Battery Coatings Market: Overview
- Battery coating is a thin film deposition technology that is used to enhance the electrochemical performance of cathode and anode powder in a battery
- Battery coating enhances life, reduces degradation mechanism, and improves safety and operational efficiency of the battery. It helps deliver increased voltages without negatively impacting the battery life.
- Battery coatings increase the energy storage capacity and yield better overall battery performance at lower manufacturing cost
- The generation of heat and gases is reduced during the charging and discharging cycle. Battery coatings add stability and increase the energy density by approximately 15% to 25%, while still operating at room temperature.
- Demand for battery coatings is likely to increase marginally in energy storage applications in automobile and renewable energy sectors in order to lower the usage of fossil fuels, which primarily contribute to pollution
Key Drivers of Global Battery Coatings Market
- Demand for battery coatings has been increasing across the globe owing to high production of electric vehicles and rise in demand for smart devices. Increase in need for high performance batteries is also estimated to provide technological advancements in battery materials. However, high coating cost is anticipated to restrain the global battery coatings market.
- In November 2019, Solvay SA announced the expansion of its SOLEF polyvinylidene fluoride (PVDF) capacity in China to meet the rising demand for PVDF in lithium batteries. The expansion supports the company’s G.R.O.W. strategy, which focuses on investment in high growth sustainable solutions in materials.
- Arkema SA established a new Kynar fluoropolymer (PVDF) production facility at its Calvert-City plant in Kentucky, the U.S. This move resulted in 20% increase in its production capacity in the U.S.
Europe to Hold Major Share of Global Battery Coatings Market
- Based on region, the global battery coatings market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is anticipated to dominate the global battery coatings market during the forecast period, as the region has large installed base of renewable energy and electric vehicles. Rise in stringent environmental norms is anticipated to boost the demand for batteries in power storage applications.
- North America is projected to account for vital share of the global battery coatings market, owing to large number of EV’s and smart devices in the region
- Asia Pacific is estimated to be a highly attractive region of the global battery coatings market during the forecast period. Increase in developments and investments in the renewable sector is likely to boost the demand for batteries in energy storage systems. Countries in Asia Pacific such as China, Japan, and India are shifting to electric vehicles in order to reduce the pollution levels. Demand for consumer electronics and smart devices has been increasing in these countries. This is expected to boost the battery coatings market in Asia Pacific.
- The battery coatings market in Middle East & Africa and Latin America is estimated to expand at a healthy pace during the forecast period, owing to the rising investments in the renewable energy sector.
Key Players in Market
Leading companies operating in the battery coatings market include:
- APV Engineered Coatings
- Arkema SA
- Solvay SA
- Mitsubishi Paper Mills Ltd.
- Tanaka Chemical Corporation
- Asahi Kasei Corporation
- SK innovation Co., Ltd.
- NEI Corporation
- Targray Technology International Inc.
- Alteo Group
- Nano One Materials Corp.
- SAMCO Inc.
- Beneq Group
- Nexeon Limited
- ALD NanoSolutions, Inc.
- Forge Nano Inc.
Global Battery Coatings Market: Research Scope
Global Battery Coatings Market, by Material Type
Global Battery Coatings Market, by Battery Component
- Electrode Coating
- Separator Coating
- Battery Pack Coating
Global Battery Coatings Market, by End-use Industry
- Oil & Gas
- Renewable Energy
Global Battery Coatings Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
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