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 increasing demand for battery coating in lithium-ion batteries by end-use industries, such as automotive, consumer electronics, and energy & power, is expected to drive the battery coating market.
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), Forge Nano Inc. (US), and Beneq Group (Finland) are some of the leading players in the battery coating market. These players have adopted growth strategies such as expansions, product developments, investments, agreements, and partnerships to enhance their position in the market.
In November 2019, Solvay SA announced the expansion of its SOLEF polyvinylidene fluoride (PVDF) capacity in China to meet the booming demand for lithium batteries. The company will be more than doubling its production capacity of high-performance polymer SOLEF polyvinylidene fluoride (PVDF) at its production site in Changshu, China. Sustainable mobility is driving double-digit growth in demand for PVDF in lithium-ion batteries for electric vehicles, where Asia is the largest market. Other growing applications include offshore oil and gas pipes and liners, high purity semiconductors, and membranes for water purification.
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In June 2019, Alteo joined forces with the China-based group Ginet to create the joint venture Alteo-Ginet (Suzhou) Lithium Battery Material Technology. In this joint venture, Alteo provides its expertise in superfine alumina, which is already used in surface coatings for lithium-ion battery separators and electrodes. In turn, Ginet provides the industrial capacity needed to grind alumina powder made by Alteo’s plant in Gardanne (France).
In April 2018, Arkema SA established a new Kynar fluoropolymer production facility at its Calvert-City plant in Kentucky, US. This expansion enabled a 20% increase in its US production capacity, helping Arkema support the strong demand of its customers in the North American region.
In January 2019, the Volkswagen Group (Germany) agreed to invest USD 10 million in Forge Nano Inc. with a view to reinforcing its specialist knowledge in the field of battery research. Forge Nano is involved in the investigation of a material coating technology that could further improve the performance of battery materials. As a partner of Forge Nano, Volkswagen will also provide support for industrial trials of this technology. The transaction is still subject to approval by the authorities.
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