USD 4.5 billion
Report ID: SQMIG20D2164 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: 91 | Figures: 76
Battery Separators Market size was valued at USD 4.5 billion in 2021 and is poised to grow from USD 5.3 billion in 2022 to USD 16.2 billion by 2030, growing at a CAGR of 16.4% in the forecast period (2023-2030).
Consumer electronics devices are in high demand worldwide as a result of their widespread popularity. However, the main market for lithium-ion batteries is the consumer electronics industry. Additionally, sales of electric vehicles (EVs) have surged, and in recent years, they have emerged as the biggest consumers of lithium-ion batteries. Consequently, the market for battery separators will experience significant growth due to the spike in demand for consumer electronics and electric vehicles (EVs).
The market for battery separators has expanded significantly in recent years as a result of strict environmental laws. Rising population and industrialization, as well as increased demand for electric vehicles and other battery technological advancements, are driving the global demand for battery separators. Moreover, sales of electric vehicles (EVs) have surged in recent years, and they have emerged as the biggest consumers of lithium-ion batteries. Consequently, the market for battery separators will experience significant growth due to the spike in demand for consumer electronics and electric vehicles (EVs). The main difficulty is, however, the low heat resistance of separators.
US Battery Separators Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.5 billion
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The global battery separator market is segmented based on battery type, material, end use, and region. Based on the battery type, the battery separators market is segmented as lithium-ion, lead acid, and others. Based on material, it is segmented as polyethylene, polypropylene, ceramic, and nylon. Based on end-user, it is segmented as automotive, consumer electronics, industrial, and others. Based on region it is categorized into North America, Europe, Asia-Pacific, and MEA.
The lithium-ion battery segment is expected to grow due to increased production of lithium-ion batteries for EVs
Due to its high cost and possible application in EVs, the Li-ion battery separator market is projected to expand at a faster rate. In both hybrid and electric automobiles, Li-ion batteries are frequently utilised. Recent years have seen a dramatic increase in the manufacture of electric vehicles as a result of increasing government action to reduce reliance on fossil fuels. A multi-government initiative called the Electric Vehicles Initiative (EVI) aims to hasten the global uptake of electric vehicles. This will increase the market demand for lithium-ion batteries.
Compared to other rechargeable batteries, they often have better energy density, higher voltage capacity, a lower self-discharge rate, and very low concentrations of harmful heavy metals. A single cell offers a longer charge retention than other battery types, which improves power efficiency. Li-ion batteries are more stable and can be recharged numerous times.
Polyethylene battery separator to dominate the market during the forecast period
In terms of volume, polyethylene (PE) separators had a market share of more than 40% in 2021, and it is projected that they will grow at a CAGR of more than 17% by 2028. PE separators avoid short-circuit or thermal run-away situations by shutting down the battery if the core temperature exceeds 130 degrees Celsius. They are widely used across many industrial industries because they have good mechanical and chemical stability qualities. The separators are appropriate for consumer electrical applications since they also have other crucial characteristics.
Polypropylene is another major segment in the overall market and will account for over 25% of the market share in terms of revenue in 2028. In the consumer electronics and automotive industries, polypropylene is one of the most popular polyolefin battery separators. Polypropylene separators are widely used in Li-ion batteries for EVs. Thus, the market for battery separators is expected to develop as electric car usage and awareness rise. Polypropylene, one of the most versatile polymers on the market, can be used in a wide range of applications as both a plastic and a fibre.
The automotive industry will drive the Battery Separators Market
The automotive industry segment held a market share of over 45% in terms of revenue and will exhibit a CAGR of over 16.5% by 2027. The automotive industry's growing need for lithium-ion batteries and the widespread use of electronic vehicles are expected to lead to significant growth in the global market for battery separators. Additionally, it is projected that the market share for battery separators will grow as wet separators and microgrids become more widely used in the automotive sector.
In 2021, the consumer electronics market sector is expected to grow at a CAGR of more than 10.1%, with a market share of more than 2%. Consumer electronics devices such as refrigerators, washing machines, laptops, and tablets are in high demand worldwide as a result of their widespread popularity.
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Asia-Pacific is expected to be the dominant the global battery separators market due to the enormous demand for battery materials in emerging nations such as China and India. The need for battery separators in EV batteries is expected to rise as a result of governments in Europe beginning to provide subsidies for the production of electric vehicles. Recently, this area has developed into a centre for the manufacture of automobiles, creating new paths and chances for the OEM market.
The Electric Vehicles Initiative (EVI), a multi-government initiative in North America, aims to hasten the adoption of electric vehicles. The expansion of the automotive industry in Brazil and Mexico, which is predicted to cause an increase in sales of electric vehicles, is likely to boost the Latin American market. With rising investments in projects for smart, clean, and sustainable development, the Middle East and Africa market is projected to expand significantly in the upcoming years.
Europe is predicted to have profitable growth throughout the forecast period of 2022–2028 because of the region's high demand for consumer electronics and the existence of strict laws. These factors have encouraged the use of electric vehicles in the region.
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Battery Separators Market Driver
During the projected period, demand for separators will be driven by rising demand across a number of industries, including consumer electronics and automotive. Additionally, it is predicted that the market share for battery separators will increase due to the increased use of wet separators and micro grids in the automotive sector. Battery separator use will be fuelled by a rise in lithium-ion battery demand brought on by the growing popularity of electronic cars. Accordingly, the rising demand for EVs is a major factor promoting the expansion of the battery separator market. The manufacturers' encouragement to produce battery-powered vehicles due to increased consumer awareness of EVs and HEVs is increasing demand. The market for battery separators is also expanding as a result of the sharp rise in demand for highly effective batteries across a variety of end-use sectors. The growing demand to increase battery security and consistency without compromising performance or cost is another factor driving the market growth.
Automakers are investing billions of dollars in electric vehicles as a result of government incentives and laws that in various nations call for the phase-out of internal combustion engine automobiles. With the extra benefit of silent engines and no local emissions, electricity is seen as a competitive option to fuel oil in light of rising crude oil prices. Wireless electrical and electronic equipment, laptops, mobile phones, digital cameras, and other similar devices are frequently utilised. Batteries continue to be the go-to power source for devices such as mobile phones and portable consumer electronics devices. The sector is growing owing to improvements in battery technology and innovation, as well as the use of batteries in energy storage devices. Researchers are focusing their attention on batteries with solid-state electrolytes instead of lithium-ion batteries with liquid electrolytes. Significant improvements have been made recently in the realm of battery separators.
Battery Separators Market Challenge
One of the main factors limiting the growth of the battery separator market is the gap between supply and demand in the sector. This is particularly true with regard to raw materials and transportation concerns. Moreover, manufacturers must consistently maintain the high quality of the materials used to make battery separators. The low heat resistance of the separators makes them particularly challenging to maintain. These elements are viewed as significant roadblocks to the market expansion for battery separators.
Since batteries are made of chemicals, when they corrode, they taint groundwater and may start fires in landfills, which is a very dangerous situation. Due to this, issues with battery safety and incorrect disposal may have an adverse effect on the environment, which could eventually cause global warming. This aspect presents significant obstacles to the market for battery separator growth. Also, larger battery separators are not economically viable. Another significant barrier to the overall growth of the battery separator sector is the effectiveness of batteries and their capacity to store energy.
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Some of the key players are Ahlstrom-Munksjö, Amer-Sil, Asahi Kasei, B&F Technology, Bernard Dumas, Cangzhou Mingzhu Plastic, Cyg Chinaly New Material, Dowdupont, Dreamweaver International, Eaton, Electrovaya, Entek International, Foshan Jinhui Hi-Tech.
Battery Separators Market Top Players Company Profiles
Battery Separators Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, recent years have seen a dramatic increase in the manufacture of electric vehicles as a result of increasing government action to reduce reliance on fossil fuels. China and Japan are two examples of Asia-Pacific nations that have developed into electronic vehicle manufacturing centres. In these nations, the demand for battery separators is expected to rise exponentially. Also, as energy storage devices become more commonplace and the electronics sector continues to innovate, product demand will continue to increase over the duration of the forecasted period. However, the development of the battery separator market is expected to be hampered by strict rules on the use of polymeric materials and safety concerns connected to the use of batteries in various applications.
|Market size value in 2021
|USD 4.5 billion
|Market size value in 2030
|USD 16.2 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Battery Separators Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Battery Separators Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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