Market Leaders - Battery Coating Market
The battery coating market is projected to grow from USD 329 million in 2022 to USD 658 million by 2027, at a CAGR of 14.9% from 2022 to 2027. The growth of the market is driven by the increasing demand for plug-in vehicles, smart devices, other consumer electronics, and rising demand for batteries in energy storage systems. The rising need for sustainable and high-performance batteries has led to innovations and technological advances in battery materials, providing opportunities for the further growth of the market.
Companies such as Arkema SA (France), Solvay SA (Belgium), Asahi Kasei Corporation (Japan), Ube Industries Ltd. (Japan), and PPG Industries, Inc. (US) fall under the winners’ category. These are leading players in the battery coating market, globally. These players have adopted the strategies of expansions, agreements, contracts, partnerships, acquisitions, and collaborations, to fulfill the rising demand for battery coating on the regional as well as global levels.
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In February 2022, Solvay SA invested USD 336 million to support fully integrated and digitalized PVDF operation which is expected to increase capacity at Solvays site in Tavaux, France.
In June 2021, Arkema SA announced a major innovation with the launch of its new sustainable Kynar PVDF range. These new grades are expected to be 100% renewable which is attributed to the carbon derived from crude tall oil bio-feedstock, according to a mass balance approach.
In December 2021, PPG Industries, Inc. announced an investment worth USD 2.7 million to expand its powder coatings manufacturing capabilities at its facility in Sumaré, in the Brazilian state of São Paulo. The project is expected to increase the plant’s production capacity for powder coatings by approximately 40%, beginning the third quarter of 2022.
In June 2020, NEI Corporation introduced three new products, further expanding its product line of Battery Electrode Sheets. The new materials cater the rising need in the industry for high performance cathode and anode electrodes for lithium and lithium-ion batteries. The three new products are NANOMYTE BE-70E, NANOMYTE BE-150E, and NANOMYTE BE- 400E.
Related Reports:
Battery Coating Market by Battery Component (Electrode Coating, Separator Coating, Battery Pack Coating), Material Type (PVDF, Ceramic, Alumina, Oxide, Carbon), and Region (Asia Pacific, North America, Europe, ROW) - Global Forecast to 2027
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