Battery Coating Market Size, Share, Trends, Value 2030

Industry Prospective:

The global battery coating market was valued at $2.5M in 2021 and held a market value of $3.2M in 2022. The global market is expected to generate a revenue of over $7M by 2028 and grow at a CAGR of 14% during the forecast period.

The report analyzes the battery coating market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global battery coating market.

Battery Coating Market: Overview

Battery coating is the process of applying a thin layer of protective film on top of lithium-ion batteries. Li-ion batteries are used in portable electronic products. Over time, li-ion batteries lose their effectiveness and longevity with constant charging & discharging. Battery coating assists in increasing the lifespan of batteries and prevents the battery from early degradation. It also assists in improving the voltage storage capacity and helps in maintaining the operational performance of the batteries.

The global battery coating market has witnessed a rise in recent years because of the development of electronic products functioning on li-ion batteries like electric cars, mobile phones, laptops, etc. However, the full potential of the global market is yet to be tapped into.

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Covid-19 Impact:

Covid-19 had a negative impact on the global market owing to reduced demand for electronics products. Halt in the manufacturing of electronics products because of Covid-19 restrictions also caused a dip in the global market growth.

However, as the world population & business owners grew used to functioning from their homes, demand for electronic items saw an increase, and the trend is anticipated to continue during the forecast period.

Battery Coating Market: Growth Drivers

Increasing demand for electric vehicles to propel market growth

The adverse effects of global warming can be witnessed in every corner of the world. This has forced the industry players to shift to renewable and cleaner sources of energy that do not have a harmful impact on nature. This shift is drastically witnessed in increasing preference for electric vehicles, which do not run on gas, petrol, or diesel. The surging demand for EVs is expected to propel the global battery coating market growth during the forecast period which is also strengthened by the addition of strong market players who are working on manufacturing electric vehicles for every segment of the population thus increasing the consumer database and widening market reach.

With every passing year, the competition between electronic product manufacturers gets tougher owing to the rising demand for technologically advanced products which propels the manufacturers towards extensive R&D and innovation to beat the competition. This is also coupled with the modernization of cities and the subsequently increased expenditure on electronic products & infrastructure development. With these advancements, there is a need for high-performance batteries that work efficiently and provide the necessary support to the growing demand for smart services.

Battery Coating Market: Report Scope

Battery Coating Market: Restraints

High cost of technology associated with battery coating may restrain the market growth

Battery coating technologies like CVD, PECVD, and ALD are expensive and lead to increasing the overall cost of the end products. These technologies are used in the coating of anodes, cathodes, and electrolytes. If the raw material itself is expensive, the price of the end product will automatically increase thus hampering the growth of the global market.

Battery Coating Market: Opportunities

Continuous technological advancement in the field to provide market growth opportunities

The world is moving towards innovating new technologies while at the same time upgrading the technology already in existence which is applicable to the field of battery coating market as well. Huge funding and investments are seen in the global market by private companies as well as government sectors to provide for batteries with higher efficiency rate, better output, improved safety, and longer lifecycle. Intensive R&D on technologies like ALD and CVD which offer higher durability and enhanced performance is expected to provide ample growth opportunities for the expansion of the global battery coating market.

Battery Coating Market: Challenges

Preference for solid electrolytes over liquid electrolytes poses a challenge in market expansion

A growing shift is witnessed towards research and manufacturing of batteries that are cost-effective, have better-charging speed, are non-inflammable and have high density. These properties in a battery can be achieved by using solid electrolytes since they have more flexibility and provide higher thermal stability than liquid electrolytes. The growing shift toward solid electrolytes may create challenging situations in the global market expansion.

Battery Coating Market: Segmentation

The global battery coating market is segmented by material type, battery component, and region.

Based on material type, the global market is segmented into ceramic, PVDF, alumina, carbon, and oxide. PVDF is expected to lead the global market in the coming years since they offer electrochemical stability, along with better accord with electrolytes and lower hardness. Given the electron-withdrawing groups of their polymer chain, while also having a high dielectric constant, they are more preferred than their counterparts in the global market.

Based on battery components, the global market is segmented into electrode coating, battery-pack coating, and separator coating where electrode coating is expected to lead the segment because of growing R&D to produce new electrode coating materials along with technological innovations to enhance their electrochemical performance.

Recent Developments:

• In June 2021, an advanced and sustainable range of Kynar PVDF was announced by Arkema SA. The new range offers 100% renewability aided by the presence of crude tall oil bio-feedstock derived carbon.
• In September 2021, an innovative carbon binder was launched by PPG Industries. The new binder helps in increasing the efficiency of lithium-ion battery production and safety measures thus propelling the dominance of the business in the EV sector.

Battery Coating Market: Competitive Landscape

The global battery coating market is led by market giants like Axalta Coating Systems Ltd., Samco Inc., Targray Technology International Inc, Asahi Kasei Corporation, Asahi Kasei Corporation, Dürr Group, Tanaka Chemical Corporation, APV Engineered Coatings, Unifrax, Solvay SA, PPG Industries, Inc, NEI Corporation, ALD NanoSolutions, Inc., Alteo Group, Mitsubishi Paper Mills Ltd., Nano One Materials Corp.

Battery Coating Market: Regional Landscape

Asia-Pacific is anticipated to dominate the global battery coating market owing to the presence of multiple large-scale battery coating manufacturers in the region which is aided by government initiatives to attract foreign investors along with the presence of many domestic players in the segment. Due to the rising population and increasing disposable income in regions like Singapore, China, and India, the region has become a target market for EV manufacturers while at the same time, many local automobile companies are investing in the development of the affordable line of electric vehicles which is anticipated to aid the regional growth.

North America is projected to register a significant CAGR during the forecast period because of the developed economy and high spending capacity of the general population which aids the growing demand for electric vehicles. Tesla Motors in the USA has become a pioneer in the development of world-class electric vehicles and other manufacturers are now aiming to gain the same popularity thus propelling the regional growth.

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Latin America, Africa, and the Middle East are expected to generate higher revenue because of increased investments in renewable energy due to the abundant presence of raw materials and slowly but steadily developing economies.

Battery Coating Market: Competitive Space

The global Battery Coating market profiles key players such as:

• Axalta Coating Systems Ltd
• Samco Inc
• Targray Technology International Inc
• Asahi Kasei Corporation
• Asahi Kasei Corporation
• Dürr Group
• Tanaka Chemical Corporation
• APV Engineered Coatings
• Unifrax
• Solvay SA
• PPG Industries, Inc
• NEI Corporation
• ALD NanoSolutions, Inc
• Alteo Group
• Mitsubishi Paper Mills Ltd
• Nano One Materials Corp

The global battery coating market is segmented as below:

By Material Type:

• Ceramic
• PVDF
• Almunia
• Carbon
• Oxide

By Battery Component

• Electrode coating
• Battery pack coating
• Separator coating

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa