CHICAGO, March 13, 2020 /PRNewswire/ -- According to the new market research report "Battery Coating Market by Battery Component (Electrode Coating, Separator Coating, Battery Pack Coating), Material Type (PVDF, Ceramic, Alumina, Oxide, Carbon, Others), and Region (Asia Pacific, North America, Europe, Row) - Global Forecast to 2025", published by MarketsandMarkets™, the Battery Coating Market is projected to grow from USD 169 million in 2020 to USD 301 million by 2025, at a CAGR of 12.2% from 2020 to 2025. The market growth is driven by the high production of EVs, HEVs, and PHEVs and the growing demand for smart devices and other consumer electronics.
The separator coating segment accounted for the largest market share in 2019
By battery component, the separator coating segment accounted for the largest share of the battery coating market in 2019. Separator coating lowers the shrinkage of the separators in batteries, thus enhancing the battery life cycle. The rising demand from the lithium-ion battery end-use industry is expected to drive the market for separator coating during the forecast period.
The PVDF segment accounted for the largest market share in 2019
By material type, the PVDF segment accounted for the largest share of the battery coating market in 2019. PVDF (polyvinylidene fluoride) is a good organic coating choice for traditional polyolefin separators due to its special functional group structure. The growth of this segment is in-sync with the growth of the separator coating battery component segment of the battery coating market. Two of the key players in the battery coating market, Arkema SA (France) and Solvay SA (Belgium), are also the leading providers of PVDF for battery coating.
The Asia Pacific region accounted for the largest market share in 2019
Asia Pacific dominated the Battery Coating Market in 2019. Counties in this region, such as China, Japan, and South Korea, are home to major battery material manufacturers, cell fabricators, and battery manufacturers, which are the consumers of battery coatings. Battery coatings are majorly used in batteries manufactured for electric vehicles (EVs). The high production of EVs is, therefore, a major growth driver for the battery coating market in the Asia Pacific region.
APV Engineered Coatings (US), Arkema SA (France), Solvay SA (Belgium), Mitsubishi Paper Mills Ltd. (Japan), Ube Industries Ltd. (Japan), Tanaka Chemical Corporation (Japan), Asahi Kasei Corporation (Japan), SK innovation Co., Ltd. (South Korea), Unifrax (US), NEI Corporation (US), Targray Technology International Inc. (Canada), Alteo Group (France), Nano One Materials Corp. (Canada), SAMCO Inc. (Japan), Nexeon Limited (UK), ALD NanoSolutions, Inc. (US), Forge Nano Inc. (US), and Beneq Group (Finland) are some of the leading players in the battery coating market.
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