- Based on type, lithium-ion segment is projected to lead battery separator market.
- Based on end-use industry, automotive segment is anticipated to grow at highest CAGR.
- Asia Pacific is expected to be fastest-growing market for battery separators.
The battery separators market has witnessed significant growth in recent years, owing to stringent regulations related to environment. Increasing population and industrialization, coupled with the increasing demand for electrically-operated vehicles and various advances done in the battery technology are driving the consumption of battery separators around the world.The global battery separators market is estimated to reach $5.13 billion by 2022, at a CAGR of 12.5% from 2017 to 2022.
The main types of battery separators considered in the report are lead acid, Li-ion, and others. Owing to its low cost and wide applicability, the lead acid battery separator segment led the market in 2016, in terms of value. However, the Li-ion battery separator segment is expected to grow at a higher rate owing to its high cost and potential to be used in EVs. Li-ion batteries are widely used in electric vehicles and hybrid vehicles.
Battery separators are used in batteries of various end-use industries, such as automotive, consumer electronics, industrial, and others. On the basis of end-use industry, the automotive segment is projected to lead the battery separators market during the forecast period. Advancements in technology have led to improvements in battery cell chemistry, subsequently reducing the weight of battery packs. Hence, this has substantially influenced the use and demand for suitable battery separators for various automotive applications.
North America, Europe, Asia Pacific, Middle East & Africa, and South America have been considered as the key markets for battery separators in the report. Asia Pacific is estimated to be the fastest-growing market for battery separators during the forecast period. The growth of this regional market can be attributed to the huge demand for battery materials in emerging nations such as China and India. Recently, this region has emerged as a hub for automobile production, opening avenues and opportunities for OEM market.
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Toray Industry (Japan), Asahi Kasei (Japan), SK Innovation (South Korea), Freudenberg (Germany), Entek International (US), W-Scope Industries (Japan), Ube Industries (Japan), Sumitomo Chemical (Japan), Dreamweaver International (US), and Bernard Dumas (France) are the key companies operational in the battery separator market. Targeting new markets will enable battery separator manufacturers to cater to the rising demand for battery separators, hence reinforcing their positions in the market.
The main objective of the study is to define, describe, and forecast the battery separators market on the basis of type, end-use industry, material, and region. The report includes detailed information about the major factors (drivers, restraints, opportunities) influencing the growth of the market. The report strategically analyzes market segments with respect to individual growth trends, growth prospects, and contribution to the total market. The report includes analysis of the battery separators market on the basis of type (lead acid, Li-ion, others), end-use industry (automotive, consumer electronics, industrial, others), material (polyethylene, polypropylene, others), and region (Asia Pacific, Europe, North America, Middle East & Africa, South America). The market size of battery separator has been estimated in terms of value. The base year considered for the study is 2016 while the forecast period is between 2017 and 2022.