Battery Separators Market Analysis

Battery Separators Market Analysis

Polyethylene (PE) separators held a market share of over 40% in 2020 in terms of volume and are projected to exhibit a CAGR of over 17% through 2027. PE separators shut down the battery if the core temperature reaches over 130-degree Celsius, thereby preventing short circuit or thermal run-away scenarios. They possess excellent mechanical properties and chemical stability; hence, are widely employed across various industrial sectors. The separators also possess other important properties, making them ideal for consumer electronic applications.
 

Polypropylene is another major segment in the overall market and shall account for over 25% of market share in terms of revenue in 2027. Polypropylene is one the most used polyolefin battery separators in the consumer electronics & automotive industries. Excellent mechanical properties coupled with low cost are some of the major factors attributing to the battery separators market demand during the review period.
 

Lithium-ion battery type generated over UDS 4.2 billion in 2020. Lithium-ion batteries are one of the most efficient batteries available in the market and are widely employed in automotive and consumer electronics applications. The growing penetration of electric vehicles across the globe will drive the demand for lithium-ion batteries. The demand is anticipated to show tremendous growth, in turn, adding to the overall battery separators market during the review period. The other battery type segment shall hold close to 13% in 2027. It includes nickel cadmium battery, nickel metal hydride, and others.
 

Among the various end-user sectors in the global battery separators market, the automotive industry segment held a market share of over 45% in terms of revenue and will exhibit a CAGR of over 16.5% through 2027. Growing demand for lithium-ion batteries in the automotive industry coupled with the penetration of electronic vehicles is anticipated to generate huge revenue in the overall battery separators market.
 

With growing technological innovations, the weight of lithium-ion batteries has been substantially reduced in recent times, marking it more desirable for electric vehicle applications. The other segment held a market share of over 2% in 2020 and is anticipated to exhibit a CAGR of over 10.1%. The other segment includes consumer electronics, telecommunication, and others.
 

Asia Pacific will be the largest region, followed by Europe throughout the forecast period. The presence of a huge automotive industry coupled with the increasing penetration of consumer electronics in the region will complement the battery separators market growth throughout the assessment period.
 

According to the National Investment Promotion & Facilitation Agency, India is one of the largest electronics markets across the globe and shall reach a value of over USD 400 billion by 2025. China is a major revenue generating economy in the region due to the presence of a huge electronic vehicle producing infrastructure in the region. China is projected to grow at a CAGR of over 17% throughout the forecast period.
 

Europe to hold market share close to 20% in 2027. The presence of stringent regulations has boosted the use of electric vehicles in the region, thereby contributing to the overall market demand during the assessment period. Furthermore, a huge consumer electronics demand is also anticipated to drive the battery separators market sales.