SELBYVILLE, Del., March 4, 2021 /PRNewswire/ -- Based on Global
Market Insights Inc.'s report, the Battery Separators
Market size was estimated at $6.6
billion in 2020 and is slated to surpass $19.8 billion by 2027, registering a CAGR
of 16.1% from 2021 to 2027. The report provides a comprehensive
analysis of the top winning strategies, wavering industry trends,
drivers & opportunities, top investment avenues, competitive
scenarios, market estimations & size.
Battery separators are extensively used in the consumer
electrical and automotive industry. Lithium ion batteries are
widely used in the automotive and consumer electronics industry
owing to their excellent mechanical properties. Moreover, the
decline in lithium battery manufacturing cost in the recent times
is anticipated to further propel the demand for polyolefin
separators in the coming years.
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Among various product segments, polypropylene and polyethylene
are projected to generate substantial gains during the forecast
period. Nylon is another major segment, with a market share of over
5%, and is projected to exhibit a CAGR of over 15.2% through
2027.
Based on batteries, lithium ion battery held the largest market
share, followed by lead acid battery with a market share of over
30% in 2020. Lithium acid batteries are widely used in consumer
electronics. The other batteries include nickel metal hydride
battery and nickel cadmium battery. The other segment held a market
over 22% in terms of revenue and is projected to exhibit a CAGR of
over 16%. The growing penetration of electric vehicles across the
globe is projected to augment the battery separators market share
for lithium ion batteries in the coming years.
On the basis of end users, the automotive industry was the most
revenue-generating industry in 2020 and is projected to follow the
same trend throughout the forecast period. Moreover, the
penetration of electric vehicles mainly in the Asia Pacific region is anticipated to further
augment the battery separators market growth.
The European business will showcase a moderate growth rate at a
CAGR of around 15.0% from 2021 to 2027. The presence of major
manufacturing companies coupled with huge automotive and consumer
electronics industry will propel the battery separators market
demand in this region. On the other hand, Asia Pacific was the largest region in 2020 is
projected to grow at the fastest CAGR of over 16.6 %. China, India,
and Japan are the largest
countries contributing to this growth.
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The major companies are hugely investing in research and
development to cater to the growing demand from the electronic
vehicle sector. For instance, in March
2019 Asahi Kesai invested over USD 30
billion in the expansion of its battery separator plant with
completion schedules by 2021.
Key manufacturers operating in the battery separators
industry include Asahi Kesai, Celgard, Toray Industries, UBE,
Sumitomo, SK Innovation, Freudenberg, Entek International, W-Scope
Industries, Bernard Dumas, and
others. Industry players are focused on product development,
geographic expansion, mergers & acquisitions, strategic
collaborations with several innovations, and cost optimization
strategies over the long-run.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
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penetrative insights and actionable market data that aid in
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industry segments within them, covering regional, company level and
cross-sectional statistics that make our offering a stand-out for
decision makers.
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Battery Separators Market Statistics - 2027
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SOURCE Global Market Insights Inc.