The battery separators market size is expected to reach US$ 9.5 billion by 2028 and registering at a CAGR of 9.0% between 2022 and 2028, according to a new research study conducted by The Insight Partners.
Growing Sales of Electric Vehicles Drive Battery Separators Market
Battery Separators Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Battery Type (Lithium-Ion Battery, Lead Acid Battery, Alkaline Battery, and Others), Material (Polypropylene, Polyethylene, Polyolefin, and Others), End-Use Industry (Automotive, Consumer Electronics, Industrial, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)
Battery Separators Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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A battery separator plays an important role in the performance and safety of batteries. The separator helps avoid contact between the anode and cathode of a battery and electrical short-circuiting. The battery separators find applications in many end-use industries, including automotive and consumer electronics. In recent years, several innovative developments have improved the wettability and high-temperature performance of battery separators.
Based on battery type, the battery separators market is segmented into lithium-ion battery, lead acid battery, alkaline battery, and others. In the coming years, the market for the lithium-ion battery segment is expected to grow at the highest rate due to the growing use of these batteries in electric vehicles. Lithium-ion batteries have a significantly high energy density and longer cycle life. In addition, they have a slow self-discharge rate and a wide range of operating temperatures. The lithium-ion batteries are used in laptops, mobile phones, cameras, and other applications.
Rising demand for smartphones, laptops, electrical devices, and other industrial applications creates a huge need for batteries, which drives the growth of the battery separators market. In addition, the sales of electric vehicles are rising worldwide. The electric vehicle has proven to be an essential technology in reducing air pollution. According to a report on 'The Global EV Outlook 2020' from International Energy Agency, the global stock of electric passenger cars continued to expand rapidly in 2019, reaching 7.2 million units, 40% higher than in 2018. The growing adoption of electric vehicles in various countries worldwide has increased the demand for rechargeable batteries. As a result, the production of lithium-ion batteries is surging, which is propelling the demand for battery separators. Over the past few years, separator makers, mostly from Japan, China, and South Korea, have steadily expanded their production capacities. For instance, in March 2021, Asahi Kasei announced that they will increase the production capacity for Hipore Li-ion battery (LIB) separator at their plant in Hyuga, Miyazaki, Japan. All such developments are bolstering the growth of the battery separators market.
TORAY INDUSTRIES, INC.; Asahi Kasei Corporation; ENTEK; Sumitomo Chemical; Dreamweaver International; Bernard Dumas; UBE Corporation; W-SCOPE CORPORATION; and SK Innovation Co., Ltd. are among the players operating in the global battery separators market. Market players are focusing on providing high-quality products to fulfill customer demand. Several other major companies were studied and analyzed during this research study to get a holistic view of the market and its ecosystem.
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