The market for lithium-ion battery (LIB) separator is expected to register a CAGR of more than 18.01%, during the forecast period. Major factors driving the market studied are the increasing adoption of lithium-ion batteries that significantly complements the growth of the lithium-ion battery separator market, as separators are an essential part of batteries. Adding to this, hassle-free government norms and declining prices of lithium-ion batteries, primarily due to improving economies of scale, are expected to drive the growth of the market studied. The increasing demand-supply mismatch of raw materials is likely to hinder the growth of the market studied.
– Electric vehicle (EV) manufacturers are emerging as a significant customer base for these batteries. The EVs primarily use lithium-ion batteries. The declining lithium-ion battery costs are impacting the cost of EV manufacturing. The EV industry is expected to witness a monumental growth. This, in turn, is expected to drive the lithium-ion battery separator market.
– Off-grid solar utilization gained immense popularity, as much as conventional solar power. The cost effectiveness of LIB battery storage systems emerged as an attractive proposition for the off-grid solar system consumers. Thus, it is providing a growth opportunity to the LIB battery component manufacturers, like the battery separator manufacturers.
– North America is one of the largest markets for lithium-ion battery separators, and is one of the largest consumers of batteries, owing to factors, such as increased electric vehicle deployment and spending on consumer electronics, along with significant improvement in consumer and manufacturing activities.
Get a PDF Sample for more detailed market insights: https://www.sdki.jp/sample-request-83816
Key Market Trends
Increasing Adoption of Electric Vehicles
– Electric vehicle (EV) manufacturers are increasingly becoming one of the most significant customer bases of battery. Several countries have announced plans to ban the sales of ICE vehicles in the future. Norway is expected to ban the sales of ICE vehicles by 2025, and France by 2040. India has plans to phase out ICE engines by 2030, while China’s similar plan is currently under relevant research phase.
– The EVs mainly use lithium-ion batteries. The decline in lithium-ion battery costs has resulted in a decline in the cost of EV manufacturing. The EVs are expected to reach price parity with gasoline-fired vehicles, by around 2025.
– With rising demand from the EV sector, the production of lithium-ion batteries is increasing rapidly. As a result of the growing EV-related lithium-ion battery industry, the lithium-ion battery separator market has witnessed a positive growth.
– One EV car consumes 6,000 times more separators than a cellphone battery. With the growing EV industry, particularly in the United States, Europe, and China, the leading driver for the lithium-ion battery separator market has shifted from the consumer electronics, like laptops and cell phones, to electric vehicles.
– During the forecast period, the EV industry is expected to continue to witness high growth, which, in turn, is expected to drive the lithium-ion battery separator market during the forecast period.
Lithium-Ion Battery Separator Market Size Research Consumption, Companies , Industry Report Analysis and Forecast 2022-2031
West Africa Refined Petroleum Products Market Size Key Insights Based on Product Type, End-use and Forecast 2022-2031
Wind Power Market Size Growth Analysis By Share, News, Demand, Opportunity Forecast 2022-2031
Latin America Oil & Gas Drone Services Market Size Key Facts, Dynamics, Segments and Forecast Predictions Presented 2022-2031
Sodium Sulfur Battery Market Size Opportunities, Share, Emerging Trends, Technological Innovation And Forecast 2022-2031