Lithium-ion Battery Binders Market: Introduction
- A binding agent or a binder is any substance or material which draws or holds other materials together in order to form a bond— chemically and mechanically— by cohesion or adhesion. Lithium-ion battery is a leading technology used for powering a variety of devices ranging from cell phones to electric vehicles. Moreover, the quality of materials utilized and proper treating are crucial factors to obtain batteries with superior performance and a high level of safety.
- Battery-grade binders possess various characteristics such as superior ionic conductivity, water absorption, tensile strength, adhesion, high melting point, swelling in electrolytes, molecular weight distribution, high purity, and dissolution.
Key Drivers of Global Lithium-ion Battery Binders Market
- With the advent of new technologies, including cloud-based storage and Internet of Things (IoT), adoption of different types of consumer electronics products has significantly risen. In addition, continuous advancements in the wireless telecommunication technology have enhanced the penetration of smart devices as well as smartphones. This is a major factor expected to increase the adoption of lithium-ion batteries in smart devices in the near future. This, in turn, is expected to drive the global lithium-ion batteries binders market during the forecast period. Increase in the rate of literacy, rise in the purchasing power of consumers, and growth of economy in developing as well as developed countries have increased the adoption of electronics devices. This, rise in sales of consumer electronics products and smart devices is expected to drive the global lithium-ion battery binders market in the near future.
- Increase in the adoption of smart wearable devices and gadgets, such as smart watches and smart glasses, in another key factor boosting the global lithium-ion battery binders market. With the use of advanced technologies, wearable devices are becoming smaller and lighter. Reliable batteries are required for wearable devices, as they continuously generate records of crucial data. This, in turn, is expected to augment the demand for lithium-ion batteries in the next few years. This is another factor anticipated to boost the global lithium-ion battery binders market during the forecast period.
- However, availability of different substitutes, development of binder-free electrodes for use in lithium-ion batteries, and safety concerns related to lithium-ion batteries are key factors expected to hamper the global lithium-ion batteries binders market during the forecast period
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Rise in Demand for Lithium-ion Battery Binders for Use in Consumer Electronics Products
- Based on type, the global lithium-ion battery binders market can be divided into cathode binder and anode binder. The cathode binder segment is projected to account for a major share of the global market, in terms of revenue, during the forecast period. Cathode binders are widely utilized, owing to their cost-effectiveness and low impact on the environment.
- In terms of application, the global lithium-ion battery binders market can be classified into consumer electronics, automotive, aerospace & defense, and others. In terms of revenue, the consumer electronics segment is expected to hold a major share of the global market during the forecast period. Increase in the adoption of smart devices and smart wearables among consumers is a major factor fueling the segment.
Asia Pacific a Key Market for Lithium-ion Battery Binders
- In terms of region, the global lithium-ion battery binders market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, Asia Pacific is expected to account for a significant share of the global lithium-ion battery binders market during the forecast period. This can be attributed to increase in the number of consumers adopting different types of consumer electronics products in the region. The market in Asia Pacific is expected to witness rapid growth during the forecast period. This can be ascribed to increasing preference of consumers for electric vehicles and rising usage of smart devices in the region.
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Key Manufacturers Operating in Global Market
- Key players are constantly focusing on the development of enhanced-quality lithium-ion battery binders with the objective to expand their product offerings and gain a competitive edge in the global lithium-ion battery binders market
Key Manufacturers Operating in Global Market:
- The DuPont Chemical Company
- Arkema SA
- JSR Corporation
- KUREHA CORPORATION
- APV Engineered Coatings
- Targray Technology International Inc.
- UBE INDUSTRIES, LTD.
- Zeon Corporation
Global Lithium-ion Battery Binders Market: Research Scope
Global Lithium-ion Battery Binders Market, by Type
- Cathode Binders
- Anode Binders
Global Lithium-ion Battery Binders Market, by Application
- Consumer Electronics
- Aerospace & Defense
Global Lithium-ion Battery Binders 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
- South Africa
- Rest of Middle East & Africa
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