Global Battery Binders Market Size to Reach USD 7.52 Billion in 2032 | Emergen Research

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Increasing mechanical binding of battery binders is a key factor driving Battery Binders market revenue growth

Vancouver, Sept. 07, 2023 (GLOBE NEWSWIRE) — The global battery binders market size is expected to reach USD 7.52 Billion in 2032 and register a steady revenue CAGR of 7.9% during the forecast period, according to latest analysis by Emergen Research. Increasing mechanical binding of battery binders is a key factor driving market revenue growth. Battery binders, known as electrode binders, are used in the manufacture of rechargeable batteries to hold the active materials of electrodes together and provide mechanical stability.

These batteries are essential components in the construction of lithium-ion batteries, which are widely used in portable electronics, Electric Vehicles (EVs), and energy storage systems.. Binder mechanical behaviors have intricate effects on battery performance, hence the search for an appropriate binder should be undertaken logically. In addition, technological advancements in battery binders and developing infrastructure to charge EVs are other factors driving revenue growth of the market.  Primary function of battery binders is to create a strong and conductive matrix, which holds active materials such as lithium compounds and graphite.

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However, availability of binder-free electrodes is a key factor, which could restrain market growth. A number of approaches, including template-free and template-assisted processes, can be used to create binder-free electrodes. Binders are frequently electrochemically inert and insulating, resulting in low total energy density and poor cycle stability.

As a result, binder-free electrodes have a high potential for exceptional performance in terms of both enhanced electronic conductivity and electrochemical reversibility. Binder-free electrodes are being studied because these can overcome problems, such as poor interaction and interface concerns, between the binder and active material.

Scope of Research

Report Details Outcome
Market Size in 2022 USD 3.50  Billion
CAGR (2023–2032) 7.9%
Revenue Forecast To 2032 USD 7.52 Billion
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Million and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Type, battery type, material, application, sector, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Arkema, ENEOS Holdings, Inc., Zeon Corporation, BASF Group, UBE Corporation, Asahi Kasei Corporation, Kureha Corporation, Mitsui Chemicals, Inc., Solvay SA, and Sumitomo Chemical Co., Ltd.
Customization Scope 10 hours of free customization and expert consultation

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Major Companies and Competitive Landscape

The global battery binders market is fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective battery binders. Some major players included in the global battery binders market report are:

  • Arkema
  • ENEOS Holdings, Inc.
  • Zeon Corporation
  • BASF Group
  • UBE Corporation
  • Asahi Kasei Corporation
  • Kureha Corporation
  • Mitsui Chemicals, Inc.
  • Solvay SA
  • Sumitomo Chemical Co., Ltd.

Strategic Development

  • On 10 May 2022, Zeon Corp. build new manufacturing facilities in Thailand through its Thai subsidiary Zeon Chemicals Asia Co. Ltd., with production of battery binders, a key component of Zeon’s battery materials business, to commence in 2024.
  • On 21 July 2021, Kureha Corp., a Japanese chemical manufacturer, will increase manufacturing of Polyvinylidene Fluoride (PVDF), a synthetic polymer used in lithium-ion batteries, in China to meet the rising demand, notably from the car sector. Kureha Fluoropolymers Co., a 100% owned local company of Kureha, will construct a new factory in an industrial park in the eastern city of Changshu, near Shanghai, capable of producing around 10,000 tons of the substance known as PVDF per year.

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Some Key Highlights From the Report

  • The anode binder segment is expected to account for largest revenue share in the global battery binders market over the forecast period. This is because anode electrode is made by blending active material (Graphite), binder powder, solvent, and additives into a slurry and then pumping it into a coating machine. With the mixed slurry (paste), coating machine paints both sides of Artificial Intelligence (Al) foil for the cathode and Cu foil for anode. After that, the coated foil is calendared to increase the electrode’s uniformity. In addition, a slicing procedure is carried out to guarantee proper electrode size. Silicon (Si) has been recognized as the most promising anode material for next-generation lithium-ion batteries because of its high theoretical specific capacity, safety, and natural availability.
  • The automotive segment is expected to register steadily fast revenue growth rate in the global battery binders market over the forecast period owing to increasing adoption of Electric Vehicles (EVs). Over the next two years, the worldwide electric vehicle industry is expected to reach over 25 million electric vehicles on the road. Electric cars will account for one-quarter of all new automotive purchases. However, the performance of lithium-ion batteries that power EVs remains one of the primary challenges to wider adoption. Lithium-ion battery makers have studied innovative anode and cathode materials, as well as adjusted the electrolytes that carry charge between these materials, to solve these concerns.
  • The North America market accounted for largest revenue share in the global battery binders market in 2022 owing to increasing Research & Development (R&D) activities in the region. For example, Quick-Release Binder, was created by scientists at the Lawrence Berkeley National Laboratory in California. Battery binders are paste-like compounds that hold active material particles within the electrode of a lithium-ion battery together so that the electrode and contacts remain connected. Binders are usually made of Styrene-Butadiene Rubber (SBR) or Polyvinylidene Fluoride (PVDF), and these include Per- And Polyfluorokyl Substances (PFAS).

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For the purpose of this report, Emergen Research has segmented the global battery binders market on the type, battery type, material, application, sector, and region:

  • Type Outlook (Revenue, USD Billion; 2019–2032)
    • Anode Binder
    • Cathode Binder
  • Battery Type Outlook (Revenue, USD Billion; 2019–2032)
    • Lithium-ion Batteries
    • Nickel-cadmium (Ni-Cd) Batteries
    • Nickel-metal Hydride (Ni-MH) Batteries
    • Sodium-sulfur (Na-S) Batteries
    • Redox Flow Batteries (RFB)
    • Other Battery Types (Lead–Acid (PbA) Batteries and Flow batteries)
  • Material Outlook (Revenue, USD Billion; 2019–2032)
    • Polyvinylidene Fluoride (PVDF)
    • Carboxymethyl Cellulose (CMC)
    • Polymethyl Methacrylate (PMMA)
    • Styrene-butadiene Copolymer (SBR)
    • Other Materials (Materials for Functional Layer and Sealant for Battery Applications)
  • Application Outlook (Revenue, USD Billion; 2019–2032)
    • Electric Vehicles (EVs)
    • Consumer Electronics
    • Energy Storage Systems
    • Industrial Devices
    • Other Applications (Medical Devices & Marine Devices)
  • Sector Outlook (Revenue, USD Billion; 2019–2032)
    • Automotive
    • Electronics
    • Energy & Utilities
    • Consumer Goods
    •  Aerospace
    •  Marine
    •  Medical
    •  Other Sectors (Telecommunications and Data Centers)
  • Regional Outlook (Revenue, USD Million, 2019–2030)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. UK
      3. France
      4. Spain
      5. BENELUX
      6. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. Israel
      4. Rest of Middle East & Africa

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