Lithium-ion Battery Separator Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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The outbreak of COVID-19 had a significant impact on the global lithium-ion battery separator market. The COVID-19 pandemic has greatly affected the li-ion battery industry supply chain including the battery separator market. However, declining lithium-ion battery prices and the increasing adoption of electric vehicles are the major factors driving the market demand during the forecast period. On the other hand, demand-supply mismatch of raw materials is expected to hinder the market growth.

Electric vehicle (EV) manufacturers are emerging as a significant customer base for these batteries. The EVs primarily use lithium-ion batteries. The declining lithium-ion battery costs are impacting the cost of EV manufacturing. The EV industry is expected to witness a monumental growth. This, in turn, is expected to drive the lithium-ion battery separator market.

Advancements in battery technology have dramatically increased the demand for improvements in separator design. Current separators, either in commercial usage or under developement stage, have yet to meet the high stability and lifespan performance standards necessary ...
... to prevent deterioration in the battery technologies' efficiency and reliability. This is likely to create immense opportunities for the market studied.

Asia-Pacific is expected to be the fastest growing market during the forecast period, with majority of the demand coming from countries like China, Japan, etc.

Key Market Trends

Increasing Adoption of Electric Vehicles

In the early years of the lithium-ion battery market, the consumer electronics sector was the major consumer of these batteries. But in recent years, electric vehicles (EVs) have become the biggest consumers of lithium-ion batteries, owing to the growing sales of EVs.

The EVs do not emit CO2, NOX, or any other greenhouse gases, and hence, have a lower environmental impact compared to conventional internal combustion engine (ICE) vehicles. Due to this advantage, many countries are encouraging the use of EVs by introducing subsidies and government programs.

Several countries have announced plans to ban the sales of ICE vehicles in the future. Norway announced to ban the sales of ICE vehicles by 2025, France by 2040, and the United Kingdom by 2050. Also, India has plans to phase out ICE engines by 2030, while China's similar plan is currently under relevant research phase.

But as of 2019, conventional fuel-fired cars cannot be banned in any country, as the EV technology and the EV industry may not be ready for such a move, which can cause significant disruptions in the market. Nonetheless, future announcements have encouraged EV manufacturers to invest heavily in R&D activities.

With increasing support from governments across the world, declining costs, and improved range, the number of EVs is increasing. To support growth, many countries around the world are investing in building charging station infrastructure for EVs.

In 2019, the Indian government announced its plans to build a total of 40 GW of Li-ion battery manufacturing capacity. Major battery manufacturers, like Exide, Exicom, Amaron, Greenfuel Energy Solutions, and Amara Raja Batteries have already rolled out their plans to produce Li-ion batteries domestically to meet the increasing demand from the automobile sector, which, in turn, increases the demand for lithium-ion battery separator market globally.

Therefore, the largest consumer of lithium-ion batteries i.e. the EV industry is expected to witness significant growth, which, in turn, drives the li-ion battery separator market during the forecast period.

Asia-Pacific to Dominate the Market

As of 2019, Asia-Pacific has dominated the global li-ion battery supply chain market. The countries in the region are the leading proponents of the global lithium-ion battery supply chain, with China, Japan, and South Korea leading the way. Countries like Australia, India, and Vietnam are also following the top countries with plans to set up li-ion battery manufacturing facilities in their countries in the near future.

The demand for lithium-ion batteries in the region is expected to grow rapidly, owing to the growth in the adoption of new energy vehicles (NEVs) and ESS for on-grid and off-grid applications.

The development of NEVs is further boosted by the mandates put forth by the Chinese government. For instance, in 2018, the NEV credit mandate went into effect, thereby setting a minimum production requirement for the car manufacturing industry. China has also adopted a national New Energy Vehicle Subsidy Program in April 2020 to further boost EVs' sales. Earlier, the subsidy program was set to expire at the end of 2020, but due to COVID-19, the program is extended until the end of 2022.

China is further expected to dominate with a 57% share of the global EV market by 2030. The development of charging infrastructure is propelling the adoption of EVs in the country further. Until 2019, there are nearly 1.2 million charging stations, and the country has plans to add another 0.6 million units during the forecast period.

In November 2020, Japan is planning to introduce tax incentives and create a research fund to support green investment, as the government is pushing to meet a target of carbon-neutrality. The incentives are expected to be targeted at boosting investment in wind turbines, next-generation lithium-ion batteries for electric and hybrid vehicles, and semi-conductors that regulate voltage and save power. Increasing tax incentives for the lithium-ion industry can aid the growth of the whole ecosystem related to lithium-ion batteries, including lithium-ion separators.

Therefore, based on the above-mentioned factors, Asia-Pacific is expected to dominate the lithium-ion battery separator market during the forecast period
Competitive Landscape

The lithium-ion battery separator market is fragmented. Some of the major players operating in this market include Asahi Kasei Corp., Toray Industries Inc., Sumitomo Chemical Co. Ltd, SK Innovation Co. Ltd, Ube Industries Ltd.

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