PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1587951
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1587951
The value of the battery coating market is anticipated to surge from 604.7 million USD in 2024 to 1,613.6 million USD at a CAGR of 17.8% from 2024 to 2030. The growing electric vehicle market is a major driver of the battery coating market. Battery coating is commonly employed in electrodes (cathode and anode), separators, housing packs, and other areas of the battery to improve performance and reduce heat gain and losses caused by instability of operating temperatures.
Scope of the Report | |
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Years Considered for the Study | 2019-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Billion and USD Million), and Volume (Kiloton) |
Segments | Battery Component, Material Type, Technology, Battery Type and Region |
Regions covered | Asia Pacific, North America, Europe, and Rest of the World |
"By battery component, the electrode coating segment is estimated to be the largest segment of the battery coating market from 2024 to 2030."
Electrode coatings dominate the battery component market due to their direct impact on lifespan, performance, and efficiency. Coatings on both cathodes and anodes improve critical properties such as electrical conductivity, thermal stability, and resistance to degradation during charging and discharging cycles.
In the case of a cathode, it enhances electrochemical cathode performance by improving conductivity and protection against oxidation. Coating of the anode, typically made of graphite or silicon, helps reduce lithium-ion loss, increases the anode's mechanical strength, and enhances charge/discharge efficiency. Such coatings cause these lower-side reactions and prevent the degradation of the anode material, increasing battery life and the speed that the charge time should be.
"By battery type, graphene battery is estimated to be the largest segment of the battery coating market from 2024 to 2030 by CAGR."
Graphene-type batteries have the greatest CAGR by battery type segment due to several key benefits, including high energy density, where graphene's enormous surface area and conductivity allow for compact energy storage, resulting in greater ranges and quicker charging times. Additionally, its ability to conduct electrons quickly facilitates ultra-fast charging which is essential for electric vehicles and portable devices. Graphene-based materials endure more charge-discharge cycles with minimal degradation, extending battery lifespan. Moreover, graphene's thermal stability and resistance to electrolyte leakage enhance battery safety, reducing the risks of fires or explosions. These benefits make graphene batteries particularly attractive for various applications, including electric vehicles and consumer electronics. While mass production and cost challenges remain, ongoing advancements in graphene technology suggest a promising future for this innovative energy storage solution.
"From 2024 to 2030, by material, PVDF is expected to be the largest by material segment in the battery coating market."
Based on the material segment, Polyvinylidene fluoride (PVDF) is expected to hold the highest CAGR in the battery coating market. PVDF has excellent chemical resistance, high thermal stability, and mechanical strength, enhancing battery performance and lifespan. It is compatible with different electrolytes and improves the transport of ions; hence, it is vital in high-performance batteries, especially in electric vehicles and energy storage systems. Arkema SA (France) and Solvay SA (Belgium) are the primary polyvinylidene fluoride battery coating materials providers.
"The Asia Pacific region's battery coating market is projected to have the highest share in 2024."
Asia Pacific will contribute the highest share of the market in 2023. The reason is the presence of various giants in electric automotive across the region. China is also considered a global supply chain hub for the battery storage industry. Government initiatives in electric vehicles with subsidies, comprehensive charging infrastructure, and supporting license policies follow the APAC region's market, particularly China. The increasing necessity for bettering the efficiencies of batteries for manufacturers to keep pace with regulatory matters and consumer calls is actually what gives this market's growth an opportunity for many further advancements in this region's technology of battery coatings.
The Battery coating report is dominated by players such as
Arkema (France), Solvay (Belgium), Asahi Kasei Corporation (Japan), Ube Corporation (Japan), PPG Industries, Inc. (US) Mitsubishi Paper Mills, Ltd. (Japan), Tanaka Chemical Corporation (Japan), SK Innovation Co. Ltd. (South Korea), Ashland (US), Axalta Coating Systems, LLC (US), Targray (Canada), Samco Inc. (Japan) Durr Group (Germany), APV Engineered Coatings (US), and Alkegen (US) and others.
The report defines, segments, and projects the battery coating market size based on components, materials, technology, battery type, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as expansions, agreements, and acquisitions undertaken by them in the market.
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the battery coating market and its segments. This report is also expected to help stakeholder businesses and the market's competitive landscape better, gain insights to improve the position of their companies, and make suitable go-to-market strategies. It also enables stakeholders to understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Analysis of key drivers (High production of EVs, HEVs, and PHEVs and Rising demand for smart devices and other consumer electronics), restraints (High cost of technology, Safety and environmental concerns due to the use of hazardous metals), opportunities (Innovations and technological advances in battery materials Lithium-ion batteries in energy storage devices), and challenges (Expected utilization of solid electrolytes) influencing the growth of the battery coating market.
The battery coating market is across varied regions.
geographies, recent developments, and investments in the battery coating market.
offerings of leading players Arkema (France), Solvay (Belgium), Asahi Kasei Corporation (Japan), Ube Corporation (Japan), PPG Industries, Inc. (US) Mitsubishi Paper Mills, Ltd. (Japan), Tanaka Chemical Corporation (Japan), SK Innovation Co. Ltd. (South Korea), Ashland (US), Axalta Coating Systems, LLC (US), Targray (Canada), Samco Inc. (Japan) Durr Group (Germany), APV Engineered Coatings (US), and Alkegen (US) are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels.
A. FOREIGN DIRECT INVESTMENT (USD BILLION DOLLARS)