Market Size of Lithium-ion Battery Separator Industry
|2021 - 2029
|Base Year For Estimation
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Lithium Ion Battery Separator Market Analysis
The lithium-ion (LIB) battery separator market is expected to register a CAGR of 16.21% during the forecast period.
Though COVID-19 negatively impacted the market in 2020, it has reached pre-pandemic levels.
- Over the medium term, factors such as declining lithium-ion battery prices and the increasing adoption of electric vehicles are expected to drive the market.
- On the other hand, the demand-supply mismatch of raw materials is expected to restrain the market growth during the forecast period.
- Moreover, advancements in battery technology have dramatically increased the demand for improvements in separator design. Current separators, either in commercial usage or under the development stage, have yet to meet the high stability and lifespan performance standards necessary to prevent deterioration in the efficiency and reliability of battery technologies. This is likely to create immense opportunities for the market studied during the forecast period.
- The Asia-Pacific is expected to be the largest and fastest-growing market during the forecast period, with the majority of the demand coming from countries like China, Japan, etc.