Lithium-ion Battery Binders Market: Overview
Lithium-ion (Li-ion) battery is majorly used in portable devices. It is rechargeable in nature and has high energy density. Lithium-ion battery binder market is anticipated to witness significant upsurge owing to increasing demand for tablets, laptop computer, smartphones, digital cameras, and similar power based devices.
Moreover, with advent of electric vehicles, lithium ion battery binder market is anticipated to witness demand in automobile industry. Lithium-ion battery is suitable alternative to nickel metal batteries, as it is light weight small in size. This is one of the key reasons, lithium-ion batteries are gaining traction among automobile manufacturers.
Further, emergence of cutting edge technologies such as cloud based storage and IoT has fuelled adoption rate of consumer electronic products. Consumers are becoming highly reliable on electronic devices such as computers, mobile phones, wearable devices, and other electronic devices to track and manage their routine work.
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Rising awareness about health and fitness among millennial population is leading to high adoption rate of wearable devices. This is one of the key trends likely to drive lithium-ion binder market. Further, growing sports participation rate is also propelling adoption of wearable devices as it helps track and improve performances of athletes.
To make the device light weight and comfortable, consistent research and development activities have been going on. This has impelled use of reliable batteries to provide accurate and continuous vital health data.
Hence, lithium-ion battery manufacturers are focusing on development of lighter batteries such as micro-batteries and flat lithium-ion cell in order to make profit out of the ongoing trend.
Rising adoption rate of wearable devices is anticipated to influence the global lithium-ion battery market in foreseeable future.
Further, increasing literacy rate and rising disposable income are likely to influence demand for consumer electronic devices and smartphones. The rise in sale of consumer electronic devices and mobile phones are likely to influence demand for lithium ion batteries in forthcoming years. Hence, lithium-ion binder market is expected to expand in coming years.
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Lithium-ion Battery Binders Market: Introduction
- A binding agent or a binder is any substance or material which draws or holds other materials together in order to form a bond— chemically and mechanically— by cohesion or adhesion. Lithium-ion battery is a leading technology used for powering a variety of devices ranging from cell phones to electric vehicles. Moreover, the quality of materials utilized and proper treating are crucial factors to obtain batteries with superior performance and a high level of safety.
- Battery-grade binders possess various characteristics such as superior ionic conductivity, water absorption, tensile strength, adhesion, high melting point, swelling in electrolytes, molecular weight distribution, high purity, and dissolution.
Key Drivers of Global Lithium-ion Battery Binders Market
- With the advent of new technologies, including cloud-based storage and Internet of Things (IoT), adoption of different types of consumer electronics products has significantly risen. In addition, continuous advancements in the wireless telecommunication technology have enhanced the penetration of smart devices as well as smartphones. This is a major factor expected to increase the adoption of lithium-ion batteries in smart devices in the near future. This, in turn, is expected to drive the global lithium-ion batteries binders market during the forecast period. Increase in the rate of literacy, rise in the purchasing power of consumers, and growth of economy in developing as well as developed countries have increased the adoption of electronics devices. This, rise in sales of consumer electronics products and smart devices is expected to drive the global lithium-ion battery binders market in the near future.
- Increase in the adoption of smart wearable devices and gadgets, such as smart watches and smart glasses, in another key factor boosting the global lithium-ion battery binders market. With the use of advanced technologies, wearable devices are becoming smaller and lighter. Reliable batteries are required for wearable devices, as they continuously generate records of crucial data. This, in turn, is expected to augment the demand for lithium-ion batteries in the next few years. This is another factor anticipated to boost the global lithium-ion battery binders market during the forecast period.
- However, availability of different substitutes, development of binder-free electrodes for use in lithium-ion batteries, and safety concerns related to lithium-ion batteries are key factors expected to hamper the global lithium-ion batteries binders market during the forecast period
Rise in Demand for Lithium-ion Battery Binders for Use in Consumer Electronics Products
- Based on type, the global lithium-ion battery binders market can be divided into cathode binder and anode binder. The cathode binder segment is projected to account for a major share of the global market, in terms of revenue, during the forecast period. Cathode binders are widely utilized, owing to their cost-effectiveness and low impact on the environment.
- In terms of application, the global lithium-ion battery binders market can be classified into consumer electronics, automotive, aerospace & defense, and others. In terms of revenue, the consumer electronics segment is expected to hold a major share of the global market during the forecast period. Increase in the adoption of smart devices and smart wearables among consumers is a major factor fueling the segment.
Asia Pacific a Key Market for Lithium-ion Battery Binders
- In terms of region, the global lithium-ion battery binders market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, Asia Pacific is expected to account for a significant share of the global lithium-ion battery binders market during the forecast period. This can be attributed to increase in the number of consumers adopting different types of consumer electronics products in the region. The market in Asia Pacific is expected to witness rapid growth during the forecast period. This can be ascribed to increasing preference of consumers for electric vehicles and rising usage of smart devices in the region.
Key Manufacturers Operating in Global Market
- Key players are constantly focusing on the development of enhanced-quality lithium-ion battery binders with the objective to expand their product offerings and gain a competitive edge in the global lithium-ion battery binders market
Key Manufacturers Operating in Global Market:
- The DuPont Chemical Company
- Arkema SA
- JSR Corporation
- KUREHA CORPORATION
- APV Engineered Coatings
- Targray Technology International Inc.
- UBE INDUSTRIES, LTD.
- Zeon Corporation
The sustainability aspects have dramatically changes the raw material sourcing strategies for many businesses in the Lithium-ion Battery Binders market. Players have become more responsible toward reducing or managing the waste, are adopting material informatics equipped with artificial intelligence (AI), and adopting energy-efficient production processes in order to maximize returns on invested capital.
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