Binder for Lithium-Ion Batteries Market is expected to reach US$ 750.97 million from US$ 1,375.32 million in 2022-2029
Binder materials are polymeric compounds that play an important role in batteries. Lithium-ion battery binders serve to hold the active material particles together within the electrodes of a lithium-ion battery (LIB) and maintain a strong bond between the electrodes and contacts. In recent years, the rapid development of the lithium battery industry has greatly promoted the development of this industry.
Lithium-ion batteries are complex material assemblies, with the highest consumption of metals and minerals in the cathode and anode active materials, collectors, and battery hardware components. Chemicals and plastics are increasingly used in binders, solvents, electrolytes (salts and solutions), and release agents, but additives such as lithium hexafluorophosphate are used to perform critical functions. is creeping up.
The market size of global binders for lithium-ion batteries is expected to reach US$ 750.97 million from US$ 1,375.32 million in 2022-2029, growing at a CAGR of 22.99% during 2022-2029 .
Geographically, China is the largest consumer of lithium-ion battery binders, accounting for approximately 74.89% of the global market in 2022. The rapid growth of power batteries is one of the main factors behind the development of binders for lithium-ion batteries. Power batteries mainly focus on China, Japan and South Korea.
The global production capacity of lithium-ion batteries for electric vehicles and energy storage is about 130 GWh per year. China holds the largest share. At the same time, the capacity of lithium-ion batteries in these regions continues to increase rapidly, which directly drives the rapid growth of lithium-ion battery binders. But in the future, Europe and North America will grow faster as electric car makers require battery makers to set up factories on their premises.
After years of development, the lithium-ion battery has become a safe and reliable source of energy. Today, this type of rechargeable battery is used in both portable and stationary applications, such as cell phones, laptops, tablets and electric cars. There are many different types of batteries as well as battery management systems. Batteries come in three main categories: liquid metal (lithium), lithium-ion batteries and nickel metal hydride (NiMH). Each have their own advantages in terms of safety, energy density and longevity which influence their use within the auto industry.