Battery Coating Market

Battery coating market size (2023-2028):

The battery coating market is predicted to rise from USD 172.4 million in 2022 to USD 318.6 million by 2028, at a CAGR of 18.2% from 2023 to 2028.

Battery coating, in general, is a thin film layer that can be used to improve the electrochemical capability of cathodes and anodes in a battery. It increases durability, decreases the degradation mechanism, and improves the safety and working efficiency of the battery. Battery coating helps deliver escalated voltages without negatively impacting the battery life. They escalate the energy storage capacity and yield better overall battery performance at lower manufacturing costs. The production of heat and gases is decreased throughout the charging and discharging period. Battery coatings increase stability and escalate the energy volume by around 15% to 25%, while still working at room temperature. The call for battery coatings is likely to escalate marginally in energy storage applications in automobile and renewable energy sectors in order to lower the usage of fossil fuels, which primarily contribute to pollution

Recent Advancements in the Battery Coating Industry:

• Volkswagen is intending to attain proficiencies in battery cells to be able to manufacture and recycle them in-store. Volkswagen Group is going forward with its inclusive electrification plan - the new step was the introduction of battery cell advancement and pilot production at its Salzgitter location in Germany.

• Miltec UV has grown into so many latest markets domestically and internationally and has great plans to further develop new markets in 2018. The dedication to these industries in 2017 has rewarded the firm with three of its biggest sales in history, according to CEO, Marilyn Blandford. 

Battery Coating Market Drivers and Restraints:

The call for battery coatings has been escalating across the world owing to the high production of electric vehicles and the rise in the call for smart devices. Escalate in need of high-performance batteries is also predicted to provide technological advancements in battery materials. The industry expansion is driven by the high production of EVs, HEVs, and PHEVs and the growing call for smart devices and other consumer electronics. Technological advancement has resulted in an added benefit of utilizing the battery coating industry, which further assists in escalating the adoption rate among end-users.

However, high coating cost is predicted to restrain the global battery coatings industry. There is an escalation in the call for more sustainable batteries, mainly in EVs, smart equipment, and energy storage systems. This call will, in return, drive the expansion of the electrode coating segment of the battery coating industry. Technological advancement has led to added advantages of using the Battery Coating Industry which further helps in escalating the adoption rate among end-users. The industry is predicted to experience expansion in Europe in the future, owing to economic expansion and escalating availability of battery material makers, cell fabricators, and battery makers in the area.

BATTERY COATING MARKET REPORT COVERAGE:

Battery Coating Market Segmentation

Battery Coating Market - By Battery Component

• Electrode Coating

• Separator Coating

• Battery Pack Coating

On the basis of the battery component, the separator coating sector accounted for the most substantial share of the battery coating industry in 2019. Separator coating lessens the shrinkage of the separators in batteries hence improving the battery life period. The increasing call from the lithium-ion battery end-user business is predicted to drive the industry for separator coating over the envisioned period.

Battery Coating Market - By Material Type

• PVDF

• Ceramic

• Alumina

• Oxide

• Carbon

• Others

On the basis of material type, the PVDF sector accounted for the biggest share of the battery coating industry in 2019. PVDF (polyvinylidene fluoride) is an excellent organic coating select for conventional polyolefin separators owing to its great functional group structure. The expansion of this sector is in-sync with the expansion of the separator coating battery component sector of the battery coating industry. Two of the major players in the battery coating industry, Arkema SA (France) and Solvay SA (Belgium), are also dominating providers of PVDF for battery coating.

Battery Coating Market - By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Europe's battery coating market is predicted to dominate the worldwide industry during the foreseen period, as the area has a substantial base of renewable energy, along with electric vehicles. The increase in strict environmental regulations is predicted to boost the call for batteries in power storage applications. North America's battery coating market is predicted to hold a significant share of the worldwide industry due to a huge number of EV’s and smart equipment in the region. Asia Pacific battery coating market is predicted to be a highly attractive region over the estimated period. Escalate in advancements and investments in the renewable sector is likely to boost the call for batteries in energy storage systems. Countries in Asia Pacific like China, Japan, and India are shifting to electric vehicles in order to reduce pollution levels. The call for consumer electronics and smart devices has been escalating in these countries. This is predicted to boost the battery coatings industry in the Asia Pacific. The battery coatings industry in the Middle East & Africa and Latin America is predicted to expand at a healthy pace during the foreseen period, owing to the increasing investments in the renewable energy sector.

Battery Coating Market Key players:

1. APV Engineered Coatings (US)

2. Arkema SA (France)

3. Solvay SA (Belgium)

4. Mitsubishi Paper Mills Ltd. (Japan)

5. Ube Industries Ltd. (Japan)

6. Tanaka Chemical Corporation (Japan)

7. Asahi Kasei Corporation (Japan)

8. SK Innovation Co., Ltd. (South Korea

9. Unifrax (US)

10. NEI Corporation (US)

11. Targray Technology International Inc. (Canada)

12. Alteo Group (France)

13. Nano One Materials Corp. (Canada)

14. SAMCO Inc. (Japan)

15. Nexeon Limited (UK)

16. ALD NanoSolutions, Inc. (US)

17. Forge Nano Inc. (US)

18. Beneq Group (Finland)