Global Lithium-ion Battery Binders Market is valued at approximately USD 1.3 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 18.7% over the forecast period 2022-2029. Lithium-ion battery binders are materials used in the production of lithium-ion batteries to hold the active materials in place and provide structural stability to the battery. They are typically polymers that are added to the electrode mixture to bind the active materials, such as lithium cobalt oxide or lithium iron phosphate, together. Lithium-ion battery binders play a critical role in the production of high-performance and reliable lithium-ion batteries, which are used in a wide range of applications. The market demand is primarily driven by the factors such as the increasing demand and production of electric vehicles, the growing consumer electronics industry, and the rising development of energy storage systems.
In addition, the increasing emergence of the usage of electric vehicles and the rapidly growing consumer electronics market are acting as major driving factors for market growth. According to the International Energy Agency, electric vehicle (EV) sales more than quadrupled from the previous year in 2021, reaching a new record of 6.6 million. This brings the global total of electric vehicles on the road to almost 16.5 million. Similarly, according to Statista, the consumer electronics market reached USD 1,112 Billion in 2022 from USD 1,035 Billion in 2021. Hence, the potentially emerging electric vehicles industry and consumer electronics are expected to escalate the demand for lithium-ion battery binders in the global market. Furthermore, the rising developments to the increased energy density of lithium-ion batteries and increasing adoption of electric vehicle transportation due to pollution are presenting lucrative opportunities for market growth over the forthcoming years. However, concerns over the safety of lithium-ion battery’s usage in different climatic conditions are restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Lithium-ion Battery Binders Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue due to the enormous demand for electric vehicles due to rising liquid fuel and gas prices. Whereas, Europe is also expected to grow at the highest growth rate over the forecasting period due to growing developments in the EV industry. Factors such as the rising developments of electric public transport vehicles by governments, growing incorporation of lithium-ion batteries in data centers, and increasing demand for electric vehicles among the mass and growing usage in various end-use industries are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Ashland Global Holdings Inc.
DuPont de Nemours, Inc.
Recent Developments in the Market:
In June 2022, BASF SE, a European multinational chemical producer company, announced the launch its new Anode binder Licity 2698 X F extending its series of Licity anode binders for Li-ion battery manufacturing. The new Anode binder comes equipped with second-generation styrene-butadiene rubber (SBR) binder with outstanding stress-strain capabilities and elasticity and is highly suitable for SiOx and Si-rich anodes. The new Licity 2698 X F Anode Binder has a higher energy density, a greater number of charge/discharge cycles and quicker charging times.
In June 2021, Arkema, a multinational specialty chemicals and advanced materials company, announced the launch of its new breakthrough variety of sustainable PVDF grades for lithium-ion batteries. With the launch of the new Kynar PVDF range, according to a mass balance technique, new grades will claim 100% renewable attributable carbon obtained from crude tall oil bio-feedstock. The innovative technology reduces the climate change effect of the Kynar PVDF binder by nearly 20% while lowering reliance on upstream crude oil use. The crude tall oil used in upstream feedstock production is a byproduct of the Kraft process of producing wood pulp.
Global Lithium-ion Battery Binders Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Material, Battery Chemistry, End-use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Styrene Butadiene Copolymer
By Battery Chemistry:
Lithium iron phosphate
Lithium nickel manganese cobalt
Lithium titanate oxide
Rest of the World