Frequently Asked Questions
The global Lithium-ion battery binders market was valued at USD 1.3 Billion in 2022.
The Lithium-ion battery binders market is expected to grow at a CAGR of 18.90% between 2023 and 2030, reaching USD 4.367333276 Billion in 2030.
Battery chemistry is the leading segment by type, holding around more than two-thirds of the share in value in 2022.
Automotive governs the demand for Lithium-ion battery binders worldwide, holding a massive share of nearly 30% in 2022.
Anode binders segments are expected to post the highest CAGR during the forecast period.
Europe is fueling the growth of the Lithium-ion battery binders industry, with nearly three-fifth share in 2022.
The top players include Arkema SA, APV Engineered Coatings, Inc., Ashland Global Holdings, Inc., BASF SE, Bayer AG, Elf Atochem S.A., Fujian Blue Ocean & Black Stone Technology Co., Ltd., FUJIFILM Wako Pure Chemical Corp., and others.
Growing demand for electric vehicles (EVs) as lithium-ion batteries are widely used in EVs & the constant advancements in battery technology, such as higher energy density and longer cycle life, create a need for efficient binders are the major market drivers.
Volatility of raw material prices, particularly for binder components like polymers and solvents & limited availability of raw materials, such as lithium and cobalt, and environmental concerns are still restraints of the Lithium-ion battery binders industry.
Rising focus on sustainable energy storage solutions and the transition towards clean energy sources & the rising popularity of portable electronics, and the need for efficient energy storage solutions in various industries like healthcare and telecommunications provide a favorable market landscape.