The lithium-ion battery binders market is projected to grow from USD 1.6 billion in 2022 to USD 3.7 billion by 2027, at a CAGR of 18.7% from 2022 to 2027. The rise in demand for EVs and growing demand for consumer electronics, is driving the market.
“The lithium iron phosphate by battery chemistry is projected to grow at the highest CAGR during the forecast period, in terms of value.”
Based on battery chemistry, lithium iron phosphate is projected to grow at the highest CAGR during 2022 to 2027, by value. Lithium iron phosphate batteries (LFPs) are used in high-power devices and equipment. LFPs have long life cycles, high current ratings, good thermal stability, and enhanced safety due to better tolerance. All these characteristics of lithium iron phosphate battery is expected to enhance its usage in electric components, enhancing the market for lithium-ion battery binders.
“The industrial segment of lithium-ion battery binders market by end-use is expected to account for the largest market share during the forecast period.”
Based on end-use, industrial segment of lithium-ion battery binders market is projected to have the largest market share during the forecast period that is from 2022 to 2027, by value. Lithium-ion batteries are used in industries such as construction, aerospace, and telecommunications. The use of batteries provides a competitive edge over combustion engine equipment in terms of carbon emissions and safety in underground environments. This is expected to drive the market for this segment.
“The Asia Pacific is projected to account for the largest market share by region during the forecast period, in terms of value.”
Asia Pacific accounts for the largest market share for lithium-ion battery binders market during the forecast period. The lithium-ion battery binders market in Asia pacific is highly driven by China and South Korea. Huge investments have been done in automotive electronics industry in China which has driven the demand for lithium-ion battery, enhancing the market for lithium-ion battery binders. South Korea is also witnessing considerable growth in lithium-ion battery binders market due to its global expansion of domestic brands and government support for electric vehicles. Such factors are expected to bolster the market for lithium-ion battery binders in the region.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
- By Designation: C-level Executives – 25%, Directors – 30%, Others – 45%
- By Region: North America – 20%, Europe – 15%, Asia Pacific – 55%, South America – 7%, Middle East & Africa – 3%,
As a part of qualitative analysis, the research provides a comprehensive review of market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by varied market players, such as Arkema (US), Solvay (Belgium), LG Chem (South Korea), ENEOS Corporation (Japan), and Zeon Corporation (Japan).
The report defines the lithium-ion battery binder market based on type, material, battery chemistry, end-use, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It strategically profiles key players and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as agreements, expansions, partnerships, contract undertaken by them in the market.
Reasons To Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the lithium-ion battery binders market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.