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.
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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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BATTERY BINDER MARKET, BY BATTERY TYPE
CHAPTER 5: BATTERY BINDER MARKET, BY MATERIAL
CHAPTER 6: BATTERY BINDER MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Battery Binder Market,' The battery binder market was valued at $3.5 billion in 2022, and is estimated to reach $7.5 billion by 2032, growing at a CAGR of 7.9% from 2023 to 2032.Battery binders are materials used in the manufacturing of batteries to hold the active materials, such as electrodes and electrolytes, together. They act as a binder or adhesive to ensure the structural integrity of the battery components. Battery binders play a crucial role in improving the performance and reliability of batteries, especially in applications such as lithium-ion batteries (Li-ion), which are widely used in portable electronics, electric vehicles (EVs), and energy storage systems.
One of the primary functions of battery binders is to enhance the electrode integrity. During battery operation, the electrodes undergo repeated expansion and contraction as the lithium ions migrate back and forth between the electrodes during charge and discharge. The binder acts as an adhesive, ensuring that the active materials and conductive additives remain well-connected and do not detach from the electrode structure. This is crucial to prevent capacity degradation and maintain the electrode's mechanical stability over multiple cycles.
Battery binders are used in the electrode manufacturing process. In Li-ion batteries, for example, the anode and cathode electrodes are typically composed of active materials, conductive additives, and binders. The binder acts as a matrix that holds these components together and maintains their structural stability during the charge-discharge cycles.
Battery binders ensure that active materials and conductive additives in the electrodes remain well-connected and do not detach during battery operation. This improves the electrode's structural integrity and prevents capacity degradation. Battery binders play a role in optimizing the electrochemical reactions within the battery, enhancing its overall performance. They can also contribute to improving the thermal stability of the battery and reducing the risk of internal short circuits.
The use of high-quality binders helps increase the cycle life of batteries by minimizing the degradation of electrode materials and maintaining electrode structure over multiple charge-discharge cycles. As battery technologies evolve and become more specialized for different applications, there is a growing need for tailor-made binder materials. Customized binders that meet specific requirements of high-energy-density batteries for EVs, flexible batteries for wearable devices, or high-power batteries for grid-scale energy storage are being developed to optimize performance in each application.
The battery binders market is experiencing significant growth due to the increasing demand for multifunctional battery binders. Multifunctional battery binders are gaining increased attention and demand in recent years due to the rapid growth of the battery industry and the need for improved battery performance. Battery binders are essential components in lithium-ion batteries, responsible for holding together the active materials, such as the cathode and anode, and facilitating ion transport within the battery. Manufacturers are increasingly seeking binders that are less toxic and more easily recyclable, aligning with the broader trend towards sustainable battery technologies.
The growth of the battery binders market is expected to be hampered due to the affinity of binders to liquid electrolytes. The affinity of battery binders to liquid electrolytes plays a significant role in the performance and stability of a battery. A binder with good affinity to the electrolyte will form a strong bond with the active materials and create a stable electrode structure. This can enhance the overall cycling stability, rate capability, and capacity retention of the battery. The binder with poor affinity to the electrolyte may lead to several issues. It can result in poor adhesion between the binder and the active materials, causing electrode delamination or loss of active materials during cycling. It can also hinder the transport of ions between the electrode and the electrolyte, leading to increased resistance and reduced battery performance.
Next-generation batteries are witnessing significant advancements in various aspects, including the development of new battery binders. Battery binders are essential components that hold together the active materials, electrolyte, and other components within a battery cell. The development of conductive binders is gaining attention as they can improve the overall performance of batteries. These binders contain conductive additives or materials, such as carbon nanotubes or graphene, which enhance the electron and ion transport within the battery. By improving conductivity, these binders can increase the rate of charge and discharge, resulting in higher energy density and faster charging times.
For the purpose of analysis, the global battery binders market scope covers 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.
The key players profiled in the study 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.
Key Findings of the Study
As per battery type, the lead acid is the fastest growing segment with the CAGR of 7.9% in 2022.- By materials, the carboxymethyl cellulose segment is experiencing rapid growth, with a CAGR of 8.3%, making it the fastest-growing segment in terms of materials.
- Region wise, Asia-Pacific was the highest revenue contributor as well as fastest growing segment in the market.
Companies Mentioned
- BASF SE
- Targray
- Solvay S.A.
- SYNTHOMER PLC
- Daikin Industries, Ltd.
- The Lubrizol Corporation
- Trinseo S.A.
- Arkema
- Zeon Corporation
- Industrial Summit Technology Corp.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 350 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 3.5 billion |
| Forecasted Market Value ( USD | $ 7.5 billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
