The battery coating market is projected to grow from USD 169 million in 2020 to USD 301 million by 2025, at a CAGR of 12.2% from 2020 to 2025
NEW YORK, March 25, 2020 /PRNewswire/ --
The battery coating market is projected to grow at a CAGR of 12.2% from 2020 to 2025, in terms of value.
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The battery coating market is projected to grow from USD 169 million in 2020 to USD 301 million by 2025, at a CAGR of 12.2% from 2020 to 2025. The high production of EVs, HEVs, and PHEVs and the growing demand for smart devices and other consumer electronics are expected to drive the battery coating market. High coating technology costs, however, act as a restraint for the growth of this market.
The electrode coating segment is projected to register the highest CAGR during the forecast period.
Based on battery component, the electrode coating segment of the market is projected to register the highest CAGR during the forecast period.This projected growth is attributed to the increase in demand for electrode coating in lithium-ion batteries for high performance and safety of the batteries.
There is an increase in demand for more sustainable batteries, especially in EVs, smart devices, and energy storage systems. This demand will, in return, drive the growth of the electrode coating segment of the battery coating market.
The oxide segment is projected to register the highest CAGR during the forecast period.
Based on material type, the oxides segment of the market is projected to grow at the highest rate during the forecast period.Continuous innovation and technological advances in battery materials will lead to the rapid adoption of electrode and separator coatings in the battery material industry.
This rapid adoption, in turn, provides an opportunity for the oxide material type segment to grow. Oxides are used to coat the electrode materials of lithium-ion batteries to enhance the performance, life cycle, and safety of the batteries.
The battery coating market in Europe is projected to witness the highest CAGR during the forecast period.
Europe is projected to register the highest CAGR in the battery coating market from 2020 to 2025.The market is expected to witness growth in Europe in the coming years, owing to economic growth and increasing presence of battery material manufacturers, cell fabricators, and battery manufacturers in the region, especially in France, Germany, and Belgium.
For instance, leading market players, such as Arkema SA (France) and Solvay SA (Belgium), are based in the region.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 35%, Tier 2 – 30%, and Tier 3 – 35%
• By Designation: C-level Executives – 25%, Directors – 30%, and Others – 45%
• By Region: Asia Pacific – 45%, Europe – 25%, North America – 20%, RoW – 10%
Furthermore, as a part of the qualitative analysis of the battery coating market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players, such as APV Engineered Coatings (US), Arkema SA (France), Solvay SA (Belgium), Mitsubishi Paper Mills Ltd. (Japan), Ube Industries Ltd. (Japan), Tanaka Chemical Corporation (Japan), Asahi Kasei Corporation (Japan), SK innovation Co., Ltd. (South Korea), Unifrax (US), NEI Corporation (US), Targray Technology International Inc. (Canada), Alteo Group (France), Nano One Materials Corp. (Canada), SAMCO Inc. (Japan), Nexeon Limited (UK), ALD NanoSolutions, Inc. (US), and Forge Nano Inc. (US).
Research Coverage:
The report defines, segments, and projects the size of the battery coating market based on battery component, material 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, product developments, investments, agreements, and partnerships, undertaken by them in the market.
Reasons to Buy the Report:
This report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the battery coating market and its segments. The report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities
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