Lithium-ion Battery Binders Market worth $3.7 billion by 2027 Globally, at a CAGR of 18.7%, says MarketsandMarkets™

Chicago, April 02, 2023 (GLOBE NEWSWIRE) — The global 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, as per the recent study by MarketsandMarkets™. Growing demand of various applications such as automotive, consumer electronics and industrial is expected to drive the global lithium-ion battery binders market.

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List of Key Players in Lithium-Ion Battery Binders Market:

  1. Arkema (US)
  2. Solvay (Belgium)
  3. LG Chem (South Korea)
  4. ENEOS Corporation (Japan)
  5. Zeon Corporation (Japan)

Drivers, Restraints, and Opportunities in Lithium-Ion Battery Binders Market:

  1. Driver: Growing demand for the electric vehicle, consumer electronics, and utility sectors
  2. Restraints: Availability of binder free electrodes
  3. Opportunity: Advancement in battery binder technology
  4. Challenge: Underdeveloped infrastructure for electric vehicles

Key Findings of the Study:

  1. The lithium iron phosphate segment, by battery chemistry is estimated is estimated to grow at the highest rate in 2021.
  2. The polyvinylidene fluoride segment is estimated to account for the largest share of the lithium-ion battery binders market by material in 2021.
  3. The industrial segment is estimated to account for the largest share of the lithium-ion battery binders market by end-use in 2021.
  4. Europe is estimated to account for the second largest share of the global lithium-ion battery binders market in 2021

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Based on type, lithium-ion battery binders are segmented in anode lithium-ion battery binders and cathode lithium-ion battery binders. Anode lithium-ion battery binders is expected to be the largest segment during the forecast period, by value. Anode binders are typically a small percentage of the overall weight of a lithium-ion battery but are essential to battery cell construction and delivering a range of benefits, such as safety enhancements and energy density to capacity. This is further expected to drive the market share of this segment. 

Based on material, lithium-ion battery binders are segmented in polyvinylidene fluoride, carboxymethyl cellulose, polymethyl methacrylate, polytetrafluoroethylene, styrene butadiene copolymer, and others. polyvinylidene fluoride material is expected to be the largest segment during the forecast period. Polyvinylidene fluoride or polyvinylidene difluoride (PVDF) is a highly non-reactive and pure thermoplastic fluoropolymer produced by the polymerization of vinylidene difluoride. It is a semi-crystalline polymer with high crystallinity and high melting temperature. Its is widely used in the formation of lithium-ion battery binders. Thus, wide usage of polyvinylidene fluoride as a battery binders is expected to propel the market for the segment.

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