Anode Binders Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast | Growth Market Reports

The global anode binders market was valued at USD 250.2 Million in 2019 and is projected to reach USD 959.7 Million by 2027, expanding at a CAGR of 21.7% during the forecast period. The demand for Anode Binders is growing as demand for battery run appliances such as wearable electronics is increasing and volume of battery production is on the rise. Moreover, growing number of new sustainable anode binders is expected to boost the demand in developing countries. Additionally, Growing Innovation in storage and rechargeable batteries and anode binders market is expected to create lucrative opportunities for manufacturers in the market.

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Market Dynamics

In the current market scenario, the water-based anode binder is used to replace the organic solvent used in battery production. Solvent-based binders are expensive and require additional costs for collection, recovery, and environmental compliance. Switching to water-based anode binders can reduce the manufacturing costs, as it is less expensive, environment-friendly, and increases cell performance. Fast drying speed and low drying temperatures of the water-based binder increases the productivity and efficiency of electrode fabrication. Conversely, water-based binders have superior adhesion and can be used in low-concentration applications. They also increase battery rate and life performance. Hence, the demand for water-based anode binders is anticipated to increase during the forecast period. Furthermore, Silicon material has attracted enormous attention in the last decade, as it has high theoretical capacity. Hence, silicon-based anodes have been used intensively as a promising material to produce technologically advanced and high-capacity electrodes in lithium-ion batteries. Modification of binders is an effective method to improve the performance of silicon anode. In this way, the contact integrity among conductive additives, active materials, and current collectors can be maintained. Hence, silicon is considered as effective anode materials for Li-ion batteries (LIBs), owing to its high volumetric and gravimetric capacity. Moreover, it is cheap, abundant, and environmentally benign. This, in turn, is anticipated to propel the demand for silicon-based anodes during the forecast period.

Batteries are widely used in utility grids, electric vehicles, and other electronics for storage and energy supply. However, there is a growing demand to improve the energy density of the batteries. Therefore, the development of new electrode materials with high energy density is gaining importance to meet the changing demand from end-user industries. The interface problem of the active materials and binder can be resolved by fixing the active material straight to the conductive substrate. Moreover, electron and ion conductivity can be improved by close contact between the active material and conductive substrates in the binder-free electrode. In this way, the binder-free electrode exhibits an exceptional electrochemical performance. Hence, development of binder-free electrodes for use in Li-ion batteries is anticipated to restrain the market growth during the forecast period.

Rapidly increasing penetration of internet services & connectivity in numerous developing and developed economies worldwide, is providing growth opportunities for the lithium battery manufacturers, operating in the consumer electronics market. For instance, according to the China Internet Network Information Center, internet penetration reached 61.2% in 2019, registering a growth of 1.6%, as compared to that in 2018. This, in turn, is anticipated to expand the demand for the Li-ion batteries market in the next few years. Hence, the increasing adoption of wearable technology is anticipated to supplement the global anode binder market during the forecast period.

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Regional Outlook

In terms of regions, the global Anode Binders market is segregated into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific accounted for a significant share of the global market in 2019. The market in Asia Pacific is projected to expand at a substantial pace during the forecast period. North America is anticipated to hold the considerable share of the market during the forecast period due to growing investments in research activities and the presence of well-established battery and related chemicals manufacturers in the region. Growing automotive and energy storage and consumer electronics industries are expected to fuel the Anode Binders market in Europe during the forecast period.

Competitive Landscape

Key players in the market include Ashland, BASF SE, Daxin Materials Corp, Solvay, APV Engineered Coatings, HiNa Battery Technology Co., Ltd., FUJIAN BLUE OCEAN & BLACK STONE TECHNOLOGY CO., LTD, JSR Corporation, SHOWA DENKO K.K., and ZEON CORPORATION. These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.

The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to increase their demand for anode binders.

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