Home >> Business >> Lithium Ion Battery Separator Market Is Expected To Reach US$ 8.11 Bn by 2027 |Credence Research

Lithium Ion Battery Separator Market Is Expected To Reach US$ 8.11 Bn by 2027 |Credence Research

According to a new market research report published by Credence Research, “Lithium Ion Battery Separator Market By Battery Type (Lithium Ion, Lead Acid, Others), By Material Type (Polypropylene, Polyethylene, Others), By End-Use Industry (Automotive, Industrial, Consumer Electronics, Others)  and By Geography (North America, Europe, Asia Pacific, and Rest of the World)) – Growth, Future Prospects, and Competitive Landscape, 2019-2027”, the global lithium ion battery separator market is expected to reach US$ 8.11 Bn by 2027, expanding at a CAGR of 11.3% during the forecast from 2019 to 2027. 

Browse the full report at “Lithium Ion Battery Separator Market

Market Insights

The separators forms as an integral part of lithium ion batteries. Separators are mostly used to prevent electric conduction between the anode and cathode, along with permitting ionic conductions through electrolytes. There are two types of Li-Ion separators such as Wet separator and Dry separator. Generally, these separators are made up of non-woven fiber, polymer films, and ceramic materials. Government norms and policies, efforts on reducing cost of Li-Ion batteries, increasing number of off grid solar power, and growing adoption for electric vehicles (EV) are expected to drive the market for lithium ion battery separator worldwide.

Electric vehicles (EV) manufacturers are becoming one of the prominent consumer base for lithium-ion batteries. With increasing demand for electric vehicles (EV), lithium-ion batteries consumption is expected to continue increasing thereby fueling the demand for lithium-ion battery separators market. Rising penetration [A1] of electronic gadgets such as smart phones, tablets, etc. further driving the demand for lithium ion battery separators market globally.

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Growing demand for lithium-ion batteries have encouraged few manufacturers such as SK IE Technology to increase their production capacity by expanding its production units in China. This expansion project involves increasing annual production capacity of Lithium-Ion battery separators (LiBS) from 360 million square meters to 530 million square meters. Similarly, Toray Industries is planning to start its new LiBS manufacturing unit in Hungary for electric vehicles. Mounting demand for LiBS and increasing involvement of manufacturers is expected to boost the market demand for lithium ion battery separators.

In the recent years, North America is one of the pioneer in terms of research and development of lithium ion battery separators. Increase in number of installation of renewable energy sources and its integration with energy storage systems (ESS) will boost the demand for lithium ion battery separators across this region.

However, government environmental policies and regulations, mismatch in demand-supply of Li-Ion batteries, and safety concern towards polyolefin separators are expected to inhibits the demand for lithium-ion battery separator market globally.

Some of the leading manufacturers profiled in the study includes Toray Industries, Inc., Ltd., Entek International LLC, Ube Industries, Ltd., SK Innovation Co Ltd, Mitsubishi Electric Corporation, Asahi Kasei Corp., Freudenberg Group, W-SCOPE Corporation, Targray Technology International Inc., and Sumitomo Chemical Co.

Blog Medium: https://medium.com/@kumarganesh028/lithium-ion-battery-separator-market-is-expected-to-reach-us-8-11-bn-by-2027-credence-research-503e43c70ef1

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