Lithium-Ion Battery Separator Market OverviewThe lithium-ion (LIB) battery separator market was valued at USD 5.32 billion in 2020, and it is expected to reach USD 12.42 billion by 2026, registering a CAGR of 16.21% during the forecast period of 2021-2026. The price of lithium-ion batteries has fallen steeply over the past 10 years, driving the demand for the market. Electric vehicle (EV) manufacturers are emerging as a significant customer base for these batteries. The EVs primarily use lithium-ion batteries. The declining lithium-ion battery costs are impacting the cost of EV manufacturing. The EV industry is expected to witness monumental growth. This, in turn, is expected to drive the lithium-ion battery separator market.
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Lithium-Ion Battery Separator Market – Geographical Overview
Asia-Pacific is expected to be the fastest-growing market during the forecast period
The demand for lithium-ion batteries in the region is expected to grow rapidly, owing to the growth in the adoption of new energy vehicles (NEVs) and ESS for on-grid and off-grid applications. The development of NEVs is further boosted by the mandates put forth by the Chinese government. Countries like Australia, India, and Vietnam are also planning to set up li-ion battery manufacturing facilities in their countries in the near future. China has also adopted a national New Energy Vehicle Subsidy Program in April 2020 to boost EVs’ sales further. China is further expected to dominate with a 57% share of the global EV market by 2030.
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Key Highlights of the Lithium-Ion Battery Separator Market
- The lithium-ion battery separator market is fragmented. Some of the major players operating in this market include Asahi Kasei Corp., Toray Industries Inc., Sumitomo Chemical Co. Ltd, SK Innovation Co. Ltd, and Ube Industries Ltd., amongst others.
- Advancements in battery technology have dramatically increased the demand for improvements in separator design. Current separators, either in commercial usage or under the development stage, have yet to meet the high stability and lifespan performance standards necessary to prevent deterioration in the battery technologies’ efficiency and reliability. This is likely to create immense opportunities for the lithium-ion battery separator market.
- In November 2020, SK IE Technology Co. Ltd, a subsidiary of SK Innovation, had commissioned a new lithium-ion battery (LIB) separator plant in Changzhou, China. In the United States, Ion Storage Systems announced moving into a new HQ & manufacturing facility for solid-state battery with thin ceramic separator, located in Maryland’s Prince George’s County.
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List of Key Players in the Lithium-Ion Battery Separator Market
- Asahi Kasei Corp.
- Toray Industries Inc.
- Sumitomo Chemical Co. Ltd
- Entek International LLC
- SK Innovation Co. Ltd
- Ube Industries Ltd
- Mitsubishi Electric Corporation (replaced to Mitsubishi Paper Mills Ltd)
- Dreamweaver International
- W-SCOPE CORPORATION
*List Not Exhaustive
Mordor Intelligence has segmented the global lithium-ion battery separator market on the basis of geography:
- Geography (Market Size & Forecast based on Revenues (USD billion), 2019-2026)
- Asia-Pacific
- North America
- Europe
- South America
- Middle-East and Africa
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