The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Battery Coating Market.
It was estimated prior to this unanticipated outbreak that the Battery Coating Market was expected to grow at a CAGR of 12.1% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Electrodes used in batteries are coated with materials to prevent them against corrosion and other detrimental reactions. These coatings are usually known as battery coatings.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the material type, the battery coating market is segmented as PVDF, ceramic, alumina, oxide, carbon, and others. The PVDF segment is expected to account for the largest share of the market over the forecast period. PVDF is a semi-crystalline polymer with low hardness and electrochemical stability which makes it a suitable material for separator coater battery components. The surge in demand for separator coatings from the lithium-ion battery end-use industry is generating huge demand for the PVDF segment.
Based on the battery component type, the market is segmented as electrode coating, separator coating, and battery pack coating. The separator coating segment is estimated to be the largest segment, during the forecast period, on account of the growing use of lithium-ion batteries, which require separator coatings for use in electric vehicles across the globe.
In terms of regions, Asia-Pacific is estimated to be the largest battery coating market during the forecast period. Exponential growth in demand for battery coatings and production of electric vehicles and electronic devices in economies such as Japan, China, and South Korea is generating huge demand for battery coatings in the region.
Some of the major players in the battery coating market are-