The market size of tab leads and tab seal film is projected to grow from USD 318 million in 2022 to USD 600 million by 2027, at a CAGR of 13.6% during the forecast period, owing to a significant increase in electric vehicles and consumer electronics in various regions such as North America, Asia Pacific, and Europe.
Sumitomo Electric Industries (Japan), MISUZU Holding (China), SAMA (South Korea), and Yujin Technology (South Korea) are some of the key players operating in the tab leads & tab seal film market. These players have adopted strategies such as joint ventures and expansions, to enhance their business `revenue and market share. Expansion of manufacturing plants globally is one of the key strategies adopted by some players to cater to the increasing demand for tab leads & tab seal film.
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Toray Battery Separator Film Korea is one of the players in the global tab leads & tab seal film market. The company is a subsidiary of Toray Industries Inc., which offers battery separator film under the brand name of Setela. In October 2021, Toray established battery separator film joint venture with LG Chem in Hungary. Under this partnership, LG Chem invested around USD 375 million. The new joint venture planned to manufacture battery separator film for car lithium-ion batteries for LG Group in Europe and the US, using existing THU facilities.
Another important player in the global tab leads & tab seal film market is T&T Enertechno Co., Ltd. which was established through a business tie-up between Toppan Printing Co., Ltd. and Toyo Seikan Co., Ltd., as a company specializing in manufacturing and selling lithium-ion battery packaging materials. T&T Enertechno Co., Ltd. offers all types of lithium-ion battery packaging materials and related products, including soft packaging (aluminum laminated film), hard packaging (metal can), and tab sealant. The company also offers battery inspection services. Toppan Inc. has its various research facilities at the Research Institute in Saitama, Japan, which facilitates T&T Enertechnos R&D. The company has a regional presence in Asia Pacific.
Tab Leads and Tab Seal Film Market by Material (Aluminum, Copper, Nickel, Polyamide, End User (Consumer Electronics, Electric Vehicles, Military, Industrial) and Region (North America, Europe, APAC, Rest of World) - Global Forecast to 2027
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