Battery Separator Market Overview
The Global Battery Separator Market was valued at USD 608 million in 2018 and is expected to register a CAGR of 6.14% during the forecast period.
The Global Battery Separator Market has been segmented by material, battery type, application, and region. By material, the global battery separator market has been segmented into polyethylene, polypropylene, nylon, ceramic, polyvinylidene fluoride, and others. Among these, the polyethylene and polypropylene segments collectively dominated the global market in 2018 due to large-scale use of polyolefin in the recent past. However, the ceramic coating segment is projected to grow at the highest CAGR during the forecast period.
Based on Battery Type, The Global Battery Separator Market has been divided into lithium-ion (Li-ion), lead acid, nickel-cadmium (Ni-Cd), nickel metal hydride, and others. The market for the lithium-ion battery is growing at a fast pace in recent days due to its superior performance efficiency. The Li-ion battery segment thus is expected to hold the largest share of the global market, in terms of both value and volume, during the forecast period.
Based on Application, The Global Battery Separator Market has been categorized into consumer electronics, automotive, industrial, and others. The consumer electronics segment was the largest market for battery separators in 2018. However, the development and adoption of electric vehicles across the world at fast pace due to various government initiatives is expected to increase the demand for battery separators in the automotive segment during the review period.
Some of the key players in The Global Battery Separator Market are Toray Industries, Inc (Japan), Sumitomo Chemical Co., Ltd (Japan), Asahi Kasei Corporation (Japan), SK Innovation Co., Ltd (South Korea), Freudenberg Performance Materials (US), Entek (US), Dreamweaver International (US), W-Scope Corporation (Japan), Ube Industries, Ltd (Japan), Bernard Dumas (France), DowDuPont (US), Mitsubishi Chemical Corporation (Japan), Eaton (Ireland), Teijin Limited (Japan), and Cangzhou Mingzhu Plastic Co., Ltd (China).
The Global Battery Separator Market has been studied with respect to five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest market share in 2018 and is expected to grow at a significant rate during the forecast period. The growth is attributed to the growing demand for the product in the electronics industry. The demand for the product is increasing from the major electronic hubs in the region, such as Japan, South Korea, and Taiwan, which is expected to contribute to the growth of the regional market.
Economic growth, increasing disposable income of middle-class population, and declining prices of consumer electronics are some of the factors driving the growth of the electronics industry in the region. With the rapid proliferation of smart technology, electronic devices such as audio & video equipment, digital imaging equipment, and home appliances have witnessed the change of dynamics in recent years. Secondly, the expanding automotive industry is another major factor responsible for the growth of the regional battery separators market.
The demand for electric vehicles is particularly expected to increase in the coming years. For instance, on 1 March 2019, the Indian government approved USD 1445 million for the phase two of FAME India (Faster Adoption and Manufacturing of Electric Vehicles in India) policy to promote the use of electric vehicles in the country. Furthermore, rapid industrialization in the region is expected to contribute to the growth of the product market.
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