Lithium-ion batteries are also inherently difficult to transport. Lithium-ion batteries are illegal on many airlines, and when it comes to shipping, they are also restricted, so they could be difficult to transport.
The global lithium ion battery separator market is expected to reach an evaluation of US$ 3,256.7 million, with sales growing at a healthy CAGR of 7.2% from 2022 to 2032. The target market was valued at US$ 1,624.9 million in 2022. The accelerated shift from fuel-based to zero-emission electric vehicles along with the rapid growth of automobiles, storage systems, and consumer electronics are responsible for the steady growth of the market during this observation period.
Battery cells with abnormal heat generation are separated by a lithium ion battery separator which shuts down the battery mechanism. These separators facilitate ion transport while preventing short circuits which increases battery reliability as it prevents physical contact between the anode and cathode. This aspect encourages higher demand for lithium ion battery separators.
Historically, the market for lithium ion battery separators recorded a moderate CAGR of 5.3% from 2016 to 2021. It is expected that the market will recover and grow at a restored growth rate of 7.2%. This market is heavily influenced by advancing battery technology. The advancement of battery technology has led to a sharp incline in the need for better separator designs. This is because battery technology relies heavily on separators to maintain efficiency and reliability which, in turn, invites greater research and development efforts in this field as the current separators do not meet standards. Hence, the lithium ion battery separator market is expected to undergo robust growth in the upcoming years.
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The implementation of stringent government regulations regarding carbon emissions has resulted in a gradual shift from fuel-based to lithium-ion batteries for various industrial and automobile applications by manufacturers. Consequently, remunerative opportunities have opened up for the lithium ion battery separator market. Additionally, an upsurge in the consumption of smartphones, tablets, and electronic items also supplements the growth of the lithium-ion battery separator market. The introduction of electronic drivetrains and plug-in hybrid electric vehicles has led to the automobile sector focusing on the production of lithium ion battery separators. Though all of these factors invite growth for the market, it also faces certain restraints. Difficulty in transportation, availability of separators with poor resistance which results in the shutdown of batteries, and safety concerns are certain factors that will likely impede the growth of the lithium-ion battery market.
Key Takeaways:
Competitive Landscape
Asahi Kasei Group, Natrion, Gellec, SEMCORP, TEIJIN Limited, Entek International LLC, and Targray Technology International Inc., among others, are some of the key players in the lithium ion battery separator market profiled in the full version of the report.
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In a competitive environment, leading market players are focusing on product development, innovation, and the launch of novel products. These companies also employ various expansion tactics to gain a competitive edge. For instance, in September 2022, the Mark Cuban-backed solid-state battery manufacturer launched the LISIC278 separator for traditional pouch cells.
Key Segments Profiled in the Global Lithium Ion Battery Separator Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Lithium Ion Battery Separator , Lithium Ion Battery Separator Market , Lithium Ion Battery Separator Market sales , Lithium Ion Battery Separator Market demand
Mar 27, 2023
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