LONDON--(BUSINESS WIRE)--The global binder market size for lithium-ion batteries is poised to grow by USD 976.34 million during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 22% during the forecast period.
Read the 162-page research report with TOC on "Binder Market for Lithium-Ion Batteries Analysis Report by type (cathode binders and anode binders), application (power battery, energy storage battery, digital battery, and others) and geographical regions (APAC, North America, Europe, South America, and MEA) 2019 - 2023." Request a Free Sample Report
The market is driven by the significant growth of the consumer electronics industry. In addition, the adoption of sustainable and non-combustible energy sources is expected to further boost the growth of the global binder market for lithium-ion batteries.
The consumption of consumer electronic products has increased significantly over the years, owing to technological advances such as the Internet of things (IoT) and cloud-based storage. Thus, the demand for common consumer electronic products, such as battery-powered audio and video systems, electronic accessories, multimedia players, digital cameras, camcorders, refrigerators, and washing machines is high. As a result, the consumption of lithium-ion batteries is likely to increase, which will drive the growth of the market.
The rising emission levels, volatile fuel cost, and energy insecurity have led to an increased focus on alternative and renewable sustainable fuels, such as wind, hydro, solar, and geothermal energy. Although fossil fuels and petroleum products are adopted as the primary source of energy in several countries, renewables are increasingly becoming cost-competitive sources. Lithium-ion batteries are widely used to store the energy produced by renewable energy sources. Hence, an increase in the production and consumption of sustainable and non-combustible renewable energy will boost market growth during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Arkema SA
- Ashland Global Holdings Inc.
- DuPont de Nemours Inc.
- JSR Corp.
- Kureha Corp.
Market Segmentation by Application:
The binder market for lithium-ion batteries can be broadly categorized into the following segments:
- Power energy
- Energy storage battery
- Digital battery
Key Regions for the Binder Market for Lithium-Ion Batteries:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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