The lithium-ion battery binders market is projected to grow from USD 1.6 billion in 2022 to USD 3.7 billion by 2027, at a CAGR of 18.7% from 2022 to 2027. Lithium-ion battery binders are used in the manufacturing of lithium-ion battery electrodes. There is a significant surge in demand for electric vehicles which has enhanced the market for lithium-ion batteries across the globe. Thus, has increase the demand for lithium-ion battery binders.
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Based on type, lithium-ion battery binders are segmented in anode lithium-ion battery binders and cathode lithium-ion battery binders. Anode lithium-ion battery binders is expected to be the largest segment during the forecast period, by value. Anode binders are typically a small percentage of the overall weight of a lithium-ion battery but are essential to battery cell construction and delivering a range of benefits, such as safety enhancements and energy density to capacity. This is further expected to drive the market share of this segment.
Based on material, lithium-ion battery binders are segmented in polyvinylidene fluoride, carboxymethyl cellulose, polymethyl methacrylate, polytetrafluoroethylene, styrene butadiene copolymer, and others. polyvinylidene fluoride material is expected to be the largest segment during the forecast period. Polyvinylidene fluoride or polyvinylidene difluoride (PVDF) is a highly non-reactive and pure thermoplastic fluoropolymer produced by the polymerization of vinylidene difluoride. It is a semi-crystalline polymer with high crystallinity and high melting temperature. Its is widely used in the formation of lithium-ion battery binders. Thus, wide usage of polyvinylidene fluoride as a battery binders is expected to propel the market for the segment.
Key players in the lithium-ion battery binders market include Arkema (US), Solvay (Belgium), LG Chem (South Korea), ENEOS Corporation (Japan), and Zeon Corporation (Japan), among others.
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Substantial investments have been made in the past few years by the key players to address the growing demand for lithium-ion battery binders. These players have adopted strategies such as product launches, expansions, joint ventures, investments, partnerships, to enhance their business revenue and market share. Expansion of production units globally and new product launches is the key strategy adopted by these players to cater to the increasing demand for lithium-ion battery binders.
Arkema is one of the leading manufacturers of resins and additives with a broad product portfolio of paints, varnishes, and lacquer solutions. The company operates business through four reportable segments, namely, adhesives, coating solutions, advanced materials, and intermediates. It offers battery binders under the advanced materials segment, which includes high-performance polymers and performance additives. Arkema offers Kynar PVDF solutions used in lithium-ion battery technology as electrode binders for active materials. The company’s ongoing innovation has produced solutions that are currently used for separator coatings as well as anode and cathode binders. It has a strong focus on R&D in developing electric mobility, offering a range of materials, which enhance the performance of batteries.
Another important player in the global lithium-ion batteries market is Solvay. It is one of the leading manufacturers of resins and additives with a broad product portfolio of paints, varnishes, and lacquer solutions. The company operates business through four reportable segments, namely, adhesives, coating solutions, advanced materials, and intermediates. It offers battery binders under the advanced materials segment, which includes high-performance polymers and performance additives. Arkema offers Kynar PVDF solutions used in lithium-ion battery technology as electrode binders for active materials. The company’s ongoing innovation has produced solutions that are currently used for separator coatings as well as anode and cathode binders. It has a strong focus on R&D in developing electric mobility, offering a range of materials, which enhance the performance of batteries.
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