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The global battery separator market is projected to reach USD 5.13 billion by 2022, at a CAGR of 12.5%, from USD 2.85 billion in 2017
NEW YORK, Fev. 12, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05312886
The global battery separator market is projected to reach USD 5.13 billion by 2022, at a CAGR of 12.5%, from USD 2.85 billion in 2017. Stringent government regulations regarding reduction of carbon emission, inclination of automotive manufacturers toward production of EVs, and rising demand for smartphones due to rapid urbanization are the key factors that are driving the demand for battery separators. Moreover, increasing industrialization and higher dependency on technology leads to a demand for consumer electronics, and constant development in these areas has further increased the adoption of compact batteries. This, in turn, is expected to fuel the demand for battery separators. However, low heat resistance of battery separator materials and various reported cases of battery failures could lead to a lower the consumption of battery separators
Based on end-use industry, the automotive segment is estimated to lead the battery separator market during the forecast period
Automotive is the largest end-use industry segment of the battery separator market, in terms of value. Battery separators are a vital part of a battery, and are required to deliver efficient performance while managing the weight and size of batteries as per manufacturers' requirements. Advancements in technology have led to improvements in battery cell chemistry, leading to a reduction in the weight of battery packs.
This has substantially influenced the use and demand for suitable battery separators for various automotive applications. Owing to environmental concerns and awareness about clean and sustainable fuel, there is a rise in the demand for EVs. There is also an increasing competition between manufacturers of battery models installed in EVs owing to the need for operational excellence. Hence, this market is expected to witness continuous sturdy growth, with respect to both medium as well as long-term perspective.
Rising demand from various applications is expected to drive battery separator market in Asia Pacific region
Asia Pacific is the largest market for battery separators, in terms of value. The fast-growing middle-class segment, as well as rising purchasing power and disposable income have elevated the demand of battery separators in this region. The growth of the consumer electronics and automotive industries is mainly attributed to the global expansion by domestic brands and support from various governments. The increasing use of battery separators in the automotive and electronics applications is also driving the market in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below:
• By Company Type: Tier 1 – 58%, Tier 2 – 35%, and Others – 7%
• By Designation: C level – 38%, Director level – 50%, and Others – 12%
• By Region: North America – 25%, Europe – 32%, Asia Pacific – 13%, South America – 20%, and Middle East & Africa – 10%
Key companies profiled in this market research report are Asahi Kasei (Japan), Toray Industry (Japan), SK Innovation (South Korea), Entek International (US), Ube Industries (Japan), Freudenberg (Germany), W-Scope Industries (Japan), Bernard Dumas (France), Dreamweaver International (US), and Sumitomo Chemical (Japan).
This report covers the battery separator market, in terms of value, and forecasts the market size till 2022. The report includes market segmentation based on type (lithium-ion, lead acid, others), end-use industry (automotive, consumer electronics, industrial, others), material (polypropylene, polyethylene, others), and region (Asia Pacific, Europe, North America, Middle East & Africa, South America). The regions have been further segmented based on key countries into the US, Canada, Mexico, Germany, the UK, France, Spain, Italy, Norway, the Netherlands, China, Japan, South Korea, Malaysia, India, Saudi Arabia, South Africa, the UAE, Brazil, and Argentina. The report also provides company profiles and competitive strategies adopted by the key players in the battery separator market.
The report will help market leaders/new entrants in the global battery separator market in the following ways:
1. This report segments the battery separator market comprehensively and provides closest approximations of the revenue numbers for the overall market, and the subsegments across different verticals and regions.
2. It will help stakeholders understand the pulse of the market, and provide them information on key market drivers, restraints, and opportunities.
3. It will help stakeholders understand competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product launches, expansions, and acquisitions.
Read the full report: https://www.reportlinker.com/p05312886
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