Global Battery Coating Market Size & Analysis - By Technology Type (Atomic Layer Deposition (ALD), Plasma Enhanced Chemical Vapor Deposition (PECVD), Chemical Vapor Deposition (CVD)), By Battery Component (Electrode Coating, Separator Coating, Battery Pack Coating), By Material Type (PVDF (Polyvinylidene Fluoride), Ceramic, Alumina, Oxide, Carbon, Others), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), Company Market Share Analysis, End-Use Landscape; Vendor Landscape And Competitive Landscape - Forecasts To 2026
Global Battery Coating Market Insights:
The global battery coating market is expected to generate revenue amounting to USD 150.75 million in 2019, and is projected to reach to USD 337.83 million by 2026, growing at a CAGR of 12.22% over the forecast period. Increase in application of batteries among end use industries such as healthcare, wearable, and automobile industry among others is expected to drive the market of the battery coating during the forecast period. Growing demand for high performing and long lasting batteries for effective working is also propelling the market growth for battery coating.
Growing usage of smart devices such as smart watches, smart phones, and smart wearables among others is expected to boost the market growth for battery coating during the forecast period. Increasing production of electric vehicles (EVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) are driving the market growth for battery coating. Growing demand for batteries from electric vehicles across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of battery coating during the forecast period. However, high coating technology cost is likely to hamper the market growth in the coming years.
Global Battery Coating Market Segmentation:
The global battery coating market is segmented on the basis of technology type into atomic layer deposition (ALD), plasma enhanced chemical vapor deposition (PECVD), and chemical vapor deposition (CVD). The atomic layer deposition technology segment is expected to grow at the highest CAGR in the battery coating market during the forecast period (2019-2026). Atomic layer deposition (ALD) is a thin film coating technology used for a wide range of applications. ALD is also a special variant of the chemical vapor deposition (CVD) technique where gaseous reactants are introduced into the reaction chamber for forming the desired material via chemical surface reactions. Increasing demand for plug-in vehicles along with growing need for energy storage solutions are some of the major factors expected to boost the market growth for battery coating over the forecast period.
On the basis of battery component, the global battery coating market is segmented into electrode coating, separator coating, and battery pack coating. Separator coating segment is expected to hold the largest market share in the global battery coating market during the forecast period. Separator coating is majorly required in lithium-ion batteries which are used in electric vehicles. Separator coating lowers the shrinkage of the separators in batteries and increase the battery life cycle. Increasing production of electric vehicles across the globe is driving the market growth for separator coating. The electrode coating segment is expected to grow at the highest CAGR during the forecast period. Increase in demand for more sustainable batteries, from end use industries such as smart devices, and energy storage systems are propelling the market growth for electrode coating segment.
On the basis of material type, the global battery coating is segmented into PVDF (Polyvinylidene Fluoride), ceramic, alumina, oxide, and carbon among others. The PVDF (Polyvinylidene Fluoride) segment is expected to hold the largest market share in the global battery coating market during the forecast period. PVDF is a semi-crystalline polymer that has low hardness and electrochemical stability and suitable for separator coating. PVDF-coated separator displays a higher porosity (56%), a better liquid electrolyte uptake (200%), and electrochemical stability under 5V compared to traditional separators. These are some of the major properties driving the demand for PVDF for separator coating.
Global Battery Coating Market – Regional Insights:
On the basis of region, the market for battery coating is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The Asia Pacific reason is expected to hold the largest market share during the forecast period. Presence of leading consumer electronics manufacturers such as LG, Samsung, Sony, Panasonic, and Dell among others is driving the market for battery coating. The rising demand for new energy storage applications in vehicles, and grid-connected energy storage among others are also expected to drive the market growth. North America region is expected to grow at a significant CAGR during the forecast period. Increasing demand for battery coating from electronics, and electric vehicle sectors is driving the market growth in North America region.
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The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Battery Coating Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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