Global Sales of Lithium Ion Battery Separator Market Will Surge At 7.2% CAGR and Reach US$ 3,256.7 Million by 2032 | Report by Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Rising adoption of electric vehicles is anticipated to favor the expansion of the global lithium-ion battery separator market in coming years. The Asia-Pacific is expected to be the largest and fastest-growing Battery Separator Market during the forecast period
NEWARK, Del, March 16, 2023 (GLOBE NEWSWIRE) -- The global lithium ion battery separator market is expected to reach an evaluation of US$ 3,256.7 million, with sales growing at a healthy CAGR of 7.2% from 2022 to 2032. The target market was valued at US$ 1,624.9 million in 2022. The accelerated shift from fuel-based to zero-emission electric vehicles along with the rapid growth of automobiles, storage systems, and consumer electronics are responsible for the steady growth of the market during this observation period.
Battery cells with abnormal heat generation are separated by a lithium ion battery separator which shuts down the battery mechanism. These separators facilitate ion transport while preventing short circuits which increases battery reliability as it prevents physical contact between the anode and cathode. This aspect encourages higher demand for lithium ion battery separators.
Historically, the market for lithium ion battery separators recorded a moderate CAGR of 5.3% from 2016 to 2021. It is expected that the market will recover and grow at a restored growth rate of 7.2%. This market is heavily influenced by advancing battery technology. The advancement of battery technology has led to a sharp incline in the need for better separator designs. This is because battery technology relies heavily on separators to maintain efficiency and reliability which, in turn, invites greater research and development efforts in this field as the current separators do not meet standards. Hence, the lithium ion battery separator market is expected to undergo robust growth in the upcoming years.
The implementation of stringent government regulations regarding carbon emissions has resulted in a gradual shift from fuel-based to lithium-ion batteries for various industrial and automobile applications by manufacturers. Consequently, remunerative opportunities have opened up for the lithium ion battery separator market. Additionally, an upsurge in the consumption of smartphones, tablets, and electronic items also supplements the growth of the lithium-ion battery separator market. The introduction of electronic drivetrains and plug-in hybrid electric vehicles has led to the automobile sector focusing on the production of lithium ion battery separators. Though all of these factors invite growth for the market, it also faces certain restraints. Difficulty in transportation, availability of separators with poor resistance which results in the shutdown of batteries, and safety concerns are certain factors that will likely impede the growth of the lithium-ion battery market.
In 2022, the North American lithium ion battery separator market accounted for 25.4% of the global market share.
The lithium ion battery separator market in Europe accounted for 19.8% of the overall market share in 2022.
By material type, the polyethylene (PE) segment held about 37.26% of the global market share in 2022 and will continue similar growth during the assessment period.
Based on thickness, the 25μm segment will generate higher demand for the market.
Competitive Landscape
Asahi Kasei Group, Natrion, Gellec, SEMCORP, TEIJIN Limited, Entek International LLC, and Targray Technology International Inc., among others, are some of the key players in the lithium ion battery separator market profiled in the full version of the report.
In a competitive environment, leading market players are focusing on product development, innovation, and the launch of novel products. These companies also employ various expansion tactics to gain a competitive edge. For instance, in September 2022, the Mark Cuban-backed solid-state battery manufacturer launched the LISIC278 separator for traditional pouch cells.
Key Segments Profiled in the Global Lithium Ion Battery Separator Market
By Material:
Polypropylene Lithium Ion Battery Separator
Polyethylene Lithium Ion Battery Separator
Nylon Lithium Ion Battery Separator
Other Materials-based Lithium Ion Battery Separator
By Temperature:
10oC -25oC Lithium Ion Battery Separator
130oC-135oC Lithium Ion Battery Separator
By Thickness:
16µm Lithium Ion Battery Separator
20µm Lithium Ion Battery Separator
25µm Lithium Ion Battery Separator
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
More Insights into the Lithium Ion Battery Separator Market
In its latest report, FMI offers an unbiased analysis of the global lithium ion battery separator market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. This report presents a ten-year sales forecast and insights into market drivers, restraints, and opportunities. For a complete understanding of the global market potential, growth, and scope, the market is segmented on the basis of material, temperature, thickness, and region.
According to the reports, based on segmentation, the 25μm category will dominate the global marketplace. This segment will create greater demand for the market as this is the ideal thickness that is capable of transporting lithium ions while maintaining its mechanical attributes. In terms of material, the polyethylene segment will account for a significant portion of the market share. Based on region, the lithium ion battery separator market in North America will demonstrate impressive growth. In 2022, the target market in this region held about 25.4% of the global market share. The strong presence of leading battery manufacturers and battery separator organizations as well as the advancement of EV manufacturers in the US will drive the growth of the lithium ion battery separator market in North America. Europe, too, contributes to the global growth of the lithium ion battery separator market.
1. Executive Summary | Lithium Ion Battery Separator Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
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