CHICAGO, Feb. 14, 2023 /PRNewswire/ -- The report "Battery Separators Market by Battery Type (Lead Acid and Li-ion), Material (Polyethylene and Polypropylene), Technology (Dry and Wet), End-Use (Automotive, Consumer Electronics, Industrial), and Region - Global Forecast to 2027", is projected to grow from USD 5.3 billion in 2022 to USD 11.4 billion by 2027, at a CAGR of 16.4% during the forecast period. High demand from the automotive sector is expected to drive the battery separators market.
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227 - Tables
54 - Figures
235 - Pages
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The Lead-acid battery is expected to account for the largest share of the battery separators market, by battery type, during the forecast period, in terms of value
By battery type, the lead-acid battery is estimated to have the largest market share by value. Lead-acid batteries are utilized as sustainable energy storage systems for wind and solar power owing to their low material costs, safety, and recyclability. They are recyclable up to 99% and have a good energy storage capacity. Furthermore, various advancements have been made in lead-acid batteries and separators, which are expected to increase the market share of this segment.
By end-use, the automotive segment is expected to account for the largest market share during the forecast period in terms of value.
Based on end-use, the automotive segment is estimated to account for the largest share of the market during the forecast period. The adoption of various environmental norms and emission regulations, along with the increasing need for efficiency, are driving the market for batteries in the automotive segment. The growth of battery-driven vehicles such as hybrid electric vehicles and plug-in hybrid electric vehicles is expected to boost the global battery separators market, which will further propel the growth of this segment.
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Polyethylene, by material, is expected to account for the largest segment during the forecast period.
Based on material, the battery separators market is classified into polypropylene, polyethylene, and others. Polyethylene is expected to account for the largest segment in 2027 in terms of value. Polyethylene is widely used in various applications such as food wraps, shopping bags, detergent bottles, batteries, and fuel tanks. Among these, polyethylene finds its major application in the manufacturing of battery separators. Thus, the significant growth related to the battery separators market, in turn, is leading to the market expansion of polyethylene.
Asia Pacific is projected to register the largest market share during the forecast period in terms of value.
By value, Asia Pacific is expected to lead the market during the forecast period. This demand can be attributed to the high economic growth and heavy investments in the automotive and electronics sectors. Particularly, emerging economies, such as China and India, have made Asia-Pacific a huge market for battery separators. Additionally, government support and an increase in purchasing power of the population in this region are likely to generate the market for battery separators.
Market Players
The key players in the battery separators market include Shanghai Energy New Materials Technology Co., Ltd. (China), Asahi Kasei Corporation (Japan), SK ie Technology (South Korea), Toray Industries, Inc. (Japan), and Sinoma Science & Technology Co., Ltd. (China), among others.
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