The global battery coating market size is expected to reach USD 995.5 million by 2030, according to a new study by Polaris Market Research. The report “Battery Coating Market Share, Size, Trends, Industry Analysis Report, By Component; By Material; By Battery Type (Lithium-Ion, Lead-acid, Graphene, Nickle-Cadmium); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The electrode segment is projected to be the fastest-growing segment registering the highest growth during the forecast period. The growth is credited to the increase in demand for electrodes in lithium-ion batteries to enhance the performance and safety of the batteries.
Asia-Pacific is estimated to be the fastest-growing region for the market. The region’s significant growth rate is due to substantial economic expansion and thriving electronics and electric vehicle sectors in Asia Pacific countries, such as China, Japan, and South Korea.
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Leading players in the market are Arkema SA, APV Engineered Coatings, Axalta Coating Systems Ltd, Dürr Group, Asahi Kasei Corporation, Nano One Materials Corp, Nexeon Limited, UBE Industries Limited, PPG Industries, SK Innovation Co., Ltd., Tanaka Chemical Corporation, Solvay SA, Targray Technology International Inc, Mitsubishi Paper Mills Ltd, and Unifrax.
The high adoption of electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles is driving the demand for electronics and smart devices, thus boosting the growth of the industry. The increased demand for high-capacity batteries is expected to spur technological improvements in materials.
Battery Coating Market Report Highlights
- The graphene segment is expected to grow considerably in the industry over the forecast period. The growth is driven by the increase in demand for various end-use industries like consumer electronics, automotive, industrial, and power. Graphene is suitable for high-capacity energy storage while offering high conductivity with less carbon than conventional batteries.
- The PVDF by material type is predicted to be the fastest-growing segment of the market. PVDF plays a significant role in powering batteries, mainly lithium-ion batteries used in electric vehicles. This increase in PVDF use in coatings is driving the industry.
- The Asia Pacific region is expected to register the highest revenue in the industry. An increase in the demand for new energy storage applications in vehicles and grid-connected energy storage facilities and increased need for consumer gadgets are factors expected to contribute to the rise in demand for sustainable batteries, thus driving the growth of the industry. The presence of major lithium-ion users such as Samsung, Panasonic, and Sony in the region is driving the demand for the industry.
Polaris Market Research has segmented the battery coating market report based on component, material type, battery type, and region:
Battery Coatings, Component Outlook (Revenue – USD Million, 2018 – 2030)
- Battery Pack
Battery Coatings, Material Type Outlook (Revenue – USD Million, 2018 – 2030)
- PVDF (Polyvinylidene Fluoride)
Battery Coatings, Battery Type Outlook (Revenue – USD Million, 2018 – 2030)
Battery Coatings, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa