Composite Current Collector Market Size, Share, Trends, Growth and Forecast 2032

Composite Current Collector Industry Prospective:

The global composite current collector market size was worth around USD 435.61 million in 2023 and is predicted to grow to around USD 2,932.68 million by 2032 with a compound annual growth rate (CAGR) of roughly 23.60% between 2024 and 2032.

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Composite Current Collector Market: Overview

Composite current collectors are considered by industry experts as the next-generation bridging gaps between lithium-ion batteries and the associated external circuit. Traditionally used current collectors are made using materials such as copper foils and aluminum. However, in the modern era, there is a greater need to develop aspects of battery performance such as energy density, weight, safety, and the overall production cost. These goals can be achieved using composite current collectors mimicking the structure of a sandwich. Batteries made using composite current collectors are expected to have a longer shelf life and higher capacity as compared to batteries made using conventional composite current collectors. The primary parameter of a composite current collector is made using the metal-polymer-metal structure. It forms on the surface of a biaxially oriented film substrate in thin-scale form with the help of processes such as magnetron sputtering, metallization, and others. Since the polymer used in batteries with compost current collectors has high resistance to puncture, they provide improved safety. A consecutive converting process can be easily achieved using a composite current collector since it showcases perfect flatness. The industry for composite current collectors is showing promising signs of growth during the projection period.

Key Insights:

• As per the analysis shared by our research analyst, the global composite current collector market is estimated to grow annually at a CAGR of around 23.60% over the forecast period (2024-2032)
• In terms of revenue, the global composite current collector market size was valued at around USD 435.61 million in 2023 and is projected to reach USD 2,932.68 million, by 2032.
• The market is projected to grow at a significant rate due to the increasing demand for electric vehicles (EVs)
• Based on the application, the power battery segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the type, the PET copper plating film segment is anticipated to command the largest market share
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period

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Composite Current Collector Market: Growth Drivers

Increasing demand for electric vehicles (EVs) will generate high market revenue

The global composite current collector market is expected to grow due to the increasing demand for electric vehicles. EVs are powered by energy-storing batteries and composite current collectors can provide the necessary boost to the EV sector as the demand for efficient batteries is on the rise. In January 2024, scientists at the Department of Energy working at Oak Ridge National Laboratory developed a novel current collector with a metal-free structure. It is made using a polymer-based composite with carbon fibers. This structure consisting of aligned fibers works in tandem with carbon nanotubes (CNTs)-based thin film thus improving uniform and direction current flow. Intensive research over the years indicates that current collectors made of composite materials such as graphene, metal, carbon fiber foams, and others assist in improved battery performance. For instance, carbon fiber-based collectors have good mechanical properties and high electrical and thermal conductivity. On the other hand, CNT-based current collectors promote high electrical conductivity. These composite collectors help in lowering the overall weight of the structure thus showcasing improved performance in the electric vehicle sector. EVs are considered the future of the global automotive industry. In the last few years, there has been a sharp increase in the development of affordable electric vehicles with higher performance capacity. The constantly changing prices of fuel thus impacting the cost-efficiency of combustion engine powered vehicles is leading to more people opting for electric vehicles. Additionally, regional governments are exceedingly investing in the electrification of public transport systems by deploying electric trains and buses alongside building infrastructure to support the smooth functioning of electric public transport facilities.

Growing emphasis on developing sustainable solutions will fuel the market adoption rate

Composite current collectors are made using recyclable and renewable materials hence the production process of these collectors is considered more sustainable as compared to other counterparts. As the demand for sustainable solutions is on the rise, more investments can be expected in the global composite current collector market. Moreover, the tools offer higher energy efficiency with higher durability and shelf life. They are designed to deliver excellent power outputs.

Composite Current Collector Market: Restraints

Scaling the production of the high-cost current collector will restrict the market expansion rate

The global composite current collector industry is projected to be restricted due to the high cost of manufacturing these highly efficient battery entities. They are designed using complex mechanisms. Additionally, the industry is filled with only limited players which results in higher production costs as compared to traditional current collectors. Moreover, companies are plagued with challenges related to scaling the production of composite current collectors when compared to conventional counterparts since the latter is currently produced in abundant quantities.

Composite Current Collector Market: Opportunities

Growing investments in advanced material science may create growth opportunities for the industry players

The global composite current collector market will come across several growth opportunities due to the increasing investments in the development and research of advanced materials with superior performance capabilities. For instance, in March 2024, the US Department of Energy announced an investment of USD 62 billion in the regional industry for recycling batteries as the demand for EVs is surging steadily. The country has announced to invest USD 7 billion in improving the battery supply chain in the country. In February 2024, the European Union announced a new partnership plan worth € 500 million to be directed toward researching advanced materials as the EU aims to become more competitive in the growing world. The region is expected to invest €250 between 2025 and 2027 in a bid to attract private companies to accelerate the production and distribution of advanced materials. Such measures are likely to create a higher growth scope for composite current collectors.

Surging demand for sleeker, smarter, and high-performance consumer electronics will deliver improved market performance

The global consumer electronics sector is one of the fastest-growing industries with the rising demand for smarter solutions that offer enhanced physical attributes and overall performance. The rising rate of miniaturization in the electronics sector along with increased investments in new solutions that provide a competitive edge to the companies in the consumer electronics sector will help the global composite current collector market flourish.

Composite Current Collector Market: Challenges

High competition from traditional current collectors will challenge the market expansion rate

The global industry for composite current collectors is expected to be challenged by the presence and dominance of traditional current collectors. The alternatives to composite forms are available on a large scale. The supply chain surrounding conventional current collectors is highly efficient and well-established. More research is needed to truly understand the extended applications of composite current collectors and their performance levels in the changing external environment.

Composite Current Collector Market: Segmentation

The global composite current collector market is segmented based on application, type, and region.

Based on application, the global market segments are consumer batteries and power batteries. In 2023, the highest demand was observed in the power batteries segment due to the extensive application of these batteries in electric vehicles. The escalating demand for EVs across the globe and higher focus on superior EV battery performance will fuel the segmental demand during the projection period. In 2023, the global EV market was valued at over 387 billion and will grow at a CAGR of over 12% during the projection period.

Based on type, the global market divisions are PET copper plating film and PET aluminized film. In 2023, the highest growth rate was registered in the polyethylene terephthalate (PET) copper plating segment due to the higher electrical conductivity of copper-based products as compared to aluminized PET. The segment has high applications in the supercapacitor industry which is currently valued at over USD 0.4 billion and may reach USD 1 billion by the end of the projection period.

Composite Current Collector Market Report Scope

Composite Current Collector Market: Regional Analysis

Asia-Pacific to generate the highest growth during the forecast period

The global composite current collector market will be driven by Asia-Pacific during the projection period. China is the world’s leading maker of batteries with dominant control over the global battery supply chain and logistics. The region is home to leading developers and researchers of composite current collectors thus promoting exception market growth. In recent times, the country has increased the production rate of advanced batteries as the subsequent consumption rate has increased rapidly. The presence of a massive electric vehicle sector and the continuous production of EVs across price ranges add to the regional demand for composite current collectors. As per official reports, Chinese firms BYD and CATL dominated over 52% of the global EV battery market. India, Japan, and other Asian countries have increased respective investments in battery technology as the demand for consumer electronics and EVs is on the rise. North America is projected to generate significant results as a consequence of increased focus on developing advanced materials and reducing dependency on Chinese suppliers for batteries. The US will lead the regional market as per the market survey. The growing focus on sustainable alternatives to traditional composite current collectors and surging investment in the regional EV industry will further promote the market growth rate.

Composite Current Collector Market: Competitive Analysis

The global composite current collector market is led by players like:

• Huntsman Corporation
• Solvay
• Teijin Limited
• Mitsubishi Chemical Corporation
• Koninklijke Ten Cate bv
• Renegade Materials Corporation
• SGL Carbon
• Isola Group
• Toray Industries
• Park Electrochemical Corp.
• Toho Tenax
• Cytec Solvay Group
• Hexcel Corporation
• Gurit Holding AG
• Axiom Materials Inc.

The global composite current collector market is segmented as follows:

By Application

• Consumer Battery
• Power Battery

By Type

• PET Copper Plating Film
• PET Aluminized Film

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