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Elastic Battery Binders Market Outlook 2031
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Overview of Global Elastic Battery Binders Market
Polymer binder materials are key components of electrochemical energy storage devices. The demand for high-energy density devices is increasing across the globe. Therefore, innovative new polymer binder materials that build on the fundamental understanding of physical phenomena and structure–property relationships would be required to enable high-capacity next-generation battery chemistries. For instance, lithium-ion batteries have become one of the key choices for energy supply in portable electronic products. However, new high-performance anodes are needed to replace conventional carbon-based anodes considering the increase in energy output. Silicon anode is regarded as a promising candidate due to its high theoretical capacity. However, silicon anode suffers drastic capacity loss and short cycle life due to volumetric change accompanied by the lithiation/delithiation process. Elastic binders have a significant impact on the electrochemical performance of silicon-based anodes that lithiate with vast volume expansion.
Elastic battery binders are used in various end-use segments such as automotive and transportation, consumer electronics, energy storage system, aerospace and defense, and industrial.
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High Demand for Electric Vehicles to Propel Global Elastic Battery Binders Market
The global market for electric vehicles is expected to more than double in the next two years; more than 25 million electric cars are projected to be on the road during this period. These electric cars are anticipated to account for 25% of all new cars purchased. However, one of the primary elements propelling the popularity of electric automobiles is the performance of lithium-ion batteries used to power them.
Lithium-ion battery manufacturers are exploring new anode and cathode materials; and modifying electrolytes that transfer the charge between them. Polymer binders that hold these lithium-ion battery components together have undergone promising improvements. New highly elastic binders are poised to improve the lifetime and capacity of lithium-ion batteries. Therefore, elastic battery binders help stabilize silicon-based anode particles of lithium-ion batteries. Thus, increase in demand for electric vehicles is expected to boost the elastic battery binders market in the near future.
Increase in Battery Demand in Energy Storage Systems to Drive Global Elastic Battery Binders Market
The grid-level energy storage system plays an important role in balancing power generation and utilization in the electrical energy transformation process. Batteries hold considerable potential for applications in grid-level energy storage systems due to their rapid response, modularization, and flexible installation. Among several battery technologies, lithium-ion batteries (LIBs) exhibit high energy efficiency, long cycle life, and relatively high energy density.
Prices of lithium-ion batteries are rising steeply. Furthermore, environmental harm is higher when the battery achieves its end-of-life cycle. Therefore, a new approach has been developed to improve the charge capacity of lithium-ion batteries. This new approach entails a move from graphite-based anodes to ones made with silicon. Silicon possesses a higher density of energy per unit of material. However, silicon particles in the anode change size during discharge and charge, thus lowering battery capacity over time. Highly elastic battery binders demonstrate a rigidness/softness coupling mechanism to alleviate the adverse mechanical impact, which can accommodate volume expansion of the silicon anode upon lithiation in lithium-ion batteries.
Moreover, sodium-ion batteries offer better performance and can operate at a wider temperature range. Antimony is a potential anode material for sodium-ion batteries, despite its volume expanding significantly during the alloying reaction with sodium (SIBs). Therefore, elastic battery binders were developed for antimony in SIB cells to ensure bifunctionality and improve mechanical toughness in order to prevent significant volume changes and the number of sodium ions transferred.
Thus, the demand for elastic battery binders is expected to rise, owing to the growth in usage of lithium-ion and sodium-ion batteries in energy storage systems.
Use of Polytetrafluoroethylene (PTFE) to Dominate Global Elastic Battery Binders Market
Based on type, the global elastic battery binders market has been segmented into polyurethane (PU), poly (siloxane imide) (PSI), polyrotaxene, Styrene Butadiene Rubber (SBR), epoxy resin, polytetrafluoroethylene (PTFE), pullulan, and others. The polytetrafluoroethylene (PTFE) segment held key share of 39.2% of the global elastic battery binders market in 2021. PTFE is applied as emulsion in water, and is used either directly or in its sulfonated ionomer form. The suspension copolymerization of polytetrafluoroethylene and polyvinylidene fluoride produces highly elastic battery binder with large breaking elongations and high viscosity as well as high ionic conductivity and thermal stability. Polytetrafluoroethylene can be used in specific binder applications for cells and supercapacitors.
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Analysis of Key Players in Global Elastic Battery Binders Market
Leading producers of elastic battery binders across the globe include Gelon LIB Group, Fairmont Industries, BASF, The Lubrizol Corporation, and Arkema. The market was highly competitive in 2021, owing to the presence of various small- and medium-scale manufacturers. Asia Pacific is the major region of the global elastic battery binders market due to the presence of many small manufacturers. China and India are the key exporters of elastic battery binders across the globe. Most of the manufacturers of elastic battery binders have integrated operations to save upon production and operation costs, and thus increase their revenue.
Each of these players has been profiled in the elastic battery binders market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
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