Lithium-Ion Battery Separator Market Size to Grow USD 6683.3 Million by 2029 at a CAGR of 9.5% | Valuates Reports
BANGALORE, India, Nov. 10, 2023 /PRNewswire/ -- Lithium-Ion Battery Separator Market is Segmented by Type (Wet Process, Dry Process), by Application (Consumer Electronics, Vehicles, Power Storage): Global Opportunity Analysis and Industry Forecast, 2022-2029.
The Lithium-Ion Battery Separator Market is projected to reach USD 6683.3 Million in 2029, increasing from USD 2904 Million in 2022, with a CAGR of 9.5% during the period of 2023 to 2029.
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Major Factors Driving the Growth of Lithium-ion Battery Separator Market:
The market for lithium-ion battery separators is expected to increase significantly due to factors such as technological improvements, the popularity of electric cars, the renewable energy sector, industrial applications, and the consumer electronics industry. The market is also growing as a result of government incentives, electric powertrains, sustainability, and continuous research and development. With more and more people using lithium-ion batteries for a variety of purposes, the separator industry will only grow and change.
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TRENDS INFLUENCING THE GROWTH OF LITHIUM-ION BATTERY SEPARATOR MARKET:
One important factor is the worldwide trend towards electrification. The market for lithium-ion batteries is growing as more people choose electric vehicles. This trend is anticipated to continue as consumers and governments place a higher priority on sustainability, necessitating an unprecedented need for high-performance separators. Furthermore, the industry is being driven by the renewable energy sector. Lithium-ion battery energy storage devices are necessary for stabilising renewable energy sources such as solar and wind power. The need for dependable and effective battery separators is increasing along with the number of renewable energy installations.
The growing usage of lithium-ion batteries in a variety of industrial applications, including medical equipment, grid stabilisation, and data centre energy storage, is another important factor. Advanced separators with long-lasting performance and the ability to tolerate high temperatures are needed for these applications. The market for lithium-ion battery separators is being further driven by the expanding consumer electronics industry. High-quality separators are in greater demand as a result of the continuous evolution of smartphones, laptops, and other electronic devices, which call for batteries with improved performance and safety features.
The expansion of the market is mostly being driven by technological developments in lithium-ion battery separators. Battery performance in terms of energy density, thermal stability, and cycle life is being improved by the development of novel separator materials, such as ceramic or solid-state materials. For consumer electronics and EVs, these advancements are essential. In addition, there is a notable surge in the electric powertrain sector. The market for separators will rise as the need for lithium-ion batteries rises due to the growing popularity of electric vehicles such as automobiles, buses, and even airplanes. Eco-friendly separating materials are becoming more and more necessary due to sustainability and environmental concerns. In keeping with the global environmental goal, manufacturers are concentrating on creating separators that are recyclable and biodegradable.
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LITHIUM-ION BATTERY SEPARATOR MARKET SHARE ANALYSIS:
Important companies in the world of lithium-ion battery separators include Asahi Kasei, Toray, SK Innovation, UBE, Senior Tech, and others. About 60% of the market is held by the top 4 global producers.
With a market share of around 45%, China leads the pack, followed by South Korea and Japan, all of which have market shares of more than 40%.
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Key Companies:
- Asahi Kasei
- SK Innovation
- Toray
- Celgard LLC
- UBE
- Sumitomo Chem
- Entek
- Evonik
- MPI
- W-SCOPE
- Senior Tech
- Jinhui Hi-Tech
- Zhongke Sci & Tech
- Cangzhou Mingzhu
- Suzhou GreenPower
- Yiteng New Energy
- Tianfeng Material
- DG Membrane Tech
- Newmi-Tech
- FSDH
- Hongtu LIBS Tech
- Shanghai Energy
- Gellec
- Zhenghua Separator
- Huiqiang New Energy
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