Battery Separators Market to be worth 5.13 Billion US$ by 2022
According to a recent report by MarketsandMarkets, the global battery separator market is projected to reach US$ 5.13 Billion by 2022.The global battery separator market is estimated to grow from US$ 2.85 Billion in 2017 to US$ 5.13 Billion by 2022, at a CAGR of 12.5% from 2017 to 2022. The market growth can be attributed to the rising demand for electric vehicles coupled with the various developments done to improvise the effectiveness of batteries.
Based on type, lithium-ion segment is projected to lead battery separator market during forecast period
The battery separator market, by type has been divided into lithium-ion, lead acid, and others. They are used in different end-use applications such as automotive, industrial, consumer electronics, power storage systems, and forklifts, among others. The lead acid battery separator segment dominates the overall battery separators market, in terms of value. However, the lithium-ion segment is expected to experience a higher growth rate during the study period. Considerable growth in the adoption of electric vehicles and rechargeable batteries is one of the major factors driving the demand for Li-ion battery separators. This is leading to an increasing consumption and production of Li-Ion battery separators.
Based on end-use industry, automotive segment is anticipated to grow at highest CAGR during forecast period
Battery separators are used for various applications such as consumer electronics, automotive applications, mining and construction equipment, power storage, marine equipment, etc. Based on end-use industry, the automotive segment is expected to grow at the highest CAGR during the forecast period. As the demand for more sustainable transportation is increasing across the world, EVs are being commercialised and adopted on a larger scale. Owing to environmental concerns and awareness about clean and sustainable fuel, there is a rise in the demand for such vehicles. Hence, the increasing adoption and awareness of electrical vehicles supports the growth of the battery separator market.
Based on material, polypropylene segment is anticipated to grow at highest CAGR during forecast period
Battery separators are adopted to increase the efficiency of the batteries that are used in automotive, industrial, and electronics sectors. Huge investments are made in R&D for batteries and battery separators to make them more compatible with the devices. Polypropylene is one of the most versatile polymers available and can be used as both, fiber and plastic, in various applications. Polypropylene separators are widely used in Li-ion batteries for EVs. The growing automotive and consumer electronics industries are boosting the demand for these separators globally.
Asia Pacific is expected to be fastest-growing market for battery separators
Asia Pacific is estimated to be the fastest-growing market for battery separators. China is estimated to be the fastest-growing market for battery separators in the Asia Pacific region. In recent years, this region has emerged as a hub for automobile production. Recent infrastructure developments and industrialisation activities in emerging nations have opened new avenues, opportunities, and markets for OEMs. The demand for battery materials in the Asia Pacific region is majorly driven by China. The country’s hefty investments in automotive applications, construction, and infrastructure is the key driving factor for battery separators’ domestic demand.
Major players in the global battery separator market are Toray Industry (Japan), Asahi Kasei (Japan), SK Innovation (South Korea), Freudenberg (Germany), Entek International (US), W-Scope Industries (Japan), Ube Industries (Japan), Sumitomo Chemical (Japan), Dreamweaver International (US), and Bernard Dumas (France).