Lithium-Ion Battery (LIB) Separator Market size to grow by USD 2.5262 billion from 2022 to 2027 | The rising demand for smart devices drives market growth - Technavio

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- The lithium-ion battery (LIB) separator market is estimated to grow at a CAGR of 10.91% from 2022 to 2027. The market size is forecast to increase by USD 2.5262 billion, according to Technavio Rising demand for smart devices is driving the market growth. Technological innovations such as improved interfaces, new features, and better connectivity drive the growing demand for smart devices. This has led to the innovation of various smart devices including wearables, tablets, and smartphones. Furthermore, these devices mainly rely on lithium-ion batteries due to their compactness, high energy density, and efficient performance. Hence, the rising demand for smart devices is expected to drive market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report 

Lithium-Ion Battery (LIB) Separator Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market companies also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Asahi Kasei Corp., BenQ Materials Corp., Coperion GmbH, Entek International LLC, LG Chem Ltd., Mitsubishi Paper Mills Ltd., MOD PLAST INDUSTRIES, Semcorp., SK Innovation Co. Ltd., Solvay SA, Sumitomo Chemical Co. Ltd., Targray Technology International Inc., TDK Corp., Teijin Ltd., Thermo Fisher Scientific Inc., Toray Industries Inc., Ube Corp., W-SCOPE Corp., Xiamen Lith Machine Ltd., and Yasui Seiki Co. Ltd. are among some of the major market participants.

Company Offering

• Asahi Kasei Corp. - The company offers lithium-ion battery separators such as Celgard dry-process lithium-ion battery separators.
• Coperion GmbH - The company offers lithium-ion battery separators such as Coperion battery separator films.
• Entek International LLC - The company offers lithium-ion battery separators such as UHMWPE Separators.

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Lithium-Ion Battery (LIB) Separator Market 2023-2027: Market Dynamics

Major Trend

Declining prices of lithium-ion batteries are a major trend in the market. Lithium-ion batteries make up a significant portion of the total cost of vehicles and machines. They are more expensive than lead or NiMH batteries. However, their production costs are significantly reduced. Recent years have seen a significant decrease in battery costs due to increased production volume, driving the growth of the LIB separator market. Furthermore, this trend is driven by the increasing use of automobiles and cost-effective manufacturing techniques developed by automakers, supported by government incentives, promoting the adoption of the use of lithium-ion-powered vehicles. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenge

Safety concerns due to the inefficiency of separators are a significant challenge restricting market growth. Due to their superior electrochemical performance and high energy density compared to conventional batteries, these batteries are commonly used in various automotive and electronic applications. They also exhibit improved environmental compatibility, intrinsic stability, and capacity. In addition, although separators are not actively involved in cell reactions, their physical properties determine the battery's performance. Although rare, events such as cell reactions can sometimes have serious consequences. Hence, these factors are expected to restrict market growth during the forecast period.

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Lithium-Ion Battery (LIB) Separator Market 2023-2027: Segmentation

Lithium-Ion Battery (LIB) Separator Market is segmented as below:

• Application 
• Automotive
• Non-automotive
• Material 
• Polyethylene
• Polypropylene
• Nylon
• Others
• Geography 
• APAC
• Europe
• North America
• Middle East And Africa
• South America

The automotive segment is estimated to witness significant growth during the forecast period. With its superiority over alternative batteries, lithium-ion batteries have many applications in electric vehicles (EVs) and other battery-powered vehicles. Unlike traditional vehicles, the high cost of electric vehicles comes from lithium-ion batteries. However, sustained research and development efforts, combined with large-scale production, are helping to reduce the cost of lithium-ion batteries. In addition, the outstanding performance of lithium-ion batteries is gradually replacing other options. These factors significantly support the growth of the lithium-ion battery separator (LIB) market. Hence, these factors are expected to drive segment growth during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) & forecast (2023-2027) – Download a Sample Report

Lithium-Ion Battery (LIB) Separator Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist lithium-ion battery (LIB) separator market growth during the next five years
• Estimation of the lithium-ion battery (LIB) separator market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the lithium-ion battery (LIB) separator market
• Analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of the lithium-ion battery (LIB) separator market, companies

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Material

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio