battery alternatives, the incorporation of these batteries into smart devices and binder customization for particular battery chemistries. Significant trends in the forecast period encapsulate tech advancements in battery materials, forward strides in lithium-ion battery technology, partnerships between battery manufacturers and car manufacturers, creation of green and sustainable binders, and the application of artificial intelligence in battery production.
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What new trends are reshaping the lithium-ion battery binders market and its opportunities?
Primary enterprises in the lithium-ion battery binder market are prioritizing modernizations in binders such as styrene-butadiene rubber (SBR) formulations with increased capacity, to boost battery effectiveness and meet the escalating demand for electric cars and energy storage systems. The improved version of SBR, referred to as the second-generation styrene-butadiene rubber (SBR), provides superior performance in utilities like lithium-ion batteries, facilitating higher silicon content in anodes, thereby amplifying battery capacity and proficiency. For instance, in June 2022, BASF, a chemical corporation based in Germany, introduced Licity 2698 X F, a second-generation anode binder made from styrene-butadiene rubber (SBR) for the manufacturing of lithium-ion batteries, which supports more than 20% of silicon content. This innovative binder elevates battery performance by enhancing capacity, prolonging charge/discharge cycles, diminishing charging durations and it is produced with a biomass balance method for improved sustainability.
What major market segments define the scope and growth of the lithium-ion battery binders market?
The lithium-ion battery binders market covered in this report is segmented –
1) By Type: Anode Binders, Cathode Binders
2) By Battery Chemistry: Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt, Lithium Titanate Oxide, Other Battery Chemistries
3) By Material: Polyvinylidene Fluoride, Carboxymethyl Cellulose, Polymethyl Methacrylate, Styrene Butadiene Copolymer, Other Materials
4) By Application: Automotive, Consumer Electronics, Industrial, Energy Storage, Other Applications
Subsegments:
1) By Anode Binders: Polyvinylidene Fluoride (PVDF), Carboxymethyl Cellulose (CMC), Styrene-Butadiene Rubber (SBR), Other Anode Binders
2) By Cathode Binders: Polyvinylidene Fluoride (PVDF), Acrylate Binders, Polyacrylic Acid (PAA), Other Cathode Binders
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Which region dominates the lithium-ion battery binders market?
Asia-Pacific was the largest region in the lithium-ion battery binders market in 2024. The regions covered in the lithium-ion battery binders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the lithium-ion battery binders industry growth?
Major companies operating in the lithium-ion battery binders market include Mitsui Chemicals Inc., BASF SE, Dow, SABIC, LG Chem, Covestro AG, Solvay SA, Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, DuPont, Arkema SA, Toray Industries Inc., UBE Corporation, Zeon Corporation, Denka Company Limited, Dongyue Group Limited, JSR Corporation, Ashland Inc., Kureha Corporation, Topsoe, Targray Technology International Inc., Mitsubishi Chemical Corporation, Shanghai 3F New Materials Co. Ltd., Suzhou Crystal Clear Chemical Co. Ltd., APV Engineered Coatings
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What Is Covered In The Lithium-ion Battery Binders Global Market Report?
• Market Size Forecast: Examine the lithium-ion battery binders market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the lithium-ion battery binders market for a structured understanding.
• Key Players Overview: Analyze major players in the lithium-ion battery binders market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the lithium-ion battery binders market.
• Segment Contributions: Evaluate how different segments drive overall growth in the lithium-ion battery binders market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the lithium-ion battery binders market.
• Industry Challenges: Identify potential risks and obstacles affecting the lithium-ion battery binders market.
• Competitive Landscape: Review strategic developments in the lithium-ion battery binders market, including expansions, agreements, and new product launches.
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