The Business Research Company’s report on the Lithium-ion Battery Binders Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the lithium-ion battery binders market in recent years?
The growing adoption of electric vehicles (eVs) is expected to propel the growth of the lithium-ion battery binders market going forward. Electric vehicles (eVs) refer to vehicles that are powered by one or more electric motors using electrical energy stored in rechargeable batteries or obtained from an external source. Lithium-ion batteries are the most used type of battery in electric vehicles (eVs) due to their high energy density, reliability, and ability to provide sufficient power for driving longer distances on a single charge. These batteries have revolutionized the EV industry and have become the preferred choice for automotive manufacturers. For instance, in November 2023, according to the U.S. Energy Information Administration, a US-based government agency, the share of battery-electric vehicles (BEVs) in new light-duty vehicle sales reached 17.7% in the third quarter of 2023, with BEVs accounting for 16.0% of total new vehicle sales so far this year, up from 12.5% in 2022 and 9.0% in 2021. Therefore, the growing adoption of electric vehicles (eVs) is driving the growth of the lithium-ion battery binder market.
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What is the projected market size of the lithium-ion battery binders industry, and how is it expected to grow?
The lithium-ion battery binders market size has grown rapidly in recent years. It will grow from $2.48 billion in 2024 to $2.91 billion in 2025 at a compound annual growth rate (CAGR) of 17.5%. The growth in the historic period can be attributed to surge in electric vehicle adoption, expansion of portable electronic devices, growth in renewable energy storage, increase in consumer electronics demand, adoption of lithium-ion batteries in aerospace
The lithium-ion battery binders market size is expected to see rapid growth in the next few years. It will grow to $5.36 billion in 2029 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to improvement in energy density of batteries, growth in electric grid applications, adoption of lithium-ion batteries in medical devices, demand for lightweight battery solutions, integration of lithium-ion batteries in smart devices, customization of binders for specific battery chemistries. Major trends in the forecast period include technological innovations in battery materials, advancements in lithium-ion battery technology, collaboration between battery manufacturers and automakers, development of sustainable and eco-friendly binders, integration of artificial intelligence in battery manufacturing.
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Who are the key players driving competition in the lithium-ion battery binders market?
Major companies operating in the lithium-ion battery binders market include Mitsui Chemicals Inc., BASF SE, Dow, SABIC, LG Chem, Covestro AG, Solvay SA, Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, DuPont, Arkema SA, Toray Industries Inc., UBE Corporation, Zeon Corporation, Denka Company Limited, Dongyue Group Limited, JSR Corporation, Ashland Inc., Kureha Corporation, Topsoe, Targray Technology International Inc., Mitsubishi Chemical Corporation, Shanghai 3F New Materials Co. Ltd., Suzhou Crystal Clear Chemical Co. Ltd., APV Engineered Coatings
What key trends are expected to drive the liquid nutritional supplement market during the forecast period?
Major companies operating in the lithium-ion battery binder market are focusing on advancements in binders such as high-capacity styrene-butadiene rubber (SBR) formulations, to enhance battery performance and support the growing demand for electric vehicles and energy storage systems. Second-generation styrene-butadiene rubber (SBR) is an enhanced form of SBR that offers improved performance in applications like lithium-ion batteries, allowing for higher silicon content in anodes, which boosts battery capacity and efficiency. For instance, in June 2022, BASF, a Germany-based chemical company, launched Licity 2698 X F, a second-generation styrene-butadiene rubber (SBR) anode binder for lithium-ion battery manufacturing that supports silicon content exceeding 20%. This new binder enhances battery performance by increasing capacity, extending charge/discharge cycles, and reducing charging times while also being produced using a biomass balance approach for greater sustainability.
Which key geographies are driving the growth of the lithium-ion battery binders market?
Asia-Pacific was the largest region in the lithium-ion battery binders market in 2024. The regions covered in the lithium-ion battery binders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the key segments driving growth in the lithium-ion battery binders market?
The lithium-ion battery binders market covered in this report is segmented –
1) By Type: Anode Binders, Cathode Binders
2) By Battery Chemistry: Lithium Iron Phosphate, Lithium Nickel Manganese Cobalt, Lithium Titanate Oxide, Other Battery Chemistries
3) By Material: Polyvinylidene Fluoride, Carboxymethyl Cellulose, Polymethyl Methacrylate, Styrene Butadiene Copolymer, Other Materials
4) By Application: Automotive, Consumer Electronics, Industrial, Energy Storage, Other Applications
Subsegments:
1) By Anode Binders: Polyvinylidene Fluoride (PVDF), Carboxymethyl Cellulose (CMC), Styrene-Butadiene Rubber (SBR), Other Anode Binders
2) By Cathode Binders: Polyvinylidene Fluoride (PVDF), Acrylate Binders, Polyacrylic Acid (PAA), Other Cathode Binders
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What defines the structure and scope of the lithium-ion battery binders market?
Lithium-ion battery binders refer to the materials designed to hold together the active components of a lithium-ion battery, specifically the cathode and anode materials, along with the conductive additives and electrolytes. It is used to bind the coatin’’s parts and aid in bonding the layer to the metal or membrane separator.
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