The lithium-ion battery binders market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.51 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth observed in the historical period can be attributed to the surge in electric vehicle adoption, the expansion of portable electronic devices, the growth in renewable energy storage, the increase in consumer electronics demand, and the 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 $4.68 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The anticipated growth in the forecast period can be attributed to improvements in the energy density of batteries, the growth in electric grid applications, the adoption of lithium-ion batteries in medical devices, the demand for lightweight battery solutions, the integration of lithium-ion batteries in smart devices, and the customization of binders for specific battery chemistries. Key trends in the forecast period include technological innovations in battery materials, advancements in lithium-ion battery technology, collaboration between battery manufacturers and automakers, the development of sustainable and eco-friendly binders, and the integration of artificial intelligence in battery manufacturing.
The anticipated increase in the adoption of electric vehicles (EVs) is poised to drive the growth of the lithium-ion battery binders market in the future. Electric vehicles (EVs) are vehicles powered by electric motors utilizing electrical energy stored in rechargeable batteries or obtained externally. Lithium-ion batteries, renowned for their high energy density, reliability, and ability to provide ample power for extended driving distances on a single charge, are the predominant choice for electric vehicles (EVs). As of March 2022, data from the United States Department of Energy revealed an 85% increase in EV sales between 2020 and 2021. The number of new light-duty plug-in electric vehicle sales nearly doubled from 308,000 in 2020 to 608,000 in 2021, with EV sales constituting 73% of all plug-in electric car sales in 2021. Thus, the surging adoption of electric vehicles (EVs) is a significant driver for the growth of the lithium-ion battery binder market.
The escalating demand for consumer electronic devices is anticipated to contribute to the expansion of the lithium-ion battery binders market. Consumer electronic devices, including smartphones, laptops, and entertainment gadgets, utilize lithium-ion battery binders to enhance electrode stability, promote ion conductivity, and ensure efficient charge and discharge cycles. These factors contribute to prolonged battery life and overall performance. As of May 2023, information from the Japan Electronics and Information Technology Industries Association indicated that the total electronic equipment production in Japan reached $52,36,535 million (¥771,457 million). Additionally, consumer electronics production amounted to $2,178,430 million (¥32,099 million) in May 2023, compared to $1,714,724 million (¥25,268 million) in May 2022. Hence, the rising demand for consumer electronic devices is propelling the growth of the lithium-ion battery binder market.
A significant trend in the lithium-ion battery binder market is the emphasis on product innovation by major companies to strengthen their market positions. In June 2021, Arkema SA, a France-based specialty materials manufacturer, introduced Kynar PVDF (Polyvinylidene fluoride) for lithium-ion batteries. This unique product, produced using only renewable carbon from bio-feedstocks such as crude oil, can reduce the climate change impact by around 20%, as per the ISO 14040 standard. The renewable PVDF binder aids in binding active components and preventing clumping in lithium-ion batteries, contributing to improved performance and safety while minimizing the carbon footprint.
Major players in the lithium-ion battery binder market are actively developing products such as acrylic-based binders to enhance battery performance, durability, and sustainability. In September 2023, Arkema SA launched the INCELLION range under the brand name, specifically designed for application in electric vehicle (EV) and energy storage system (ESS) battery cells. This innovative product line includes advanced acrylic-based binders, dispersants, and rheology modifiers crafted to enhance electrode and separator formulations. The INCELLION El waterborne acrylic polymers, serving as binders for anode active materials, enable increased silicon (Si) formulation while providing mechanical strength and flexibility to address volume expansion challenges.
In November 2021, Koura, a US-based chemical manufacturing company, acquired Silatronix for an undisclosed amount. This strategic acquisition aims to expand Koura's presence in the lithium-ion battery market and advance new and improved lithium-ion battery technologies. Silatronix is a US-based manufacturer specializing in lithium-ion battery binders.
Major companies operating in the lithium-ion battery binders market report are 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
Asia-Pacific was the largest region in the lithium-ion battery binders market in 2023. 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. The countries covered in the lithium-ion battery binders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary types of lithium-ion battery binders include anode binders and cathode binders. An anode binder is a material used in the manufacturing of lithium-ion batteries, serving as a conductive adhesive to ensure optimal electrical contact between the active materials and the current collector. It encompasses various battery chemistries such as lithium iron phosphate, lithium nickel manganese cobalt, lithium titanate oxide, and others. Materials commonly applied include polyvinylidene fluoride, carboxymethyl cellulose, polymethyl methacrylate, and styrene-butadiene copolymer. These binders find applications in various sectors, including automotive, consumer electronics, industrial, energy storage, and others.
The lithium-ion battery binders market research report is one of a series of new reports that provides lithium-ion battery binders market statistics, including lithium-ion battery binders industry global market size, regional shares, competitors with a lithium-ion battery binders market share, detailed lithium-ion battery binders market segments, market trends and opportunities, and any further data you may need to thrive in the lithium-ion battery binders industry. This lithium-ion battery binders market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The lithium-ion battery binders market consists of sales of polyethylene oxide, polyvinylpyrrolidone, polyacrylonitrile, and polyimides. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The lithium-ion battery binders market size is expected to see rapid growth in the next few years. It will grow to $4.68 billion in 2028 at a compound annual growth rate (CAGR) of 16.8%. The anticipated growth in the forecast period can be attributed to improvements in the energy density of batteries, the growth in electric grid applications, the adoption of lithium-ion batteries in medical devices, the demand for lightweight battery solutions, the integration of lithium-ion batteries in smart devices, and the customization of binders for specific battery chemistries. Key trends in the forecast period include technological innovations in battery materials, advancements in lithium-ion battery technology, collaboration between battery manufacturers and automakers, the development of sustainable and eco-friendly binders, and the integration of artificial intelligence in battery manufacturing.
The anticipated increase in the adoption of electric vehicles (EVs) is poised to drive the growth of the lithium-ion battery binders market in the future. Electric vehicles (EVs) are vehicles powered by electric motors utilizing electrical energy stored in rechargeable batteries or obtained externally. Lithium-ion batteries, renowned for their high energy density, reliability, and ability to provide ample power for extended driving distances on a single charge, are the predominant choice for electric vehicles (EVs). As of March 2022, data from the United States Department of Energy revealed an 85% increase in EV sales between 2020 and 2021. The number of new light-duty plug-in electric vehicle sales nearly doubled from 308,000 in 2020 to 608,000 in 2021, with EV sales constituting 73% of all plug-in electric car sales in 2021. Thus, the surging adoption of electric vehicles (EVs) is a significant driver for the growth of the lithium-ion battery binder market.
The escalating demand for consumer electronic devices is anticipated to contribute to the expansion of the lithium-ion battery binders market. Consumer electronic devices, including smartphones, laptops, and entertainment gadgets, utilize lithium-ion battery binders to enhance electrode stability, promote ion conductivity, and ensure efficient charge and discharge cycles. These factors contribute to prolonged battery life and overall performance. As of May 2023, information from the Japan Electronics and Information Technology Industries Association indicated that the total electronic equipment production in Japan reached $52,36,535 million (¥771,457 million). Additionally, consumer electronics production amounted to $2,178,430 million (¥32,099 million) in May 2023, compared to $1,714,724 million (¥25,268 million) in May 2022. Hence, the rising demand for consumer electronic devices is propelling the growth of the lithium-ion battery binder market.
A significant trend in the lithium-ion battery binder market is the emphasis on product innovation by major companies to strengthen their market positions. In June 2021, Arkema SA, a France-based specialty materials manufacturer, introduced Kynar PVDF (Polyvinylidene fluoride) for lithium-ion batteries. This unique product, produced using only renewable carbon from bio-feedstocks such as crude oil, can reduce the climate change impact by around 20%, as per the ISO 14040 standard. The renewable PVDF binder aids in binding active components and preventing clumping in lithium-ion batteries, contributing to improved performance and safety while minimizing the carbon footprint.
Major players in the lithium-ion battery binder market are actively developing products such as acrylic-based binders to enhance battery performance, durability, and sustainability. In September 2023, Arkema SA launched the INCELLION range under the brand name, specifically designed for application in electric vehicle (EV) and energy storage system (ESS) battery cells. This innovative product line includes advanced acrylic-based binders, dispersants, and rheology modifiers crafted to enhance electrode and separator formulations. The INCELLION El waterborne acrylic polymers, serving as binders for anode active materials, enable increased silicon (Si) formulation while providing mechanical strength and flexibility to address volume expansion challenges.
In November 2021, Koura, a US-based chemical manufacturing company, acquired Silatronix for an undisclosed amount. This strategic acquisition aims to expand Koura's presence in the lithium-ion battery market and advance new and improved lithium-ion battery technologies. Silatronix is a US-based manufacturer specializing in lithium-ion battery binders.
Major companies operating in the lithium-ion battery binders market report are 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
Asia-Pacific was the largest region in the lithium-ion battery binders market in 2023. 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. The countries covered in the lithium-ion battery binders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The primary types of lithium-ion battery binders include anode binders and cathode binders. An anode binder is a material used in the manufacturing of lithium-ion batteries, serving as a conductive adhesive to ensure optimal electrical contact between the active materials and the current collector. It encompasses various battery chemistries such as lithium iron phosphate, lithium nickel manganese cobalt, lithium titanate oxide, and others. Materials commonly applied include polyvinylidene fluoride, carboxymethyl cellulose, polymethyl methacrylate, and styrene-butadiene copolymer. These binders find applications in various sectors, including automotive, consumer electronics, industrial, energy storage, and others.
The lithium-ion battery binders market research report is one of a series of new reports that provides lithium-ion battery binders market statistics, including lithium-ion battery binders industry global market size, regional shares, competitors with a lithium-ion battery binders market share, detailed lithium-ion battery binders market segments, market trends and opportunities, and any further data you may need to thrive in the lithium-ion battery binders industry. This lithium-ion battery binders market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The lithium-ion battery binders market consists of sales of polyethylene oxide, polyvinylpyrrolidone, polyacrylonitrile, and polyimides. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Lithium-ion Battery Binders Market Characteristics3. Lithium-ion Battery Binders Market Trends and Strategies32. Global Lithium-ion Battery Binders Market Competitive Benchmarking33. Global Lithium-ion Battery Binders Market Competitive Dashboard34. Key Mergers and Acquisitions in the Lithium-ion Battery Binders Market
4. Lithium-ion Battery Binders Market - Macro Economic Scenario
5. Global Lithium-ion Battery Binders Market Size and Growth
6. Lithium-ion Battery Binders Market Segmentation
7. Lithium-ion Battery Binders Market Regional and Country Analysis
8. Asia-Pacific Lithium-ion Battery Binders Market
9. China Lithium-ion Battery Binders Market
10. India Lithium-ion Battery Binders Market
11. Japan Lithium-ion Battery Binders Market
12. Australia Lithium-ion Battery Binders Market
13. Indonesia Lithium-ion Battery Binders Market
14. South Korea Lithium-ion Battery Binders Market
15. Western Europe Lithium-ion Battery Binders Market
16. UK Lithium-ion Battery Binders Market
17. Germany Lithium-ion Battery Binders Market
18. France Lithium-ion Battery Binders Market
19. Italy Lithium-ion Battery Binders Market
20. Spain Lithium-ion Battery Binders Market
21. Eastern Europe Lithium-ion Battery Binders Market
22. Russia Lithium-ion Battery Binders Market
23. North America Lithium-ion Battery Binders Market
24. USA Lithium-ion Battery Binders Market
25. Canada Lithium-ion Battery Binders Market
26. South America Lithium-ion Battery Binders Market
27. Brazil Lithium-ion Battery Binders Market
28. Middle East Lithium-ion Battery Binders Market
29. Africa Lithium-ion Battery Binders Market
30. Lithium-ion Battery Binders Market Competitive Landscape and Company Profiles
31. Lithium-ion Battery Binders Market Other Major and Innovative Companies
35. Lithium-ion Battery Binders Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Lithium-ion Battery Binders Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on lithium-ion battery binders market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for lithium-ion battery binders? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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
Key Companies Mentioned: Mitsui Chemicals Inc.; BASF SE; Dow; SABIC; LG Chem
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- 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
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 2.51 Billion |
| Forecasted Market Value ( USD | $ 4.68 Billion |
| Compound Annual Growth Rate | 16.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
