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The battery separators market is projected to grow from USD 5.3 billion in 2022 to USD 11.4 billion by 2027, at a CAGR of 16.4%
during the forecast period. Growing R&D for battery separators and using batteries in energy storage devices offer various opportunities for manufacturers, which will further increase the market share of the battery separators market.
New York, March 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Battery Separators Market by Battery Type, Material, Technology, End-Use And Region - Global Forecast to 2027" - https://www.reportlinker.com/p05312886/?utm_source=GNW
Polypropylene segment, by material, is estimated to account for the second largest share during the forecast period
The market for the polypropylene segment is driven by its use in the automotive and marine industries.Battery separators made of polypropylene are used in EV batteries.
The need for polypropylene is further expected to increase due to its rising demand in fashion apparel and healthcare devices, among others.
Lithium-ion segment, by battery type, is estimated to account for the second largest share during the forecast period
Li-ion batteries are widely used in electric vehicles and in a few hybrid vehicles.Also, these batteries find major applications in consumer electronics and automotive industries.
It provides them with the leanest production process and reduces CO2 emissions. Thus, the high capacity and lightweight properties of lithium-ion batteries are expected to increase demand in this segment.
Consumer electronics segment, by end-use, is estimated to account for the second largest share during the forecast period
Lithium-ion batteries are being increasingly used in various consumer electronics such as cell phones, portable PCs, and tablets, among others.These batteries offer high energy density, require less time to recharge, and are environment-friendly, which further increases their demand by electronics manufacturers.
Thus, the increasing use of lithium-ion batteries in consumer electronics is expected to increase the demand for this segment.
Europe region is estimated to account for the second largest share during the forecast period
Europe is the second-largest market for battery separators.Germany is one of the major countries in the region.
The market in Germany is driven by the automobile sector, especially the growing demand for electric vehicles.The country, being a major player in the automotive industry, proves to be a favorable market for batteries, especially lithium-ion batteries.
Furthermore, the shift towards renewable energy is expected to drive the market in Germany, which will contribute to the growth of the European battery separators market.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
• By Designation: Director Level– 30%, C-level– 25%, and Others – 45%
• By Region: North America – 30%, Europe – 20%, Asia Pacific – 40%, South America – 3%, Middle East & Africa – 7%
Shanghai Energy New Materials Technology Co., Ltd. (China), Asahi Kasei Corporation (Japan), SK ie Technology (South Korea), Toray Industries, Inc. (Japan), and Sinoma Science & Technology Co., Ltd. (China) are some of the key players operating in the battery separators market. These players have adopted strategies such as partnerships, acquisitions, and expansions to enhance their business revenue and market share.
Research Coverage:
The report defines, segments, and projects the battery separators market based on material, battery type, end-use, and region.It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges.
It strategically profiles, battery separators manufacturers and comprehensively analyses their market shares and core competencies as well as tracks and analyzes competitive developments, such as expansions, joint ventures, agreements, and acquisitions, undertaken by them in the market.
Reasons to Buy the Report:
The 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 separators market and its segments.This 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 provide them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05312886/?utm_source=GNW
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