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The lithium-ion battery (LIB) separator market size is estimated to grow at a CAGR of 10.91% from 2022 to 2027. The market size is forecast to increase by USD 2,526.16 million. The growth of the market depends on several factors including the rising demand for smart devices, the shift in the automotive industry toward EVs and the drawbacks of lead-acid batteries.
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Declining prices of lithium-ion batteries is an emerging trend supporting market growth. Lithium-ion batteries contribute to a significant portion of the overall vehicle and equipment cost. Lithium-ion batteries are comparatively more costly than lead-acid batteries or NiMH batteries.
In the automotive segment, lithium-ion batteries account for a major portion of the overall cost of devices that are used. Moreover, the manufacturing cost of lithium-ion batteries is declining significantly and in the past years the cost of battery packs has fallen as the scale of production has increased tremendously contributed to the LIB separator market growth. This can be attributed to the increased adoption by the automotive industry and the development of cost-effective production methods by vendors. The prices are anticipated to decline further in the forthcoming years as the production capacity is rising every year. These cost declines, associated with government support, will expand the sales of lithium-ion-powered vehicles, which, in turn, will fuel the growth of the global lithium-ion battery separator market during the forecast period.
The automotive segment is estimated to witness significant growth during the forecast period. Because of their advantages over other battery technologies, Llthium-ion batteries are majorly used in EVs and other battery-powered vehicles. These batteries have a high energy density, relative performance, and long-life cycle, which make the battery technology more lucrative compared with other batteries.
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The high costs of EVs compared with conventional vehicles is due to lithium-ion batteries. Moreover, due to high production volumes and ongoing R and D activities to increase reliability, the prices of lithium-ion batteries are declining. As a result, the adoption of EVs.Lead-acid batteries have been primarily used in the automotive industry. Nevertheless, because of their excellent performance, these are being gradually replaced by lithium-ion batteries. Such factors are significantly contributing to the lithium-ion battery (LIB) separator market growth. Further, the automotive industry is witnessing a shift from dry separators to wet separators, which will further address the security concerns associated with lithium-ion batteries. The automotive application segment experiences rising competition from fuel cells as a replacement for lithium-ion batteries. In addition, separator inefficiencies hinder market growth as the separator is one of the essential components of lithium-ion batteries.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is the primary manufacturing hub for both EVs and consumer electronics. In South Asian countries, some of the world's biggest automotive producers are concentrated. The adoption of electric vehicles has an important influence on the lithium-ion battery market for car applications. Hence, such factors can positively impact the lithium-ion battery separator market in the region. Collective efforts are being made by governments in a number of APAC countries and the automotive industry to shift their focus from cars to electric vehicles. Growing concerns about the environment and a need to lower dependence on fossil fuel vehicles are the major reason behind this change. The market is introducing multiple reforms and is observing an increasing inclination toward R and D to improve the available technologies to promote EV sales. For instance, the Made in China 2025 policy of China aims to shift the country's manufacturing sectors, such as robotics, aerospace, and EVs, to higher value-added sectors with the adoption of industrial upgrading strategies. These factors will fuel the growth of the lithium-ion battery separator market in this region during the forecast period.
The COVID-19 outbreak and the strict actions enforced in China led to widespread economic disruptions in 2020, which delivered a hard impact on economic growth in APAC. The rigid lockdowns and stay-at-home measures resulted in a drop in EV sales and a substantial decline in the demand for lithium-ion batteries due to regulations on public and private transport. This hindered the growth of the lithium-ion battery separator market in APAC. Nevertheless, with the easiness in lockdowns and the resumption of operations in lithium-ion battery separator manufacturing units in Q4 of 2020, following the initiation of large-scale COVID-19 vaccination drives, there was a gradual market recovery. Countries such as India and China resorted to infrastructure development as an economic stimulus method. However, the pandemic had a marginal influence on EV charging infrastructure. The rapid adoption of EV charging infrastructure in major countries in APAC, such as China, India, and Japan, led to an increase in the sales of EVs which, in turn, led to an increase in the growth of the lithium-ion battery separator market in APAC in 2021, which is anticipated to persist during the forecast period.
Rising demand for smart devices is the major factor notably driving the market growth. The steadily growing demand for smart devices with technological advances such as enhanced user interfaces, new characteristic additions, and enhanced network connectivity. These new features have led to the innovation of numerous smart devices such as smartphones, smart wearables, and tablets.
Factors such as affordability, digital literacy, and content relevance are propelling the demand for such devices. Moreover, the factors such as an increase in internet penetration, disposable income, and the purchasing power of the consumer support the steady growth of smart devices. Due to the entry of Chinese manufacturers into emerging markets across the world, smartphones and other devices are available at cheaper prices. In addition, rising health awareness among consumers has boosted the adoption of smart wearable devices. Furthermore, smart devices use lithium-ion batteries as the power source owing to their high energy density and low discharge rate. Due to their compactness and performance, Lithium-ion batteries have become the primary choice for powering smart devices. The demand for lithium-ion batteries will rise with the continuous growth of the consumer electronics market. This will drive the global lithium-ion battery separator market during the forecast period.
Safety concerns due to the inefficiency of separators are the major challenge that may impede market growth. These batteries are generally operated in all types of electronic devices and automotive owing to their high energy density and superior electrochemical performance over traditional batteries.
Also, it offers better environmental compatibility, intrinsic stability, and capacity. The three important functional components of lithium-ion batteries are the cathode, anode, and electrolyte. The separators play an extremely important role, as it mediates the flow of lithium ions between the electrodes through their pores during the process of charging and discharging. Moreover, the separators do not take part in the cell reactions, but their physical properties determine the performance of the batteries. Incidents such as cell reactions have a very low chance of happening; however, they can turn out to be fatal in certain situations. Thus, separator inefficiency is one of the significant safety concerns for lithium-ion batteries and, therefore, requires utmost precision. This is expected to hinder the growth of the global lithium-ion battery separator market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Lithium-Ion Battery (LIB) Separator Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asahi Kasei Corp. - The company offers lithium-ion battery separators such as Celgard dry-process lithium-ion battery separators.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The lithium-ion battery (lib) separator market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Lithium-Ion Battery (LIB) Separator Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.91% |
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Market growth 2023-2027 |
USD 2526.16 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
9.91 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 50% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Asahi Kasei Corp., BenQ Materials Corp., Coperion GmbH, Entek International LLC, LG Chem Ltd., Mitsubishi Paper Mills Ltd., MOD PLAST INDUSTRIES, Semcorp., SK Innovation Co. Ltd., Solvay SA, Sumitomo Chemical Co. Ltd., Targray Technology International Inc., TDK Corp., Teijin Ltd., Thermo Fisher Scientific Inc., Toray Industries Inc., Ube Corp., W-SCOPE Corp., Xiamen Lith Machine Ltd., and Yasui Seiki Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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