Battery Binder Market By Battery Type (Lithium-ion, Lead Acid, Nickel Cadmium, Others), By Material (Polyvinylidene Fluoride, Carboxymethyl Cellulose, Polymethyl Methacrylate, Styrene-butadiene Copolymer, Others): Global Opportunity Analysis and Industry

Battery Binder Market By Battery Type (Lithium-ion, Lead Acid, Nickel Cadmium, Others), By Material (Polyvinylidene Fluoride, Carboxymethyl Cellulose, Polymethyl Methacrylate, Styrene-butadiene Copolymer, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global battery binder market was valued at $3.5 billion in 2022, and is projected to reach $7.5 billion by 2032, growing at a CAGR of 7.9% from 2023 to 2032.

Battery binders play a crucial role in the manufacturing and performance of rechargeable batteries. They are responsible for holding the electrode materials together and providing structural integrity to the battery cell. Battery binders have become a critical component in enabling the efficient and reliable operation of energy storage systems as the demand for high-performance batteries continues to grow in various industries. Battery binders are formulated using specialized materials to meet the specific requirements of different battery chemistries and applications.

Battery binders provide strong adhesion between the active electrode materials and the current collector, ensuring efficient electron transfer and minimizing internal resistance. Moreover, they form a protective coating on the electrodes, enhancing their stability and preventing degradation. Binders contribute to the mechanical stability and integrity of the battery cell, preventing electrode detachment or structural failure during charging and discharging cycles. They improve the lifespan and overall performance of battery. Battery binders are designed to be chemically stable in the presence of the battery electrolyte, minimizing any adverse reactions that could affect the battery's performance and safety.

Binders exhibit high thermal and chemical stability, maintaining their integrity and functionality over a wide range of operating temperatures and conditions. This ensures the longevity and safety of the battery cell. The rapid adoption of electric vehicles worldwide fuels the demand for high-performance batteries. Battery binders offer improved energy density, cycle life, and thermal stability and are anticipated to find substantial opportunities in the EV market.

The increase in use of smartphones, tablets, wearable devices, and other portable electronics necessitates compact and long-lasting batteries have demanded the battery binders market. Battery binders enable higher energy storage and improved safety would be in high demand. Grid-scale energy storage solutions have become increasingly important as renewable energy sources, such as solar and wind, are integrated into the power grid. These intermittent energy sources require effective energy storage systems to address the fluctuating supply and demand dynamics. Battery binders play a vital role in enhancing the efficiency, reliability, and safety of energy storage systems.

Advancements in next-generation batteries are expected to provide sufficient development prospects for the expansion of the global battery binders market in the future years. Next-generation battery binders are essential for enhancing the performance and safety of batteries. They hold the active materials in electrodes of a battery together and provide mechanical stability.

Nissan announced plans to introduce laminated solid-state batteries by 2028, as part of their Ambition 2030 strategy, and invested $17 billion in new electric vehicle concepts. Solid-state binders, replacing traditional liquid binders such as PVDF, offer improved stability and safety. They consist of polymers or ceramics that enhance adhesion between active materials and improve electrode integrity. The U.S. Department of Energy pledged $2.91 billion to boost advanced battery production for energy storage systems and electric vehicles, as directed by the Bipartisan Infrastructure Law. Nanostructured binders with nanoscale engineering enable better electrode-electrolyte contact, reduced ion transport resistance, and higher energy and power densities in batteries.

The battery binders market is segmented into battery type, material, and region. On the basis of battery type, the market is segmented into lithium-ion, nickel cadmium, lead acid, and others. On the basis of materials, the market is divided into polyvinylidene fluoride (PVDF), carboxymethyl cellulose (CMC), polymethyl methacrylate (PMMA), styrene-butadiene copolymer (SBR), and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

By battery type lead acid segment is the fastest growing segment of the battery binders market in 2022. Lead-acid batteries are a type of rechargeable battery that has been in use for many years. They consist of lead electrodes immersed in an electrolyte solution of sulfuric acid. The electrodes are typically made of lead grids or plates, which are designed to maximize the surface area for chemical reactions. In the construction of lead-acid batteries, the lead plates are held together using a variety of materials, including lead-based binders. These binders serve as a structural component to hold the active materials in place and provide mechanical stability to the battery.

By material, carboxymethyl cellulose segment is the fastest growing segment of the battery binders market in 2022. Carboxymethyl cellulose (CMC) is a versatile polymer derived from cellulose and has a wide range of applications in various industries, including the battery industry. In battery manufacturing, CMC is often used as a binder material to hold together the active materials, such as electrode powders and other components, within the battery cell. CMC has the ability to modify the rheological properties of the electrode slurry. It can improve the viscosity and flow characteristics of the slurry, making it easier to coat the electrode materials onto the current collectors during the manufacturing process.

On the basis of region, Asia-Pacific is the fastest growing region of the battery binders market in 2022. Japan is a leading producer of batteries for the automotive industry and employs various binder materials like PVDF, CMC, and SBR to create superior batteries. The country has made substantial investments in advancing battery technologies, leading to a surge in demand for battery binders. The International Energy Agency reports that Japan plans to increase its global output capacity at Japanese companies to 600 gigawatt hours (GWh) by 2030, aiming for a 20% market share in the global rechargeable battery market by the same year.

The major players operating in the global metal abrasives market include I.S.T Corporation Arkema, The Lubrizol Corporation, BASF SE, Solvay S.A., Daikin Industries, Ltd., Zeon Corporation, Targray, I.S.T Corporation, Synthomer PLC, and Trinseo. In April 2023, Arkema expanded its offering with the launch of its Incellion portfolio of sustainable waterborne acrylic solutions for high-capacity anodes, cathode primers, and ceramic-coated separators. In June 2022, Solvay announced the completion of its polyvinylidene fluoride (PVDF) capacity expansion project at the Changshu site in China. The company doubled its production capacity for this high-performance polymer before the expected time to meet the growing customer demand for EV batteries.

Key findings of the study:

By battery type, the lithium-ion segment was the highest revenue contributor to the market in 2022.

By materials, the polyvinylidene fluoride segment was the highest revenue contributor to the market, with in 2022, with a CAGR of 7.9%.

By region, Asia-Pacific domiated the battery binders market in 2022.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the battery binder market analysis from 2022 to 2032 to identify the prevailing battery binder market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the battery binder market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global battery binder market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Battery Type

Lead Acid
Nickel Cadmium
Others
Lithium-ion

By Material

Polyvinylidene Fluoride
Carboxymethyl Cellulose
Polymethyl Methacrylate
Styrene-butadiene Copolymer
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
BASF SE
Targray
Solvay S.A.
SYNTHOMER PLC
Daikin Industries, Ltd.
The Lubrizol Corporation
Trinseo S.A.
Arkema
Zeon Corporation
Industrial Summit Technology Corp.

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