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2023

Battery Binder Market

Battery Binder Market Size, Share, Competitive Landscape and Trend Analysis Report by Battery Type (Lithium-ion, Lead Acid, Nickel Cadmium, Others), by Material (Polyvinylidene Fluoride, Carboxymethyl Cellulose, Polymethyl Methacrylate, Styrene-butadiene Copolymer, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: Naresh Mawlankar & Nikhil Mittal | Eswara Prasad
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Battery Binder Market Research, 2032

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.

Report Key Highlighters:

  • The battery binders market study covers 20 countries. The research includes a segment analysis of each country in terms of both value ($million) and volume (kilotons) for the projected period 2023-2032.
  • The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
  • Over 3,700 product literatures, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
  • The battery binders market is highly fragmented, with several players including Arkema, The Lubrizol Corporation, BASF SE, Solvay S.A., Daikin Industries, Ltd., Zeon Corporation, Targray, I.S.T Corporation, Synthomer PLC, and Trinseo. Also tracked key strategies such as acquisitions, product launches, mergers, expansion etc. of the players operating in the aerogel market.

Battery Binder Market

Battery binders play a crucial role in lithium-ion batteries by holding together the active materials in the electrode and ensuring their adhesion to the current collector or separator membrane. They contribute to the structural integrity, stability, and performance of the battery. They are responsible for holding the electrode materials together, assisting in adhesion to metal or separator membranes, and ensuring the uniform dispersion of active materials within the battery electrode.

Battery binders, known as electrode binders, are used in the manufacture of rechargeable batteries to hold the active materials of the electrodes together and provide mechanical stability. They are essential components in the construction of lithium-ion batteries, which are widely used in various applications, including portable electronics, electric vehicles, and energy storage systems.

The primary function of battery binders is to create a strong and conductive matrix that holds the active materials, such as lithium compounds and graphite, in place within the electrode structure. These binders help to maintain the structural integrity of the electrodes during the charge and discharge cycles of the battery, preventing the active materials from detaching or crumbling.

Battery binders are polymeric materials that possess adhesive properties, allowing them to bond the active materials to the current collectors and bind the electrode components together. They need to exhibit excellent adhesion, high elasticity, and chemical stability to withstand the demanding conditions of battery operation, including repeated expansion and contraction of the electrode materials during charging and discharging.

Battery binders serve several functions in lithium-ion batteries. They contribute to the structural integrity of the electrodes by holding the active materials, conductive additives. Battery binders prevent the loss of active material during the charge and discharge cycles of the battery, thereby enhancing its cycle life and stability by forming a cohesive network.

Battery binders help in the dispersion of electrode materials in solvents or water, facilitating the formation of a uniform slurry. This homogeneous distribution is crucial for achieving consistent electrode coatings with high-quality interfaces between the active material and the current collector.

The scope of battery binders includes their formulation, synthesis, characterization, and application in the production of high-performance and safe rechargeable batteries. Continuous advancements in binder technology contribute to the development of more efficient and reliable energy storage systems, thereby facilitating the widespread adoption of electrification and renewable energy technologies.

Increase in demand for battery binders in electric vehicles drives the growth of battery binders market.

Battery binders are essential components in lithium-ion batteries used in electric vehicles (EVs) due to their role in maintaining the battery's structural integrity and preventing active material loss during charge and discharge cycles. They act as a bonding substance, holding together the electrode components, including active materials, conductive additives, and current collectors.

Electrical vehicle manufacturers aim to improve driving range and reduce charging times, they require higher-capacity battery cells that rely on optimized binders for stability and durability under increased stress. The growing sales of electric cars, with a 4% increase in 2021, and the projected scenario of reaching net zero emissions by 2050 indicate a significant rise in the demand for electric vehicles, thereby increasing the need for battery binders to match the scaling battery production.

Advancements in next-generation batteries are expected to provide sufficient development prospects for the expansion battery binders market in the future years.

Advancements in battery technology have led to the development of new and improved multifunctional battery binders. These binders possess enhanced properties, including better adhesion, mechanical strength, and thermal stability. They are designed to meet the requirements of advanced battery chemistries as battery technology continues to evolve. The demand for battery binders is further driven by global trends in energy storage. For instance, China has announced plans to significantly increase its non-pumped hydro energy storage capacity by 2025. In addition, the adoption of power tariffs, which create variations in power prices, contributes to the growth in demand for battery binders.

However, the affinity of binders to liquid electrolytes is expected to hinder the growth of the battery binders market during the forecast period. The interaction between binders and liquid electrolytes is crucial for the performance of energy storage devices, especially lithium-ion batteries. Binders are responsible for holding active materials and conductive additives together in the electrode structure of the battery. They play a vital role in maintaining the mechanical integrity of the electrode during charge and discharge cycles.

One of the main concerns in lithium-ion batteries is the reactions that occur at the interface between the lithium metal and the liquid electrolyte. Battery binders with high affinity to electrolyte have been found to improve performance. For instance, polyvinylidene fluoride (PVDF) is a commonly used binder for graphite anodes in Li-ion batteries due to its favorable affinity to the liquid electrolyte.

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.

Battery Binder Market by Battery Type

Lithium-ion batteries are widely used in various applications, including electric vehicles, portable electronics, and renewable energy storage systems. The performance and safety of lithium-ion batteries depend not only on the active materials, such as the cathode and anode, but also on the components that hold these materials together.

Battery Binder Market by Material

The polyvinylidene fluoride segment dominated the metal abrasives market in 2022. Polyvinylidene fluoride (PVDF) is indeed used as a binder material in batteries, particularly in lithium-ion batteries (Li-ion). PVDF is a high-performance polymer known for its excellent chemical resistance, mechanical strength, and thermal stability, which make it suitable for demanding applications such as battery binders.

PVDF is often preferred as a binder material due to its unique properties. It has good adhesion to various electrode materials, including metal foils and active particles. PVDF can form a strong bond with the active materials, which enhances the overall electrode performance and stability. Additionally, PVDF has excellent chemical compatibility with the electrolyte used in Li-ion batteries, which minimizes unwanted side reactions and improves the long-term stability of the battery.

Battery Binder Market by Region

On the basis of region, the Asia-Pacific dominated the battery binders market in terms of revenue in 2022. China is the leading global producer of lithium-ion batteries, primarily driven by the growing demand for electric vehicles and renewable energy storage systems. The most commonly used battery binders in China are polyvinylidene fluoride (PVDF), carboxymethyl cellulose (CMC), and styrene-butadiene rubber (SBR).

Competitive intelligence on prominent manufacturers of aerogel provides key insights on the strategies implemented to gain a significant share in the global aerogel market. Top market players in global battery binders are adopting product launch, partnership, and expansion as their key business strategies to sustain in the competitive market. Some of the leading manufacturers profiled in this report include Arkema, The Lubrizol Corporation, BASF SE, Solvay S.A., Daikin Industries, Ltd., Zeon Corporation, Targray, I.S.T Corporation, Synthomer PLC, and Trinseo.

Historical Trends of Battery Binders:

  • In 1859, Gaston Plante developed the lead-acid battery, a significant advancement in battery technology. These batteries used lead electrodes and a sulfuric acid electrolyte. Initially, Plante used asphalt as a binder to hold the active material on the lead grids.
  • In the 1990s, polyvinylidene fluoride (PVDF) emerged as a commonly used battery binder material for lithium-ion batteries. PVDF is a high-performance polymer known for its exceptional chemical stability, mechanical strength, and adhesion properties. These characteristics make it well-suited for use as a binder in lithium-ion battery electrodes.
  • In the early 2000s, researchers began exploring the use of alternative binder materials to address limitations and improve battery performance. These included carboxymethyl cellulose (CMC), styrene-butadiene rubber (SBR), and polyacrylic acid (PAA).
  • In 2003, solid polymer electrolytes, such as polyethylene oxide (PEO) and polyacrylonitrile (PAN)-based polymers, were investigated as combined binder-electrolyte materials to simplify the cell assembly process and improve interfacial stability.

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.

Battery Binder Market Report Highlights

Aspects Details
Market Size By 2032
Market Size By 2032

USD 7.5 billion

Growth Rate
Growth Rate

CAGR of 7.9%

Forecast period
Forecast period

2022 - 2032

Report Pages
Report Pages

350

Battery Binder Market By Battery Type
By Battery Type
  • Lead Acid
  • Nickel Cadmium
  • Others
  • Lithium-ion
Battery Binder Market By Material
By Material
  • Polyvinylidene Fluoride
  • Carboxymethyl Cellulose
  • Polymethyl Methacrylate
  • Styrene-butadiene Copolymer
  • Others
Battery Binder Market By Region
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
Key Market Players

BASF SE, SYNTHOMER PLC, Arkema, Targray, Solvay S.A., Industrial Summit Technology Corp., The Lubrizol Corporation, Trinseo S.A., Daikin Industries, Ltd., Zeon Corporation

Analyst Review

According to the opinions of various CXOs of leading companies, the metal abrasives market is driven by rise in demand for lithium-ion batteries. Lithium-ion battery binders have a vital function in the fabrication of lithium-ion batteries. Their primary purpose is to securely bind the active materials, including the cathode and anode, while also providing structural support to the battery electrodes. Acting as an adhesive substance, the binder effectively holds the active materials together and ensures continuous contact with the current collectors, enabling efficient electron and ion transfer within the battery.

Mechanical binding of battery binders drives the growth of the battery binders market. Mechanical binding of battery binders is a technique that aims to securely hold the binders in position without relying solely on adhesives or chemical bonding. Instead, various methods are employed to achieve physical attachment. One common method is the use of snap-fits, which involve designing interlocking features on the binder and battery housing. These features, such as tabs, hooks, or grooves, allow the binder and housing to snap or click together, ensuring a secure connection. This approach is frequently employed in consumer electronics, where batteries often need to be easily replaceable.

However, the affinity of binders to liquid electrolytes is expected to restrain industry expansion. The performance of energy storage devices, especially lithium-ion batteries, can be significantly influenced by the affinity of binders to liquid electrolytes. Binders are responsible for holding the active materials and conductive additives together in the electrode structure. They play a vital role in maintaining the electrode's mechanical integrity during charge and discharge cycles. A crucial concern in lithium-ion batteries is the reactions occurring at the interface between the lithium metal and the liquid electrolyte. Researchers have discovered that battery binders exhibit a high affinity, which leads to improved performance.

The Asia-Pacific region is projected to register robust growth during the forecast period. China, the world's leading producer of lithium-ion batteries, has witnessed a significant surge in demand for battery binders primarily driven by the increasing adoption of electric vehicles (EVs) and renewable energy storage systems. The most commonly used battery binders in China include polyvinylidene fluoride (PVDF), carboxymethyl cellulose (CMC), and styrene-butadiene rubber (SBR). These binders play a crucial role in enhancing the performance and stability of lithium-ion batteries, making them vital components in the rapidly expanding market of EVs and renewable energy.

Author Name(s) : Naresh Mawlankar & Nikhil Mittal | Eswara Prasad
Frequently Asked Questions?

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 metal hydride, 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.

Lithium ion is the leading battery type of Battery Binder Market.

Asia-Pacific is the largest regional market for Battery Binder Market

Mechanical binding of battery binders, Rise in demand for multifunctional battery binders, and Increase in demand for battery binders in electric vehicles are the driving factor of Battery Binders Market.

Advancements in next-generation batteries are the upcoming trends of Battery Binder Market in the world.

Arkema, The Lubrizol Corporation, BASF SE, Solvay S.A., Daikin Industries, Ltd., Zeon Corporation, Targray, I.S.T Corporation, Synthomer PLC, and Trinseo are the top companies to hold the market share in Battery Binder Market.

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.

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Battery Binder Market

Global Opportunity Analysis and Industry Forecast, 2023-2032